Omaha daily bee., 1897-04-24
WAR MAKES PRICES Go Up
Conflict Between Greece and Turkey Causes
Wheat to Boom,
PRICE RISES SIX CENTS AND STAYS THERE
Large share of the Grain Needed i'm
Europe Must Come from This
Country-Fnliing on in
Failures.
NEW YORK. April 2

NEW YORK, April 23.-R. G. Dun & Co.'S
Weekly Review of Trade tomorrow will say
If either Turkey or Greece had been wholly
buried in the stSl- markets might nave been
effected less than by the outbreak Of war In
Europe. Like ire in the heart OF a crowded
city 1t raistd the question whether a general
confederation may spring out OF It. TO this pos
sibiltty and not to the direct influence of either
Turkey or Greece upon the worlds money or
produce markets was due the excitement in grain
and stocks. AS the unknown is magnIhed, Amer
lean markets were much more hignty than Euro
pean, where the possibilities have been discussed
and partly discounted for months. The uncer-
tainty remains and Will affect the movement OF
money and staples until 1t disappears, creating
a larger demand for American products at
higher prices. causing speculative selling at
times, but also more continuous buying by for
eign investors and not improbably influencing
the attitude OF foreign powers ON questions inn
portant to this country.
Wheat rose . cents from Thursday to Monday
and has retained most of the rise. Since Russia
and the Danubian states will be likely to snip
wheat scantily, especial needs and much higher
prices may be possible there, a large snare OF
the requirements OF western Europe may be
drawn from this country, and the chance of a
war between the great powers has the more IN
fiuencC because supplies are not large. While
western receipts do not yet increase and in
three weeks have been but 5.J4l,OOl bushels,
against 1888. ly last year, Atlantic exports be
gn to gain slightly, amounting To ~l,i9O,2,9 bush
els, flour Included. against l,OS5, I6i last year,
and for three weeks have been ass, 40 bushels,
against 3~,5i3,O79 last year, But the great in
crease In corn, on which the price has scarcely
advanced, though Atlantic exports were 4,1S9, 1876
bushels for the week and for three weeks lO,2jl,-
PSI bushels, against Il, l20, 5G2 last year. Already
the exports for the crop year have been 81, 900, 600
bushels larger than Atlantic exports of wheat
and flour, and may soon exceed the total eN-
ports Of wheat and flour from both coasts. Cot
ton has been affected scarcely at all though
government estimates that the flooded districts
yielded nearly so, 900 bales. an increased acreage
in other sections is generally reported.
The past week, like others of late, has wit
messed the starting of operations by several iron
works, especially in black sheets for timing,
and yet prices of pig iron and unfinished
products are lower, demand not yet equaling
the supply. Bessemer pig has sold as low as
S9.05 at Pittsburg and grey forge at $3.50 in
Birmingham. steel billets fell to $li.25 at Pitts
burg, ana angles to l cent, but wire rods cannot
be secured last enough at $2l.I5. Nails are
strong, and Il few more structural orders are
pending. Eastern works also have orders for
Is. 600 tons of steel rails. Complaint and proof
blinds many to the fact that the actual work in
progress largely on the heavy orders for beams,
billets. rails and sheet bars taken when the
pools broke up, is of greater volume than for
n long time. Large sales of copper are reported
at 1Sk. with production of is, 900 tons in March.
When the end Of the stipulated curtailment has
been reached by some cotton mills, and since the
auction sales. some bleached goods have been
slightly advanced, but actual buying does not
increase, and print cloths do not improve.
Sales of wool have been largely of foreign, re-
ports being sweiled by arrivals of quantities sold
ume time ago, and imports at Boston for the
week were ~, coo bales. For the three chief
cities sales were "a, 800, 500 pounds in three weeks,
20, 27l, 800 pounds being foreign, against 10, aI6. 100
pounds in 1892, including 1854. 600 pounds foreign,
But manufacturers are doing scarcely anything
for somewhat better grades of goods.
Failures for the week have been 2lS, in the
United States, against 23S last year, and twenty
one in Canada, against fCrty-four last year.