The Topeka state journal., 1897-09-25
S6,5OO,OOO IN FOUR DAYS.
That Sum Represents the Recent I'm
portation of Foreign Gold.


New York, Sept. 25-R G. Dun &
cos weekly review of trade says in
its issue today:
Gold imports have begun direct from
England and from France, besides the
arrival of 100000 at San Francisco
from Australia for wheat exported
Ihe gold received here and started
from Europe amounts to S6 500 OO0 in
four days, and the advance of it's rates
by the Bank of England to 21a per cent
seems little likely to check the move
ment.
In view of the heavy merchandise
balances due to this country and a rise
in the rate of interest here, the Au-
gust excess of merchandise and the
specie exports over imports was not
far from $42, 900, and the September
excess will evidently be larger unless
shipments of gold are considerable.
Merchandise exports from New York
in three weeks of September have been
15.3 per cent over last years, and i'm
ports 1871 per cent less, and like changes
on the whole trade for the month
would result in net exports of $53, 3,O00,-
900 merchandise, besides silver
Produce markets have been uncer-
tain, closing a fraction higher for both
wheat and corn, while the decline in
cotton continues. With SA paid for
dropped 11a, or 18 per cent in less than
four weeks in spite of a remarkable
revival of manufacture.
Fever in some southern cities has
not been largely influential and the
main factor has been a general i'm
preston that the estimates are as mis-
leading as they were when the yield
was the greatest on record.
The corn estimate most credited by
the trade is only 1,750, 600, 600 bushels but
is coupled with figures tending to show
a surplus from the last crop of 400, 000.
900 bushels over ordinary consump
ton. Were this quite believed, the
price would not be rising, although ex-
ports continue heavy in other markets,
1927, ,S49 bushels against 6,150,187 last
year.
Wheat has gained a fraction for the
week. While Atlantic exports, flour
included, for three weeks have been
12,498, 1S1 bushels against 6,1S3,743 last
year, western receipts are exceeding
last years, and foreign estimates now
agree in making the probable require
ment from this country over 100, oooOoo
bushels greater than last year.
The official ending of the western coal
strike adds many thousand men to the
working force in the mines and others
in manufactures using bituminOuS coal.
The anthracite strike has substantially
ended and no extensive labor disturb
ance is threatened. The output of coke
is now 1Z5,000 tons, and the price is also
advanced Some brands of the iron
and steel industry are clearly no longer
able to keep up with their new orders
Others are very fully employed Tor
some months ahead and with all thes
demand increasing. Heavy buying mas
raised Bessemer pig at Pittsburg to
$1,000 and grey forge to $3.50, with
actual sales of 10000 tons southern pig
in the Mahoning Valley for $6.75 at Bir-
mingham.
Wool sales at Boston have decreased
a quarter, but manufacturers are st1ll
unable to find profits in goods with
wool at present prices. Reported sales
of wool are more than double those of
the most prosperous years but the rise
in prices renders the future more
doubtful. except for manufacturers
having heavy supplies laid in The
cotton mills are doing a large business,
although recent buying of goods has
naturally decreased after the recent
rush. 600
Failures for the week have been 2O9
in the United States against 315 last
year, and % in Canada against ~ last