The times., 1898-11-05

New York. Nov. 4.-Bradstreet's tomor-
row will say:
Further quieting down of new business
in iron and steel. the relapse into dull
ness though at steady prices, or wheat
consequent upon the withdrawal of the
excited foreign demand, and some slight
increase of quiet in general trade, chiefly
at the South as result of the approach
of the elections, are all features calling
for special mention this week.
among the more actively favorable
features are the price steadiness displayed
by most staple articles and the enlarged
distribution of staple goods at many
Western and Southern markets as the re-
suit of improved weather and removals
of quarantines.
"Confirmatory of the quite favorable re-
ports as to general trade during October
are the returns of bank clearings for that
month and the scattered reports as to the
Increased business doing at many centers
in that month as compared with year
ago Export statistics of grain, too. are
beginning to show that an ample basis for
the stories of heavy foreign buying really
existed. exports this week being the
heaviest on record
New business in iron and steel has
been lighter than for weeks past, and
some shading of quotations, particularly
steel, is reported Export trade, however,
is large and increasing. and mills are still
well enough supplied with orders to re-
gard this prediction quiet with some
thing approaching equanimity. lmpor-
tant negotiations touching future prices
of steel rails are now in progress, quota
tions are entirely withdrawn. and some
reports are that an important consolida-
tion or at least control of prices and out
put has been practically agreed upon.
Wheat has been duller, but steady, on
uncertainty as to possible foreign political
complications, offsetting heavy gain In
movement from producers hands. The
current demand and output of flour has
continued to equal and even exceed all
previous records. An encouraging feature
is the demand for domestic woods, largely
at Boston, and much of it at price con-
cessions with rather more reported doing
in cheap makes of worsteds. While lit
tie more is doing in boots and shoes, the
market for hides and leather is still un-
satisfactory and price reductions are a
feature, being most severe, however in
harness leather, from which the stimulus
of war demand has been removed.
Cotton has made another new low rec
ord on heavy crop movement, touching 5
but improved demand for export with the
working of the new print-cloth restric-
tlons have tended to firmness for the
manufactured product.
Business failures in the United States
this week number 1S3, against 219 last
week, 223 in this week a year ago and in
1896 and 260 in 1885,
New York, Nov. 4.-Duns weekly re-
view will say tomorrow:
Not even the election has disturbed
business nor industries on the financial
side this week. Although many are doubt
less waiting for the votes before borrow
ing, the volumes of business through
clearing houses is >s.5 per cent larger than
last year. and 1.5i per cent larger than
in 1892. While political doubts may count
for much, they can only have prevented
a growth of business which might have
been much more than has been realized
Failure returns for October are curiously
puzzling because. while the small failures
compare remarkably well with those of
previous years, and also the failures of
5000 or more in about two-thirds of the
business classes. there were large fail
ures In few branches. not generally due
to present business conditions, which
made the aggregate sl4O00, 900. but neither
the Sawyer woolen failures. nor others,