The times. [volume] (Richmond, Va.) 1890-1903, 1898-10-22
WHEAT IS THE
RULING FEATURE.
The Active Foreign Demand DOmi-
mates the Business Situation
THE FOREIGN TRADE SITUATION.
The Last Years Figures Point to an
Unprecedented Record of Exporta.
tions-GeneraI Industrial Con-
ditions Continue Favorable.

NEW YORK, oct. 21.-Bradstreets' to-
morrow will say:
The dominant feature of the general
business situation is unquestionabiy the
active foreign demand for wheat. wheat
flour and indeed nearly all wheat products
and the business reported on this account
In the past ten days seems worthy OF
rank with the best recorded in any cor
corresponding period.
While strained stocks abroad and less
satisfactory advices from other countries
notably Russia. Australia and Argentine
have furnished a plausible basis for much
of the recent activity, an additional stim-
ulating feature was injected into the sit
uation this week by the more warlike APP
pearanoo OF the Franco British situation
and the closing days. indeed, witnessed
war rumors In practical command OF the
market inducing much short covering by
steadfast bears.
FORWARD BUSINESS.
Lest the rather moderate figures or
current exports should prove disappoint-
ing. I'm view OF the heavy engagements
reported. # might be remarked that much
Of this demand is necessarily what might
be termed forward business and indeed
stocks I'm this country in spite of heavy
continued deliveries by farmers could
hardly allow Of prompt shipment even
If the ocean freight freight situation was
not a strained one. Quotations for freight
room have, in fact, operated as de-
terrent feature on this export business.
General distributive trade, particularly
at the North appears TO have suffered
from bad weather conditions this week
which have interfered with regular bust
do hfrf IN NJ
has induced considerable buying Of boots
and shoes. rubber goods and heavy cloth
ing at many markets.
The situation at the South is rather
more favorable than for some time past,
this resulting mainly from the abroga-
ton Of many senseless quarantine resu-
lations, as a result of the advance Of the
frost line southwark toward the gulf
Some important changes In the situation
of textile goods and particularly cotton
and wool products appear to be impend-
ing. Rather more frmness has been inn
parted 10 the former staple by the talk
Of frost checking further growth OF the
plant in the South and the establishment
at Fall River OF tho long expected and
often threatened joint selling agency for
print cloths and similar goods has stiu-
ened the price Of those products quite
materially. In wool and woollen goods
too. signs Of improvement are tribe
more numerous.
FOREIGN TRADE.
The foreign trade situation Is about as
described last week, except that large
decreases In few leading exports have
been partly made up by increased snip
ments Of trlCan manufactures, ana
the nine months figures point 10 a COM
plete calendar years business IN ad-
vance OF all predecessors in volume OF
export trade.
our import trade begins 10 show slight
increases over corresponding periods
year ago, and the substitution Of dutia-
BILE for non-dutiable goods points 10 an
easier position in the customs situation.
Prices are quite strong. notable in this
respect being all the cereals, lard, pork
cotton. print cloths and raw sugar. Lit
tic change Is noted in the iron and
steel market. which, as for some time
past. continues quie; as regards new
business. though the mills and foundries
are still actively employed.
The general Industrial situation con-
tinues favorable. employment being quite
general, particularly in the West, except
in the glass industry where shut
down pending a wage-scale settlement
exists.
Wheat, including -four. shipments for
the week aggregate f5sZ,1'5 bushels
against 4.729. 9g5 bushels last week, 5.512ll
bushels in the corresponding week Of
1891; 4. Coz 271 bushels in 1896, 265S.554 bush
els in 1895 and 1858 "a bushels in 1894
Since July 1st this year the exports
OF wheat aggregate 6l,2lO,ss9 bushels
against 72.472 203 bushels In last year.
Corn exports for the week aggregate
2.997. lO2 bushels against 2.1O6,2 bushels
last week. 1.l0.5i3 bushels year ago
2.g79qs4 bushels in 1896 lSi35lO bushels
in 1850. and 92.OS1 bushels In 1894. since
July LIST. this year, corn exports aggre-
gate H.3i5 i3i bushels against 4,o2o5dl
bushels during the same period year
ago.
Business failures in the United States
this week number 2l3. % less than last
week. and compared with % I'm this
week year ago. PIP in 1886, 259 in 1885,
and 22l In 1894
Business failures in the Dominion OF
Canada. o. as against p last week, q
I'm this week year ago, IS in 1896, and
Sc I'm 1898 and 1896