The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-10-29
Bradstreet's Report

morrow Will say:
irregularities in prices and trade move
mems nave been rather more marked this
week than Tor some time past but, meas
ured by all of the usual standards of bust
ness development, the situation Is one of
exceptional activity, and even strength.
Inc active foreign demand at advanced
prices for American cereals and their prod
ucts appeared to have eliminated early in
In which the highest prices reached since
early in August were recorded. The reac-
tion, however, has been a small one, testi-
Tying to nervousness both at home and
abroad. growing out of exceptionally small
gains In worlds supplies, reports Of dam
age to wheat in the fields in the northwest
ana Manitoba, activity. in milling demand
all records of flour production for the week,
and continuance of the talk of rather less
than anticipated out-turns of crops abroad
noted for some timApast Evidences of re-
action In prices are not confined to wheat,
but extend to lard and coffee among food
products, bessemer pig iron, lead and cot
ton, while most other cereals, pork and
beef, copper and print cloths have re-
manned steady and unchanged
In distributive trade. reports Of bad
weather interfering with regular demand
a al collections are received, but of stimu-
coming from the west and northwest,
whence also come advices of bad roads,
Gripping farmers ability to deliver wheat
to market. Against this however. must be
cited the fact that primary receipts of
wheat are In excess of one year ago, and
for the season are fully equal to those of
last year. A great burst Of activity in near
ly all lines has followed the freeing Of the
Lower Mississippi section from the numer-
Gus quarantines and country buying Is re-
ported active, being partially stimulated
by cooler weather in that section. From
the Pacific coast. particularly Puget sound
and Columbia river points. the advices are
Of very active trade, heavy grain receipts
being largely absorbed by mills working on
export orders and of increasing trade with
our new dependencies. Here at least the
tone Of business remains rather quiet.
The industrial situation has many points
closely following the workings of the plan
Of restriction. adopted by the Fail river
print cloth mills Much is hoped for from
the reduction in output pledged to OCCUR
between now and February /.
Sales Of wool are Of increased volume, but
much OF this. particularly at Boston, is re-
Changing Of bank loans. The manufactured
product remains slow of sale a first hands,
but advices Of good retail buying are more
numerous, as a result of cold. Indictment
weather. particularly in the west and
south.
The iron and steel situation continues
without much change, though shading OF
satisfy the desire Of producers to maintain n in
tone of business.
In other Industries the report is generally
of plenty of work. but al prices which tend
to confirm the views Of those who claim
that profit margins have been permanently
reduced. Instances of this are found in
New York state industries now than one
year ago and in the reports of implement
manufacturers that on a lot of business
where the per cent Is In excess of last year,
profits have not been proportionately in
creased.
Wheat. including flour. shipments for
the week aggregate I, 800. 991 bushels. against
hv,sh A1- lost II ,.E- Il.
in the corresponding week of 1897. 3.36S, 0CO
bushels in 1896, pa Ola bushels in 1895, and
1894. 372 bushels in 1894.
Since July Of T. this Is, year yso the exports Of
IS. 2S3 h94 bushels last year.
Business failures for the week number
219. as compared with 213 last week. 21S in
this week a year ago, GAG In 1896, 299 in 1895,
and 253 in 1894.
Business failures In the Dominion of Can
ada this Is week num a % against "a last
IS in 1896, and 40 In 1894.
FINANCIAL REVIEW
Bradstreet's financial review tomorrow
Prices declined in the early part of the
week on the decision of the supreme court
against the legality of the joint traffic as
ISOLATION and on the disturbed financial
and political situation abroad which re-
suited In heavy sales of Americans stocks
for London and continental account. Later
improved, and with it the temper of specu-
lation here underwent a decided change for
the better. Leading interests appeared to
take hold of the grangers and other favo-
rite stocks. and there was also slight but
sufficiently marked increase in the outside
participation. At the same time the mar
ket has been professional one and was
influenced largely by manipulation on the
part of large interests. The situa fion
abroad was the main factor, and until II
became reasonably clear that neither war
nor revolution need be apprehended at
present. there was decidedly conserva-
The decision against the joint traffic asso-
citation failed to produce the same impress
sion In speculation as the transmissouri
case did. It would seem that the market
cause the associations has virtually been a
dead letter for months past and because II
is expected that 1t will Lead to action by
congress on the pooling bill.
railroad earnings. particularly at the west,
also tends to minimize the Importance OF
the decision. More or less favorable ac-
counts of trade conditions contributed to
American Sugar stock has been q weak fea-
ture in the maintenance of the competi-
tive price. American Tobacco stock. after
a sharp rise to over 100. reacted. but finally
the plug tobacco manufacturing combine
tdon is to go on after all.
Apart from these two specialties, the in
dustrial stocks have been generally strong.
though the chief activity of the market
was In the railroad share list. which, SELL
ing off early In the week, rallied sharply on
short covering. manipulation and some
fresh buying. the granger stocks taking the
proved on the frosts at the south and the
ending Of the yellow fever epidemic.
II 10 noted that the bond ma rket is active
and strong. win Increased desungs At