The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1898-08-27
FINANCE and TRADE.
Commercial Exchanges Present En-
couraging Reports.
CONFIDENCE AMONG INVESTORS

Europe Has Not Wearicd of Buying
American Securities, and Our Own
Investors Are Not Withholdin ing Their
Money-Decrease in Price of Wheat.
New York. Aug. 27.-R G. Dun &
Co. in their weekly review OF trade.
say: The volume of business reflected
in exchanges at the principal clearing
houses Is 20.4 per cent larger than last
year and 2G8 per cent. larger than in
1892, heretofore. the year of the largest
business and highest prosperity ever
known Part of The increase was due
to speculation at New York. but there
remains a healthy increase over the
best Of previous years. and though in
some branches business is not. salts
factory in character, in nearly all 1t Is
larger in volume than ever. before. No
unfavorah'e change appears In the pros
pect Of crops upon which the welfare Of
the country so largely depends. nor is
there present or threatening financial
disturbance. Europe has not wearied
Of buying American securities, al
though some spectators have been
selling, nor is there shown any want Of
confidence among American investors.
Comparisons as to foreign trade are
apt 20 mislead because imports last
year were extraordinarily small, after
the big rush to anticipate new du,ies,
while exports were beginning to show
the phenomenal demand which made
the year quite the most remarkable, in
our history HenceS Sthe decrease of 10
per cent. from New York in August
thug far is not alarming. but sales of
products yet to be forwarded are large,
and have stopped any advance in the
current rates of foreign exchange. Nor
Is it at all disheartening that imports
at New York for the month thus far
exceed last years by nearly IS OOO 600,
since last year they fell below those Of
1896 by more than $4,000 900
Wheat goes down three cents for the
week, as if there were no foreign de-
mand coming. the obvious concert OF
farmers to keep back wheat. the crop
being certainly very large. tending to
encourage conspiracy of traders
against them, which thus far has en-
tire control of the market.
Bradstreet's review says: Business
conditions in the main reflect the con-
tlludHCe Ul Hlbsl DI Inc ltu-
lures hitherto dominating the trade sit
uation in the more favored sections OF
the country. Prominent in this direc-
tion, of course, are the iron and steel
and allied industries. in which active
demand. present or prospective, has
led to further price advances. sustained
and even increased activity in dstri-
button at most western markets, with
some improvement likewise noted at
the south and on the Pacific coast.
steadiness in prices-wheat, corn and
cotton. however, eXceptrd-a reduced
number of business failures fair gains
in railroad earnings, as a whole.
and bank clearings, in spite of IA slight
reduction from last week, showing |
heavy gains over all spending |
periods in previous years.
The less favorable Clements in the |
are the reports of arrested or |
smaller than expected trade at eastern
markets. more particularly in textile
lines, lowered quotations and appar-
emily less active demand from abroad
for our cereal products. and reduced
prices paid for the souths great staple
raw cotton. Qualifying the latter
might be mentioned the fact that
spring wheat has apparently begun to
move in the northwest, and that the
promise of large yields alike in wheat
and cotton has tended to depress quo