The herald., 1896-11-28
COMMERCIAL CONDITIONS
As Seen and Reported by Ex.
pert Observers
TRADE CONTINUES SMALL
And Prices for Staples Generally Tend
Downward
Stockholders Look for a Dull Market
Until Congress Takes Action
on Pending Questions.
Associated Press Special Wire

| tomorrow will say: Last weeks dis
appointment Of the lack of demand in
general lines continues the intervention
of holiday having made trade quiete-
and the volume smaller At some points
of distribution there is no change in the
situation. Mild and unreasonable
weather prevents a more active distri-
button of clothing and heavy goods, and
the volume moving is smaller. Where
business has been more active it is due
to filling orders and the demand for holi
day goods, confidence in revival OF
demand which has not yet appeared,
was responsible for the starting up of
some mills and factories, which are dis
satisfied with their prospects. The most
encouraging reports are of an improved
tone of trade and a favorable outlook for
1897
| The large number of changes in prices
of staples were downward this week.
Exports of wheat (four included as
wheat) from both coasts of the United
States (Newport News missing) amount
to 3,641,51S bushels this week against
S.937, 900 bushels last week, 2,64o, 900 BUSH
els in the week one year ago; 1861, 900
bushels in the week two years ago.
There were 295 business failures
| throughout the United States this week,
| 10 fewer than last week, seven more
| than in the week one year ago, twelve
| fewer than two years ago, and three less
| than in the corresponding week of 1892.
AS compared with the like week Of 1892,
when the volume of business was large
and trade generally prosperous, the in
crease this week is only o.
There are SO business failures report
ed from the Canadian Dominion this
week. against Al last week, 50 in the week
year ago and 35 two years ago.
Bradstreet's review of the stock
market tomorrow will say: Irregularity
with narrow fluctuations has been the
most marked feature of the weeks stock
market transactions. Speculation has
been altogether professional but weakly
held long stocks have been dislodgad,
and inability to produce further liquida
| ton with increase of the short interest
| have made the bear leaders cautious.
| The room traders have several times
| covered their short stocks and given
temporary line of strength to the pro-
ceedings. The features Of the market
were supplied by the specialties but the
| larger operators acting on the bear side,
| have made drives at number of lead
| ing stocks, though their success in de
pressing them was small. The general
impression of the street is that material
rallies are not probable, and that until
congress meets and some definite Idea
can be formed as to it's course in connec-
ton with the Cuban situation. as well
as in regard to currency and tariff leg
islation, no very pronounced movement
in the market is likely. There is be-
lief that the reduction in the middle CT
the month is due to the fact that the
| market was only premature in discount
ing the favorable effects of the election,
and that a renewed Improvement in
stock values is to be looked for after the
opening of the new year
The ease of the money market has in
creased steadily and facilitates the car
rying of stocks. Last Saturdays bank
statement indicated phenomenal out
pouring of boarded funds, while the
treasury gold reserves are, without any
effort being made to increase them,
! approaching the $4,000, 900 mark.
DUN & CO.'S REPORT
r. G. Dun & Co.'S weekly review Of
trade tomorrow will say: When the rush
of orders after the election slackened
many began to think business dwind
ling Subsistence of deferred orders is
not decrease of business Broadly
speaking. the gain has been greater
than anybody expected, and it is not sur
prising if a small part of it is in excess
of the present consuming demand.
Reports from all parts of the country
show clearly the enlargement of trade,
not at all points in the same branches,
but everywhere helped by more conf
dent feeling. Extremes of weather
have made the week not altogether good
for retail trade, but in that line also
there is some improvement on the whole.
Wheat has risen over cents for the
week, without material change in for
eign advces, which have been on the
whole less stimulating. Western re-
ceipts are falling behind last years, and
for four weeks past have been only 49,
O12,5S4 bushels against 27,902,027 last
year. while the exports, flour included,
having been 6,270 961 bushels in the same
week, against 6,265. 900 last year, and are
not large enough to create excitement
But thirteen cargoes have left Tacoma
in November, and thirty have left San
Francisco, with twelve more loading
and forty engaged. The milling demand
in the Atlantic states is also large and
at four western cities the output of flour
in five weeks has been 2.755, 400 barrels,
against 2,450,3 in the same week last
year. Corn has sympathized with wheat
only little and is coming forward free
ly the most important factor in the
wheat market is that the visible supplies
do not gain as much as expected. Wool
was and is still bought largely for spec
ulation and earlier purchasers are un-
loading on the latter but the mills are
not yet doing much more than in Oc-
tober. A few more have been started,
but there is scarcely much demand ap-
parent for goods. Including speculative
operations the sales of wool have been
for four weeks 37,S14, 100 pounds, Of which
26, ,212,O 900 were domestic, against 24,296,-
OaO last year. Of which 1881. 750 were do.