The daily citizen. [volume] (Asheville, N.C.) 1889-1890, 1889-10-26
TRADE REVIEW.
DUN Il CO.'S REPORT OF THE
CONDITION OF BUSINESS,
Money Market More Easy-COIIec-
tiOns Unusually Satisfactory -
Iron Advanced One DOlIar-Out-
look More Encouraging.

Iron Advanced One DOlIar-Out
look More Encouraging.
NEW YORK, October OR. 6. Dun &
Co.'S review of trade for the week saws:
The money market has become more
easy with prospects that serious dis
turbance this season is no longer to be
apprehended. The banks are running
with narrow reserves, and artificial strin,
gency may at any time be engineered
but the movement of crops has been
heavy. In the natural course of events,
the return Of money to this centre should
soon begin, and the possibility of for
eign drain seems more remote. The bank
of England gained last week 81 27O, 900.
and the bank of France $3.50, 900 in gold.
There is a little more stringency at Om-
aha, less ut Cleveland, and active de-
mand with conservative tone at Chicago.
But otherwise the markets west and
south all report supplies adequate for
legitimate needs.
Philadelphia finds money hard to get
but commercial paper moves at to ~
III fair amount; and at Boston more pa
per is offering at to 3 per cent. and up
wards, with manufacturing loans at
IA to Az per cent.
NOlISNllOllS UNUSUALLY
at almost all points; though Milwau-
kee notes some hardness because farmers
hold back products for better prices.
The volume of trade is fair for the sea-
son at all points. is greater than year
ago at most points, though the aggrc-
gate of bank clearings outside of New
York, exceeds last years but two per
cent.
1rn 1,, E,,,, ,,,,I,
but mackerel and cod are scarce.
Philadelphia rates more actively in
clothing, good trade in liquors. and mod
crate sales OF chemicals at better prices.
The wool trade has been the largest
here for a long time and more active at
Boston, where sales were 100000
pounds, but full at Philadelphia
Iron grows stronger, the Thomas COM
pany having advanced it's price 81. A
demand from Canada and from Mexico
is felt, foreign prices being high
Bar iron is firm, blooms and bilets
feverish, and rails are $31 so to $4,000.
Orders are already booked for 1890
amounting to 100000 tons or more.
Copper is steady, tin a shade lower
here at 20IS, and lead depressed to SO. 75 |
by expectation of large Mexican sup |
plies.
The coal trade is dull and the weeks
meetings have accomplished nothing
beyond fixing upon 100000 tons as
the amount put for November Sales
are generally below schedule, stove at
$3.50
Liquidation in wheat continues with
prices three cents lower than week ago
and the sale of 65, 100000 bushels here,
GtIfhhnr,N Fnpt DT In,,
and Scanty exports, were out of
patience of those who have had faith in
"A worlds fannie, and the State official re-
ports indicate larger yield than those
of the department.
Pork products are weak, and in hogs
the decline has been 60 cents per 100
pounds.
Oil has risen 8 cents, coffee is unchanged
and sugar is again lower 5
Cotton continues down, the receipts i
exceeding those of the same week last I
year by 10000 bales, and exports bv (
10000 bales, and while there has been
touch of snow i'll Virginia the dreaded ,
frost in the cotton States is still deferred. :
The market for securities has been weak :
in spite of the relief in the money market 9
and some very favorable reports regard :
ing particular properties. /
The traffic arrangement between the
Union Pacific and the Chicago and North :
western is thought to foreshadow the
of the so-called Presidents .
association, and the attempt to secure :
more effective consolidation. Earnings i
are 1012 per cent. larger than last years h
from February thus far, but the Pennsvl-
vania's statement for September shows a
very scanty increase and causes disap- $
pointment.
The treasury has done little to help or a
hinder but has increased it's cash holding l.
5000, 900 tor the week. On the whole the d
speculative markets are not promising u
and are iudiciously let alone by the pub p
ic. but the outlook for all parts of legiti- II
nate business is more encouraging than q
t has been for a long time. II
business failures during the past seven u
laws number. for the United States, 1873, "
md for Canada 81. For the correspond
ng week last year the figures were 222 p
alures i'll the United States and 30 the "a
dominion of Canada. &C