The times. [volume] (Richmond, Va.) 1890-1903, 1897-07-24

The Wheat AIarle' the Sensation Of the
Month.

The Wheat Marief the Sensation of the
Month.
NEW YORK, July pr G.. Dun g
cos weekly review Of trade tomorrow
will say: The end Of uncertainty regard
ing the United states on imports, gives
greater confidence alike 10 those who
have opposed and those who have tavored
the change The great strength I'm stocks,
particularly in those Of the Granger list,
reflects assurance Of heavy crops. The
remarkable rise in wheat, notwi-l5tand-
ing that assurance Is based on heavy
buying for export and belief that fer
eign demands will be large. To these
must be added another element Il 2onii-
dence scarcely observed a week ago. The
heavy increase Of receipts OF geld,
whether from one side OF the AlIskl Dcr-
der or the other, swells deposits 81 the
minis and the banks OF this country, sld
If the yield from new regions answers
current expectations may have influence
akin to that of gold dlscOvesies N Cali
fornia. Tho one retardilg torce. the
strike Of coal miners has caused cloflns
OF few manufacturing works for wait
Of fuel. but negotiations for settlement
are still pushed with Ao2e.
SENSATIONAL WHEAT
The wheat market IS the sensation Of
the month Since July %. the price had
risen II cent by Wednesday, When
n reaction Of four cents was
not surprising, but the close
was 5-Sc. higher for the week. IL Is
notable that this rise came In he face
OF highly encouraging crop news, which
is not disputed, and had for support put
the foreign conditions and demand
Actual buying for export ha5 At times
been heavy. and loading OF -a-eoes fcre
and I'm California for countries which
usually contribute to European supplies
greatly strengthens the impression pro-
duced bv continental report5 THAI 'nefe
IS speculative handling behind the great
advance is evident, and the buying Tor
export has not yet resulted in Atlantic eN-
ports quite as large as last July to-day,
4s.6324iO bushels. h0ur 'nclutcd, against
1851. 14J last year.
Western receipts, 55j2.Zd bushels IN
July. against 10275.2I last year, Indicate
concerted delay Of shipments, Wfich'
however. rarely withstauds the influence
of n substantial rise. Corn exports are
still heavy. $685.. 1886 bushels II july,
against 2.i2l999 last year which reflects
much more certainty than the wheat
movement. the actual conditions abroad.
SIGNIFICANT SIGNS.
Roth bocause OF the season and because
~ the pending action on The tarin, IN
dustrial operations are waiting and with
an Improvement which. under SUCH cir
cumstances is significant
The half yearly production or pig IRON
exceeded that OF the last half Of 1896 by
| 7rg 80 tons. but outside the great steel
companles there Is little action 1t this
time though they are increasing their
oufput The Illinois Company has sold
basic steel Tor export to Germany, a
New York sale Of hoops for export 10
Manchester is announced, and additional
orders for Pennsylvania iron bars 10
England. Bessemer pig Is shade lower
with other quotations unchanged out the
demand for plates. sheets pipe ana s1ruc-
tural work IS growing. Minor metals are
I'm better demand. Tin at 1880 ana ieao
at BIS cents. and copper Is sustained az
II Is for lake by exports. though the
June production was 1888 tons, ana th"I
OF the half year was l0s.6jl tons.
GENERAL ADVANCE.
There IS a general advance in boots ana
shoes, averaging about IL per cent
with larger demand as dealers lose
hope OF lower prices, but leattr Is un-
changed and hides at Chicago average :
per cent lower.
Tho textile Industries have lost no
ground. as the curtailment OF production
in cotton for time Is really gain.
The demand has somwhat increased .fbut