The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-29

Have Done Some Damage.
NEW YORK, Oct. 2S.-Bradstreet's .tomor-
low will say:
Irregularity in price and trade movements
has been rather more marked this week than
for some time past, but measured by all the
usual standards of business development the
situation is one of exceptional activity and
even strength. The active foreign demand at
advancing prices for American cereals and
their produces appeared to have cuimInated
early in the week, III virtual war scare
market in wheat. Highest prices reached
since early in August were recorded. T'he
reaction shown, however, has been a small
one, teStifying TO nervousness both at home
and abroad, growing out OF the exceptionally
small gains in worlds supplies, reports or
damage 10 wheat in the feds IN the North-
west and in Manitoba, active milling demand
for wheat at home, Minneapolis breaking all
RECORDS of -four production Tor 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 III
prices not confined to wheat, but extend
TO lard and coffee, among food products.
Bessener pig iron, lead and cotton, while
most cereals, pork and beef, copper ana
print cloths, have remained steady and un
changed.
In distributive trade reports Of bad weather
interfering with regular demand and ccllec-
tons, but OF stimulating retail trade in heavy
winter goods, coming from the West and
Northwest whence also come reports Of bad
roads, Gripping farmers ability to deliver
wheat to the market. Among these facts.
however, must be quoted that the primary
receipts of wheat are in excess of q year ago
aud for the season 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 valley sections from the
numerous guarantees and country buying IS
reported active, being particularly stimulated
by cooler weather in that section. From the
Columbia river points, the advices are of
very active trade, heavy grain receipts being
taken up by mills working on export orders,
ana OF increasing trade with our new depend
encieS. Here at the East the tone of business
remains rather quiet.
The Industrial situation has many points of
IF--s:F7 tx cotton gooda trade Is
CLOSELY following 10. WORKINGS of the man Of
restriction adopted by the Fall River print
cloth mills. Much is hoped for from the re-
ductiOn in output expected to occur between
now and Feb. l. Mills employing $500 oper-
atiyes shut down this week but the non-in-
Guiding Of mills producing similar lines in
New England cities and lack of knowledge of
the extent 10 which these concerns will seek
to extend the foreign outlet for these goods
are uncertain features in the outlook for
continuance of present firm quotations. The
movement Of raw produce to market stimu-
lated probably to some extent by removal of
quarantine restrictions, is now far in adj
Vance-3OO,OCO bales at least-of last year
and expectations of a heavier crop than last
year is a feature more than offsetting re-
ports Of killing frOsts throughout the South
Prices are consequently lower and speculation
lags. Sales OF wool Of increased volume
but much Of this, particularly at Boston, Is
accounted for by changing Of accounts. The
manufactured product remains slow of sale
at first hands, but advices of good retail buy
Ing are more numerous as a result of cold
wet weather, particularly West and South
Wheat, including flour, shipments for the
week aggregate 5,5O0,9 $50 against 4,5S2,573 bu
< hYT i1 fhn
week of 1897; 1858, coo blu in 1896; 2,793 Ola bu
In 1855, and 1864 ,372 blu in 1894. Since July l.
TINS year, the exports of wheat aggregate Co.
IL, $50 bu against rs. 2S6 594 blu last wear Corn
1A2orts for the week aggregate 2,424376 bu
against 1881, S91 blu last week, l 591 593 bu in
thlS week year ago; 2649,425 blu in 1896;
LS'O,56l blu in 1885, and 522 bu in 1894.
Since July l, this year, corn exports aggre-
gate 46,T78,810 blu against As, 500 800 blu during
the same period year ago.
Business fai'u res for the week number
2l9 as compared with 21S last week; 21S in this
week year ago. 246 in 1896; 299 in 1885, and
Z5S in 1894 Business failures In the Dominion
OF Canada this week number r26 as against 40
last week; 29 in this week a year ago; 81 in
1876; AZ in 1895, and IS in 1894.
NEW YORK, Oct. 28.-R G. Dun & Co,
weekly review Of trade will say tomorrow:
business has been more affected by foreign
aHalrs than many realize. London's appre-
henslon OF war first caused advance in
%heat ana Tears OF monetary pressure here.
linen came confidence in London with a
night OF French money across the channel
ana ock market advanced while wheat fell
McbS in Paris did not mean to influence
american interests from New York to San
FRANC SEQ, but electric wires have made the
world small. So the wires moved a cargo of
wheat from the Pacific coast started 50 400 :
OU0 more god from Australia TO this country
on LcndCn account, and the selling of Ameri.
can securities one day and buving the naxf
There has been no domestic change of much
importance; and the rise in prices of West
eam falIroad stocks indicate that the supreme
ccur- decision against the Trunk Line asso-
citation is considered helpful to railroads.
Cotton rose to Size last week but has fall
len to 5$sc. in spite Of heavy frosts in mart
of the growing region. This expresses strong.
~ the belief that non-cuTtailment of WELD
IS possibility that will effect the surplus NOR
IMAM the closing OF Eastern mills one month
IN three, and the reduction of consumption
ABROAD. For European mills, as we'll as
Inose or this country, have surplus stocks
produced from the high-priced cotton of last
year Whlch they cannot profitably market
dhere has been some closing Of mills AFT the
south, and also some reduction of wages
Inc frosts seem to have damaged the cror
appreciably, but yield much smaller than
mas been expected will exceed with old stocks
the quantity the world can consume
- Wo9i dealers have reached the conclusion
Ih3t with The heavy stocks on hand it is mr.
longer question Of profit but of ayoidino
losses, and concessions have brought q hie
increase in sales for the week. though foI
four weeks the aggregate has heen on1y ~
S9oUl0 lbs, against SO 394. 098 last wear %
S20100 in 1895 and 26, 598. sos in 1892 Now
ONO holders are asking 2 to &c less than :
mHonh ago, having Is per cent of fine and
~ per cent of medium wool vet on hand
while goo bales of wool are offered to for.
elEh bidders: who may decide to export it
Colder weather has made somewhat rnort
deIn2nd for goods, and vet not enouoh r.
ch2nge the situation materially. "
Inc IRON manufacture has still good do
mand. late as it is. but the makers are hresl
Ing prices by bidding against each other
thcugh in the absence of ali quotations tn,
declIne has been less than u of / Der cen
from the high point, but the wire no n n,snT
iacturers have reduced prices per cent, anf
tne ran manufacturers, according to curren
REPORTS, nave decided not to advance prices
ana there is a prospect that a heavy demand
tatons. ~ i'ei quo
Failures for the week have been 22e IN tn.
- GDl G states. against H9 last year, and 3
IN Canada, against % last year.
-, NEW YORK, Oct. 2S.--Bradstreet's hnan
eial review tomorrow will saw:
Prices declined in the earlier rart NJ IN
week on the decision of the supreme cour
against the legality OF the Joint Tram
ASSOCIATION and on the disturbed commercia
and political situation abroad which resl1ta.
IN heavy sales Of American stocks for Ion
oon and continental account Later On N,
Quuook was somewhat improved and with
the tenor of speculation underwent cbopo
for the better. London interests snDeareT :,
take heart from the grapgers and other ia
NoIlIt SUCKS, ana there was a SHIRT bu
marked increase in the outside PARTICIPATION
At the same time the market has hem mo n
~ a professional ore, and was influence
largely by manipulation on the rart Of larg
interests: The situation abroad was the mai
!actor Inc decision in the Joint Traffic cas
failed to produce the same impression /,
SSpecu alton as the trans Missouri case did
~ would seem that the market disrega, d,
the present adverse decision because the do
clslon has practically been dead letter f.
months past and because it is exp-cfed 1
wllI lead to action by congress in regard t.
ports minimized the Importance Of the a.
cision vi 'He u