The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-10-26
CONDITION OF TRADE.
Bradstroet's Says It Remains
Conservati. .,
WITH TRADERS MORE HOPEFUL.

small Stocks OF Wheat I'm Importing Coun-
tries. Together with an Unexpected
Shortage In Europe and Only an Average
Yield In the United States. Indicate That
the Cereal VIII Advance still Further
Stock Market Shows Buiiish Tendency.
New York, Oct. 90 -Bradstreet's says:
General trade continues along conserva-
live lines, buyers and sellers preferring to
tefer business until after election. Traders
are more hopeful as to the outlook for
business later In the year and next spring
The reaction In wheat prices after an ad.
vance OF 22 cents Is the natural result OF a
desire TO realize profits. an advance In
rates for money, and enormously heavy
receipts OF wheat st primary markets
caused by higher prices Comparatively
small stocks of wheat in importing coun-
tries, a decrease in the worlds total pro-
auction Of wheat for two years in sue.
ression, unexpected shortages In Russia.
india. Argentina and Australia. and only
an average crop in the United States are
| Interpreted To mean that the price Of
wheat will advance further
The total exports OF wheat, flour In
cluded as wheat. from bo'h coasts of ihe
United States and from Montreal this
week are not quite as rye as last week or
for four preceding weeks. but are heavier
| than In corresponding weeks In three pre-.
ceding years. amounting to 3,s2y 600
bushels as compared with 4l56,0O0
bushels last week. 265S, 900 bushels In the
corresponding week one year ago. 1883, ,0O0
bushels two years ago. 3,327. 0OO bushels
| three years ago, and 4,07S. 900 bushels In
the third week of October 1922
Exports of Indian Corn.
Exports OF Indian corn continue heavy,
| amounting to 2,S97,0O0 bushels for the
week, 80 per cent. more than last week,
| moro than twice as much as In the week
one year ago, thirty times much as In the
corresponding week OF 1894, and three
| times as much as was sent abroad in the
| Ike week Of 1898 and In 1892. Mercantile
collections continue as difficult to make
| as here ofore, except In few of the larger
| cottOn-growing ste ties and In the spring
whe Z region, where rapid marketing Of
| cotton aud of wheas has render ed funds
| moro plentiful.
There are 292 business failures reported
| throughout the United States this week,
which Is thirteen more than last week
thirty-three more than In the correspond
| ing week last year, and s,venty-one more
| than in the like week OF 1894, but thirty.
seven fewer IN n in the third week Of
October lS9I There were forty eight
business fa ures reported throughout the
Dominion of Canda, as compared with
thirty last week and with thirty six re-
| spectively ir each OF the corresponding
weeks of 1895 and 1894
Speculative Tendency Is Dullish. 49,
Bradstreets Financial Review says
While larger interests in the markets
| maintain conservative attitude, the tone
| this week was bullish. and the tendency
of speculation has generally been towards
| higher prices The market Is narro "
one and the buying has been furnished by
covering OF shorts. plus scattered opera
| tions on the bull side by smaller traders.
The favorable accounts Of the political
outlook, the phenomenal rise in wheat
and the large gold engagementsall tended
to create bullish feeling In the street, and
IL should be noted that the market was
unaffected by he sharp reaction of wheat
prices or by the advance In the Bank of
England rate to por cent, causing, as it
did, rally in exchange that for the tima
being put another check upon gold iLl.
portations.
| Advance Was Expected.
The advance Of the Bank of England
rate from TO per cent on Thursday
was fully expected. and neither that ac-
ton nor the rise In the open market quo.
tations there to 81 per cent. for discount
has produced any speculative disorgani.
sation. Among the most satisfactory In
| iications OF the week was the strength Of
and advances In tho bond list. Govern
ments were indeed a feature, the new 4s
rising from ll5A to ll7l4, while both In
yes ment and speculative issues Of railroad
mortgages have generally been higher.
| Another circumstance worthy Of notice
is that New York exchange seats are
quoted this we * at sls,00o, an advance OF
several thousands over the last transfers.
Fridays market was strong and advanc-
| ing till the last hour. when the taking of
81, 300. 900 In gold from the treasury caused
| n halt a nd SLIGHT reaction