The herald., 1897-11-06
Bradstreet's Review

NEW. YORK. Nov. 5.-Bradstreet's re-
view of general trade tomorrow will say:
Killing frosts south and the raising of the
quarantine will be regarded as the resump-
tion of traffic. and the prospective revival
in the demand for staple merchandise con-
stitute the trade features for the week.
Rains in the central and western states.
followed by colder weather, have favored
farmers and stimulated demand from in
terior storekeepers. This has made a ia
vorable effect at Louisville, st. Louis and
Kansas City. Jobbers in northwestern
states are awaiting seasonable weather to
stimulate the heavy dry goods and winter
clothing. The larger eastern cities report
no increase in the general merchandise
movement. New England centers report
that orders from the west exceed those
from the south or east Leading manufac-
turing industries continue fairly well en-
poyed. While there has been moderate
reaction in iron and steel, furnaces and
mills continue well employed, and the out
look for higher quotations next year is un-
changed.
In addition to lower prices for southern
and Bessemer pig and for steel billets,
quotations for naval stores, woods, copper
coffee, pork, flour, oats and wheat are
lower while those for cotton. print cloths,
sugar and beef are unchanged and for
Indian corn, lead and lard shade higher
Exports of wheat. flour included as
wheat from both coasts of the United
States and from Montreal this week ag-
gregate 5,575,216 bushels. compared with
5,911, ,S91 bushels last week. 3,472, 900 bushels
one year ago. and 2,566,000 bushels two
years ago. Exports of Indian corn this
week amount to 2199, $50 bushels. compared
with 1.5S9,000 bushels last week. 2,297. 900
bushels in the corresponding week one
year ago, and 125O,00O bushels two years
ago.
There are 223 business failures reported
throughout the United States this week,
compared with 21S last week, 235 in the
week year ago, 260 two years ago, 241
three years ago. and as compared with 1888
in the first week of November, 1898.
FINANCIAL REVIEW
In its review of The stock market, Brad
streets will say: At the beginning of the
week an idea prevailed in Wall street that
more active and better market would
develop after the election. On last Monday
there was some purchasing of stocks by
the bear traders, though 1t seemed that
professionals on the long side evened up
contracts The market on Wednesday was
weak and depressed.
On Friday the market had a sharp de-
cline, caused by unfavorable advices from
Madrid about the Spanish governments 8
attitude toward the United States in re-
lation to Cuba and the resolution az the
chamber of commerce calling for better
fortifications at New York. Considerable
liquidation marked the decline. London,
however, was not a seller of stocks here
and even purchased to some extent on the
declines, presumably for the purpose of
covering shorts. The public here has been
absent from the market, and disappoint-
ment with the turn of events has induced
more or less scattered liquidation of long
holdings The selling was, however, for
short account The bear pressure comes
mainly from the smaller traders, who have
taken small profits whenever they pre-
sented themselves, covering on limited de-
clines. thus producing number Of tenn
porary rallies and giving the market up
to Fridays depression very irregular ap-
pearance.
It is recognized that one of the reasons
for the inactivity of large interests in the
market is furnished by the fact that many
houses Of the first Importance are engaged
in the Union Pacific matter and that until
that transaction is completed they are
unlikely to extend in other directions and
the same in lesser degree may be said
of the arrangements just completed by
the Chicago Gas people. In the latter part
Of the wesk unsettling factors were sup
piled. by the illness Of Mr.. Havemeyer,