The Ely miner. [volume] (Ely, Minn.) 1895-1986, 1896-10-21
TRADE REVIEW.
Small Premium Commanded by Goblin.
crease of Merchandise Exports.

Small Premium Commanded by Gold-In.
crease of Merchandise Exports.
New York, Oct. 17.-R. q. Dun d Co.
in their weekly review of trade. say:
Gold commands small premium. The
most powerful force in business at pres
ent is conservative timidity. and the for
eign bankers who have been offering for
a small percentage TO insure people against
O premium on gold until December have
made an easy and sure profit out OF preva-
lent apprehensions. From Kansas, Ne
braska 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 hoard
ing from individuals in other states who
are afraid even of their own best judg-
ment.
lone commercial change, which more
than any other insures better business
in the near future. Is the excess Of mer-
chandise exports over imports. In two
weeks Of October the exports from New
York have increased 30.6 per cent, against
31.2 in September, while imports have in
creased "a per cent, against 35.2 in Sep
TENDER. Continued shipments of gold from
Europe, not including 100000 from Aus
tralia, now amount to $59,250,000 since the
movement began, of which s52. $780, 600 has
already arrived, and have not been arrest
ed by measures taken by the great Eu-
ropean banks
THE heavy movement of grain is the
corner stone. After an increase of IS, 923, 675
in exports Of breadstuffs in September
there have been shipped the last week from
Atlantic ports alone 2,134,74 bushels flour
included, and 4,203, S45 in two weeks of Oc-
tober, against 3,510,271 bushels last year.
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 distress
was expected in a large part of India as
the result of droughts. A high official OF
Prussia now in this country confirms &C
counts of shortness in the Russian yield.
Thus estimates that Europe will fall 100.-
DOC, 900 bushels short of last year in supply
of wheat are strongly supported. and while
department estimates of yield in this coun-
try are not credited, there is every reason
to expect a remarkable foreign demand
Wheat has advanced AZ cents for the week.
Boot and shoe makers get a very mar
row margin at old prices, or at an advance
of less than per cent. Difficulties threat
en- the iron manufacture, for pig is higher
Bessemer at $11.50 and gray Jorge at s9.75
at Pittsburgh, while plates, angles and
beams are weaker, and various combina-
; lions hold prices only by leaving outside
; competitors to take the market as far as
they can. Steel bars are largely sold al
/ cent, while IL is demanded for iron; all
the nails that outsiders 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 ag-
gregated only $1,000 tons, mainly on sheet
and tin plate bars. and the demand for
rails is growing small.
Failures for the week have been 1928 in
the United States, against 262 last year
and 40 in Canada, against 46 last year"