The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1897-12-11
FINANCEAND TRADE.
Business Outlook as Reported by
the Commercial Agencies.
THE PHENOMENAL RISE IN WHEAT
In Chicago the Price Is Rushod Up to
$I.O0, and This Has Its E1fect on the
Market For Other CereaIs-All Spec
ulatlye Markets Stronger.

ulNHVG MafkeIS SufOuEeFs
New York, Dec. 11.-R. G. Dun & Co.'S
weekly review of trade says: The
opening of congress, with the annual
message and reoorts, has not dis
couraged business, as some predicted.
but all speculative markets are strong
er than week ago The productive IN
dustries, even in the season usually
about the dullcst of the year as to new
orders, meet definite improvement in
demand for important products, pre-
sumably the fruit Of q prevailing con-
viction that new business will begin
to crowd the works after the new year
starts,
The outward movement of wheat and
other products continues so heavy that
foreign exchange has fallen three-quar-
ters of q cent, and instead of exports
of gola, which have marked December
in recent years, imports would come II
gold were wanted. Securities are ad-
yancing with reason in the Increased
earnings of railways, 4,0S5 SOL for NO
yember on reporting roads in the Uni
ted States, 1868 per cent larger than
last year, and So larger than in 1877.
"A striking comparison for five years
shows that In each Of the last three
months earnings have been greater
than in any previous year, with
larger Increase in November than in
October or September.
TIE sudden rise in December wheat
at Chicago to 1.09 would do harm were
1t not based on avowed contracts to
ship some millions of bushels to Europe.
t1,n inn
demand in spite of such contracts has
helped rise Of IL cents here.
Cotton is sixteenth stronger, In
spite of estimates ranging from 10,0Co,-
900 to II ,OOOO bales by well known
authorities. A strike in English mills
is no longer threatened, and the possi-
biity of one at Fall River has little
\ weight. The demand for wooden goods
has clearly improved, and more wool
has just been purchased abroad and Is
being imported.
There Is more demand for iron and
steel products in preparation for rail-
way work. bridges and buildings next
year and on contracts for export, in
cluding one for government bridge
in Holland and others for bridges in
japan, with large shipments of various
products to England and other coun-
tries. Foreign contracts for 10000 tons
Of rails are pending, $1,000 being for
Mexico In and about New York
bridge and building con gE4cts call for
2b,OU0 tons, and Chicago works are
figuring on numerous contracts for 1000
railway cars.
Bradstreets' review says: Mild
Wv h a c
interfered to some extent with the dis
tributon Of winter weight clothing and
other seasonable goods, and trade from
first hands is quieter even than last
week. Jobbers and retailers, however
report a steadily increasing and in some
sections very active business in holi-
day goods, groceries and kindred pro.
ducts. Reports from the south con-
tinue as a whole, very good, with
specially favorable accounts from New
Orleans, Atlanta, Nashville and the
central south.
The price situation is one of sustained
and even aggressive strength. Wheat
is higher, partly on improved statistica.
position, but largely in sympathy with
the Chicago squeeze" which has ad.
vanced prices Is cents per bushel ir
that market within a week. All Other
cereals have sympathzed with wheat
and coffee, copper, cotton, dairy pro.
ducts, leaf tobacco and raw sugar are
also among the prominent staples which
have enhanced in value.