The herald., 1897-09-25
Bradstreet's Review

Bradstreet's Review
NEW YORK, Sept. 24.-Bradstreet's to-
morrow will say:
There is check to the inward sweep
of demand in staple lines, noticeable
throughout the south for the past six
weeks. The yellow fever quarantine,
which extends from Texas to Georgia,
has brought wholesale business to prac-
tical standstill throughout the greater por-
tion of the region embraced by the gulf
states. AS centers of distribution in CEN
trail, eastern and western states, the re-
cent activity in dry goods, hats and hard
ware has fallen off, but at the west and
on the Pacific the buying by interior mer-
chants and the free distribution of mer-
chandise continue to be features.
Demand for heavy textile fabrics has
been stimulated by colder weather and St.
Louis merchants say the yellow fever scare
will have no effect upon trade at the city,
as southern merchants had supplied them
selves there before the quarantine was
enforced. The outlook for business in
parts of Texas, Arkansas, Tennessee and
Georgia is for a much duller season than
had been expected. Favorable features Of
the week are found In sharp advances In
prices for iron and Steel heavy sales of
Bessemer pig iron, steel billets and rails,
and a prospect that iron and steel prices
will go higher in the near future.
Wool is also higher, and wooden goods
for 1898 delivery are up 10 to Is per cent,
with the outlook favoring further ad-
vance. The increased volume of general
trade is also stimulated by the continued
heavy movement of cereals to tide water,
the almost unprecedented quantities ex-
ported each week and the increased num-
ber of people finding employment in in
dustrial and commercial lines, as compared
with year ago, together with the tenden-
cy of gold to come here from abroad.
Exports of wheat flour included as
wheat, from both coasts of the United
States and from MontrdaL this week
amount to 1928, 49S bushels, compared with
6,2S994S last week, $780, 900 bushels in the
week a year ago, 3,151,OO0 two years ago.
and as compared with 3,49O,000 bushels In
the corresponding week of 1898.
Exports of Intlian corn aggregate 4022,-
142 bushels, compared with 100000 last
week, 100000 bushels in the week one year
ago, 100000 bushels two years ago. 104 900
bushels three years ago, and as contrasted
with $4,000 in the like week of 1898.
There are 237 business failures reported
throughout the United States this week,
compared with 2S6 last week, 321 in the
third week of September, 1896, 1888 in 1885,
20 in the like week of 1894, and as con-
trasted with 232 in the corresponding peri
cd of 1898.
There are 80 business failures reported
throughout the Canadian Dominion this
week, against sc last week, "a in the week
a year ago, and So in the corresponding
week of 1895.
FINANCIAL REVIEW
In it's review of the stock market, Brad
streets tomorrow will say:
Speculation continues to be on large
scale, the weeks proceedings being at
tended by sensational incidents. They en-
braced a sharp decline, with heavy bull
liquidatons, due to the advance of the
money market, followed by sharp recov-
cry Of prices, encouraged by the announce
ment that $2500,0 900 gold was en- route from
Europe. The market had notice that the
period of excessively low rates was draw
ing to an end, and on Monday and Tuesday
last lenders marked up their call loans.
There was no scarcity of money, neverthe-
less the stock market has become over
bought and many spectators were carry
ing unwarrantedly large amounts of stock.
Hence the time was ripe for liquidation.
Bear interests hammered the market Wig
orously. While the declines on an average
were no more than two points In the active
list, some stocks made very considerable
declines and the market presented a bear
ish appearance on Tuesday.
On Wednesday, however, the market be-
came steady, though dull. Later an
nouncements of gold being taken in Lon
don caused sharp rally in prices which
developed into excited bull speculation.
The market continued very strong on
Thursday. There was considerable bullish
manipulation by the cliques in various
specialties. On Friday, the market was
heavy and lower. The unfavorable cir
cumstances embraced a harder tone in
exchange and expectation of an unfavora-