The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-24
THE SENSATIONAL EVENT OF THE
WEEK IN TRADE CIRCLES.
Many Industrial Contracts COndi-
tiOnal Oh the E~IectiOn-Dun * Co.'s
and Bradstreet's Reviews.

NEW YORK, Oct. 23.-R. G.. Dun & Cos
weekly review of trade tomorrow will say:
The event of the week has been the
sensational advance of wheat to S3 cents
for cash on Tuesday, a rise of 512 cents and
it's fall to Il cents on Thursday, gaining 13s
cent on Friday. The rise was magnified by
covering of speculative sellers. who imag-
ined the advance had gone too far, but
was at the bottom based on an eXtraordi-
nary foreign demand, which has engaged
grain vessels from all Pacific as well as
Atlantic ports for months ahead. How
great the shortage in ordinary European
supplies may be is the point of doubt and
speculation, but none now question that
shipments from Pacific coast to India and
the decrease in Russia's yield are impor-
tant and the buying of enormous quanti-
ties for export, with engagements of freight
room at higher rates, express the belief of
European dealers. Wheat exports from the
Pacific coast are large and over 500, 900
bushels per day have been engaged ahead
for some time. The Atlantic exports, about
500. 900 bushels larger than last year for the
same week, have been in October 6,510.213
bushels, flour included, against 5,OS6, 3SS last
year. 1t is worthy of note that Western
roads are complaining of Il car famine, the
demand for movement to markets being SO
great, though the actual receipts for three
weeks at Western ports have been q, 1873, 716
bushels, against 90, O61 ,544 last year, follow
ing a much increased movement in the
quarter ending with September. Corn
moves largely and at lower prices, having
declined a cent on the week. Cotton has
advanced IL sixteenth to s cents, with only
moderate transactions and heavy receipts
from plantations. Estimates of yield vary
% II tho xxnv " frov, Mr. Na;IF- q non Oan l,Io-
to much less than 5000, 900, but the impress
sion grows that the yield will be large.
The most striking feature of industrial
returns is the number of contracts condi-
toned upon the election. These already
are enough to make business rather lively
for q time, and many others are pending
which will probably be held back unit.
Nov. l. The buying of materials not only
advances prices, but induces larger pur-
chases of the finished products without
Leather has risen Il. per cent. with a
general demand though mostly in hem
lock sole and union, and hides at Chicago
have been advanced still further by PACK
ers, though country hides do not rise at
all, and some are lower, but the average
of all is 6 per cent. higher.
Buying OF Bessemer pig at Pittsburg
causes a sight advance, and all markets
are strong FOR pig, but not for finished
products; Very low prices are made for
speedy delivery, by mills wanting work;
nj the TONE OIL the uldTheI Is oelIcF, ana
a decided increase of orders, appears in
plates, about 5000 tons for building vessels
of the lakes and i~nStructurai work at the
West, owing to contracts taken at Chicago
for buildings at Boston, Toronto, Detroit
and Minneapolis. There is also a great de-
mand expected for cars. and the associa-
ton offers to sell iron until Nov. 6 to Job
bers and large buyers at SI.05, while steel
bars are selling largely at ] per cent. A
reduction in nails is expected; but the rail
season is over and the billet pool has little
business. a sale of about 5000. Goo pounds
was made of lake copper at l012c to domes-
tic consumers. Tin is IL shade higher at
l.. soc.
Failures for the week have been PA in the
United States, against 23l last year; and
60 in Canada. AGAINST IS last year.