Daily Kennebec journal., 1897-04-26
THE WHEAT MARKET.
rhe Greece Turkish War Has lead TO Largely
Increase in Business.

New York. April Pr. q. Dunn
%. in their weekly review of TRADE
aid: If either Turkey or Greece ma
cen wholly buried in the sea, th'
larkets might have been affected les!
han by the outbreak of war IN Europe
ike a fire in the heart of cro,wdet
.ty, it raises the question whether 9
eneral confiagration may spring ou
it. To this possibility and not 10 'He
irect influence of either Turkey Oh
reece upon the worlds money oi
reduce markets was due the eXclle-
.ent in grain and stocks
AS the unknown is magnifisd, Amerl-
an markets were much more Hlghty
IAN the European where the posslDli-
les have Leen discussed and partly
iscounsed for months. But the un
ertainty remains and will affect move
9ents of money ana staples until II
isappsars, creating larger demand
II American products at higher
rices. causing hasty speculative sell
ag Of securities at times, but also
aore continuous buying by foreign in
estors and not inprobably influencing
ne attitude of foreign powers on ques-
ions important to this country
Wheat rose 6 cents from Thursday TO
Monday and has retained most OF the
Use. Since Russia and the Danublan
tates will be likely TO ship wheat, espc-
ial needs and much higher prices being
iossible there, a large shore OF the re-
lurements of wheat in Europe may nat
tirally be drawn from this country, ard
the chance of a war between the great
Powers has the more influence because
he supplies held are not large.
While Western receipts do not yet IN
erease and i'll three weeks have been blt
! Gal 001 bushels against 1888. lga last year
Atlantic exports begin to gain slightly
amounting to 1890 300 bushels, flour in-
GUIDED. against 1,0S5,75i last year. and for
three weeks have been 3.5SS,150 bushels
igainst 3,i53.5 so last year. But the great
Increase is stiN in corn, of which the
1rice has scarcely advanced though At
antic exports were i.1S9.1i6 bushels for
he week and for three weeks II, ,22l ljl
bushels. against 2.624, 1872 last year. Al
eady the exports for the crop year have
seen 80. 600 0e0 bushels larger than Atlantic
ixports of wheat and flour and may soon
iXceed the total exports of wheat and
lour from both coasts.
Cotton has been scarcely affected, al
though the government estimates that
he flooded districts included nearly ,,O0.-
90 bales. for increased acreage in other
ections is generally reported.
The past week. like others of late, has
several iron works, especially in black
iheets for timing. and yet the prices of
zig iron in diminished products are lower,
he demand not yet equally the supply.
The only change in prices of boots and
shoes is a smell reduction in kip shoes,
md orders are still kept back as much as
possible for most kinds, though some
arge orders have been taken for brogans.
md most makers of light women's shoes
tave a full business assured to Septem-
hi fa,1
below those OF the past two years.
Leather is unchanged ard hides slightly
over.
The end of speculated curtailment has
been reached by some cotton mills and
nearly by all. and since the auction sales
some bleached goods have been slightly
advanced but the actual buying does not
increase and print cloths. do not improve.
Sales of wool have been largely of for
eign. the reports being swelled by the ar
rivals of quantities sold some time. the
imports at Boston for the week We're 49,,
100 bales. AT three cities there were g..
los. 800 pounds In three weeks. 2)2I1. 800 be
ing foreign against 15906.300 in 1892 in
cluding T5I4 600 foreign. But manufacture
ers are doing scarcely anything and or
ders for goods improve very little, though
for somewhat better grades of goods.
The failures have been 2sl IN the United
States against 1875, last week, and q in
Canada against A, last year.
X. G. Dunn & Co. will say of Canadian
as yet more satisfactory. Waiting for the
new tariff has retarded business. al
though in some quarters there is improve
ment. St. John reports fair wholesale
and pretty good retail trade with fair col
lections and encouraging spring pros
poets. A local election at Halifax has
reduced the volume of trade for the past
week. but at Quebec the opening of naVi-
cation has stimulated business. and con-
siderable activity is noted in shoe manu-
fdcture and leather trade, with collect ons
somewhat better.
Business at Montreal has been waiting
the declaration of the government trade
policy. which was made in Parliament.
Thursday, and the money market there i
unchanged. At Toronto the wholesale
trade is quiet. but the feeling is mere
hopeful, money is plentiful at 6 Per cent
and Improvement is expected. Jobbers in
Winnipeg report below the average, and
retail trade is decidedly slow and at
Victoria, there are no special features to
note, and collections continue fai.