The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-10-10
TRADE INDICATIONS
ARE FRIGHTENING
Much Business, Though, Is Withheld
Pending the Elections Result.
CAUSE OF THE ADVANCE IN WHEAT
Shortage in Indian and European
Grain Supplies Braces the Demand
for American Cereals..The Metal
Market Is Practically stationary.
Gold Movements and Failures.

New York. Oct. 9.-R. G. Dun & Co.
will say tomorrow in their Weekly Re
view of Trade: Distinctly better con-
Gitions have appeared of late, ana are
reflected in a somewhat larger employ
ment OF labor. in larger transactions,
and In continued buying of materials
for manufacture. A great part of the
change is due to those resistless laws
of supply and demand which take
wheat where it is wanted, and gold
where 1t Is wanted. India is waiting
for carsoes of wheat on the way from
the Pacific states, just as Australia
and South Africa were not long ago.
The surplus usually available from
India disappears, and the surplus from
hussia and European countries Is re-
due, d, according to late estimates, TO-
100000 bushels.
Happily this country has a supply
which official accounts have not cor
:ectiy measured, if actual movements
do not greatly mislead. Western re-
ceipts for the week were 7,243,69 BUSH
els against 7,35l,474 last year. and this
follows an increase of 14,00O,O00 bushels
in receipts during the quarter ending
September 30. Atlantic exports, 2,O69,-
0Il.96l bushels, flour included, for the
week against l, 1866 500 last year. are not
yet SO large as to force prices upward
if European buying based on European
needs did not control our markets.
feature of Importance. too, is the un-
usually heavy foreign demand for corn,
which is a rarely failing sign of de-
fcient crops abroad, where other grains
are used instead when wheat becomes
scarce and deficient.
OTHER TRADE FEATURES.
Re ilroad earnings, amounting to $685.
1l5,3iS in the United States for Sep
tember. show a smaller decrease than
in August-1-3 per cent. against 81
compared with last year.
Iron furnaces in blast Oct. | had
cape city of 112,7S2 tons weekly against
!.J.5O0 Sept. l and 2l7.S0S Nov. / last
year, while unsold stocks decreased 35,-
$50 tons, but II those of steel making
concerns were included would prob
ably show an increase. Buying of ma
tcrials continues, but bessemer is a
shade weaker. $ll.40 at Pittsburg. The
demand for products is so light, and
so much business Is held back pending
the election, that decreasing output is
not an unhealthy sign. There is quite
a good demand for sheets. especially at
the west, and rather better for pipes,
and outside concerns are getting large
contracts in steel and iron bars and in
nails. but prices have not been re-
duced.
Minor metals change little, with
slightly better demand for copper, lead
quiet and tin weaker because visible
supply--35, 400 tons is 5000 greater than
year ago. Some competing Ameri-
can manufacturers are making large
sales of 1l-pound tin plates at $500
More gold has been ordered from Eu-
rope. SO that $4,0OO,OOO is now on the
way. Speculation in stocks has yield
ed d little-about $1.13 for railroads and
81 cents for trusts. The outward move
ment Of money to the interior has been
Si.O0O.0O0 for the week and little is do
ing In commercial loans. with rates
about one-half per cent. higher than a
week ago.
Failures for the week were 296 in the
United states against PCS last year and
4G IN Canada against SO last year.