OCR Text |
Show WEEKLY FINANCIAL REVIEW. Anxiety Over the Future Cause of Much Hesitation. NEW YORK, Oct. 4. Anxiety over tho future offered opportunity for hesitation and Interruption in the financial world. This feeling had to do with tho prospect of finance abroad a3 well as at home. The outlook at home, in fact, la now more than usually dependent upon I money-market conditions elsewhere. Tho action of the International exchanges ex-changes In response to tho udvance In the Bank of England discount rato gave notico that no relief was to bo looked for In New York, in the immediate future at least, by resort to London gold supplies. The effect Is especially marked on plans for enlisting now capital. Banking authorities au-thorities express satisfaction over the conduct of tho banks In the last fow months In having strictly limited the extension ex-tension of credits, a course- which leaves them In much hotter poslUon to meet the coming requirements than seemed possible possi-ble six months ago. In relations with foreign markets the United States Is fortified by the favorable trade balance growing out of heavy exports ex-ports of grain and manufactures. Also the holdings of American securities in the hands of foreigners have been reduced re-duced by a lengthy process of liquidation. liquida-tion. This gives assurance against tho force of a possible shock from financial troubles abroad. Tho failure of money conditions to relax In London, Berlin and Paris aftor the October settlements was a disappointment and the occasion of un-eaelneSB. un-eaelneSB. The trade reaction, such as seems to have set in in Germany, carried car-ried with It the danger of uncovering weak spots. This reaction threatened, also, a dumping dump-ing of products Into foreign markets. This is takon Into account in estimating tho effects of the new tariff law. It, was a factor In the weakness of United States Stoel. The home market for steel products remains unsettled, buyers still holding oft for concessions in price. In pig Iron curtailment cur-tailment of production, rather than growth of demand, Is tho factor In hardening hard-ening prices. In coppor, also, depletion of stocks Is affected by the reduction of output In connection with labor troubles In tho Lake Superior region. ' August reports of net earnings of railroads rail-roads made so poor a comparison with last year's results as to dlscourago shareholders share-holders and all those looking for Increased In-creased buying of materials by the railroads. rail-roads. Coffee Futures Steady. NEW YORK, Oct. 4. Tho somewhat unsettled showing of the Brazilian markets mar-kets and week-end realizing caused somo Irregularity In coffee futures today. After opening at an advance of five points to a decline of four points, prices became very firm. Tho close was steady at a net advance ad-vance of olevon to twenty points. October. Octo-ber. 9.9Sc ; December, 10.23c; January, 10.33c; March, 10.54c; May. 10.75c; July. 10.89c; September, 10.97c. Spot, firm; Rio No. 7. 10Bc; Santos No. 4, 12Jc; mild, steady; Cordova, 16ic New York Produce. NEW YORK, Oct. 4. Flour, qulot. Wheat, spot, Irregular; No. 2 red, 96c; No. 1 northern Duluth. 944S91Jc; Docem-ber, Docem-ber, 95 l-16c: May, OGJc. Hops, steady. Hides, firm. Petroleum, steady. Wool, qulot London Wool Sales. LONDON, Oct. 4. There was a brisk demand for tho 11,847 bales offered at tho wool auction today. During the. remaining remain-ing days of tho sale 32,000 bales will be offered. Evaporatod Fruits. NEW YORK. Oct. 4. Evaporated apples, ap-ples, qulot and steady. Apricots, steady. Peaches, steady. Raisins, steady. |