Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1896-10-22
THE TRADE OUTLOOK.
MANY MERCHANTS DEFER BUY.
ING UNTIL AFTER ELECTION.
WHEAT GOES STILL HIGHER
An Immense Shortage in Russias
Makes Large Foreign Demand
Probable Gold Imports So Far
Amount to s59, 250, 600 Number of
Failures Increase Over Last Year.

New York, Oct. H. Bradstreets'
weekly review Of the trade says that
while the volume Of general trade has
not increased materially, the new con-
lions are favorable to early improve
ments. Notwithstanding that many in
terror merchants prefer to wait till
election before placing orders, and
others will only give orders subject 10
cancellation should the movement Of
the free coinage Of silver be success
full. The features of the business
week are continued advance in the
price and strength OF wheat and the
maintenance of the large volume of
wheat exports, notably to India,
and Australia While wool was no
higher, holders sold enough to render
them Indifferent to the immediate
business and are holding stocks for full
figures. New orders for iron and steel
products have not been placed freely,
Notwithstanding the growing exports
1t Is anticipated that within three
weeks the domestic demand will
meet expectations. On the Pacific
coast trade has been stimulated by an
advance in the price OF wheat and
continued activity in exports of lum-
Der and other staples, notSbly TO
Japan, Australia, South Africa, and
India. Exports Of wheat flour in
Guided as wheat from the United
States and Montreal during the week
amount to 4.157,000 bushels, against
4,0500 900 last week and 2,409,000 a
year ago. The total business failures
the past week throughout the United
States were 279. The total bank
clearings in the principal cities in the
United States, for the week were
5000, 325 .924; n decrease of 14.7 per
cent. as compared with the cores
ponding week last year
r. G. Dun & Company's report says
that the one commercial change
which, more than any other, insures
better business in the near future, is
the excess Of merchandise exports over
imports in September. This excess
of exports was $34,273,000 in payment
of which there were net imports OF
gold of $34 ,249,000 Las years excess
of merchandise imports amounted to
$6,765, 600 in September, and the net
exports Of gold $l6,506,000. In the
four principal classes of exports
there was an increase CT
$40, Gal 900. more than half be-
ing in cotton. Continued Shipments
OF gold from Europe rot including
four millions from Australia, now
amount to s59,250,0O9 since the move
ment began, Of which $50, 100000 has
already arrived. The heavy move
ment of grain is The corner stone.
There has been shipped the past
week from Atlantic ports alone 2,135,-
600 bushels flour ineluded) and 4,20S,-
S45 the first two weeks in October,
against 3,510,271 last year. A more
important feet is that all available
grain freights have been engaged
months ahead here and on the Pacific
coast. The minister of agriculture in
India stated Thursday that distress is
expected in large rart of India as
result of drought, but importations Of
wheat from California would help pre-
vent an actual famine. A high Of
fetal Of Russia now in this country
confirms the accounts Of shortness in
the Russian yield. They estimated
100000, 600 bushels short of last year
in the supply of wheat and there is
every reason to expect a remarkable
foreign demand Western receipts
fall little below last years. The
price advanced Az cents for the week
and corn cents. Boot and shoe
makers get very narrow orders at old
prices, or at an advance of less than
| per cent. for the week and less than
per cent from the lowest point.
Similar difficulties threaten iron man
ufacture, for pig is higher, bessemer
being $11.50 and gray forge 1886 at
Pittsburg; while plate, angles and
beams are weaker, and the various
combinations hold their prices only
by leaving outside competitors TO take
the market as far as they can Wool
has been stronger with continued
speculative buying, and sales in east
ern markets have been for two weeks
seven million pounds less than last
year. No gain at present is possible
in goods, and though the number of
mills starting for the week was -
against stopping, much work done is
In anticipation OF better demand
than now exists The manufacture of
minor metals also dTags, though the
domestic demand of copper has been
moderate. Failures for the week
numbered s2s against 26S last year.