Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-10-29
WORLD MADE SMALL.
ELECTRIC WIRES BRING ALL NAH
KETs TOGETHER.
THE INFLUENCES ON BUSINESS.
London's Apprehension OF war
Caused Advance I'm Our Wheat-
Nobs in Paris sfarfeu "o'" '""
.,s,r,Ita-The Weeks Trade.

NEW YORK. October 2S.-Messrs. r.
G. Dun &, Co.'S weekly review Of trade
will say tomorrow:
Business has been more anected by
foreign affairs than many realize. Lon
don's apprehension Of war first caused an
advance i'm wheat and fears Of monetary
rroee,,ra here. Then came confidence In
London. with q flight of French money
across the Channel. and stock markets
advanced while wheat fell Inc mons
IN Paris did not mean 10 influence
American interests from New York TO
Son Francisco. but the electric wires
r,oda the world small. SO the wires
moved a cargo Of wheat from the Pacific
coast started S2.5OOOO0 more gold from
Australia to this country on London ac-
count and the selling of American secu-
rites one day and buying the next
There has been no domestic chahse Oh
much importance, and the rise III pIiVes
30 western railroad stocks indicates mat
tho Sunreme Court decision against the
Trunk Line Association ~ coHSiuo'' '
helpful TO railroads.
WHEAT.
Wheat IS
dov and then fell 41-2 cents 10 Friday.
put such changes do not represent actual
conditions. and with western receipts
Cor the week 9.55S.205 bushels, against
& gQ6 l7 last year, nobody can pretend
that the holding of stocks by western
farmers is an important factor.
The Atlantic exports, flour lncluueu'
amount to S.7gsS3O bushels. against 3,S5i =
6l9 last year, and Pacific exports s-',y9i
bushels against .S26 sos last year, max
ing 5000. 1876 bushels In four weeks
against 19AS.Sr last year. When the LOT
eigu demand was far beyond all prece-
dent. In four weeks, the western re-
CENTS have been over 40, 1903 bushels
ogdinst 20 723 28S last year. and yet prices
are d cents lower This clearly indicates
uuch larger supplies. and greater reaul-
ness TO part with them than was seen
a wear ago, when nobody doubted the
magnitude of the foreign demand.
Corn refused to follow wheat. put SLOW
ly advanced.
COTTON.
Cotton advanced to Size. last Week
but has fallen to 3-Sc., In spite of heavy
frosts I'm part Of the growing region. inns
expresses strongly the belief that non
curtailment of yield Is possible. ana viii
affect the surplus more than the closing
Of eastern mills one month IN three, anu
the reduction of consumption ABROAD Iol
the European mills as well as those Oh
his country. have surplus stock. produced
from the high-priced cotton OF last year
which they cannot prOlitably market.
Tbera has been some closing of mills in
the south. and also some reduction OF
v,oes The frosts seem not 10 nave
domaued the crop appreciably. but a yleiu
much smaller than has been expected VIII
exceed. with old stocks, the quantity the
world can consume.
WOOL
Wool dealers have advanced the con-
clusion that with the heavy stocks on
hand il is no longer a question OF proII
INT losses and concessions have brought
n big increase in sales for the week
though for four weeks the aggregate mas
only been II. $500 pounds, against 30
3s4 C9S last year, 2S,32O,lo0 In 1885, and ~
j2S, 500 in 1892.
The iron manufacturer has still good
demand. late as II Is, but the makers are
depressing prices by bidding against each
other. although i'm the average Of all quo
cations the decline has been less than
half of 1 per cent. from the highest point
But the wire-nail manufacturers nave
reduced prices per cent, and the ran
manufacturers, according TO current re-
ports. have decided not to advance prices,
and there is a prospect that the heavy
demand for products will be further en-
Outraged by later quotations.
FAILURES.
Failures for the week have been 226 in
the United states against 2l9 last year,
and a I'm Canada against p last year.