The record-union., 1898-10-29

NEW YORK, Oct. S.-"Bradstreet's''
tomorrow will say: Irregularities in
prices and trade movements have been
rather more marked this week than for
some time past, but measured by all
OF the usual standards of business de-
velopment, the situation is one Of ex-
ceptional activity and even strength.
The active foreign demand at ad-
vanced prices for American cereals and
their products appeared to have cul-
minated early in the week in virtual
war scare" market, in which the
highest prices reached since early in
August We're recorded. The reaction
shown, however, has been a small one,
testifying to nervousness both at home
and abroad, growing out of exception
ally small gains in worlds supplies, re-
ports of damage to wheat in the fields
in the Northwest and in Manitoba, ac-
tivity in milling demand for wheat at
home, Minneapolis breaking all rec
ords of flour production for the week,
and a continuance of the talk Of rather
less than anticipated out-turns of crops
abroad noted for some time past.
Evidences of reaction in prices are
not confined to wheat, but extend to
Bessemer pig iron, lead and cotton,
while most other cereals, pork and beef,
copper and print cloths have remained
steady and unchanged.
In distributive trade reports of bad
weather interfering with regular de-
mand and collections, but of stimulat-
ing retail trade in heavy winter goods,
come from the West and Northwest,
oIc lNoI
roads, crippling farmers ability to de-
liver wheat to market. Against this,
however, must be cited the fact that
primary receipts of wheat are in ex-
cess of one year ago, and for the sea-
son are fully equal to those of last
year
A great burst of activity in nearly
all lines has followed the freeing of
the lower Mississippi section from the
numerous guarantees, and country
buying is reported active, being par
TALLY stimulated by colder weather in
that section.
From the Pacific Coast, particularly
poirrs the advices are of very active
trade heavy grain receipts being
largely absorbed by mills working on
with our new dependencies.
Here, at least, the tone of business
remains rather quiet
The industrial situation has many
points of interest in good. Much is
hoped for from the reduction in out
put pledged to occur between now and
February 1st Sales of wool are of
increased volume, but much of this,
s1 Tod
moved at concessions caused by chang
ing of bank loans The manufactured
product remains slow Of sale at first
hands, but advices of good retail buy
ing are more numerous, as result of
cold weather, particularly in the West
and Southwest.
The iron and steel situation continues
without much change, though there
is a shading of prices of Bessemer pig
sron and billets to satisfy the desire lof
producers to maintain activity i'll the
face Of confessedly quieter tone of
business.
In other industries the report is gen.
orally of plenty of work, but at prices
which tend to confirm the views Of the
those who claim that profit margins
have been permanently reduced. In
stances of this are found in the reports
of $1,000 more people employed in
New York State industries than one
year ago, and in the reports of i'm
plement manufacturers, that on a lot
of business, where the per cent. is in
excess OF last year, profits have not
been proportionately increased.
Wheat Gncluding -four shipments
for the week aggregate ) 5,500991 bush
els against 4, $50, ,773 last week SSH
391 in the corresponding week of 1897,
8,36S. 000 in 1896, 2.743014 in 1895 and
1884, ,372 in 1894. Since July 1st, this
year, the exports of wheat aggregate
66.T71 $50 bushels. against IS, 2S3, ,594
last year.