The daily citizen. [volume] (Asheville, N.C.) 1889-1890, 1889-08-31
TRADE REVIEW.
DUN & CO.'S REPORT OF THE:
CONDITION OF BUSINESS,

Business in All Parts of fthe COun-
try Continues to Improve. and
the General Outlook Is Brighter
than for Many Months Past.
New YORK, August 3O.-Thc following
is X. 6. Dun & Cos review of trade for
the week ending Saturday, August 81
Last weeks suggestions i'll regard to
the monetary situation have been entirely
sustained by the events of the past week
Those who held large amounts of Cow
ernmcnt bonds were induced to sell freely
at prices formerly paid by the treasury
which has thus been enabled to pay ont
about twenty millions for bonds, but
these heavy disbursements have scarcely
changed at all the market for commercial
paper here, or Boston, or Philadelphia,
though speculation has been rendered
more active and sharp advance i'll
stocks and wheat has resulted. The Sec
rctary'S belief that bonds to a large
amount could be obtained at prices OF
lered has heen justified; and he has done
what he could under the law to prevent
a monetary pressure. But the money
disburscd seems likely to relieve spccula-
ton rather than commercial needs; at
least, until other operations besides the
one in Government bonds have been
liquidatcd.
Stocks have advanced Just $3.50 per
share in the week and 100000 shares
have been sold already at rising prices.
AS vet the money for bonds has not ac-
tuallv gone out of the Treasury, and its
cash holdings are a little larger than a
week ago, but its deposits i'll bonds arc
half million less.
Business in all parts of the country
continues to improve with the stimulus
of large crops. Chicago reports an i'm
mcnse increase in receipts of grain and
provisions with considerable gain III
the sale of dry goods and clothing. Mil
waukec finds trade improving, and De
troit and St. Paul's previous improve
ment is maintained At Omaha, business
is very good, and though trade at Kan
sas City is rather quiet, the demand for
money is enlarging. At Cleveland and
Pittsburg the iron business is expanding,
and at Philadelphia the Improvement is
noted i'll wool, groceries, iron and steel
and their products, and i'll coal with a
good trade i'll drugs and chemicals and
tobacco. At Boston sales of wool are
larger, reaching 100000 pounds for
the week and t he dry goods trade larger
with prices well maintained. heavy
demand for exports is observed i'll leather,
both sole and splits, and good home
demand, while the boot and shoe tacto-
ries are well employed at last years
prices, and large building operations
make the lumber trade more active
The situation in the iron industry IS
surprisingly encouraging for a weekly
production hardly ever surpassed, and ap-
pears to be met by a wonderful demand,
although the deliveries ofrails continue
below last year. The Tennessee Coal
and Iron Company gives notice OF an ad-
vance of 25 cents i'll its prices for pig IRON,
and the rise i'll the price of coke at Pitts
durg ensures some advance i'll pig iron
there; while bar, plate and structural
iron are in strong demand and the works
better employed than they nave been be
fore for several years. An increase OF
wages is reported at several establish
mcnts, and the building OF several more
furnaces-two by the Carnegie works at
Braddock.
Wool is not yet freely taken by manu-
facturers at current prices, but the de
mand is better on one side, while holders
seem a little more ready on the other to
make the concessions required by the
present state of the dry goods market.
The high price and intcriority OF cotton
embarrasses manufacturers, buta large
new supply is now at hand. -,
The interior money markets are so well
supplied that lack of supply for COM
mcrcial purposes at the chiet eastern
cities is more noticeable. At milwaukee,,
there is more activity and strong de-
mand, and at Chicago the demand is
good; but in generally the supply is ample
at the usual rates. Collections are I'M
proving at Omaha and rather better at
Philadelphia; but at most points the
absence of complaint is noteworthy.
The movement of money through the
treasury to the interior continues, and
would doubtless have caused some
pressure here but for the liberal sales OF
bonds, while the bank of England has
raised its rate of discount thus, evincing
disposition to prevent any outflow OF
gold to this country. Sales of CONNER
cial bills against cotton and other crops
have been large and exports from New
York for the four weeks exceed last years
by nearly % per cent, the increase on
imports being little larger.
1t is an encouraging fact also that the
important failures of recent weeks have
not produced the large crop of minor
disasters by many apprehended. 1t is re
ported that creditors will grant extension
to Wauregan mills and the statement from
Philadelphia is that Lewis Brothers will
nav fifty cents on the dollar; but neither
in number nor in magnitude have tho
failures of this week been unusual.
The volume of trade is still much above
that of last year, and Clearings show q
gain of S12 per cent outside otNew YORK
In speculative markets the general ten
dencv has been toward lower prices
though wheat advanced on eXtravagant
reports of shurtness i'll the European
crops, but the average of prices for al
commodities is about one per cent. lower
than a week ago and even in wheat
after latter sales, indicate Il declining
tendency as in other grain and provis
ions.
The business failures occurring through
out the country during the past sever
days as reported to the X. &. Dunn q
CO., mercantile agency by telegraph
number, for the United States, $50, ant
for Canada %, or total of 211 as com
pared with a total of 206 last week, ant
211 the week previous to last. For th'
corresponding week oflast year the hg
ures were 226, made up of 2O2 failures
in the United States, and twenty-tour IL
the dominion of Canada.
SHELBY's BIG STURGEON.
Monster Fish Caught by am AgeC