Omaha daily bee., 1889-10-12
DUN'S REVIEW OF THE WEEK
The Crop Report Very Encouraging,
Gold Shipments Alarming.
A LARGE OUTWARD MOVEMENT.
The Commercial outlook Most Fa-
vorable, But Money Comparatively
Ciose--An Unprecedented
Corn Yield.
Everytbinc All Right But Money.

NEW YORK, Oct, H. special Telegram 10
The BEE. -R. G.. Dun & Co.'s weekly re-
view of trade says the government crop re-
port was very encouraging, but the loss OF
gold by the demands of the great foreign
banks, over 81, 100000 by England, si0oo,oOO
by Germany and "a, 900, 900 by France was
large enough to increase the apprehensions of
monetary pressure. Large shipments went
from London to Brazil and Egypt These
two opposing influences ruled the markets
during the week.
Crops are large and business heavy, and
the commercial outlook most favorable, but
money is comparatively close and there is
possibility that it may be closer yet
AT New York thus far there has
been no increase, but rather a relaxation
of the pressure, and foreign exchange is un-
altered since last week.
The outward movement of products is
large, the exports from New YORK for two
weeks exceeding last years by 16.7 per cent,
while the increase in imports is but 3 per
cent.
Large foreign investments of capital in
American industrial Enterprises are reported
and of late no considerable foreign selling of
securities. But the movement Of money to
the interior cont nues large the treasury
do not ind icate increasing pressure in the in
terror money markets and the demand is
active at all cities reporting. The supply at
nearly all is ample and the anticipated rise in
rates at Chicago has not yet occurred.
The volume of trade IS increasing at nearly
all interior points reporting and this involves
large demand for money.
The bank clearings last week were 212 per
cent larger than last year at New York,
per cent smaller at Boston, Philadelphia and
Chicago. the decrease being largest at Chi
cago, but II per cent larger at all the other
cities taken together. This increase at
points where speculative activity has least
influence indicates greater volume of le-
gitimate business than has ever been re-
corded at this season in any previous year,
and the heavy railroad earnings 10 per cent
above last year for September, tell the same
story. -.,
The great industries are making progress.
Several more furnaces of the largest size
have gone into blast since October |, and the
weekly output on that date was over 100, 700
tons, against 130, 600 tons year ago, an in
crease of Az per cent in September and l513
per cent for the year. In spite of the enor.
nous production prices are not only sustained
by consumption, but are slightly advanced,
though southern iron is still sold here below
SIT for No. |, while Sl7.25 to $3.50 is quoted
for northern. Bar iron is in better demand,
structural and plate works are crowded. and
the sales of rails within ten days have
panies having made their annual contracts
for renewals of track.
The sales of wool at Boston have been
2l5S, 900 pounds and more demand is seen
there, but less at Philadelphia, where con-
cesSions in price are still thought necessary
The government crop report was rather a
surprise to many as it shifted the wheat estl-
mates from IA fraction over II" to 1913 bush
els per acre, making the probable yield not
much below 500, 900 900 bushels. The corn re-
| rort indicates the largest crop ever raised
and the same may be said OF cotton
| with the proper reservation that early frosts
may not greatly reduce the outcome. With
| heavy crops business in all departments will
| be stimulated and at the same time the de-
| maud for money will be increased. Pork
| products are not much changed, coffee and
sugar a little weaker, oil and the minor
| metals substantially unchanged.
. Another indication of the general pros
| perity is seen IN the large sales of boots and
| shoes, though prices were never so low at
| any previous time, and leather, just now
| quoted firm, is as low as at any time in
| thirty-fve years.
The coal trade is disappointing and actual
| prices are much under the schedule, while
wages are said to be 10 per cent
| however, the trade is improving and the
| glass trade is good and factories of all kinds
are better employed than year ago.
In the stock market there was decline
until the 7th, then some recovery and
on Friday another sharp depression
| partly due to continued weakness in trust
| stocks, but more largely to the monetary
J pressure and the more threatening state Of
| the controversies at the west upon rates
| The comparatively slow movement of grain
| at present prices also has an influence. but
| the market for rallroad stocks is so far FREQ
| from public interference, ana in such strong
| hands, that serious depression has not been
| generally apprehended
| The business failures during the last seven
| days number PA, as compared with 206 last
| week and 1872 the week previous to the last
For the corresponding week last year the
figures were 227.