The herald., 1898-05-28
continues satisfactory to the agricultural

continues satisfactory to the agricultural
interest.
The wheat situation shows little change
in the week. but this years and next years
deliveries appear to have parted company,
as shown by the increased stringency of
prices of wheat for immediate use, point
ing to unimpaired strength in the near sta
tistical position, while, on the other hand,
the large yield foreshadowed tends to easi-
ness in the price for next years crop de-
liveries. The price of corn reflects less anx-
iety about the crop, induced by the return
of weather favorable to planting and grow
ing.
vor the cotton crop, dry weather being
complained of throughout most of the
southern and gulf states.
Reports from the iron and steel Industries
are of very large business being done by
the mills and furnaces. The demand for
merchant iron and bars Is reported very
good the later particularly being refiec-
ton of free buying by manufacturers of
agricultural implements, who report heavy
orders, based upon fiattering cereal crop
prospects. The market for pig iron is rather
more quiet, and prices at leading centers
show shading confidence In future large
business, however, being as yet unimpaired.
Signs accumulate that the long-looked-
for Improvement In the wool trade Is nearer
realization, rather more business being re-
ported at most eastern markets. This, in
part, is a result of good buying against
contracts for government work and partly
also, an outcome of the firmer tone and
slightly increased activity at western mar
kets, where prices resulted firmer.
Cereal expofyS continue unprecedentedly
heavy, wheat shipments for the week ag-
gregating LAOS, ,133 bushels. against 1864 200
bushels last week, and 2,OS1 900 bushels the
corresponding week year ago.
Corn exports are among the largest on
record, aggregating 6,164 ,456 bushels this
week, against 900 bushels last week.
and PISS, 900 bushels the corresponding week
year ago.
week number 231, an increase Of 20 over last
week, but compared with 257 the corre-
spending week year ago. Business fail
ures in Canada this week number IS, only
one-half of those of last week, and COM
pared with 70 the corresponding week a
year ago.
Financial Review
will say:
Irregularity in the movement Of prices
this week has been attended by considerable
bullish sentiment and activity. The war
continues to be the principal speculative
factor, and in large degree restricts the
market by rendering the outside public un-
willing to take part in it until there are
further and more decisively favorable de-
velopments This has left matters entirely
in professional hands, although the rank
and file of the Wall street traders are at
present bullish In their ideas and DISPOSE
tion Both the regular professionals and the
large nnancial interests closely connected
with corporations are disposed to pay more
attention to the crops, the prospects of an
other year of large railroad tonnage and
earnings and to the generally favorable
outlook than to the war situation The prin-
cipal movements in prices this week-the
advances in the granger stocks and the
local traction securities-were the result
of influences entirely outside of war de-
velopments In the first-named case the in
crease in the Rock Island dividend and the
probability of an extra one were the moving
factors in prices, and in the latter instance
rumors of connection between the Metro
poitan and the Third-avenue companies
were sufficient to materially advance both
stocks. Other parts of the list also moved
in obedience to circumstances or develop
ments having particular bearing on their
values 1t should be noted that this week
London has changed it's position and has
bought our stocks. instead of selling them.
This change Of attitude Is due partly to
the decline of the money market there
and to an easier feeling about the relations
between England and the continental pow
ers The advance of exchange rates here
seems natural, and attracted little atten-
tion on the stock market, while the very
easy rates for money are an encouragement
for holders of stocks and tend to emphasize
the firmness with which the market resists
bearish pressure or fails to respond to un-
favorable reports.