The star. (Reynoldsville, Pa.) 1892-1946, 1898-11-02
TRADE REVIEW.
Rumors Of War Affecting the Markets Of Europs
--Good Demand for Iron.

Rumors Of War Affecting the Markets Of Europe
--Good Demand for Iron
X. @. Dun & Co.'S weekly review OF
trade reports as follows for last week.
Business has been more affected by
foreign affairs than many realize.
London's apprehension of war first
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. Mobs in Paris did not mean to in
auence American interests from New
York to San Francisco, but electric
wires have made the world small. SO
the wires moved n cargo of wheat from
the Pacific coast, started 81. .500,0 900
more gold from Australia to this coun-
try on London account. and the selling
OF American securities one day and
buying the next.
Wheat rose Sc from Friday to Mon
day. and then fell 4zc to Friday. But
such changes do not represent actual
conditions. apd with western receipts
for the week 9.55s. 200 bushels, against
6,996,4S7 last year, nobody can pretend
that holding of stocks by western
farmers Is an important factor. The
Atlantic exports, -four included,
amount to 3.796.s30 bushels, against o.
S64649 last year, and Pacific exports
s25,994 bushels, against 1,326,s0S last
year. making 1G,607, 1862 bushels in four
weeks. against f9,41s. .s47 last year, when
the foreign demand was far beyond all
precedent. In four weeks the westernI
receipts have been over 40,150, 1891
bushels. against 3O,723,2Ss last year,
and yet prices are 25c lower. This
clearly indicates much larger supplies
and greater readiness to part with
thnm Va
nobody doubted the magnitude OF the
foreign demand. Corn refused to fol-
low wheat. but slightly advanced.
Cotton rose to 1-2c last week. but
has fallen to 3-Sc in spite of heavy
frosts In part of the growing region.
This expresses strongly the belief that
no curtailment Of yield is possible that
will affect the surplus more than the
closing of eastern mills one month in
three. and the reduction Of consump-
ton abroad. For European mills. as
well as those of this country have sur
plus stocks, produced from the high
priced cotton Of last year, which they
cannot profitably market. There has
been some closing OF mills at the
South, and also some reduction OF
wages.
Wool dealers have reached the con-
clusion that, with the heavy stocks on
hand, II is no longer question of
profit. but Of avoiding losses and con-
oessions that has brought a big In
crease in sales for the week, though for
four weeks the aggregate has been
only 1885. 800 pounds. against 36.394.0ss
last week. 1880. 100 In 1896 and 1885,
sos in 1892. Now Ohio holders are ask
ing 2G3 cents less than a month ago,
having 75 per cent OF fine and 40 per
cent OF medium wool yet on hand,
while 10 900 bales of wool are offered to
foreign bidders. who may decide TO ex-
port 1t.
The iron manufacture has still q
good demand. late as 1t Is, but the
makers are depressing prices by bid
ding against each other. although In
the average of all quotations the de-
cline has been less than half of I per
cent from the highest point. But the
wire nail manufacturers have reduced
prices per cent and the rail manu-
facturers. according to current reports,
have decided not to advance prices.
and there Is a prospect that heavy de-
mand for products will be further en-
couraged by the later quotations.
Failures for the week have been 2e6
In the United States. against 2lS last
year. and ~ in Canada. against 25 last
year.