The times. [volume] (Richmond, Va.) 1890-1903, 1898-10-29
THE WAR SCARE
AFFECTS TRADE.
The franco-EngIish troubles Cause
Considerable Fluctuations.
COTTON PRICES CONTINUE LOW.
Even With n Small Yield the Market
is vcr-Supplied-WoolD Dealers arc
Selling Hourly at a Loss-lron
Wares in Good Demand.

NEW YORK, October pr. G. Dun
a. cos Weekly Review of Trade VIII
say tomorrow:
Business has been more affected by
foreign affairs than many realize. Lon
don's apprehension OF war hrst caused
advance in wheat and fears Of monetary
pressure here. Then came confidence in
London. with a flight OF French money
across the channel and stock markets
advanced while wheat fell. MODS IN
Paris did not mean TO influence Amerl-
can interests from New York 10 san
Francisco. but the electric wires made
the world small. SO the wires moved
cargo of wheat from the Pacinc coast
started 81. $4,000 more gold from Austrdhd
to this country on London account anu
the selling Of American securities one
dag and buying the next
THE TRAFFIC. DECISION.
There has been no domestic change u
much Importance. and the rise IN pIlces
OF western railroad stocks Indi ;ltes that
the Supreme Courts decision against
The Trunk Line Association 5 considered
helpful to railroads.
Wheat rose cents from Friday 10
Jcrday. and then fell i-2 GEMS 10 fri
day. But such changes do not repre-
sent actual conditions. and with western
receipts for the week 9.b5S.2oo 0lshels
against 6.996iS7 last year. nobody can
pretend that holding OF stocks by west
ern farmers is an important factor. Inc
Atlantic exports. -four included. amount
to S.79G. $50 bushels. against SS64,6is last
var. and Pacific exports S25,9s4 busnalS
against 1926 SOS last year. making 10
COZ 1926 bushels I'm four weeks against
1qnS.Si7 last year. when the foreicn de-
mand was far beyond ali precedent. In
four weeks tho western receipts have
been over 4O.l50Ga9 bushels against 90
723. 2SS last year. and yet prices are %
cents lower This clearly indicates much
larger supplies and greater readiness 10
part with them than was seen year
ago. when nobody doubted the magni-
tude of the foreign demand.
CORN Is SCARY.
Corn refused 10 follow wheat but slowly
advanced. Cotton advanced 10 l-2 last
week, but has fallen to SO IN spite OF
heavy frosts I'm part OF the growing re-
eion. This expresses strongly the belief
that n non-curtailment OF yield is posi-
bic and will affect the surplus more than
the closing Of eastern mills one month
in three and the reduction Of consump-
tion abroad. for European mills, as well
as those I'm this country, have surplus
stocks produced from the high-priced
cotton of last year which they cannot
nroGtablv market. There has been
some closing Of mills in the South ana
also some reduction of wages. The
frosts seem not 20 have damaged the
crops appreciably. but yield much
smaller than has been expected VIII eN-
coed with old stocks, the quantity the
world can consume.
LOSSES IN WOOL.
Wool dealers have advanced the conclu-
sion thai with the heavy stocks on hand
# is no longer a question Of profit. but
losses and concessions have brought big
increase on sales for the week though
for four weeks the aggregate has only
been Il SOS. 900 pounds. against 36.3gi'O9S last
year. 2S 800. 100 in 1896. and 2652S.J0S in lSs2-
The iron manufacturer has still good
demand. late as It IS. but thu makers
are depressing prices by bidding against
each other. although I'm the average OF all
quotations the decline has been less than
half Of one per cent. from the highest
point. But the wire nail manufacturers
have reduced prices five per cent. and
the rail manufacturers according TO cur
rent reports. have decided not TO advance
prices. and there Is "a prospect that heavy
demand for products will be further en-
couraged by the later quotations.
Failures for the week have been 226 IN
the United States. against 2l9 last year
and "a in Canada against p last year.