The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1896-01-25


NEW YORK, Jan. 24.-Bradstreet's to-
morrow will say:
An analysis of special kilograms to
Bradstreet's from the important business
centers throughout the country shows con-
siderable irreguIarity in trade, the most
favorable feature being the tendency of
staple prices to advance.
The advance of 3 cents in wheat again
raised the question whether the beginning
OF the end of the long period of depression
of cereal prices has come. Supplies of
wheat Tor leading importing markets are
now controlled by Russia and the United
States. midas, as well as Argentine's,
ability TO ship is much restricted, compared
with previous years, and Australia left the
list OF exporters when she began to import
wheat from San Francisco recently. Do
nestle stocks are larger than earlier Off
cial and trade estimates of it, but the eX-
port demand has increased so far beyond
what was anticipated and gives so much
promise of being continued that the bulls
in the speculative market are counting on
higher prices. AT such centers as Chicago
and st. Louis reports are made that interior
merchants have been disappointed in the
seasons business and are buying somewhat
more sparingly, although many jobbers at
those cities report that travellers for dry
ROOuSs clOtIlIlR, SDOo anu hardware houses
are taking fair orders for spring delivery
The total export of wheat, flour included
as wheat. from both coasts of the United
States this week amount to 3,S49, 900
bushels, as compared with 3,202 900
bushels last week and 2,S40,O0O in the
week year ago.
There were so business failures reported
from Canada this week against "A last
week. thus indicating a large falling off.
But when contrasts are made with like
weeks in preceding years, the so this week
is seen to be an unusually large number.
One year ago the total was IS; it was 4S
in each of the corresponding weeks in
1894 and 1898, and A in 1892.
Bradstreets review of the New York
stock market says:
Decidedly less consideration was given
to the condition of the government bond
issue this week. 1t is assumed that it will
be somewhat subscribed, though the pre-
vailing opinion is that the bulk of the
loan will be taken by the same interests
which formed the defunct Morgan syndi.
cate, and that public" subscriptions, So
called, will be scattering and relatively
unimportant. The most significant
figure in this connection is the evidence
afforded that the larger interests among
the presumable subscribers nave already
provided themselves. thus decreasing the
pressure to obtain gold or greenbacks
anu NlSiDly ISlieVlllp inc strain
upon the money market. Gold and
legal tenders still command a
premium of y to q per cent, but the in
quiry has slackened and transactions are
on smaller scale. The effort to accumu-
late legal tenders suggests, of course, that
some of the bidders are shaping their ar
raDgements with the view to obtaining
their gold with which to make payment for
bonds from the treasury itself. In the face
of conditions in the exchange market
which induced the export of $2,5OO,OOO
gold to Europe, oil of which was with
drawn from the United States treasury,
about $1,15O.O0O specie has come from
London and other amounts are said TO be
on the way. 1t is evident those transac-
tons involve the purchase of bills of en-
change and produce the pressure ON the
exchange market to which the current gold
exports are due. To this extent, therefore.
the preparations for the subscriptions are
a positive loss to the treasury gold reserve,
which at the end of the week is reduced to
only $50, 100000.
The most important event of the week
was the meeting of the coal road repre-
sentatives on Thursday. The fact that
production of anthracite in 1895 reached
The enormous amount of 46,35O tons
demonstrates the decentralization of the
trade and the necessity of restricting the
output to figures nearer the consumptive
demand.