The herald., 1897-10-09

| NEW YORK, Oct. S-R. G.. Dun & Cos.
weekly review of trade will say in its issue
| tomorrow:
| While failures were the smallest ever
known in any quarter since 1892, and busi-
ness payments through banks, the largest
by $6S, 900, GOO, ever known in September, the
| SPECTATORS who profess anxiety about
Cuba, or fever at the south, or a municipal
election, still have some influence. Help
| ing them just now is the fact that after ex-
traordinary purchases for replenishment
| Of stocks from about every section and
town, there must necessarily be for time
| less buying from that quarter. Yet busi-
ness is still increasing. The productive
| force steadily enlarges, the distribution OF
wages affords an increasing fund for pur-
chases, and the foundations are laid for
| a larger business hereafter The weeks
exchanges are SIS per cent larger than in
1892.
| Crop reporters who have widely differed
now agree in putting the yield of wheat
about $50 600 900 to 500 900, 900 bushels, which
! is nearly 900 bushels more than what is
required for home use, keeping stocks as
they were July 1st, the lowest for several
years. AS foreign reports indicate u
larger demand, and exports since July 1st
have been nearly as heavy as in the past
year. with 2,9S5.7S4 bushels from Atlantic
ports. flour included, for the last week.
| 1h cents in price for the week Is not with
out reason. Western receipts continue to
exceed last years S001. .221 bushels. against
| Z, ,243, ,969 for the week. large increase in
the production of pig iron and heavy real
izing sales of lots held on speculation have
caused decline of Is cents to $1,000 for
Bessemer at Pittsburg, though Grey forge
there has advanced 25 cents, and pig iron is
stronger at Chicago and eastern markets.
| But finished products grow stronger,
with a demand outrunning the capacity Of
works in operation in many branches, SO
that delays in delivery are in sheets and
| tinplte bars embarrassing, and in some
other branches orders cannot be filled with
In one or two months. Building of more
vessels on the lakes and sea cost, heavy
orders for sheets, bars. rods and pipe have
caused advances averaging half of / per
cent, for the week on all classes, net gen.
eral gain is yet not quite 10 per cent from
the lowest point. Reports of combination
In steel rails are denied, and it is said that
! only three large producers will agree on
prices, while the rod and wire compact
apears to be still in the future.
| Wool has now reached an average of
l2037 cents per pound for 100 quotations of
domestic by Coat & Bros, of Philadelphia,
showing a rise of cents since year ago,
with a much heavier rise Of some quail
ties, but from an average decline OF II
cents from March. 1893. Speculative sales
still account for most of the aggregate,
which has been at the chief markets A.
SS4 900 pounds for the week. of wlrch
S,955S90 were domestic, but manufacturers
are purchasing some wool for mixture with
the cheaper woods, and held for some
months past The rise has so greatly ex-
ceeded the advance in prices of woolen
goods that the mills might have to pause
but for the very large stocks purchased in
advance. Goods are strong. with fur
ther advance in the average price of wool.
Failures for the week were PIP. against
29e last year and 20 in Canada. against 46
last year.