The record-union. [volume] (Sacramento, Calif.) 1891-1903, 1898-04-16

Tic SApt1lS IOI Tie week nave DSSu I,
$685. OBJ bushels, against 2,70S, 1873 BUSH
els last year, and for half of April s.
1861, against 6,032, obs bushels last
year. Such extraordinary exports of
corn go far to show that the outward
movement of wheat is by no means of
a speculative character, nor likely to
diminish speedily.
The official report shows that exports
in March were 15,459,575 bushels of
wheat (fiour included), against 1901, 722
bushels last year, and in nine months
from the principal ports 163, 1903, 49,
bushels, against. 1872, 676, 463 last year.
Meanwhile the exports of corn in the
nine months have been 13S,905 934
bushels, against 1875, 1884 ,231 last year.
The volume of legitimate business is
enormous, and meanwhile failures are
remarkably small for the week. They
have been 254 in the United States,
against 307 last year, and IS in Can
ada, against 80 last year.
NEW YORK, April 15.-Bradstreet's
tomorrow will say:
The effect of the prevailing uncer-
taInty in foreign affairs is reflected in a
further perceptible quieting down OF
general trade, so far as future engage
ments are concerned, in nearly all parts
OF the country. While there is a little
more activity to be noted in the de-
mand for seasonable staples at the
West and Northwest, where better
weather has helped retail and whole
sale trade alike, rather more quiet is
reported at the East and at the South
Atlantic and Gulf ports, where the
interruption to business has become
particularly serious, owing to the for
eign controversy. The least notable eff
fects yet exhibited are found in the
Central West, where distribution de-
mand and movement is reported of sea-
sonable character, the only changes
noted, in fact, being the strengthening
of money rates and the encouragement
of new enterprises, such as railroad
building.
In the iron trade business continues
of large volume, but the bulk Of this
is claimed to be on account of orders
previously booked, and new business,
where noted, is for small individual
lots. Price weakness is more marked
also than for some time past. A fea-
ture of the week is reported to be the
gradual getting together of the non
D6SSSIIlSl 1IOu WHO, lOllOW
ing the example set by other branches
of that business, are said to have form
ed a combine which will include nearly
all the manufacturers of foundry pig
iron between the Alleghenies and the
Rocky Mountains.
Wool continues dull at nominal prices
at the East, and the activity in dry
goods is confined chiefly to goods need
ed at once Cotton goods prices are
steady, except for print cloths, talk of
curtailing production is continued. Low
price wOolens continue in most active
demand in this branch of trade. A
heavy export demand is reported and
prices are considerably higher.
The price situation is pne of compar-
ative steadiness. Foreign impressions
as to the situation in Cuba are re-
fiected in sharp advances in wheat,
flour, corn and lard and other food
products. Declines are to be seen in
Bessemer pig iron, steel billets, coffee,
sugar and lead, While, as compared
with week ago, the price of oats,
pork, beef, molasses, copper, cotton,
wool and the manufactured products
| of both of those staples are generally
steady and unchanged.
EASTERN GRAIN MARKET.
! CHICAGO, April 15.-Trade in wheat
started out in the usual jump in May,
and new high prices were made for
| that delivery. May closed yesterday
at 81 117a but opened to-day at all
the way from 81 y to 81 IA, and in
two minutes time it had been bid up
| to 81 Is. Not since 1892 has wheat
reached such a high level. A sharp
break to 81 10 followed, followed by a
quick rally to 81 111a After that all
interest was centered in the avalanche.
July opened at S75sQS77c, compared
with yesterdays closing price of S7Bc.
ures, and the decline which started did
not halt until S63sc- was. recorded. There
the market rested, but only a few min
utes. Liquidating was redoubled, and
it was estimated that at least 5000
j OG0 bushels were dumped on the mar
ket at the hour and a half which fol-
lowed the opening, chiefly for Letter
account, and the heavy lines he dis
posed of, coupled with his enormous
cash sales, the last week must have
materially reduced his line of hold
ings.
The Liverpool market was as@3sd
lower before this market opened, but
apart from that no realization for the
weakness could be gathered from the
news. The heavy holders were evil
IDENTIFY destined to realize their profits
on the recent large advance, and their
action brought nearly all the small
''tailers" in with their lines of long
wheat.
After the July price had got down
to S61kc, the market again quieted
down to a certain extent, and up to
1870 the decline was very gradual.
But in the last half hours trading
liquidation was resumed again, and
this time May also suffered, though
more from lack of support than from
an extensive offering. 1t was evident
then that the early bulge in May was
part of a cleverly prearranged plan
to help Letter liquidate his July hold
ings, and it undoubtedly did act as
steadying influence during the first ire
mendous flood of wheat.
The market became very weak to-
ward the close and the lowest prices
of the day for July were quoted. July
closed at S434@S47sc and May closed
at 81 90, after selling at 81 W..
Still at the Old Stand.
| o1J ctr hy