The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-10-29
THE CONDITION OF TRADE
Foreign Affairs Have Influenced
Business.
HELPFUL TO RAILROADS
b Supreme Court Decision Il SO Con-
sidered by he Trunk Lines-More
Cotton Produced Than tho
World Can Consume.

New York. Oct. 2.-R. q. Dun q Co.'S
Weekly Review Of Trade will say to-mor-
row Business has been more affected by
foreign affairs han many realize. Lon
don's apprehension OF war first caused an
advance in wheat and fears Of monetary
pressure. 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 influence American interests
from New York to San Francisco, but
electric wires have made the world small.
So the wires moved a cargo of wheat
from the Pacific coast. started 81. 500.0 600
more gold from Australia to this country
on London account and the selling of
American securities 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 line association is considered help
full to railroads.
Wheat rose considerably to Monday and
then fell 4d4lxc to Friday. But such
changes do not represent actual conditions
and with Western receipts for the week
s.55s. 205 bushels against 6.e96. ~ last year.
nobody can pretend that holdings of
stocks by Western farmers is an import
ant factor
The Atlantic exports. -four included.
amount to 3. 1885, $50 bushels against 1.326.-
sos bushels last year. making 1901 .326
bushels In four weeks against 10. AIS ,047
bushels last year. when the foreign de-
mand was far beyond all precedent.
In four weeks the Western receipts
have been more than 40. $50. 500 bushels
against 20. 723. 2ss bushels last year. and
yet prices are 25c lower. This clearly in
dicates much larger supplies and greater
readiness to part with them than was
seen a year ago. when nobody doubted
the magnitude OF the foreign demand.
Corn refused to follow wheat. but ad-
vanced slightly.
Cotton rose to SIC last week. but has
fallen to sac In spite of heavy frosts in
part of the growing region. This expresses
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 reduc-
ton of consumption abroad. For Euro
pean mills. as well as those of this coun-
try. have surplus stocks produced from
the high-priced cotton OF last year which
they cannot proftably market. Tit frosts
seem not to have damaged the crop appre-
ciably. but a yield much smaller than
has been expected will exceed. with
stocks. the quantity the world can con-
sumo.
Wool dealers nave reached the conclu-
sion that. with the heavy stocks on hand.
II In no longer n question Of profit. hut of
avoiding losses. The concessions have
brought a big increase I'm sales for the
week. though for four weeks the aggre-
gate has been only ASS. 800 pounds
against %. 3ei. 09s pounds last year. 2S.S2O.-
100 pounds In 1896 and 20. SIS. sos pounds In
1892. Now Ohio holders are asking case
less han a month ago. having rs per cent.
OF fine and 10 per cent. of medium wool
yet on hand. while 104. 900 bales of wool are
offered to foreign bidders who may de-
eide to export Il.
Colder weather has made somewhat
more demand for goods. and yet not
enough TO change the situation materially.
The cotton manufacturer has still a de-
mand. late as II If. but the makers are
depressing prices by bidding against each
other. although In the average of all quo
tations the decline has been less than
half of I per cent. from the highest point.
But the wire nail manufacturer have re-
duced prices 5 per cent. and the rail man
~ufacturers, according to current reports,
nave decided not to advance prices and
there is a d prospect that the heavy de-
mand for products will be further en-
couraged by the later quotations.
Failures for the week have been 226 in
the United States against 29 last year,
and "a In Canada against Is last year.