Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-10-28
ACTIVE FOREIGN DEMAND.
1t Is Now the Dominant Feature
of the General Business
Situation.
WAR RuM0Rs A STIMULATING ELEMENT
Europe Seeks Our Wheat and Flour
General Distributive Trade, Espe-
cially in the North, Appears to Have
Suffered from bad Weather The
Review of Trade.

New York, Oct. A.-Bradstreet's says:
THE dominant feature or the general busi-
ness situation Is unqueStionably the active
foreign demand for wheat. flour and, in
deed, all our cereal products, and the busi-
ness reported on this account during the
past ten days seems worthy of rank with
the best recorded In any corresponding
period. While Strengthened stocks abroad
and less satisfactory advices from other
countries, notably Russia, Australia and
Argentina, have furnished a plausible
basis for much of the recent activity. an
additional stimulating feature was In
jected into the situation this week by the
more warlike appearance of the Franco
British situation, and the closing days in
deed witnessed war rumors in practical
command of the market, inducing much
short covering by steadfast bears. Lest
the rather moderate figures of current ex-
port should prove disapp ointing in view Of
the heavy engagements reported, 1t might
be remarked that much of this demand is
necessarily what might be termed forward
business and indeed stocks in this country,
in spite of heavy current deliveries by
farmers could hardly allow Of prompt
shipment, even If the ocean freight situa-
ton was not a.strained one. Quotations
for freight room have, in fact, operated
as deterrent feature on this export busi-
ness.
General distributive trade, particularly
at the north, appears to have suffered from
have interfered with regular business and
deliveries; but on the other hand has in
duced considerable buying of boots and
shoes, rubber goods and heavy clothing at
many markets. The situation at the south
Is rather more favorable than for some
time past, this resulting mainly from the
abrogation of many senseless quarantine
regulations as result of the advance Of
the frost line southwark toward the gulf.
The foreign trade situation Is about as
a t~@I l. H. L \
creases in a few leading exports have been
partly made up by increased shipments Of
American manufactures. and the nine
months figures point to a complete cal
endar years business in advance Of all
predecessors in volume of export trade.
Our import trade begins to show slight in
creases over corresponding periods year
ago and the substitution of dutiable for
nondutiable goods in this movement points
to an easier position in the customs situa-
ton. Prices are quite strong, notable In
this respect being all the cereals. lard,
pork, cotton, print cloth and raw sugar.
Little change is noted in the iron and steel
market, which as for some time past. con-
tinues quiet as regards new business,
though the mills and foundries are still
situation continues favorable employment
being quite general, particularlytn the west,
except in the glass Industry, where shut
down pending wage scale settlement
exists"
Dun's Review.
New York, Oct PAR G. Dun & Co., in
their weekly review of trade, say: with
growing foreign demand for American
products exchange is influenced mainly by
political uncertainties abroad. While Eu-
rope waits for the outcome between Eng
land and France about the Upper Nile, the
trying to force upon each other the
burden of providing cash for the enor-
nous demands of the United States.
England has SO managed as to make
gold and the resulting war of ex-
changes between foreign nations checks
for the moment the movement of gold this
way. Yet these and all other causes do not
SO far hinder business as to prevent an
excess over the most prosperous of preyi-
Gus years. The exchanges through all
clearing houses for the past week have
been 6 per cent. larger than last year and
II per cent. larger than In 1892, but outside
New York for the week transactions were
smaller than in 1892.
1.-THE outgo Of wheat staggerR all
prophets of disaster, but while the price
has advanced three cents at the west, the
| rise would have been much greater but for
| the feeling that the enormous foreign de-
| rnand may not last. Without doubt many
| western farmers are still holding back
| their wheat, and yet receipts at the chief
| western points have been In three weeks
3O.5e2, 494 bushels. against 23,725SO last year.
| II is significant that this heavy demand
continues after foreign crops, officially re-
ported as fairly large. have been
almost everywhere harvested. The corn
exports continue large, and although 1t is
the bottom point of the year for corn,
| prices have risen nearly ~ cents during
| the week.
There is much hesitation In the iron and
steel trade, partly because the outcome
of various combinations in Bessemer pig.
steel rails, bars, wire nails and the like
cannot yet be definitely anticipated If
general buying was expected to result from
these movements it has not appeared thus
| far. Yet prices of domestic products have
not declined, and although the tone is some
| what weaker for bars ana plates, quota
| lions are in part sustained by considerable
| orders for export. The plate mills have
| received orders for $4,000 tons from the
| government for ship purposes. and the bar
| and billet mills have very encouraging
| demand.
Failures for the week have been p2i in
| the United States. against 224 last year and
| "a in Canada. AGAINST IS last year"
You ARE MAKING great mistake in
MT canIinr FNr IN oart ~; ci1a of