The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-10-17
BIG BUSINESS PROSPECTS
Increased European Demands for Wheat
Are Sure TO Bring Good Re.
sults...ImpOrts Decreasing.

New York, Oct. 1G.-R. G. Dun & Co.
| will say tomorrow in their Weekly Re
view of Trade:
Gold commands small premium.
| The most powerful force in business at
present is a conservative timidity, and
the foreign bankers who have been Of
fering for small percentage to en-
sure people against premium on gold
until December. have made an early
and sure profit out of prevalent appre-
tensions. From Kansas, Nebraska and
other states where the silver agitation
is said to be strong, come orders by
many bankers and business men to get
| them gold at small premium and
| there has also been some demand for
boarding from individuals in other
states who are afraid over their own
best judgment.
The one commercial changes which
! more than any other. ensures better
! business in the near future, is the ex-
cess of merchandise exports over i'm
| ports.
In two weeks of October the exports
| from New York have increased 30.6 per
cent. against 3l2 in September, while
| imports have decreased "a per cent.
| against 35.2 in September Continued
shipments of gold from Europe, not in
Guiding $4,000,000 from Austria now
amounts to $50, 9,250.000 since the move
ment began, of which $50, 250, 900 has al
ready arrived and have not been ar
| rested by measures taken by the great
European banks.
The heavy movement of grain Is the
corner stone. After an increase or
| 5,923,675 in exports of breadstuffs in
September, there have been shipped
the past week from Atlantic ports
n, hnc
and 4,203, S45 in two weeks of October
against 3.51O2l7 bushels last year. A
more important fact is that all avail
able grain freights have been engaged
for months ahead here and on the
| Pacific coast
The minister of agriculture In India
stated in council on Thursday that dis
tress was expected in large part OF
India as the result of drought. A high
official of Russia, now in this country,
confirms accounts of shortness in the
Russian yield. Thus estimates that
Europe will fall 100, 100000 bushels short
of last year in supply of wheat are
strongly supported, and while depart
ment estimates of yield in this country
are not credited, there is every reason
to expect a remarkable foreign demand
Wheat has advanced Az cents for the
week.
Confidence as to the future makes
trouble in sine industries because spec
ulation in materials raises prices so
that demand for finished products is
checked.
Boot and shoe makers get very mar
row orders at old prices, or at an ad-
vance less than / per cent. Difficulties
threaten on the iron manufacture, for
pig Is higher, bessemer at 1850, and
grey forge at 975 while plates, angles
and beams are weaker and various
combinations hold prices only by leav-
ing outside competitors to take them
as far as they can. Steel bars are
largely sold at l cent, while 1.2 Is de-
manded for iron; all the nails that out
siders can produce are sold at less than
the association asks; billets are still
sold for less than the pool price and it's
shipments in September aggregated
only $4,000 tons, mainly Of sheet and
tin plate bars; the demand for rails Is
growing small.
Wool Is stronger, with continued
speculative buying, and sales at east
ern markets have been 1886. 300 pounds
for two weeks, against 21,209, 700 last
year and 1902, 800 in 1892, but con-
signed wool has been mostly with
drawn until after the election.
The cotton manufacturers have also
started more spindles, but the demand
for goods scarcely increases, and print
cloths sell at 2.56 cents.
Failures for the week have been 32S
in the United States against 263 last
year, and 40 in Canada against 46 last
year.