The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-10-09
SpeculatoTs Who Profess Anxiety About
Various Matters Have Their Inning.
YET BUSINESS IS SILL INCREASING
irnnsnctions nt the BANKS Usually
A.nrGc nnd Business Failures Cor
rcspohdinEiy Small L. Increased
<-rfiHity In Industrial Lines
Wheat Receivers IL Cent and u Halr.
New York. October s. 1897

v
trade will say in it's issue tomorrow:
Nhile failures were the smallest ever
known in any quarter since 1893, and
business payments through banks the
largest by S26S, 1000, 900 ever known in Sep
tenrber, the spectators who profess
uGlNlcty about Cuba, or fever at the
oouth. or municipal election, still have
some Influence. Helping them Just now
Is the fact that after extraordinary pur-
chascs Tor replenshment of stocks from
any sectlon or town there must ncccs-
sariiy be for a time less buying from
that quarter. Yet business IS still in
creasing, the productive force steadily
tnlarSes, the distribution OF wages az
lords an increased fund for purchases
ana the foundations arc laid for n larger
business hereafter. The weeks eX-
cnahSeS are S.S per cent. larger than In
1892.
Crop experts who have widely differ
ed now agree in putting the yield of
wheat about $50, 100000 to 500, ,O00. 600 bush
els. which is clearly 100000. 900 bushels
more than will be required for home use,
Keeping stocks as they were July lst,
thc lowest for seven years AS foreign
reports indicate n larger demand and eX-
ports since July lst have been nearly as
neaNy as in the hest past year, with
2.9S5.7Si bushels from Atlantic ports, -four
included for the last Week. against 22IO.-
oil last year, the recovery of IL cents
in price for the week is not without
reason. Western receipts continue to
exceed last years S.O0l ,22l bushels
against I,2i3.969 for the week With less
favorable reports of yield, corn exports
rail- short slightly with small differences
in the prices. Cotton is unchanged in
prices, with larger consuming demand,
Though big crop estimates do net an
pear to be disputed.
Large increase in the production of
pig iron and heavy realizing sales of
lots held on speculation have caused n
uecllne OF 10 cents to $1,000 for Bessemcr
at PlttSburS, though grey forge there
mas advanced 25 cents and pig iron Is
stronger at Chicago and Eastern mar
kets But finished products grow
stronger, with demand out-running the
capacity Of works in operation in many
branches, SO that delays in delivery in
sheets ana tin plate bars are embar-
RAISING, and in some other branches
orders cannot be filed within one or two
months. Building of more vessels on
the Lakes and sea coast, heavy orders
lor sheets, bars, rods and pipe have
caused advances averaging half of
per cent. for the week ou all classes
but the general gain is yet not quite 10
per cent. from the lowest point Re
- - N'iiioIlatioll III steer rails are
denied and is said that only three
large producers will agree on prices
Whlle the rod and wire compact appears
to he still in the future.
WOOL has now reached an aycra 20
OF 20.3t cents per pound for 100 quota :
t!ons OF domestic by Coates Bros. of
ihiiade!phia. showing Il rise of cents
since n year ago, with q much heavier
rise on some qualities, but following an
average decline Of II cents from March
1898. Speculative sales still account for
most of the aggregate, which has been
at the Chief markets H. S3i. 900 pounds
for the week, of when S.955, $50 were
domestic, but manufacturers are pur-
chasing some WOOlcn or mixture with
the cheaper wool held for some months
past. The rise has so greatly exceeded
the advance in prices of wooden goods
that the mills might have to pause but
Tor the very large stocks purchased in
advance. a'
GOODS are strong, with a further
advance in some grades. but in the aE-
EreEate thus far not go per cent. from
the lowest point, against GO per cent.
advance in the average price of wool,
Dealings in cotton goods are DELAYED
by weakness in raw cotton, but neither
print cloths nor other goods have de-
clned since last week, and though the
continued increase in consumption is
with reason expected.
Failures for the week were s12 in
the United States, against 296 last wear.
ana ~ in Canada. against &c last week.