The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1889-08-29
TRADE REVIEW
WEEKLY STATEMENT OF THE CON
DITION OF TRADE THROUGH
OUT THE COUNTRY.
Money Tight at the Financial Centres and
the Prospect Good for the
Fall Traffic.

New YORK, August Or. G. Dun e. Co.
| Weekly Review of trade says the monetary
pressure of which so many warnings have
been given has operated this week to modify
an improvement in the general trade, due
to excellent crop prospects. 1t is quite the
fashion in stock exchange circles to repre-
sent the rise of rates as artificial, and in
! tended to offset the prices of stocks, but the
truth is that speculation of various sorts
has previously withdrawn too much money
from the support of legitimate business and
productive industry, and the tendency of
apprehension as to the future has been to
cut down time loans still further, while
many of the lenders have preferred to place
their money on call, with readily negotiable
collateral.
The treasury meanwhile has been collect
ing its surplus from the people at large, but
discussing it to the holders of bonds and
also to the lenders at the monetary centers
The result has tended for months to cause
faulty distribution of the monetary sup
ply and the suspension of important mills
resulting in greater caution as to loans and
the quick arrest of purchasers of materials
for wool and cotton manufactures. Thus
at Boston the wool market has been COM
pletely unsettled again, sales for the week
amounting to only 100000 pounds, all in
small lots and concessions of to &c would
be necessary in order to move large lots.
The money market is tight and banks
scrutinize closely, because they have little
to spare. The demand for commercial
paper is very light, and four months paper
ranges from 6 to N per cent. The money
markets of interior cities are far better sup
piled at Chicago by liberal receipts from
the country, and at other points because
the demand has yet been only moderate,
but some clGseness is noted at st. Paul,
with slow collections.
From all quarters improvement in bust
ness is reported, with fine prospects for the
fall trade consequent upon large crops.
At Chicago actual transactions are about
equal to last year in clothing, a little larger
in boots and shoes, and Is per cent larger
in dry goods. The grocery trade improves
at most points excepting as to sugar, for
which the demand has been much affected
by the operations of the trust, and raw is
nc lower. Coffee is in better demand and
&c higher, and serious injury to the
western potato crop by the wet
weather has caused a sharp advance.
Butter and eggs are also higher, and cotton
BLOC for spot, notwithing decline of nc
in print cloths. Splendid crop prospects
DeSlH W nave tIlelT leSlllindIo eltCJ upOH
prices of bread stuffs and provisions. Hogs
have declined 20c per 100 pounds; lard, 12c.
and pork, SOC per barrel; oats and corn nc
each, the latter with sales offs, 5000 bushels
and wheat has declined 113c, with sales of
only 100000 bushels.
The prospect for the fall trade is excel
lent, and momentary pressure is not usually
of long duration. The iron and steel bust
ness appears still more encouraging, but
the rapid increase in the supply renders
consumers more confident as to lower
prices. Secretary WINDOWS confidence
that the bonds would be offered freely for
money, appears to have been justified thus
far. Offerings and purchases this
week having been quite liberal but
the treasury nevertheless holds
$4,000, 900 more cash than it held last Sat
urday, and it has been explained that bond
purchasers do not put much money at the
right spot to meet commercial needs. Hap
PLY the foreign trade at present threatens
no decline.
Business failures number 206, as COM
pared with a total of 213 last week and POI
the week previous. For the corresponding
week of last year he figures were 2l4.