Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1896-11-05
puN.s MONUMENTAL REVIEW.

A Market with Nothing but Politics TO
Ruie and EsuSsness Almost Abolished
An Extraordinary Pressure for Money
Prevails. with IudisposlfiOn TO Sell
In Hopes OF Soon Realizing Better
Prices
NEw YORK, Oct 31.-R G. Dun *
Co., in their weekly review of trade,
say:
A market without anything but pol
itics TO rule 1t is not 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 great change for the better
is near, by the feeling that it is now
of no use to contract or buy when sc
little time remains before a decision
and by the general absorption OF bust
LESS 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 beer
the pressure in the New York money
market in spite of the heavy arrivals
of gold Quotations of call loans at
loo per cent. or more have no real
meaning except that, with practically
four holidays to come in succession,
there is really no market. CONNER
ciai loans are almost lost art. except.
as banks sustain their regular Gus
toners, which they do generally with
a fair degree of liberallty. The
boarding or engagement of gold to
provide against contingencies has far
surpassed all records and in exchange
Dough: ahead gold actually with
drawn and contracts to deliver gold
if required, probably exceeds in
amount 500, 900, 900. The makers
OF contracts to deliver gold on demand
have imported over SIO.OOO,OOO, it is
believed, and ordered S5Op. 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 made 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 cent. less than last year.
Wheat has declined sharply, but is
rising again, closing about one-hat
cent lower for the week. Heavy rea-
LIKING on spot sales, extreme monetary
pressure in carrying supplies and be-
lief Of foreigners that they can get
what they want at lower prices by
present abstentiOn have materi-
ally helped the powerful Chicago
influence which has laOOred to de-
press prices. But the evidence Of
great demand abroad grows clearer,
and while western receI pts are heavy,
1862, 921 bushels for the week, and 2S,-
$50, GA for the past four weeks, again st
Sl,l5O, 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, flour in
| cluded, have been s,O36, 55S bushels,
Os@ISFf4~ 41SL year
prices are really less important to the
/ American market than the news of
! the decreasing supplies from Russia.
Cotton has held up remarlSa bly, well,
in spite of trade estimates that the
| yield will be close to 1900, 900 bales.
! The trade believes such estimates
/ erroneous and also believes that pres
( emit prices will not be found too nigh
/ 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
I speculation in wool continues and has
! continued during the past tour weeks
/ 1921, 100 pounds, against %, 7SS, $50
/ last year.
/ Iron has been bought largely by
/ Spectators, 25, 900 tons of Bessemer at
/ Pittsburgh raising the price to 11.9O,
large quantities of gray forge raising
! the price TO- 40, and 2OO, 900 tons, nearly
/ all of iron, at Chicago.
| Failures for the week have been 2TO
/ in the United States, against 27s last
I YEAR and An i'm Canada AGAINST - Ia +