The herald., 1896-10-17
COMMERCIAL CONDITIONS
As Seen and Reported by Expert
Observers
BETTER BUSINESS ASSURED
BY the Excess Of Exports Over the
Imports
The Corner Stone of the Coming Good
Times Is the Foreign Demand for
American Grain
Associated Press Special wire

Associated Press Special Wire
NEW YORK, Oct. 16.-R. G. Dun &
Co.'S weekly review of trade tomorrow
will say: The one commercial change
which more than any other insures bet
ter business in the near future is the ex-
cess of merchandise exports over inn
ports. In September exports were $685.
09S, ,594, and imports only $50,S25,705, and
the execes of imports was $34,272,SS9, in
payment for which net imports of gold
were 34.249, 1888. Last year the excess
of merchandise imports was S6, 765,251 in
September, and net exports of gold $l6,-
5O6, ,55S. In two weeks of October the ex-
ports from New York have increased 3o.6
per cent, against 31.2 in September,
while imports have decreased "a per
cent against 35.2 in September. Con-
tinued shipments of gold from Europe,
not including $4,000 900 from Australia,
now amount to $50, 9,55O,00O since the
movement began, of which $52, $50, 900
has already arrived. The heavy move
ment of grain is the corner stone. After
an increase of 59,923,675 of exports of
breadstuffs in September there have
been shipped the past week from At
lantic ports alone 2,134 ,554 bushels flour
included, and 4,203,S45 in the two weeks
of October, against 3,510,271 bushels last
year. A more important fact is that all
available grain freights have been en-
gagged for months ahead here and on the
Pacific coast. The minister of agricul-
ture in India stated in council on Thurs
day that distress was expected in large
n of India q G tho raSIY1t nf drn1Jth hvIt
importations of wheat from California
would help to prevent actual famine.
A high official of Russia now in this
country, confirms accounts of shortness
in the Russian yield. Thus the estimates
that Europe will fall 100, 900, 900 bushels
short of last year in supply of wheat Is
strongly supported, and while depart
ment estimates of yield in this country
are not credited, there is every reason
to expect foreign demand.
Western receipts fall little below
last years. and for two weeks have
been 14,325.260 bushels. against 15,0S4.-
4S3 last year. Wheat has advanced AZ
cents for the week and corn 2 cents.
Wool is stronger, while continued spec
ulative buying and sales at eastern
markets have been 1856. 800 pounds for
two weeks against 21,2O9. 700 last year,
and 1902, 800 in 1892 but consigned wool
has been almost withdrawn until after
the election.
Failures for the week have been 1928
in the United States, against 236 last
year, and 40 in Canada, against 46 last
year.
BRADSTREET'S REPORT
Bradstreet's tomorrow will say: While
the volume of general trade has not in
creased materially, new conditions are
favorable to an early improvement.
Notwithstanding many interior mer-
chants prefer to wait until after cleo
ton before placing orders, and others
are willing to order subject to cancel
lation should the movement for free
coinage of silver be successful.
Sentiment at the large business CEN
ters regards the success of the campaign
for sound money as secured. In some
instances merchants are discovering
that view of the situation before plac-
ing orders, Features of the business
week were the continued advance in
the price and strength of wheat ard the
maintenance of large volume of
wheat exports, notably to India and
Australia.
While wool is no higher, holders have
sold enough to render them Indifferent
to Immediate business and are holding
stocks for full figures.
On the Pacific coast trade has been
stimulated by the advance in the price
of wheat and continued activity in ex-
ports of lumber and other staples, nota-
bly, to Japan, South Africa, Australia
and India. Trade is reviving in the
SR1 Joaquin valley since the compile
tion of a competing railroad.
Exports of wheat (flour included as
wheaD from both coasts of the United
States and from Montreal this week
amount to 4,156.91S bushels. against A.
O50,00O ushels last week, and 2,409, 900 il,
the week one year ago.
The total number of business failures
reported throughout the United states
is 279. twelve fewer than last week, ten
less than in the second week of October,
1895. There were 30 business failures
reported from the Canadian Dominion
this week, against 81 last week.