The record-union., 1899-10-28
WARM WEATHER
AFFECTS BUSINESS.
A General Quisting Down in the
Retail Trade,
Owing to Unreasonable Temperature In
Most Parts of the Country.
Prices, However, Show No Appre-
ciabIe Loss of Strength, the
Great Majority of Quotations
Remaining Steady, and Among
Those Making Changes Many
Advances Are Noted.


NEW YORK, Oct 27.-Bradstreet's
tomorrow will say:
A quieting down of distributive trade,
more particularly at retail, is reported
in telegraphed advices to Bradstreet's
this week, growing out of the unsea-
sonably warm weather now being ex-
perienced in most sections of the coun-
try Reflection of this is found in less
urgent orders received by jobbers in
somewhat impaired collections at many
points.
AS regards prices, however, there is
no appreciable loss Of strength, the
great majority of quotations remaining
steady, and among those making
changes advances are still numerous.
That the business condition of the
country remains at an unprecedented
volume is testified to by the heavy
gains noted in bank clearings over a
year ago, and by the immense increases
in railway earnings over exceptionally
good returns last October. AS regards
the current activity in transportation,
it may be said that eastbound traffic
from Chicago in the past month has
more than doubled that reported in the
same period a year ago, and twice as
large as that reported in October, 1892,
| a record period of good trade. The
ocean freight situation is gradually i'm
proving, partly because high rates are
attracting all disengaged tonnage, and
partly because of the check of foreign
buying, particularly of cereals, caused
by the advance in vessel rates, has ex-
ercised a reflex action on the latter
market. simultaneously with the drop
| in freight rates this week has come a
hardening Of quotations for cereals,
partly the result of this improved for
eign buying meeting the late decline
and partly also because foreign
and domestic demand for corn
| has not as yet brought out the flood of
offerings earlier looked for.
Wheat has been sympathetically
strong, as have other cereals, and wheat
-four has been advanced this week.
Coffee is firm, but not much higher On
the week, some speculative reaction
having been quoted.
Among the leading products decreas-
ing in price, tin and copper among the
| metals have been most notable the
! latter claimed to be due to production
approaching more to a parity with de-
mand.
| The situation of cotton goods, one of
aggressive strength, is unquestionably
supporting feature of no small ac-
count. The strength of wool is natural,
| in view of the large sales. In wooden
! goods the demand is favorable, and
| further price advances are predicted
hogs ieo% -
some markets, due to enlarged supplies,
| is again very firm, as are also hides and
! leather, in sympathy with recent ad-
vances in boots and shoes.
| The situation of iron and steel is
| perhaps the most notable one yet pre-
sented. The feature of the market is
| the reported booking by the steel rail
mills of the country of nearly 70 per
cent. of their capacity for next years
| delivery. In all 100000 tons of rails
are reported to have been booked for
delivery next year, and there is, in ad-
dition, considerable finished business on
| 1899 account, which it is claimed will
still further enlarge the volume of bus
mess handled next year. Heavy buying
| of pig iron, to cover some of the rail
/ sales is reported in the central west at
| prices little below those ruling for some
| time past. In all lines of business de-
mand is still very heavy, demand for
steel for cars, or plates for ship
building and for wire being additional
signs of strength.
The demand for hardware is active
at nearly all markets. The scarcity of
supplies noted last week is still a fea-
| ture and jobbers are still pushed for
prompt shipments. Barbed wire, nails
and hand implements tend higher at
some Eastern markets. Complaint that
present high prices are injuring our ex-
port trade is also heard.
Wheat Gncluding fiouD shipments for
| the week aggregate 6,416,196 bushels,
! against 4,160,61S bushels last week,
| 5,560,991 bushels in the corresponding
week of 1898, 1881, ,391 bushels in
| 1897, 3,62S, 600 bushels in 1896 and .
| 1904 bushels in 1895. Since July
1st this season the exports of wheat ag-
gregate SO, 542, ,160 bushels against g.
OH, $50 bushels last year and Is, 2S3, ,694
bushels in 1S97-9S.
/ Business failures for the week are
211, as compared with 221 last week,
219 in this week a year ago. 21S in
\
madam failures for the week number
y, as compared with 20 last week, %
in 1898, % in 1897, 81 in 1896 and 4S
in 1895
NEW YORK, Oct. Pr. G. Dun &
CO. weekly Review of Trade" to-
morrow will say:
/ Fears and not facts made a war in
South Africa seem a menace to prop
erty here, and week of conflict has
cleared away the fear. British
markets for securities have been helped
/ by the belief that mining shares would
be worth more with no Boer control
/ in mining regions.
Large purchases here of ammunition
and meats have swelled the balance
due this country. Money markets have
grown less embarrassing, stocks have
gradually advanced, industries are still
supported by volume of which no
precedent can be found, and payments
| through the principal clearinghouse
for the past week have been 1856 per
cent. larger than last year and 57.3 per