The record-union., 1898-11-19
Several Substantial Developments Presented
During the Week.
A Number Of Advances in Prices,
Exceptionally Few Declines, a
Growing Strength in Pig-Iron,
Unprecedentedly Large Bank
C1earings and Remarkably Good
Reports as to Export Trade.

NEW YORK. Nov. s. = Brad
streets" tomorrow will say:
Evidence accumulates that the good
results flowing from the recent cleo
tions are no longer consigned entirely
to improvement in tone and confidence,
though the active feeling influences
dealings in both financial and mercan-
tile lines. Several substantial develop
ments present themselves this week,
notable among which are a number of
advances in prices, exceptionally few
declines thereof, growing strength in
the pig-iron, unprecedently large week
bank clearingS and remarkably good
reports as to export trade, not only in
the line of foreign products, but in
enlarged trade in manufactured pro-
ducts Distribution of merchandise
shows but little change from recently
preceding weeks, but the growth in
consequence is reflected in very general
reports of improved collections on past
business.
First and foremost in the line of for
eign trade extension are the returns
recently made for October, pointing to
exports for that month larger than
in the corresponding month of any pre-
ceding year, second only to those of
December last year, and chargeable
not SO much as formerly to enlarged
exp9rts of farm products, but to heavi-
ly increased exports of finished pro-
ducts of American industry. In this
connection especially good reports come
from the iron and steel industry, which
has thereby been rendered more inde-
f1ar.
tions in domestic demand.
The strength in values of all cereals
all the leading breadstuffs are higher
this WEEKS of course due to the con-
stant foreign demand, more than eff
fecting very large gains in domestic
supplies, which, however, are below
any corresponding period for years
past. Comparisons of four months
exports, July to October, inclusive,
point to wheat and flour shipments lit
tie below those of last year, and only
10 per cent. below those of 1891, the
heaviest ever known. The strength of
cereals finds imitators in coffee, where
statistical position shows some i'm
provement; sugar, which is relatively
higher for refined, on growing strength
of raw supplies; coffee, which retains
its old bullish tone, and even cotton,
which is higher on small movement
and improving tone of the goods mar
ket.
Wool sales continue of good volume
on more confident buying of small
manufacturers, who, however. report
the finished goods trade unsatisfactory.
Heavy sales of bonded wool for re-ex-
port to England are reported this week.
Rather more inquiry is noted for pig
iron, and the tone of prices is strong
IN contrast to that of steel. which is
being shaded by those eager to book
new business. The steel rail situation
is apparently unchanged, and much
business is held awaiting settlement of
prices and other details.
Wheat Gncluding four) SHIPMENTS
for the week aggregate 5,679, 141 BUSH
els, against 3,674, 693 bushels last week.
6,653,792 bushels in the corresponding
week of 1897, 3,937, ,233 bushels in 1896
2916,S3S bushels in 1895, and 3.312 673
bushels in 1894. Since July 1st this
year the exports of wheat aggregate
S2,oS9,457 bushels, against 95,973. 1926
bushels last year.
Business failures in the United States
235 in this week year ago. 3OS in
1896, 323 in 1895, and 295 in 1894. Fail
ures in the Dominion of Canada %
against 30 in the preceding week: 81
in 1897, AZ in 1896 AZ in 1895, and "a
in 1894
NEW YORK, Nov. 1S.-R. G. Dun e.
Co.'S Weekly Review of Trade, to-
morrow will say:
The situation is clearer, and the i'm
provement in business which was ex-
pected after the election has heeun
Payments through clearing houses are
far the largest ever known for the
week, 37.3 per cent. larger than last
year, and 33 per cent. larger than In
1892. The glass workers have re-
sumed, the anthracite coal output is
heavy and much beyond the present
capacity of markets. the troubles in
Illinois coal mines have been settled.
and the new strike of shoe workers in
Marlboro, Mass, is now the only labor
hindranceN of consequence
1t is noteworthy that in spite of all
changes. the price of spot wheat has
but slightly changed The exports for
the week (fiour included) have been
1868, 76S bushels from Atlantic ports.
against $685., ,344 last year. and
from Pacific ports 9SS,094, against
2, 191, ,444 last year, making in
all for two weeks of November 9.312.-
331 bushels, against 9,939,8 last year.
Such returns leave wide room for con-
lecture as TO the influences governing
the price. but with 10337.311 bushels
received at Western points during the
week, and in two weeks 20. .261 1856
bushels, against Is. .22S, ,167 last year. it
can no longer be said that Western
supplies threaten to run short
The woolen manufactures has gained
in orders for the coming season. which
justifies the heavy buying of materials
recently seen, and there are also better
orders for speedy delivery, but the de-
mand is not large, and much machin-
cry is still waiting idly.
While sales of wool at the three chief
markets We're heavy, %, 234, 800 pounds
in three weeks, against 20S65, ,9O2 last
year and 17,103,1 100 in 1892, they in
clude two large sales for export, cover
ing 100000 pounds of Montevideo
and Australian wool at JIG and IS cents.
respectively, which make clearer the
fact that prices asked by holders here
are relatively high. Some concessions