The record-union., 1897-09-04

Wheat continued its reaction until
it had fallen four cents more, but then
rose 3 cents with the first revival or
foreign buying. Western receipts are
very large, though not quite as large as
a year ago, but Atlantic exports, flour
Included, rose to 1884, ,75S bushels for
the week, against 2,175,453 last year.
The estimates which command conf
dence still Indicate yield Of 100000
COO to 5S0,000,000 bushels OF winter
wheat, turning out so much beyond ex-
pectations as to balance much of the
loss in spring wheat. Foreign accounts
do not improve, and unless much more
deceptive than usual, the demand for
American wheat will far exceed the
quantity which can be spared.
The improvement in the iron and
steel industry gains momentum and
further advance in prices makes 40
per cent. from the lowest average, Aug
ust 18th. The demand increased for
sheets and plates. and especially for
bridge and ship building, including TO-
600 tons at Philadelphia in structural
work, of which it is said that 10000
tons have been placed at Chicago. For
bars and especially wire and wire nails,
| a demand is heavy, and all have ad-
vanced an average of 81 per ton.
Southern and Western dealers have
united to advance prices of pig %
cents. Bessemer at Pittsburg has ris-
en- 10 cents, and Eastern markets are
stronger. The demand for cars is
pressing, and work for railways in
| crease. The first shipment of steel
| rails from this country to Australia was
1900 tons by the Lackawanna Com
p2ny. Tin is still slightly lower at
S13 %, but heavy exports, said to COW
er 100000 pounds for the next three
| months, sustain copper at $11 % and
| lead at 81 10. Boot and shoe ship
ments, not quite per cent smaller
| than last year in August, nor 4 per
| cent. smaller than in 1895, We're 715
per cent. smaller than in 1893, but
were a little larger than in 1892. Buy
| ing is still mostly for immediate nee
essities, but is sufficient to keep works
we'll employed.
NEW YORK, Sept. 3.-Bradstreet's
review of the stock market tomorrow
will say:
| Stock prices have continued to ad-
vance lllS week, anu the lTdulnS mas
! been upon an exceedingly large scale
| The market has been at times excited
| and While manipulation by bull leaders
and cliques is apparent, there has also
| been a growth of public participation
| The market was influenced by denials
| that there is any widespread or Sc
rious damage to spring wheat and by
reports minimizing the results OF frost
| in the corn belt
The Western railroads are stated to
! be overburdened with grain freight, and
the business has spread to the trunk
| line roads and those of the South and
| the Southwest The Improvement in
the iron trade is considered most i'm
| portant factor for the railroads, while
| the expected settlement of the soft coal
miners strike will remove the only dis
| turbing circumstances of Importance.
| Railroad earnings, almost without ex-
| ception, show large increases. Most of
| the speculative movements which have
| been based on reports as to the prob
able or possible increase of dividends, or
| the payment Of them by companies
which have not heretofore yielded a
return upon their stocks.
! Low priced securities have been the
| object of considerable attention. and
some buying. On Friday the market
was active, strong and excited under
| the lead of St Paul and the granger
! stocks generally.