The age-herald., 1899-10-07
DUN'S WEEKLY
 REVIEW OF TRADE
Demonstration in Honor of Dewey
 Stopped Business.
STEEL STOCKS ARE FIRM
Cotton Mills Have Done We'll, Helped by the Rise in Materials Wheat Declined Sharply, Owing
 to Transvaal Affairs

New York, October CIR. G. Dun x Cos. weekly review of trade will say tomorrow:
 'tThe grand demons tration in honor of Admiral Dewey effectualy stopped business of most kinds for two days at the chief city or the country and yet the remaining trans actions of the week would have excited wonder a year ago. At New York, Where the Interruption was greater. payments through clearing houses exceeded $1, ,O59 0o0,- Voo Ill four business days, a record never before approached, and outside of New iorh the saln reflects a great expansion In the volume of that kind of business which does not depend on exchanges. It has been a week of remarkable monetary changes here and elsewhere The Bank of England raised its rate 1 per cent before and half per cent. more after it's weekly statement from 31s to per cent, with the hope that the outgo to New York might be checked, but the Bank of Germany lost | also and raised it's rate to per cent. and the Bank of France lost heavily.
 While high rates were paid here for money required in speculation, no st,in- gency embarrassed any part of the legiti- mate business and the stock market has held up surprisingly With such business as the great steel companies are doing, it is not strange that their stocks are firmly held There have been heavy sales of rails deliverable next year. sS3 being fixed as the price after consultation, and about 250 900 tons, fairly divided between eastern and western works, were sold. For their pro- lection the great companies bought billets in large quantities for which, it is said, $35 was paid by some and of Bessemer pig nearly 100000 tons the Federal Steel com pany taking 10000 and Pittsburg works taking additional options. Other large rail contracts are expected soon and especially of the Pennsylvania. The plate works seem to be gaining a little on their orders, but both keep apace. But while Bessemer pig rose 25 cents and grey forge at PittsbuTg declined 50 cents, finished products were not changed excepting another rise of 15 cents per keg in cut nails and there is reported some disposition to hold back or ders because of the general rise in prices.
 The wool markets were strong, with sales of 10,5S2 152 pounds at three chief markets, prices being maintained, although the auNdHCe dI lOIluOH ildS peSH CHSGhSu. The cotton mills, after the general advance in prices last week, have had a large busi- ness, helped by the rise in material It seems still uncertain what form of consoli- dation, if any, will be adopted by the Fall River concerns after the advance of about 3 cents.
 Wheat declined sharply, uncertainty in the Transyaal being used by speculators as an excuse for the fluctuation. The closing price is unchanged, with Atlantic exports of 3,562 ,062 bushels, flour included, against 2,SS4 ,533 last year, and Pacific exports of 391 ,052 bushels against 702414 last year. When it is noted that corn exports were also 2,992, ,232 bushels for the week against 2,531 ,O92 bushels last year, the price rising 1 cent, 1t does not seem strange that wheat continues firm, and western receipts have been for the week only 66A,l13 bushels, against 10,539,359 bushels last year. The merchandise exports from New York have been in four weeks $31, ,622 in value, against $32, 74S, ,494 last year, which, with the increase in manufactured exports and in cotton from other points, insures an enor- nous outgo for September. The increase in imports at New York has been about $9, 300 900 in value, apparently not enough to reduce the excess of exports for the month ha1ou, ooo 00o