The herald., 1898-11-26
Bradstreet's Report

NEW YORK. Nov 25-Bradstreet's to-
morrow will say:
| Winter storms and a holiday have inter-
fered with the wholesale demand and dis
| tribution, but later clear, cold weather Is
a compensating feature, inducing heavy
retail business In seasonable goods. In
general business circles most developments
have been favorable, notable among which
might be mentioned general advances in
prices of cereals, provisions, groceries, cot
| ton, steel and pig iron, the latter chiefly at
eastern and southern points; continued
heavy general export trade, better tone in
the market for hides and leather, more
frmness In cotton goods and active stock
| speculation, all of which are reflected in
heavy bank clearing totals. Unfavorable
features are few, prominent among which
| Is the continued dulness at wholesale of
wool and wooden goods. The situation as
| to the countrys exports Is flattering, ex-
| cept for the scarcity of freight tonnage,
which Is becoming serious. tending to check
shipments of goods contract ed for, and thus
| to seriously hamper the development of
American trade abroad. This is particular
ly felt IN the iron and steel industry, and
considerable pig iron arranged for ship
ment is being delayed and may ultimately
be thrown back on domestic markets. -
The movement of wheat, and other bread
stuns continues large, and although some
reaction has followed early strength, the
demand is sufficient, apparently, to more
than, counteract the growing increase in
supplies. The agreement as to print cloth
production and heavy sales of cottons for
export have stiffened values of manufac-
tured goods somewhat, and, impaired
material itself Woolen goods show little
effect as yet of current good retail dis stri-
button, but there is a steadier tone as to
values. !rsSortant developments are looked
for in the iron and steel industries, and
while the alleged combination as to steel
rail prices seem to have fallen through,
steel billet values are stronger and there
is talk of gentlemen's agreement as 10
prices taking the place of actual combina-
ton. In pig iron the situation is waiting
one but large buyers are manifesting more
interest, and while the strength of the
metal markets abroad and the feeling that
1899 will witness heavy consumptiVe de-
mand Is general. there is little tendency to
terest in anthracite coal stocks leads to ru-
mors Of important moves in this branch
of trade.
Wheat Qncluding four) shipments for
5,679, 11 bushels last week, 5,465, 1853 bushels
in the corresponding week of 1897. 3,75S.69S
bushels in 1896. 2,46O,3Os bushels in 1895, and
Since July this year the exports Of wheat
aggregate SO, 1888 bushels, against IS, 1885,
579 last year.
the week number 17s. against 229 last week.
In 1896, 2SS in 1896. and SO7 in 1891.
Business s. failures in q. Canada number %.
ago, 36 in 1885, SO in 1885, and 35 in 1894.
FINANCIAL R1VIEW
Bradstreet's financial review will saw:
In spite of its irregulartiy, the market
this week has been strong in tone, the av-
erage of quotations for the more active
class of stocks having touched level
slightly above that of last August. Public
and foreign participation continue on
fairly large scale, and the sustained activ-
ity and strength of the bond market is evil
dence that investment demand for securi-
ties underlies the present speculative situ-
alton. AS far as stocks are concerned,
there has been an increase tn the purely
professional and manipulative activity,
some of the most important movements Of
the week plainly exhibiting the presence
of such influences. The market, however
shows very inclination to follow bullish
on Of the ae
tions at Paris, or the alleged possibility of
a rupture in the harmonious relations of
the Pacific roads, caused temporary recess
sions, the bear element appears to be
timid, the rallies are easily effected and the
buying power which drops off in on part
of the market is quickly turned to other
groups of securities.
Tn ease of money is of course point
in favor of the bulls and higher rates Of in
terest abroad create no apprehension in
favorable trade balances and of the re-
newed declining tendency in exchange 1t
was noted that while there has been some
STOCKS in Which Berlin is interested' an Amer. r.
leans being strong in London, whr the an
nouncement that the United States con-
templates maintaining an open door" poll
Icy in regard to the Philippines seems in
some way to improve the standing of Amer
lean stocks.
The market here Is not apparently i'm
pressed by the rumors of severe and con-
tinued rate cutting among the western and
trunk line roads, and gives most Of it's at
tention to the Improvement in gross rail-
road earnings. while in several cases ad-
vances in values have boen based on re-
ports of increased dividends or RESUMPTION
Of such payments. The industrials, 1t may
be remarked, were not as conspicuous as
usual. and railroad stocks and bonds have
been the main objects oNspeculative atten-
ton.