The herald., 1896-10-31
COMMERCIAL CONDITIONS
As Seen and Reported by Ex-
pert Observers
ALMOST NOTHING IS DOING
Brokers and Buyers Waiting Till EIec-
tlon Is Over
The Belief Prevails That Good Times
Are Coming, Whatever May Be
the Result of Balioting
Associated Press Specia, Wire

VIII say. He UldIhtl NllIoil ttiiy INNS
but politics to rule it is ont often seen.
Business is almost abolished until after
election, by the extraordinary pres
sure of money, by the indisposition of
anybody to SELL who thinks great
change for the better is near, by the feel
ing that 1t is now of no use TO contract
to buy when so little time remains be-
fore a decision and by the general alb
sorption of business men in political ac-
tivity.
The feature of the week has been the
pressure in the New York money mar
ket, in spite of the heavy arrivals of
gold. Quotations of call loans at 100 per
cent or more have no real meaning, ex-
cept that with practically four holidays
to come in succession there Is really no
market. Wheat has declined sharply,
but is rising again, closing about one
half cent lower for the week. Heavy
realizing of the spot sales, extreme
monetary pressure in carrying supplies
and belief of foreigners that they can
get what they want at lower prices by
present abstention have materially
helped the powerful Chicago influence
which has labored To depress prices.
But the evidence of great demand
abroad grows clearer. and while west
ern receipts are heavy, 7,562,927 bushels
for the week and 2S.7J6,644 for the past
four weeks, against 81, 15O 964 last year,
the enormous milling returns are of es-
peclal value, showing that foreign orders
are preparing great quantity of -four
for export. These returns, not hereto
fore given elsewhere. are especially in
structive Whenever the market turns on
the foreign demand. Atlantic exports
for four weeks, hour included, have
been S,0Z6.o5S bushels, against 6255.412
last year. Higher prices and actual
famine in parts of India have a specula-
tive bearing. but are really less impor-
tant to the American market than the
news OF the decreasing supplies from
Russia.
The speculation In wool continues and
has taken during the past four weeks
2S,o2looO pounds against 29,7GS,S50 last
year. and 26.53S, 053 in 1892 althous> less
than half the capacity of the mills Is
employed.
It is gratifying feature, however.
that about twelve establishments have
started during the week in confidence
that business VIII be larger hereafter
There is as yet only a slight improve
mert in the demand for lightweight
wooens. Iorn has been bought largely
by Spectators. $4,000 tons OF Bessemer
at Pittsburg. raising the price to II so.
the large quantities of grey forge raising
the price to 5000 and 10000 tons nearly
all of northern. at Chicago. Finished
products unchanged In quoted prices,
although quotations are less shaded
than than of late to secure busiress and
there is strong belief that after week
there will be a marked change. She
known orders deferred until after the
election would by Nnselves suffice to
employ the works Tor a considera bic
time.
Failures for the week have been go IL
the United States, agairst IS last year
and 40 in Canada. against 50 last year
BRADSTREET' S REPORTS
NEW YORK, Oct. 30--Bradstreet's
review of the stoc! market Will say: The
condition of the market has been a
dominating feature in stock speculation
this week. 1t cannot be said that Wall
street ertertains doubts as to the defeat
of the free silver cause next Tuesday.
Nevertheless the large interests in the
street have taken a conservative atti-
tude ana ale unwilling To encourage any
extended speculation on the eve of IN
event with such far-reachinS cOnse-
quences. TIE banking community is i'm
bued with the same IDEAS. though at the
close of the week the fear of decided
disturbance brought about concerted ac-
tion by the banks and supplies of money
from this source. though only put out a
top rates, relieved the fears of the mar
ket and caused prices to rally. The
foreign markets have shown nervous
ness over the outlook here London has
been regaled with contradictory reports
as to the political probabilities in this
country, some Of them coming from
sources friendly to free silver Tne
whole Lordon stock market is awaiting
and American stocks are depressed,
Whila fnreipn q Ja,.
to some extent although on Friday
there was a decidedly better feeling
there and an Improvement in quotations
for our stocks. The money markets
abroad are firm and the Bank of Eng
land, while it did not advance it's rate,
has shown a disposition to keep the
open market firm.
Bradstieet's general review of trade
will say:
Business in staple lines is confined to
immediate wants, interest in the cleo
ton absorbing attention The volume
of trade Is smaller than week ago and
will continue restricted until the results
of the election are known. Advices from
important distributing centers. report
that leading commercial and industrial
houses take hopeful view of the busi-
ness outlook and expect an early revival
of demand. based on the anticipated
success of the sound money issue. An
eiicOuIdSlHS feature Is IuItEer aO-
vance in the prices of leather, wool, Bes-
semer pig iron wheat, Indian corn, lard
raw and refined eugar and crude and re-
fined petroleum. The total exports of
wheat, flour incluLed as wheat, from
both coasts of the United States amount
to 900 bushels'ths week, exclusive
of shipments from Galveston, no report
of which has been received, compared
with 4, 067 900 last week; 2, 743000 in the
last week of October 1895; 1884 900 bush
els in the like week of 1894 Exports of
Indian corn amount to 3.59300O bushels
this week, nearly 100000 bushels less
than last week, one third more than in
the corresponding week of 1895, gfteen
| times as much as in the corresponding
period of 1894 and three times as much
as in the like weeks of 1893 and 1892.
| Mercantile failures throughout the
| United States have declined in num-
Der this week, the total being 246 against
! 2s2 last week, 299 in the same week one
year ago, 1853 in the corresponding week
| two years ago, and as compared with
1858 In the like week of 1898.
| There are 81 business failures reported
| from the Dominion Of Canada this week,
against 46 last week, and like number
in the same week a year ago. but as
compared with 46 two years ago.