The times., 1898-09-17

New York, Sept. 16.-Dun's review to-
morrow will say:
Business is passing well through the
difficulties that attended the winding up oil
the war The rush of orders kept back
while war lasted has lifted the prices
little. but though, IL has passed there are
ample evidences that the consuming de-
mand is very large. How large can only
be judged after some weeks or waiting,
but once more il looks as II those who
wait longest are likely TO pay most The
business of the country is expanding so
that payments through clearing houses
in the second week of September were
22.5 per cent, larger than in 1882, and for
two weeks 1910 per cent larger. From
these and railway returns and such trade
reports as are instructive, ii must be con-
cluded that more business is being done
than in the best of past years, though
not always with as much profit.
Wheat has come forward much more
freely and the price advanced cents. 1t
is supposed that the advance is largely
due TO milling demand coming upon a mar
row supply. Exports are large, 3,o07976
bushels, -four included, from Atlantic. and
20l, ,052 bushels from Pacific ports. Widely
differing accounts in foreign supplies and
demands do not explain the market, but
one certainty there is that the foreign
demand will be smaller and the American
crops larger than last year. The slight
yielding in corn was due rather TO the
Government report than TO any change in
movement. The exports for two weeks
have been 4, ,351 S31 bushels. With the start
ing of nineteen iron furnaces idle a month
ago. the weekly output. September l. was
,043 tons against 2067T August ], and
the decrease in stocks 1889 tons In two
| months indicates a consumption but lit
| tie below a million tons per month. I'm
portant cotton mills have stopped and
print cloths hold 206 cents, with other
cotton goods unyielding, but cheap ma
terial hinders operations for those who
| have to sell goods made from higher
| priced cotton. Wooen mills represent
| rather better orders, although much ma
chinery is idle, those who have not old
| wool bidding much below the current
| prices, which are so far maintained. for
| sales for two weeks have been only $685.
| 300 pounds. Stocks are a shade higher,
| averaging 10 cents a share for the week
| The speculative industrials average q
| cents per share lower.
Every heavy London buying, especially
| of Pacific stocks. has given much strength
| to the market.
| Failures for two weeks have been in
4
| year, and 1909 462 in 1896
| New York. Sept 16-Bradstreets to-
/ morrow will say:
Reports of still further enlarged dis
| tribution at most Western markets and
| of slight improvement at Eastern CEN
| terS, where demand has been slower to
materfalize; enlarged foreign demand for
| breadstuffs increased railway earnings,
| not entirely due to the swelling move
ment of grain to market, which, indeed,
| is still behind last years records, bank
| clearings increased over last week and
| over all corresponding weeks except one
| year ago. when speculation was very ac-
| tive; rather better than expected Govern
| ment crop reports and enlarging exports
| of American manufacturers, are all fea-
| lures tending to make the trade situa-
| ton at present a notable one. Crop i'm
pairment in August, not unusual nor un-
| expected, proves to have been less than
feared, and average conditions of leading
| crops, notably wheat, corn, cotton and
potatoes, are better than one year ago.
| Operative in inducing the improved for
eign demand for our wheat and flour,
perhaps, has been a tendency to shade
early estimates of the worlds wheat
| crop this year. somoe figures being as low
as $500, 900 bushels, which, while
larger than last year. is still below that
| of 1894.
This with the low state of the worlds
| wheat supplies and the slower than eX-
pected movement from American farm
| ers' hands to leading markets has increas-
ed the premium on cash wheat and nerv-
Gus short sellers of September delivery
have covered, with the result of advancing
prices. The continued rise in ocean freight
rates is taken to confirm reports of re.
cent large export sales. The quieter ap-
pearance of the iron trade is confined
strictly to new business because mills are
still fully provided with orders. and, ir
spite of slight increase in production
stocks of pig iron are smaller, pointing
to heavy consumptive demand The
heavy export demand for Southern iror
noted week ago still continues. The
wholesale demand for lumber continue.
undiminished in spite of some complain
from retailers. Export trade, as whole
continues very satisfactory. The Angus