Cause Of The Rise In Wheat

New York, Oct. 34.- R. G. Dun & Co. 's eekly review of trade says: Tho event pt the week has been the sensational admnce of wheat to 83 cents for cash on Tuesday, a rise of h)4 cents, and its fall to 77 on Thursday, gaining 1% on Friday. The rise was magnifled by covering of pecufcitive sellers who imagined the advanee had gone too far, but was at the bottoiu based on the extraordinary foreign demand which has engaged grain vessels from all Pacific as well as Atlantic ports for mouths ahead. How great the shortage in ordinary European supplies may be is the point of doubt and speoulation. But none now question that shipmentg from the Pacido coast to India and the decreuse in the Russiiin yield are important, and the bnying of enormous quantitiesfor export, with engagemeuts of freight room j at higher ra tes, express the belief of Euro: pean dealers. The most strikiug feature of industrial returns is the number of coutracts conditioned upon the election. These already are euough to make business rather lively for a time, and many others a-e pending which will probably be held back until Nov. 1. The buying of materials not only ad vances prices but induces larger purchases of the finisheil products without conditions. All markets are strong for pig iron, but not for flnished products. But the tone of the market is better, and a decided increase of orders appears in plates, about 3,000 tons for building vessels on the lakes and in structural work at the west, owing to contracts taken at Chicago for buildings at Boston, Toronto, Detroit and Minneapoüs. Failures for the week have been 274 in the United States against 31 last year, and (30 in Canada against 38 last year.