The herald., 1896-09-29
MARKETS Of THE WORLD
WALL STREET SPECULATION
Local, Eastern and Foreign
Commercial Dealings
The Inflow Of Gold Is Very Liksiy to
C0niiHrc
Large Exports of Grain to Engiand-Chi-
nese Rice Crop Not Damaged-An-
ticipating Higher Prices.

Further engagements OF gold on large
scale have been the feature of the financial
situation this week. The total movement,
both the amount already received and the
sums engaged in London and Paris and in
transit to this side, now reaches the impos-
ing aggregate of $36, ,O00, 600, of which up to
cate about $26, 900 has already reached
this country. This movement, therefore,
ranks in volume with the largest of its kind
within recent years, and is, moreover no.
ticeabe from the fact that it has ell taken
place within a month, the first engege-
ments of specie in London having been
made on Wednesday, August 18th.
1t is gratifying to note that there is
nothing in the condition of the exchange
market at present to negative the pre-
sumption that the inflow will continue for
some time TO come. Indeed, the London
financial press, which at first attributed
the movement of gold hither to the man
lpulation of the so-called bankers syndi-
cate, has changed its tone. and shows IL
disposition to concede the fact that Il is
natural ana healthy, and, Furthermore.
amount Oh gold that London and Paris will
nave TO surrender before the requirements
here in connection with the condition of
exchange are fully satisfied. The August
foreign trade statement on Wednesday
last, indeed, presents an explanation of the
movement, the fact that the excess of ex,
ending August 31st attained a value of
nearly $10o 100000, and indicates a change
for the better in our foreign trade of some
sl36, O00OOv, being calculated to set at rest
any doubt as to the entirely legitimate
character of the gold-shipping transac-
tions.-Bradstreets.
ports of grain from the United States: I'VE
have more than once of late referred to
the the eonsderable iarivals Of wheat and
season, which have been accompanied by
great falling off in the landing of these
comm1odiNes ,,ea,t1SN from other quarters. We
arrivals during August showed only mod
crate decrease, while the reduction in the
imports from other countries was very
large"
Consul Stang writes the department of
state from Saigon, Cochin China, that the
Wa hougRt prossbe deom few
weeks ago. The Hong Kong market has
declined, while the Saigon market re
mans Y % fm bs Exports from sss
pounds, as compared with 93S. .1s4, ,694 pounds
during the corresponding season of last
year.
A Kansas City packing house is reported
to have received an order direct from the
japanese government for IS carloads of
gest ever received there and will be ready
for shipment within ten days. This i'm
mense shipment of beef is believed to be
for use in the Japanese navy.
The Philadelphia Press says: Buying
of commodities on a large scale has at last
begun in anticipation Of an advance in
prices. Pig iron. wheat, wool. leather.
hides and cotton have been bought in this
way by far-sighted men,"
The government report on damage to
cotton has advanced the price. Steady
weather may increase the crop, and the
Philadelphia press thinks that In the light
of last year a total crop of 100000 bales
will meet the worlds demands. "The av-
erage world consumption of cotton for sig
years has been (bales of 400 pounds) 11,93S.-
600. and last years crop gave the world
from all sources II, 100000 bales. A like
crop will do the same. and the supply car
ried over. visible and invisible, is 2,3S0 900
bales. Unless a great expansion takes
place in manufacture supply will equal
the demand"