New-York tribune., 1896-10-26
MONEY AVID BT STNESS.

MONEY AVID BUSINESS
While Armour and various spectators at Chi
cago engaged in what seems to be duel To
the death wheat continues to move in enormous
quantities. The lake and rail shipments from
Chicago ~ G2G tons are the largest since 1892:
the outgo from Portland Is the heaviest ever
known twenty cargoes going TO England
alone this month. besides twenty-eight more
row in port engaged for wheat; San Fran
cisco sent twelve cargoes In the first half
Of the month. and had forty-fIr ships
Of g., -yW tons in the grain loading list;
the -four output at Minncauolis alone was
81 800 barrels last week and at four West
ern points Jt1 .O~o barrels with n strong foreign
demand. and the Atlantic exports hav" been
$40 2i3 bushels. -four included. against ',oN6,-
.,SS last year. This follows exports Of ~. l''-I?
bushels for the first quarter. against l].''2oo-"
last year. There IL "a slight declin" IN Western
receipts this month. which have been II. 10
bushels against - 3O';I JiI last year. and West
.rn dispat hes state that In some quarters farm
.rs are holding back their grain I'm expectation OF
higher prices but for the crop year thus far the
Western receipts have been 7SWoooo bushels.
agalnst a. SiUWU last yea. While the Chicago
struggle has brought fan Of over , cents last
N.
were TWO weeks ago. and the engagements OF
freight room FAR ahead from Atlantic ports indi-
cat. tha, foreign purchases have been unusually
heavy.
Cotton also advanced "A sixteenth and the De
cemher option an eighth. notwithstanding re-
markablv heavy receipts 2'ai' ~ bales having
come into sight thus far. against l9IG.IN' 10
dat. last year. The quantity which has come
into sight in october IL lttl" larger than last
year and the exports are nearly n third larger
the total for the crop year having been .t'."2'
bales. against lNoS1s las, year. The takings ~
Northern spinners. 1Gii bales for the month.
against 49,, 80, last year. continue :" indicate
that the mills ar. accumulating goods FOR an cx-
pectrd increase Of demand and the print cloths
on hand at Fall River and Providence amount 10
2l12WO pieces. having increased about 2'.WD
during the week but "A littl. better demand is
scen In STAPLE goods There IL much incr"dulty
about the large estimate made by Mr.. Neill. and
the killing frost In some parts OF Mississippi and
Tennessee may make some difference: but the
market IL apparently hindered from advance
mainly by the indisposIton Of lenders Ia take
large risks until after the election.
The exports Of cotton have done Their part In
making a heavy excess Of merchandise exports
over imports this month. thus bringing more
gold hi,her The merchandise exports from New
York alone have been II, per cent larger than
last year In three weeks Of October and the cot
ton shipments from other ports have been nearly
ST. 900 900 larger In value than last year 40 that
the total exports FOR the month VIII probably
reach S91 900. or even more. But imports
here which are about two-thir1s Of the total at
all ports. have been 2Sj per cent less than last
year. indicating decrease in the total to about
$G4. .WO.mo. and "A balance probably exceeding
So, 900 UW to be met by movement Of specie.
How much has already been imported against
goods shipped this month can only be conjcct-
urcd but the advance in the Bank Of England
rate to per cent indicates that the shipments to
this country still expected to be heavy. az the
Rank IL cndeavoring to force the supplies to be
taken from other countries.
Wall Street has been discounting the election.
and stocks have risen average OF 81 90 for rail-
roads and 81 ~ for trusts. The sales have been
larger and more widely distributed than In pre-
vious weeks. and while three trust stocks ac-
counted for nearly :m.Om shares nine railroad
stocks accounted for about GW,OW more There
are some who begin to question whether n set
back is not to be expected. as the rise has been
considerable since October -. but II IL to be
remarked that there Is vast amount OF money
held waiting until after the election. which will
then he unlocked and seek investment. It Is
true that activity In trade and manufacture will
require most Of It. Eut those who have studied
foreign financial opinions most closely believe
that there are now waiting many millions OF for
eign capital to be invested here as soon as II Is
definitely known that sound money and protec-
tive principles will control all branches OF the
Government.
/ The great Industries are beginning to feel the
effect Of increasing confidence and In nearly all
OF them there IL some gain In the demand for
products. while tendency toward higher prices
Is no longer confined to the raw materials The
price Of Bessemer pig at Pittsburg Is a shade
lower and wool IL a little stronger with sales Of
o. DO 300 pounds for the week and in three weeks
20 765 800. against ~. 1856 $50 last year. and 49,
4S1 $50 In 1892. a great part OF the wool con-
signed To Eastern markets has been withdrawn
until after the election that there is practical
scarcity Of many kinds. 1t can hardly be said
that the demand for goods has improved much.
though more mills at work preparing for the
expected future demand The buying OF hides
has advanced the price little more at Chicago.
and the average there has now risen about 10
per cent since the last week In August Leather
was also raised again. and its advance since the
first week OF September has averaged about "a
per cent. The demand for boots and shoes Ia q
trihe better. although most dealers are very re-
luctant to pay the small advance In prices asked.