The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-10-29
Southwestern and Atchison being the fea-
Dun & Co.'s Review

NEW YORK, Oct. 2S.-R. G. Dun & Co.'S
weekly review of trade will say tomorrow:
Business has been more affected by for
eign affairs than many realize. London s
apprehension Of war first caused an ad-
vance in wheat and fears of monetary PRES
sure here. Then came confidence in Lon
don, with a flight of French money across
the channel and stock markets advanced
while wheat fell. Mobs in Paris did not
mean to influence American interests from
New York to San Francisco, but electric
wires have made the world small. The
wires moved a cargo of wheat from the
Pacific coast, started $2,5O00N more gold
from Australia to this country on London
account, and the selling of American secu-
rifles one day and buying the next.
There has been no domestic change of
much Importance, and the rise In prices OF
western railroad stocks indicates that the
supreme court decision against the trunk
lines association is considered helpful to the
railroads.
Wheat rose cents from Friday to Mon
day, and then fell Az cents to Friday: But
such changes do not represent actual con-
ditions, and with receipts for the week OF
0, 958, 205 bushels, against 6996,5S7 last year,
nobody can pretend that holding of stocks
by western farmers is an important fac
tor. The Atlantic exports, flour Included,
amount to 3,796,S3O bushels, against 1851, $40
bushels last year, and Pacific exports so, 1874
bushels, against 1895, 1903 bushels last year,
making 16GO7,362 bushels In four weeks.
against 19,4lS,Vi7 bushels last year. when
the foreign demand was past Ill precedent.
In four weeks the western receipts have
been over 40, $50 ,699 bushels, against 80, 723.
2SS bushels last year, and yet prices are 20
cents lower. This clearly indicates much
larger supplies and greater readiness to
part with them was was seen year ago.
when nobody doubted the magnitude of the
foreign demand.
Corn refused to follw wheat, but slightly
advanced.
Cotton rose to SAC last week, but has
parts of the growing region. This express
es strongly the belief that non-curtailment
of yield Is possible that will affect the sur
plus more than the closing of eastern mills
one month in three and the reduction OF
consumption abroad, for European mills,
as we'll as those In this country. have sur,
plus stocks produced from the high-priced
cotton of last year, which they cannot
profitably market.
Wool dealers have reached the conclusion
that, with the heavy stocks on hand, IT -
ing losses The concessions have brought
big increase in sales for the week. though
for four weeks the aggregate II, has SO been ,
only a pounds against 81 so 6s r. sds ast
Now Ohio holders are asking = to cents s
less than a month ago, having 70 per cent
of fine and 40 per cent OF medium wool ycl
on hand, while 164,00 bales of wool are o.
fered to foreign bidders, who may decide
to export it. Colder weather mas made
somewhat more demand for goods ana yet
NOT enough to change the situation mater1-
ally, The cotton manufactures has still a.
good demand, late as it is. but the makers
are depressing prices by bidding against
each other, although in the average, of
ali 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 current
reports, have decided not to advance prices
and there is a prospect that heavy demands
for products will be further encouraged by
the later quotations. mo l.,
Failures for the week have been 22S IN
the United States against 2l9 last year,
and "a In Canada, against rs last year.