The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-08-22
IN THE BUSINESS WORLD.
Merchandise Exports in Excess of
the Imports.
WHEAT ADVANCED BY SPECULATION
Alarm of Destruction Of Cotton Worked
Vigorously Failures In the
Lumber Trade Notes.

New York. August ol.-R. G. Dun & Co.'S
Weekly Review of Trade says: Political
events of the week had no definite in
tucnce uron business prospects, as the
phenomenal variations in sterling eX-
change and the beginning of imports of
gold may be fairly attributed 10 the &c
cumulating excess of merchandise exports
over imports to which attention has been
repeatedly called. exports from New York
for the past two weeks having been &C
per cent larger and imports mere 20 per
cent smaller than last year. The RAJ i'd
movement of grain and the unusually
early marketing of cotton tend strongly to
aid the banking syndicate which has IN
dertakcn TO regulate foreign exchange.
Speculation has advanced wheat over
L. during the week, corn a small fraction
ana cotton sc, the principal moti"e power
teing reports OF injury to growing crops.
As before. the uniaNorablc accounts con-
corning wheat are in some measure DIS
created 10y the continued heavy move
meut from the farms Western receipts
have hecu 1851 l37 bushels in two weeks.
against 6.1ba 3GS bushels last year. with
prices per cent lower than last year.
the movement cannot be interpreted as
SIGN of deficient yield. Ihe Atiahuc ch-
ports for the same weeks have been, flour
in indcd. iSg2.6jU bushels, against 2.'ao, 253
last year. and while the increase is on
| &c raging 1t scarcely corresponds WIN
current accounts of deficient yields IN
some foreign countries. The movement OF
/ corn continues heavy although the price
/ l. ill 20 low that one wonders why the
I product Is put into cars instead oi into
/ hogs.
| me alarm about destruction Of cotton
! has been most vigorously worked mere
and dhrotd ard has rapidly raised tn"
price, although It Is yet to ne seen
/ whether jhc Weld has been far diminished
az TO warrant u price nearly cent higher
/ than year ago.
Some additional heavy failures in the
! lululer trade cali attention TO the CON
( lMr,l depression wh:Ch appears to result
| az lra~t. ~ part. from expectations vlitcf-
! nircl hy many that unlimited building OF
/ the last year 81 Two would he permanent
/ The iron and steel manufacture Is the
/ only condition of depression 10 report
! BeSsomer pig has sold mt 500 AZ Iitts-
/ burg, while southern IRON is offered at
/ prices equivalent 10 so at New York.
and nearly oil finished products are he
ms sold helow the current quotations
| There is rapid curthilmcnt in the pr1duc-
! ton tho Illinois steel company having
| only seven Of its furnaces at work. but
H. spite of this the supply of finished
| products appears to greatly exceed the
! demand for them The hrlgh; spot is "A
| sale OF 1900 tons OF steel % Japan for re-
ittins railways in that country, which
makes an aggregate OF 5000 tons exported
| during the year
Nothing encouraging can yet be said Ie-
| gardine he WOODEN MANUFACTURER and even
at recent reductions in prices the supply
IL sim diSappointinEly small sales of
wool at the three chief markets have been
only 7.37po10 in three weeks against 16
$4,000 last year and 2lS6l.iO0 in the same
weeks Of 1892.
a heavy auction sale OF cotton goods
hrou-h, prices which were considered
quit" encouraging arA the current de-
mln1 is fairly maintained, although the
mills are not inclined to make large CON
tracts for tho future in view of the rise