The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-07-26
FALL TRADE HAS BEGUN
,obbing centers Report Stimu.
lated Demand.
HOPEFUL OUTLOOK FOR FARMERS.

, Neek-speculation in Wall Street
Iiyely-Advance i'm Stocks.
New York, July 26.-Bradstreet's
savs: The widespread confidence that
there will be a marked revival in gen.
oral trade in the fall continues to grow,
and with il material evidence that 1t is
I@well founded. Chicago jobbers in cloth
dry goods and shoes and manu-
factures, there and elsewhere, of pianos
oreans wagons and farm Implements
renort that fall business has begun,
which is much earlier than usual The
distribution of general merchandise
from st. Louis is little less active, al
though trade there is favorable. Like
xrenorts are received from Pttsburg
Notwithstanding dullness in iron and
steel.
Savannah, in spite Of this being the
bnsv season on plantations; Omaha,
Milwaukee, Duluth, Minneapolis and st.
Paul. where merchants are feeling the
influence of a prospectively large crop
of wheat; and from Galveston and 9TH
Ar points in Texas, on the favorable
= crop outlook and confidence in an in
creased movement of merchandise next
fall. Demand for supplies for shipment
10 the Klondyke gold region has made
Julv the busiest instead of the dullest
month in the commercial year at Seat
tle and has had an influence on sales
OF staples at Tacoma, Portland and San
2 Francisco,
Wheat Crop Outlook.
The worlds wheat crop outlook con-
tinues to favor the United States, much
IA OH or
look is that Russia alone of all other
wheat exporters will be able to COM
pete with the United States. The adj
!. vance of more than 20 cents a bushol
} compared with year ago, in the face
of a domestic wheat crop probably 1O0,-
600 900 bushels larger than last year,
and the prospect for continued high
er level for quotations, owing to in
creased demand from importing coun-
tries, explain why the American farmer
is to secure his proportion of the ad-
vance and the coming era of prosperity.
> That he is alive to the situation is indi-
Gated by tendency to hol1 back wheat
already harvested, notwithstanding
higher quotations.
TnfaVorabe features include the con-
tinuance of the strike of bitumincus
coal miners in the western and south
ern states, which now begins to threat
\ en- the continued activity of industries
! dependent upon that variety of fuel;
the practical stagnation of the Besse-
mer pig iron and steel billet markets.
with prices as low as ever known; the
shutting down of New England cotton
mill machinery 10 reduce output and
get rid Of stocks on hand; and the UNI
satisfactory condition of the wooden
y goods market, owing to the relatively
low prices of products, compared with
quotations for raw material.
Exports of Wheat and Corn.
Exports of wheat (flour included as
wheaO from both coasts of the United
States and from Montreal this week
amount to 1873, 1913 bushels. an increase
of about $4,000 bushels, as compared
, with last week, for which shipments
from the ports of New York and Balti-
more are largely responsible. The cor
responding total in the like week last
year was 3,O73.000 bushels. in the week
two years ago 1,265.000 bushels, three
years ago 3,SSs, 900 bushels, and in the
corresponding period in 1893 1T was A.
1863, 900 bushels Exports of Indian corn
. amount to 2,29S,379 bushels this week,
contrasted with 2,723,000 bushels last
year ago, 10000 bushels two years ago,
$4,000 bushels three years ago, and as
compared with 1,5S7,000 bushels in the
like week of 1898.
There are 22O business failures report
ed throughout the United States this
, week. as compared with 247 last week,
$50 in the week a year ago. and 4S9 in
the corresponding period in 1898 There
were twenty-one business failures re-
ported from the Dominion of Canada
this week, against thirty EIGHT last
week, thirty-one in the week year
ago. and twenty-five two years ago.
Activity and Advance in Stocks.
Bradstreets review of the stock mar
ket says: Activity and decided adj
vances have ruled i'm speculation. The
agreement of the conference committee
on the tariff bill and the prompt pas
sage of the measure by the house gave
a decided impetus to the market early
in the week, and the fact that the &C
ton of the senate was still delayed was
not regarded as seriously endangering
the bill. Expectations of revival in busi-
ness activity are supplemented py the
influence of the fine crops here aud the
expected large demand for our cereals
from Europe. The advance in wheat
has accordingly been a factor in the
marked assertion of speculative conf
dence, and with the belief that western
railroads will enjoy a period OF heavy
traffic and large earnings, and thus De
able to increase their dividends materi-
ally. leading financial interests nave
given support to the granger stocks, en-
couraging similar manifestations in con-
nection with other parts of the snare
list.
Increase in Public Buying.
At the same time there has been q
very marked increase in the public buy
ing of securities. Professional traders
sold stocks early in the week on the
idea that the movement was premature
and had, at least temporarily. reacheu
a elimination. The covering OF the
short interest thus created was effect
i've in aiding the advances recorded later
in the week.
London, too, seems to have been IN
fluenced by an unfavorable sentiment
toward this market and the selling by