The times., 1899-11-04
THE CURRENTS OF TRADE.
a Slight Luu During the Week, With
Prices Firm,

Prices Firm.
NEW YORK, Nov. 3.-Bradstreet's to-
morrow will say:
Despite some variation in the currents
of trade distribution, the aggregate move
ment continues of immense volume; in
fact, if the aggregate of bank cIearings in
the country outside Of the metropolis is a
trustworthy index, as it undoubtedly is, the
country's trade reached its highest mark
in the month of October. Prices certainly
show marked strength in lieu of the pro-
portions of the earlier advances. Cooler
weather has been welcomed by the retail
trade of the country, and some stimulus
has already been noted, alike to distribu-
tion and to the confidence Of dstribu-
tors. In some lines of wholesale trade,
notably dry goods, there has been some
quieting of demand, without, however, any
perceptble effect being exercised upon
values of textiles which, indeed, are more
firmly held than ever. It has, indeed, been
d record period in the wool trade sales
at leading centres having exceeded all
records for the week, and the strength
alike of the raw and the manufactured ma
terial is most marked. Cotton goods are
also very strong, partly on the extraordi-
nary demand, and partly because Of the
strength of the raw material, impaired by
small receipts and growing confidence in
ultimate light yield. The principal cereals
have been rather dull this week with
slight variation in prices and the markets
appear to have come to a standstill pend
ing new developments. Some improvement
is noted in the ocean freight situation, the
high rates having tended to bring their
own cure.
In the iron and steel trade strength of
values is perhaps the most notable fea-
ture but activity has been transferred from
the finished branch of the trade to the mar
ket for pig iron which has been very active
at full prices. Interest in the ore situa-
alton Is unabated, and a heavy advance
on last season is regarded as certain.
Leading ore interests are reported to con-
troll practically the entire lake tonnage for
next year. Reports on re-exports of Amer
lean iron from Japan are confirmed A
heavy business was done in hardware dur
ing October, relatively the best reports
coming from the West. Other metals fail
to show as much strength, copper and
tin being considerably lower on the week,
while lead is measurably firm, owing TO
the working out Of conditions previously
noted, In the lumber market demand
varies with the material and the market
involved but, while pine lumber is Quieter
dt Western centres, prices are very firm
and intimations of a continuance of these
conditions or of further advances are
numerous. An immense cut of logs is
looked for this winter. Influenced by the
activity IN the boot and shoe manufacturing
and distributive trade, Leather is strong
and tends upward and some advances in
hides are also reported.
while showing some increases IN num-
Der and liabilities over the summer and
autumn months business embarrassments
10 ~ Oefohars frrD frh
satisfactory comparisons with correspond
ing months Of other years. There were sic
failures, involving Sc, IA, 600 in liabilities
a decrease of q per cent in number and of
"a per cent in liabilities from October a
year ago.