The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1896-11-07
ouN'S COMMERCIAL REVIEW.

Nthh ONL IOllLlC5 LO
Ruie and business Almost Abolished
An Extraordinary Pressure for Money
Prevails, with an Indisposition to Sell
In Hopes of Soon Realizing Better
Prices.
NEW YORK, Oct. AR G. Dun &
Co., IN their weekly review of trade,
say:
A market without anything but pol
ltlcs to rule it is o often satisfac-
tory. business is almost abolished
until after the election by the extraor-
binary pressure for money, but the in
disposition of anybody to sell who
thinks a great change for the better
Is near, by the feeling that it is now
of no use to contract or buy when SO
little time remains before Il decision
and by the general absorption OF bust
ness men in political activities. The
indications show a gratifying conf
dence in probable things, but an enor-
nous volume of contracts and orders
depend upon the election, and while
prices of materials are strong, with
heavy speculative buying, the absence
OF demand makes products generally
quiet in price, though with evident
expectation of strength.
The feature of the week has been
the pressure in the New York money
market in spite of the heavy arrivals
of gold. Quotations of call loans at
100 per cent. or more nave no real
meaning except that, with practically
four holidays to come in succession,
there is really no market. CONNER
cial loans are almost a lost art, except.
as banks sustain their regular Gus
toners, which they do generally with
Il fair degree Of liberality. The
boarding or engagement of gold to
provide against contingencies has far
surpassed all records and in exchange
bough: ahead gold actually with
drawn and contracts to deliver gold
if required, probably exceeds in
amount 500, 900, 010. The makers
of contracts to deliver gold on demand
have imported over So 600, 900, it is
believed, and ordered S5UD, 900 more
this week. These Withdrawals Of
gold from banks for temporary deposit
elsewhere, or by country banks at the
demand of customers have been quite
heavy, and the buying of foreign ex-
change has mad the market entirely
abnormal and quite out of relation
to the eX sting state of foreign trade.
The railroad earnings in October have
been 81 per ceat. less than last year.
Wheat has declined sharply, but is
rising again, closing about one-half
cent lower for the week. Heavy rea.
LIKING on spot sales, extreme monetary
pressure i'll carrying supplies and be-
lief of foreigners that they can get
what they want at lower prices by
present abstentiun have materi-
ally helped the powerful Chicago
influence which has labored to de-
press prices. But the evidence of
great demand abroad grows clearer,
und While western receipts are heavy,
1869, 927 bushels for the week, and IS
$50, GA for the past foul weeks, against
81, $50, 964 last year, the enormous mil
ling returns are OF especial value,
showing that foreign orders are pre-
pairing a great quantity of flour for
export. These returns, not hereto
fore given elsewhere, will be espe-
cially instructive whenever the mar
ket turns on foreign demand. Allan
tic exports for four weeks, hour in
cluded, have been $685. bushels,
against 6,255, 412 last year. Higher
prices are really less important to the
American market than the news of
the decreasing supplies from Russia.
Cotton has held up remarkably well,
in spite of trade estimates that the
yield will be close to 5000, 900 bales.
The trade believes such estimates
erroneous and also believes that pres
ent prices will not be found too high
if with such a crop there should be
good business in this and other coun-
fries.
The mills are selling staple goods
somewhat preedy and print cloths are
a shade higher, but there is neither
much selling nor much effort to buy
goods of other descriptions. The
speculation in wool continues and has
continued during the past four weeks
2S,32l, 100 pounds, against -, rs, $50
last year.
Iron has been bought largely by
Spectators, %, 900 tons of Bessemer at
Pittsburgh raising the price to 100,
large quantities of gray forge raising
the price 1910, and 200, 900 tons, nearly
all of iron, at Chicago.
Failures for the week nave been 270
in the United States, againsC 27S last
year, and 30 in Canada, against 81 last
year.
THE MANITOBA SCHOOLS.