The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-09-24
Bradstreet's Report

NEW YORK, Sept. 23.-Bradstreet's to-
Favorable trade developments manifest
themselves chiefly along the lines pre-
vlously noted. The Importance of large
export demand ,a to the country's domestic
interests Is illustrated by the improved tone
and prices of wheat and -four this week,
growing out OF the better foreign buying,
Induced by less favorable Russian crop re-
ports, smaller shipments from that coun-
Try and apparently continued careful SELL
Ing by American producers. Raw cotton,
on the other hand, reflects proba bllities Of
continued plentiful supply and rather slow
demand in quotations, lower than the low
est point reached in the year Of depression,
1894, when large yield was coinc!dent with
poor trade, industrial troubles and tight
money.
From the west and northwest advices
continue largely In the former cheerful
strain Some relaxation in activity is per-
ceptible In some lines at large markets,
put the volume of trade as whole is evil
IDENTIFY equal to any previous record. At
tne south Cow priced cotton ard yellow
fever quarantine affect trade adversely,
Improvement in one section being counter,
balanced by less favorable advices from
others. Favorable conditions on the Pa
in the states of Oregon and Washington.
conservative management earlier in the
year, however, has resulted in fairly good
conditions in California.
Crops were less favorable than further
north and failures are down to minimum.
At the east the least favorable reports
continue to come from the textile indus
tries. Wool rs quiet and manufacturers
are not encouraged to buy heavily in view
of the very moderate trade in wooden gools.
Cotton goods are In better distribution, but
prices betray the unsettling influences of
lower prices for the raw material, and print
cloths are slightly weaker
Activity In iron and steel manufacture
continues unabated and similar conditions
crate advances in prices has increased, par
tieularly as this country is the cheapest
market for iron and steel In the world.
The export trade In pig iron from southern
vance Of 25 cents rs reported by some of
the large southern concerns.
An improved foreign demand for Ameri-
ments this week. Wheat, Including -four,
against S,e75. 2Sl bushels last week, $50 1875
$50 1876 bushels In 1896. 3151 .a07 bushels In
1895, and 2.562500 bushels In 1894. Since July
! this year exports of wheat aggregate A.
16O, 444 bushels, against 5o130, 525 bushels last
year.
Business failures In the United States
for the week number 1872, against 173 last
week %, are ", With 2Sa IN ts week year
Business failures in the Dominion Of Can
ada number 10, against 20 last week, IS In
this week one year ago. and "a In 1895.
morrow:
Irregularity has been the chief feature Of
speculation. Professional trading and ma
nipulation furnished the bulk of the activ-
lily, and the public Is hardly factor, al
though commission houses are fairly busy.
London has bought few stocks on bal
ance. but as whole the market has rep
resented struggle between bull and bear
speculative interests. in which the money
market and the gold importations have
been used with some effect to influence
sentiment. The principal movement of the
week. however. has been in stocks like Su-
gar, Manhattan, American Tobacco and a
few others, which have acted In accordance
with particular conditions or especial ma
nipulation. The reduction Of the New York
bank surplus reserves to $4,000 900, shown
by last Saturdays averages, was followed
by calling of loans earl ythis week, and
by six per cent call money rate. This
last, however, was only momentary, and
not only were assurances given by bank
ing authorities that conditions were sat
isfactorily adjusted, but as the week pro-
crossed, the fall Of exchange rates and
the engagement Of g, 400,0 900 gold In London
for shipment to New York assisted In
bringing about easier rates for call loans
and more confident feeling in regard to
money. This belief was not shaken by the
advance IN the Bank Of England's discount
rates on Thursedy and the sharp advance
In Interest In London, which would Indicate
that opposition win be offered I'd further
large American Withdrawals Of gold.
Probably the most important event Of