The herald., 1897-12-18

NEW YORK, Dec. 17.-Bradstreets to-
morrow will say:
A sensible quieting of demand in whole
sale lines is reported as the holiday season
and the annual stock taking period APP
proaches. Chief among the favorable fea-
lures Of the week have been enlarged in
quiry at higher prices for steel in various
forms. accompanied by advance In the
prices of sorts most affected. A CORES
pondingly heavy business has developed
in pig iron and prices show but a slight
shading in face of the current immense
production. The wheat market has been
less feverish, and prices are practically
unchanged from week ago. while corn.
oats and sugar are additions to the list
Of the products showing advances.
At the east trade In wholesale lines is
quiet. but retail trade has been stimu-
lated sufficiently to allow Of a fair record
of business In seasonable lines. Notable
among favorable features is the improved
inquiry at higher prices for several kinds
of steel. especially billets and wire nails.
1 The approach of the holiday season has
induced freer realizing on cotton by plant
ers and others at the south, and increased
activity Is noticeable In retail lines and
among jobbers " seasanable goods. Col
,lections are slightly better In consequence.
although the low price, of the staples Is
discouraging feature. Aside from price
depression in its chief products. the south
ern business situation presents many en-
couraging features, notable among these
being the active demand and firm or high
er prices for Louisiana sugars and rice and
leaf tobacco. Export trade on the Pacific
In very heavy, and shipments of wheat,
cotton and lumber are of large volume.
Preparations for an immense Alaska out
fitting business are being actively pushed,
while seasonable trade holds its own.
Wheat exports show a heavy falling off
from recently preceding weeks, aggregat-
ing, as they do, flour included as wheat.
AGO.. 1888 bushels from both coasts of the
United States and st. John, N. b., against
6266, 159 bushels last week and 1922 ia BUSH
els year ago.
Business failures show q rather smaller
than usual ante-holiday total. aggrega.ng
2S3, against 292 last week and $50 In the
week year ago.
Canadian failures this week numbered
43 against 2S last week, 80 in the week a
year ago, and AZ In 1895.
FINANCIAL REVIEW
Bradstreet's financial review tomorrow
will say:
Strength, accompanied by considerable
speculative movement. There has been to
all appearances more public interest and
outside buying in the market but 1t has
been in the main under the control Of the
bull leaders and bull cllques. London
bought to q limited extent, but the in
creased favor in which Americans are said
to be held there, largely because of the
Northern Pacific dividend, Is apparently
confined to professional interests and does
not extend to the public. Bonds have been
strong. but somewhat less active and the
movement in them as we'll as In stocks
received check from the hardening Of
rates for money which began early in the
week and became somewhat decided on
Wednesday, when call loans were quoted
at 3G4 per cent. This was the result of the
fact that the banks do not consider It
needful to go to the trouble and expense
of depositing United States bonds with
the treasury to secure deposit of the
Union Pacific money as 1t Is paid in, and
then find It almost impossible to lend 1t
on call at IL per cent. The fact that the
IS, 6O0, 900 paid this week was allowed to
go into the treasury and that the same
course will be taken with the two succeed
ing installments of a similar amount will
hardly result in any strlngency I'm the
money market. The government has ar
ranged to anticipate payment by about a
week Of the $26 000, 900 on the currency skies
which mature in January. The advance of
interest rates, small as 1t is caused de-
cline in foreign exchange, and any fur
Their hardening would doubtless bring that
market to the gold import point. Still the
street had one of It's characteristic chlls
at the mere mention of higher rates for
money, and professional manipulators In
the latter part of the week worked in some
instances for y reaction, with varying sue