The record-union., 1897-04-10
WEEKLY REVIEW OF TRADE.
NO GAIN SHOWN IN THE SITUA-
TON AS A WHOLE.
Floods in the Mississippi and Miss
ouri River Valleys Check Pro-
gress in Business Lines.

NEW YORK, April S.-BradStreet' s
tomorrow will say: The situation as a
whole shows no gain. Staple lines are
only fairly active. Overfiows, wash
outs and floods continue to do great
damage in the Mississippi and Missouri
River Valleys, through a portion of
which general trade remains practically
at a standstill.
Pig iron, steel billets and cast iron
pipe are lower in price, and the demand
for steel and iron is not as heavy as
it has been, although the price of lake
iron has been fixed at a low figure and
an ore pool formed.
Wheat has continued a disappoint-
ment as to price, dropping nearly
cents a bushel on Bradstreet's report
of an increase in the worlds visible
as expected, due to a larger quantity
of wheat in sight abroad. Chicago
has only about held it's own, little, if
any, Improvement being reported in
trade there. st. Louis, more dependent
on traffic from the flooded regions, re-
ports a decrease in volume of business.
Jobbers at Omaha, ST. Paul, Milwaukee
and Portland, Or, report a better de-
mand, notably in dry goods, oil, paints,
glass, shoes and leather. Prospective
advances in the wool tariff are behind
another rise in the price of wool and
woolens, but common goods thus far
fail to advance, because the restricted
production is meeting current demand
Nearly all staples, except those men
toned as had advanced, have declined
Exports of wheat (fiour included as
wheaD from both coasts of the United
States and st. John, N. B., this week
were 2,O36, l91 bushels, compared with
It'll, 900 last week two years ago, L.
'Oo,OOO the week year ago, 2,196, 900
the week two years ago, ,935, 900 three
years ago and 2,947, 600 in the like week
of 1893.
Business failures remain at the lower
level recently reported, 232 this week.
compared with 212 last week, 231 in the
week year ago, 225 two years ago,
and III three years ago. There are 81
business failures reported from the Ca
madam Dominion this week, against 80
last week, 80 in the week a year ago
and 70 two years ago.
Bradstreet's Financial Review to-
morrow will say:
Although the market has been a pro-
1esslonal one, and at the beginning of
the week exhibited further heayiness.
the covering of shorts on an extensive
sale set in on Wednesday, and carried
prices in many instances to a consid-
erably better level This movement
was not attended by any very striking
news, but would seem to be the result
OF over selling by professional traders
ana their allies. The fact that the rail-
roads did not justify the hopes of the
pears IN regard to their action upon the
trans Missouri decision and have stu
uiousIy refrained from inaugurating
rate war was of course an importa Mt
factor In this connection, and it NAV
also be observed that except in a few
stocks. like Jersey Central. where spe-
cal reasons for liquidation existed no
large volume of investment stock came
upon the market during the recent de-
cines. Loosely held long stocks was
however forced out but it is now owl
cent that the short selling was upon a
ihuch more extensive scale than had
oeen supposed, and as further unfayor-
"'ie ueNeiopments seemed far off, I'M
easihess on the part of the professionals
oauseo general desire to close their
contract on the bear side; but this
disposition has doubtless been acceler-
ateo by manipulation on the part of
some OF the leaders of the bears. and
II may De remarked that the commits
sion house buying, indicative of renew
eo public interest in the market. has
peen lacking. The reduction Of the
sank OF England rate, with the decline
Oh the money markets in London and
vi the continent, preventing as thew
90 decreased apprehensions that war
VIII grow out of the Cretan question.
are considered favorable factors. At
.ne same time London has been mac
I'VE ana shows little or no interest in
our markets.