The star. (Reynoldsville, Pa.) 1892-1946, 1896-10-28
THE OUTLOOK GOOD.
Dun Takes a Most Cheerful View Of the
Wheat Boom.

The event OF the week has been the SEN
sational advance of wheat to s3c for cash on
Tuesday, a rise OF 5lsc, and its fail to 77c on
Thursday, gaining sc on Friday. Tho rise
was magnined by covering OF speculative
sellers, who imagined the advance had gone
too far but was mt the bottom based on an
extraordinary foreign demand which has en-
gagged grain vessels from all Pacific as we'll
ns 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 ship
ments from the Pacific coast TO India and
the decrease in Russia's yield are important,
and the buying OF enormous quantities 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 600, 900 bushels per day have
been engaged ahead for some time The
Atlantic exports. about 900, 900 bushels larger
than last year for the week, have been in
October 6,570,2l3 bushels, flour included,
against 5,Os6,3 3Ss bushels last year. II II
worthy Of note that western roads ure COM
planning OF a car famine, the demand for
movement to markets being so great, though
the actual receipts for three weeks at west
ern ports have been 2l,l93,7l6 bushels,
against %, ,061, 5ii bushels last year, follow
ing much increased movement In the quar-
ter ending with September. Corn moves
largely, and at lower prices, having declined
n cent for the week. Cotton has advanced a
sixteenth TO SC. with only moderate trans
actions, and heavy receipts from plantations.
Estimates of yield vary all the way from Mr..
Nell's 100000 bales to much less than
5000, 900, but the impression grows that the
yield will be large.
TIE most striking feature OF industrial re-
turns Is the number OF contracts conditioned
upon the election. These are enough to
make business rather lively for time. and
many others are pending which will proba-
bly, be held back until November I. The
buying of materials not only advances
prices, but induces larger purchases of the
finished products without conditions.
Leather has risen ~ per cent with general
demand though mostly in hemlock sole and
union, and hides at Chicago have been I'D
yanced still further by packers, though
country hides po not rise at all, and some
are lower, but the average OF all Is per cent
higher.
Buying OF bessemer pig at Plttsburg
causes slight 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.
But the tone of the market is better, and n
decided increase of orders appears In plates,
about 5000 tons for building vessels on the
lakes, and in structural work at the West,
owing TO contracts taken Mt Chicago for
buildings Mt Boston, Toronto, Detroit and
Minneapolis. There Is also great demand
expected for cars, and the association offers
TO sell iron until November o, to jobbers and
large buyers at Sl05. while steel bars are
selling largely at 1c. A reduction in nails is
expected. But the nail season is over, and
the billet pool has little business. A sale Of
about 100000 pounds was made of lake
copper at sl0.50 to domestic consumers.
Tin is n shade higher at sl2.sO
Failures for the have been 27i In the
United States, against 23l Inst year and 20 in
Canada, against SO last year.