The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1897-12-11
FINANCE AND TRADE.
Business Outlook as Reported by
the Commercial Agencies,
THEPHENOMENAIRIsE IN WHEAT

In Chicago tho Price is Rushed Up to
SI.O0, and This Has It's Eject on the
Market For other Cereals-A1 Spec
ulative Markets Stronger.
New York. Dec. 11.-R. G. Dun g. Co.'s
weekly review of trade says The
opening Of congress, with the annual
message and REPORTS, has not dis
couraged business, as some predicted,
but all speculative markets are strong
er than a week ago. The productive in
dustries, even in the season usually
about the dullest of the year as to new
orders, meet definite improvement in
demand for important products pre-
sumably the fruit Of prevailing con-
viction that new business will begin
to crowd the works after the new year
starts.
The outward movement of wheat and
other products continues so heavy that
foreign exchange has fallen three-quar-
ters Of a cent and instead of exports
of gold, which have marked December
in recent years, imports would come II
gold were wanted. Securities are ad-
vancing with reason in the increased
earnings of railways, S47 0S5, ,801 for No
vember on reporting roads in the Uni
ted States, 1853 per cent larger than
last year. and SO larger than In 1892
A striking comparison for five years
shows that in each Of the last three
months earnings have been greater
than in any previous year, with a
larger increase in November than in
october or September.
The sudden rise in December wheat
at Chicago to S109 would do harm were
it not based on avowed contracts to
ship some millions Of bushels to Europe.
That fact and the continued foreiTt
demand in spite of such contracts } .hi
helped rise of IL cents here. 1H
Cotton is a sixteenth stronger di
spite of estimates ranging from 10000
900 to 100000 bales by well kno Nv
authorities A strike in English m fll
is no longer threatened and the po on
biIity of one at Fail River has II re-
weight The demand for wooden go It
has clearly improved, and more W III
has just been purchased abroad an, an
being imported. to-
There is more demand for iron wi
steel products in preparation for 7 70
way work, bridges and buildings I b.
year and on contracts for export, "
Guiding one for a government bri 1
in Holland and others for bridges tdi
Japan, with large shipments of var 7 1
products to England and other cCeiou
tries. Foreign contracts for 10000 Pun.
Of rails are pending $1,000 being Yons
Mexico. In and about New YIor
bridge and building contracts carof5r
$4,000 tons, and Chicago works are
figuring on numerous contracts for 5000
railway cars.
Bradstreets' review says: Mild
weather throughout the country has
interfered to some extent with the dis
tribution of winter weight clothing and
other seasonable goods, and trade from
first hands is duieter even than last
week. Jobbers and retailers, however,
report a steadily increasing and in some
sections very active business in holi-
| day goods, groceries and kindred pro-
ducts. Reports from the south con-
tinue, as a whole, very good, with
! specially favorable accounts from New
Orleans, Atlanta, Nashville and the
central south.
| The price situation is one Of sustained
and even aggressive strength. Wheat
Is higher, partly on improved statistical
/ position, but largely in sympathy with
the Chicago Squeeze" which has ad-
vanced prices Is cents per bushel in
that market within a week All other
cereals have sympathized with wheat,
and coffee, copper, cotton, dairy pro-
ducts, leaf tobacco and raw sugar are
/ also among the prominent staples which
| have enhanced in value