The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-10-24
POLITICS TRADES PLAGUE.
,rsINEsS HELD BACK PENDING
THE ELECTION.


rbe outlook fright for Better Bust |
ness After the Presidential Com
..st Is SettIed-The Fluctuations
=, the Price of Wheat the Feature
of the week-StOck Values at New
work Advanced on Professional
operations.
Now York, Oct. 2s.-Bradstreet's to-mor-
"a, will say: General trade is along con-
4 ..r,ative lines buyers and sellers pre-
i ICING to defer business until after the
4 .,sction Traders are more hopeful as to
4 -. outlook for business later in the year
"a next spring. The reaction in wheat
-4.os after an advance of % cents, is the
s,,pral result of a desire to realize profits,
& advance In the rates for money and
Fl ,rr,ously heavy receipts of wheat at
& sr,D,arv markets caused by higher prices.
,.n,naratively small stocks of wheat in
Earring countries, a decrease in the
--,rl5's total production of wheat for two
..-s in succession, unexpected shortages
. pussia. India, Argentine and Australia
and only an average crop in the United
C,o+es are interpreted to mean that the
.rice of wheat will advance further. Corn
arioes svmpathized with wheat quotations
and the only other two prominent pro-
s,cts prices for which are lower, are APP
niles and cotton seed oil.
ostock values at New York have adj
vanced on professional operations, re-
4 eecttng the expected political outcome ana
the favorable grain situation. There is
little public or foreign support and large
interests are generally conservative, in
Jew of the uncertain condition of the
money market between now and the cleo
ton.
"Nercantile collections continue as DIFF
ecuit 10 make as heretofore, except In
few of the larger cotton-growing states
and in the spring wheat region, where
rand marketing of cotton and of wheat
has rendered funds more plentiful. There
is a disposition on the part of planters TO
hold cotton for an advance. Total bank
clearings in the United States increased,
amounting to 81, 047 1000 this week, about
( per cent. more than last week, but 10
per cent. less than in the third week of
october, 1888.
ed throughout the United States this
week, which Is thirteen more than last
week and thrty-three more than in the
corresponding week last year."
R. G. Dun & Co.'s weekly review of
trade says: The event of the week has
been the sensational advance of wheat
to 50 cents for cash on Tuesday, a rise
of 519 cents. and its fall to n on Thursday,
gaining 15s cents on Friday. The rise
was magnified by covering of specula
tive sellers who imagined the advance
had gone too far, but was at bottom based
on an extraordinary foreign demand,
which has engaged grain vessels from all
Pacific as we'll as Atlantic ports for
months ahead. How great the shortage
in ordinary European supplies may be is
the point of doubt and speculation, but
none now question that the
shipments from the Pacific coast
to India and the decrease in
the Russian yield are important, and
the buying of enormous quantities for ex-
port, with engagements of freight room
at higher rates, express the belief of Eu-
ropean dealers. Wheat exports of the Pa
cfe coast are large and over 500, 900 bushels
per day have been engaged ahead for
some time. The Atlantic exports, about
10000 bushels larger than last year for
the week, have been in October $50, 261
bushels, flour included, against 5,OS6, 1888
last year. Corn moves largely and at
lower prices, having declined a cent for
1he week.
Cotton has advanced a sixteenth, to
& cents, with only moderate transactions,
and heavy receipts from the plantations.
Estimates of the yield vary all the way
\ from Mr.. Neil's 100000 bales to much
less than 100000, but the impression
grows that the yield will be large
The most striking feature of the in
dustral returns is the number of con-
tracts conditioned upon the election.
These already are enough to make bust
ness rather lively for a time, and many
others will probably be held back until
Nov /.
Buying of Bessemer pig at Pittsburg
caused slight advance at Pittsburg,
and all markets are strong for pig, but
not for finished products. Very low
prices are made for speedy delivery by
mills wanting work. But the tone of
the market is better, and a decided in
crease OF orders appears in plates, about
o,W0 tons for building vessels on the
lakes and in structural work at the west,
owing to contracts taken at Chicago for
puldlngs at Boston, Toronto, Detroit and
minneapolis. There is also a great de-
Hdhd expected for cars, and the bar as
sociauon offers to sell iron until Nov. 6
10 JoDberS and large buyers at 105, while
steeI bars are selling largely at cent.
a reduction in nails is expected. But
the rail- season is over, and the billet
pool has little business
Inc movement of currency to the Inter-
LOT mas been only $500, 900 for the week,
ana the market for commercial loans has
neeh dull The volume of business shown
Dy exchanges has been 81 per cent. less
IN 1892
Failures for the week have been 274 in
the United States against 2S1 last year,
ana % IN Canada, against 3S last year,