The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-10-29


NEW YORK, Oct 2S.-Bradstreet's tomor-
row will say:
Irregularity in Price and trade movements
has been rather more marked this week than
for some time past, but measured by all the
usual standards of business development the
situation is one of exceptional activity and
even strength. The active foreign demand at
advancing prices for American cereals and
their products appeared to have eliminated
early in the week, in a virtual war scare"
market in wheat. Highest prices reached
since early in August were recorded. The
reaction shown, however, has been a small
one, testifying to nervousness both at home
and abroad, growing out of the exceptionally
small gains in worlds supplies, reports OF
damage to wheat in the feds IN the Nortn-
west and in Manitoba, active milling demand
for wheat at home, Minneapolis breaking all
records Of -four production tor the week, and
a continuance of the talk Of rather less than
anticipated out-turns Of crops abroad noted for
some time past. Evidences of reaction in
prices are not confined to wheat, but extend
to lard and coffee, among food products.
BeSSemer pig iron, lead and cotton, while
most cereals, pork and beef copper and
print cloths, have remained steady and IN
changed.
IN distrbutive trade reports of bad weather
interfering with regular demand and collec-
lions, but OF stimulating retail trade in heavy
winter goods, coming from the West and
Northwest, whence also come reports OF bad
roads, Gripping farmers ability to deliver
however, must be quoted that the primary
receipts Of wheat are in excess Of year ago
and for the season are fully equal to those
of last year. great burst of activity in
nearly all lines has followed the freeing of
the lower Mississippi valley sections from the
numerous QuaIantineS, and country buying IS
reported active, being particularly stimulated
by cooler weather in that section. From the
Pacific coast, particularly Puget sound and
Columbia river points, the advices are of a
very active trade, heavy grain receipts being
Kan nm Nv Nc -NlyS I,,rC
and Of increasing trade with our new depend
encies. Here at the East the tone of business
remains rather quiet.
The Industrial situation has many POINTS Of
interest in it. The cotton goods trade is
closely following the workings of the plan of
restriction adopted by the Fall River print
cloth mills. Much is hoped fer from the re-
duction in output expected to occur between
nov and Feb. l. Mills employing $500 oper-
Rtiyes shut down this week, but the non in
Guiding of mills producing similar lines in
New England cities and lack OF knowledge of
the extent to which these concerns will seek
to extend the foreign outlet for these goods
are uncertain features in the outlook for a
continuance OF present firm quotations. The
movement Of raw produce to market stimu-
I2ted probably to some extent by removal Of
quarantine restrictions, is now far in ad-
Vance-5G0 Geo bales at least-of last year
and expectations of a heavier crop than last
year IS a feature more than offSettng re-
ports Of killing frOsts throughout the South
Prices are consequently lower and speculation
Lays Sales Of wool are of increased volume,
but much OF this particularly at Boston, Is
accounted for by changing of accounts. The
manufactured product remains slow of sale
at hrSt hands, but adviceS Of good retail buy
ing are more numerous as q result of cold
wet weather, particularly West and South.
Wheat, including flour, shipments for the
week aggregate 5,500,990 against 1852, 573 bu
last year, :, 81, 1911 blu in the corresponding
week Of 1897; 3,36S 600 bu in 1895; 2,793 Ola bu
In 1885 and 2,964372 Blu in 1894. Since July /,
this year the exports of wheat aggregate &C.
$50 bu against rs, 2S6 594 bu last year Corn
exports for the week aggregate PAPA, 376 bu
against 1887 S91 Blu last week, l, 591, 1893 bu In
this week a year ago; 2,649, 425 blu in 1896;
I9f0,56l bu in 1885. and lac, 522 blu in 1884,
Since July l. this year, corn exports aggre-
gate 46,HS8lO bu against As ,609, BOO blu during
the same period a year ago. ~
Business failures for the week number
2I9 as compared with 213 last week; 21S in this
week a year ago; 246 IN 1896; 299 in 1895 and
z55 IN 1884. Business failures in the Dominion
Oh Cah2@a THIS week number 26 as against 40
last week; 20 in this week a year ago; 81 in
1896; AZ in 1885, and As in 1894
NEW YORK Oct. 28.-R. G. Dun 3 Co.'s
weekly review of trade will say tomorrow:
business has been more affected by foreign
9nalrs than many realize. London's appre-
HtHSIOh OF war hrst caused an advance in
wheat and fears of monetary pressure here
Ihen came confidence in London with A
Hight of French money across the channel
ana SOCK market advanced while wheat fell
MCbS in Paris did not mean to influence
American interests from New York to San
HIdItC-SCO, out electric wires have made the
"OrId small Sc the wires moved a cargo of
wheat from the Pacific coast started s.. 500
W. more god from Australia to this country
on LondCn account, and the selling of Ameri-
can securities one day and buying the next
There has been no domestic change of much
importance, and the rise in prices Of West
ern railroad stocks indicate that the sl1Drama
cour- decision against the Trunk Line ASA
clauCn is considered helpful to railroads
cotton rose to 51ac last week, but has fall
zen 70 0Fsc. IN spite of heavy frosts in part
OF the growing region. This expresses strong
~ the belief that non-curtailment of weld
IS possibility that will effect the sllrDI11s NOR
than TIE closing Of Eastern mills one moniS
IA three, and the reduction of consumption
ABROAD tba Fer European mills as well as
tHoSe OF ms country, have surplus stocks
produced from the high-priced cotton Of Iasf
year which they cannot proitabIy market
rrneTe mas been some closing of mills at the
south and also some reduction of wages
Inc froSts seem to have damaged the cron
SPpreclabiy, but a yield much smaller thu
mas oeen expected will exceed with cd stocks
uie quantity the world can consume
=, Wool dealers have reached the conclusion
1fa5L. with me heavy stocks hand it is no
longer question Of profit but of avoiding
Increase IN sales for the week though for
four weeks the aggregate has been only IA :
g., q Jo9 IDS against 36 394,09s last year rs
SSzUIV0 IN 1895 and 26,538, SOB In 1892 Now
0Llo holders are asking 2 to Sc less than a
I 10 ago having IS per cent of fine and
wbi Isr 10 c 96n OF medium wool vet hand
%nIe ig,gO bales Of WOO! are offered to for,
eish bidders. who may decide to qxport II
SSoIuer weather has made somewhat more
demand for goods, and vet not enouoh oi ~ .
ch22Pge. the situation materially, 70
me IRON manufacture has still a good a.
i4u !dIe as IL is. but the makers are hreak
ne hg prices by bidding against each Other
Ihough IN the absence of all quotations ~ >
oecllne has been less than u of ner con-
from the high point, but the wire nal NAM
!actureTs have reduced prices 3 per cent and
the rail manufacturers. according to cnrrent
reports, have decided not to advance prices
ana there is prospect that heavy demand
TOT produces will be encouraged by later a1Io-
tati0Ds. 'ei q"o-
Failures for the week have been 22s !, t,,o
United States, against PIG last year and "a
IN Canada, against 25 last year.
NEW YORK. Oct. 28.-Brsdstreet's Anan-
elai review tomorrow will say:
Prices declined in the earlier pa4t Of tha
week on the decision Of the supreme court
against the Legality Of the Joint Traffic
and political situation abroad which
IN he2Yy sales of American stocks t9r I'm
oon and continental acc -unt Later on tba
Qutcok was somewhat improved. and with n
the tenor Of speculation underwent q cbo1ge
for the better. London interests annearsd 2 70
Cake heart from the grangers and other fa :
VoTlte stocks, and there was sh~rt brt
marked increase In the outside partfcipation
AT the same time the market has heen mar
~ a professional one and VS. tneuan.n5
largely by manipulation on the rart Of 1arpa
inter rests Inc situation abroad was the main
saCtoT' Inc decision in the Joint Traffic cas- a
Ialled to produce the same Imnraecion IN
speculation as the trans-MisSourI case did
~ would seem that the market disroea rde
the present adverse decision because the do
cislon mas practically been a dead letter f7r
moItns past, and because it Is expoc+eJ n
VII! lead TO action by congress in regard to
pooling. The continued favorable trafic ra
cisiop. VI 'ne u
More or less favorable reports of trade
conditions contributed to tha huIIiSI focIixo