The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-10-24
Business Men More lIopero,.l


Generat trade continues along conser-
valve lines, buyers and sellers prcfcrlng
,1 10 oeter business until after the elections
traders are more hopeful, as the outlook
lor business later in the year and next
| spring is bright. The reaction in wheat
prices, after an advance of 22 cents is the
natural result of Il desire to realize
pronts an advance in rates for money
ana enormously heavy receipts of wheat
at primary markets caused by higher
prices. Comparatively small stocks of
Wneat in importing countries. a decrease
III the worlds total production of wheat
lor TWO years in succession, unexpected
shortages in Russia. India, Argentina.
anu Australia, and only an average crop
In the United States are Interpreted to
men tnat the price of wheat will adj
vance further
Corn prices sympathiZe with wheat
quotations, and the only other two
prominent products, prices for which are
lower are apples and cotton seed OIL
Stock values at New York have ad
yanced on professional operations. re-
Meeting the expected political outcome
ana the favorable grain situation There
Is niue public or foreign support. and
iarSr interests are generally conserva-
1--WE IN View of the uncertain condition of
me money market between now and
election.
Mercantile collections continue as diff
iicult to make as heretofore except in
rev or the larger cotton growing States
ana IN the spring wheat region. where
rapld marketing of cotton and of wheat
has rendered funds more plentiful There
Is a disposition on the part OF planters
10 mold cotton for an advance.
iotai bank clearings in the United
states increased, amounting, to $i.0iT.-
Ooo,oOo this week. about = pcr cent mora
than last week. but 10 per cent less than
IN the third week of October 1885,
There are 2?2 business failures report
| cd throughout the United States this
| week, which is thirteen more than las:
week, anu thirty-threc more than in the
corresponding week last year
X. q. Dun & Co.'S weekly review of
trade. says:
The event of the week has been the
tional advance of wheat to So cents
ior cash on Tuesday, n rise of 81. cents
ana its fall to "a on Thursday gaining
Us on Friday. The rise was magniiicd
ny The covering OF speculative sellers.
who imagined the advance had gone too
| 1ar but was At the bottom based on an
| extraordinary foreign demand which
| has engaged grain vessels from all Pa
| ciiic as well as Atlantic POI, Is for months
| ahead How grea. the shortage In ordi-
| nary European supplies may be, is the
| point of doubt and speculation but none
| now question that shipments from the
| Pacific coast 30 India and the decrea SO i'm
| Russian yield are important, and the
buying of enormous quantities for ex-
| port. with engagements of freight room
| at hlgher rates. express the belief of
| European dealers.
| Wheat exports from the Pacific coast
are large, and over 100000 bushels per
| Gay nave been engaged ahead for some
| Time. The Atlantic exports about 300
| 900 bushels larger than last year for
| the week. have been in October, G57O,
2l3 bpshels flour included. against
o.oSG'"SS last ear. Corn moves largely.
L L.,
| cent for the week.
Cotton has advanced one-sixteenth.
| 10 cents. with only moderate transac-
| ions and heavy receipts from planta-
| tons Estimates OF yield vary all the
| way from Mr.. Ncil's 1000 900 bales 10
| much less than S.00OO00. but the impress
| sion grows that the yield will be large
| The most striking feature of indus
| trial returns Is the number of contracts
conditioned upon the election. These al
| ready are enough IL make business
| rather lively for u time. and many Others.
| ave pending. which will probably be
| held back until November Isl
BuyinS or l'csScmcr pig at Pittsburs
! causes slight advance. and all markets
are strong for pig. but npt for finished
| products. very low pr:cts re made for
| speedy delivery by mills wanting work.
| lsui the tone Of the market is better and
| decided increase of orders appear in
| vessels on the lakes and in structural
| WORK at the West. owing to contracts
| 'aken at chicago for buildings at Bos-
| ton. Toronto. Detroit, and Mime lpnlis
! thc!" l. also II crca, demand expected
| T." cas- and the Bar y Ssocia lion Offers
| 10 sell iron until November 9th. to job
hers and large buyers at los. while steel
hars are selling largely at one cent \
| reduction in nails is expected But IN,
rail season is over and the billet unnI
| has little business
| Ihe movement Of currcnc, to the in
terior has been only $3.50O. 900 for tin,
week, and the wa-ket for commercial
| loans mas been dull The volume Of
| business shown by exchanges has bncn
S.' per cent. less than last year and 90
| per cent les Il az in 1872 Failures for
the week have been 27i in the United
| states, against 81 last ear, and go in
Canada aSaist IS LIST year