The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-22


Bushels in Excess of Those for
the Corresponding Week Last
Year-Iron Market Hesitatss.
NEW YORK. Oct 21-Bradstreet's tomor-
row win say:
The dominant feature of the business stu
alton is unquestonably the active foreign de-
mand for wheat, wheat -four and indeed all
our cereal products and the business report
ed en- this account during the past ten days
seems worthy of rank with the best recorded
in any corresponding period While strait
ened stocks abroad and less sat sfactory ad-
vices from other countries notably Russia,
Australia and Argentine have furnished a
plausible basis for much of the recent ac-
tivity
An additional stimulating feature was in
iectsd into the situation this week by the
mere warlike appearance of the Franco-Bri;-
ism situation and the closing days indeed
witnessed war rumOrs in practical command
OF the market inducing much short covering
by sjeadfast bears. Lest the more moderate
figures of current export should prove dis
Courdging in view of the heavy engagements
reported it might be remarked that much Of
this demand IS necessarily what might be
termed forward business and indeed stocks
in tlis country, in spite of heavy current de
HNtuNs by farmers could naidiy allow or
prompt shipment. even if the ocean freight
situation was net u strained one. Quotations
for freight room have, in fact operated as
General distTibutive trade, particularly at
the NOJth. appears 10 have suffered from bad
weather conditions this week, which have in
tCTfered with regular business and deliveries,
but the OtGCr hand has induced consider
able buying of boots and es, rubber go IDS
and heavy clothing at many markets. The
situation at the South is rather more favor
able than for some time pas, this resulting
mainly from the abrogation OF many sense
less quarantine regulations as the result of
the advance OF the frost line southwark
toward {SlTlF The foreign trade Situation
IS about as described last wSek, except tn 1t
large decreases in a few leading exports have
been partly made up by increased shipmen
OF Am rlcan manufacturers and the nine
months figures point to a complete calendar
years business in advance o. all predeces 3ors
in volume of expert trade. Our import trade
begins to show Slight increases over cor
responding periods a year ago and the sub
stitution Of dutiable for non-dutiable goods
in this movement points to an easier position
in the custom situation.
Wheat. including -four. shipments for the
week aggregate T. 49,, $50 Blu, against 4,729 995
bu last week, 5,552,17l bu IN the correspond
Ing week of 1897 4607, 221 bu in 1898: 1888 554
Blu in 1895 and 1858, IA blu in 1894. Since
July l, this year, the exports Of wheat ag
gregate 81, 4S1, 4SS bu, against 72, 412, $50 bu
last year. Corn exports for the week aggre-
gate 397, 1871 bu, against 1856 2S2 bu last
week; I1T7543 bu in this week a year ago;
2979.9S4 bu in 1896; 1.34S, 050 bu in 1895, and
902.S02 blu in 1894. Since July l. this year.
corn exports aggregate 44,345, 4S4 blu. against
E,02Q, 361 blu during the same period year
ago.
Business failures in the United States this
week number 183-twenty less than last week,
and comparing with 205 in this week a year
ago, 212 in 1895; 279 in 1895 and 221 in 1894
Business % failures in Canada number q,
ago, So in 1885 and SO in 1895 and 1894.
NEW YORK, Oct 21-R q. Dun & Co.'s
weekly review Of trade will say tomorrow:
With growing foreign demand for Ameri-
can products, exchange is Influenced mainly
Ry politicsS uncertainties abroad. While
Europe aWaSs for the outcome between Eng
land and France Of the upper Nile ques-
ton, the hnancieTs Of all European countries
are trying to force upon each other the bur
den Of providing cash for the enormous de-
mands Of the United States. England has
so managed as to make France and Germany
send most Of the gold, and the resulting
war OF exchanges between foreign nations
Checks for the moment C&e 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 previous
years. The exchanges through all clearing
houses for the past week have been per cent
larger than last year, and 1.6 per cent larger
than in 1892. but outside Of New York, for
the week, transactions were smaller than in
1892. The outgo of wheat staggers all predio-
lions Of disaster, but while the price has ad-
Vanced &c at the West, the advance would
have been much greater but for the feeling
that the enormous foreign demand may not
last.
While cotton spinners are said to have
agreed upon selling agency and a curtail-
menL OF poouCtloh, mere Is a better de-
mand for staple goods and prospect of
better demand in future. In wooden goods
also. there has been a marked Improvement
during the past week, and better sales, with
largest transactions in the wooden market
eales having amounted for the past week
TO 1850 400 lbs, of which 2,T44O0 were do
nestc, making for the past three weeks TO-
SS6 100 lbs, against 81 612 090 for the same
weeks last year, 2O,7A 800 for the same weeks
n 1886 and 19, 49,, 500 for the same weeks in
1892. Sales in Boston have been the larg-
Ast for nearly two months, but at some con-
session in prices, which are not reported in
published quotations With orders as yet
undecided for the next season the manufac-
turers are altogether encouraged by the in
expected demand has set in. But there Is
yet the fact that the current demand is
largely for low-priced goods:
mere IS much hesitation in the iron and
steel trade, partly because of the outcome
OF various combinations in Bessemer pig
steel rails. bars; wire nails and the like can
prices are expected to result from these move
ments it has not appeared thus far Yet
prices Of domestic products have not declined
ana although the tone is somewhat weaker
Tof bars and plates. quotations are in part
suS aimed by considerable orders for ex-
ports. The plate mills have received orders
for $4,000 tons from the government for shin
purposes and the bar and billet markets have
had encouraging demand.
failures for the week have been 221 in the
United States, against 226 last year, and "a
IN Canada, against Sc last year.
NEW YORK. Oct 21.-Bradstreet's financial
review tomorrow will say:
Dizziness Of a profound kind settled down
on the stock market this week. On at least
Two days the total trading on the stock ex-
chahge Tell to less than 100000 shares and
throughout the week the public has h an
assent and the transactions entirely nrofe g.
sional The disposition on all sides is 10
wait for the elections and the outcome oF
the foreign political complications The rise
OF the European money markets and the
threatened trouble between England and
france have led to some selling by London il,
our market In spite of the dullness the
waiting. and the unfavorable and disturb; ng
outlook abroad prices have not declined save
IL lew special cases and the undertone
OF the market was strong. The public is
not selling even if it viii not buy Securities
at present, and holders seem to be encourag ed
by the ease Of money, the satisfactory rail-
FCao earnings and traffic sE5 the heavy export
purchase of our breadstuffs. The profession
al snort interest has consequently been forced
TO cover from time to time, and the marker
as a whole displayed greater readiness TO adj
vance than to sell off. Bonds have been duII
Dut hrm though the demand for governments
ard the advance Of the new per cent war
DohdS TO lG5B were among the few features
OF the week. The abundance of caDital for
investment is shown by the large buying ~
DIS OF foreign exchange that is now in nro-
gress and by the utter Indifference of orr
money market to the rise of discounts ard
recent marking up Of bank rates moi OIL