The daily citizen. [volume] (Asheville, N.C.) 1889-1890, 1889-09-14
TRADE REVIEW.
DUN & CO.'S REPORT OF THE
CONDITION OF BUSINESS,
A Monetary Crisis Anticipated
Exports of Products RemarI<a-
bly, I.ar&e-The Imports of Mer-
c1lanCIise Very Heavy, Etc.

n monetary NrkSIS AUSlSlphtGu-
Exports of Products RemarI<a-
bly, Large-The Imports of Mer-
chamdise Very Heavy, Etc.
New YORK, September 13.-R. G. Dun
& Cos review of trade for the week says;
Scarcely week has passed since the gov
crnment purchases of bonds and heavy
movements made the street certain that
there could be no monetary pressure this
1al. Now the people are talking again
about possible exports ofgold. The for
cign exchange is higher, and rates tor
money advance, the best commercial
double named paper selling at five to six
per cent, and prime single named at SIX
to seven per cent. Over $2O,OOO,OOO
have been absorbed, OF which none has
gone abroad, and scarcely any to the
West and South; and the question is
.gain lust what it was some weeks ago,
will the treasury be able to get bonds
enough to prevcnra Il monetary pressure -
Then there was known to be more than
500, 900, 900 locked up in bonds held OH
speculation, that resource has gone but
additional money has been absorbed by
speculation in stocks. AS was said be-
fore, it is to be said now, there is money
enough for all legitimate business, when
speculation does not absorb it. Heavy
sales of stocks on foreign account have
caused little reaction and raggedness,
but the general average OF prices is still
nearly halt dollar per share higher than
Il week ago. The wars of the railways
do not cease. but on the contrary are
increasing i'll number and Importance.
,,l.,,I Il
large for the season, for two weeks forty
per cent. above last years; but the inn
ports ofmcrchandise are also very heavy,
and unrecorlCd imports OF securities re-
turned from abroad tend to turn the
scale.
At every western and southern centre
money is i'll fair supply, with demand
Henerallygood
The violent storm has disturbed busi-
ness not little along the sea coast, and
affected purchases for the interior; but
in all other respects the week has been
one of satisfactory business.
Nearly all interior cities report trade
us active or improving, and clcarlngS
through all the banks outside OF New
York still exceed last years by thirty
seven per cent. Though the government
crop report was thought slightly unlav
orable, other accounts all concur i'll very
satisfactory views, and the course OF
trade at interior points manifests the
confidence of local dealers.
Trade in cottonS has been fair, though
much affected by the storm; while the
market for woolens is inactive, as it has
been for several weeks.
The weekly output of iron furnaces in
blast September l was 144,0GS tons,
against l45, 800 August /, and 125,S66
Il year ago. In spite OF an increase OF
14l4 per cent. in production for the year,
the tone of the market is strong for the
best well known grades, but, while such
iron sells at SIS for No. /, new makers
are selling other iron claimed to be
equally as good at $17; and the failure
to sell No. 2 Southern at $15 is noticed.
Rails do not rise; 10000 tons were sold
during the week at sos.
The American copper syndicate appears
to have collapsed, and Lake is quoted at
S1O.25 for September Secret sales here
by Rothchhilds are rumored.
The London strike, preventing ship
mcnts, permitted a corner in tin here;
but the price has reacted to 212 cents,
while lead is strong at four cents.
Coal is dull. Orders from consiGnors
are still anxiously awaited, and the
threat Of higher prices, like the old cry of
"woli," has lost its power
The wool market is nominally firm,
but, if manufacturers refuse to buy, the
expected lower prices will come.
The grocery trade has been much at-
fcctcd by the weather, and sugar is also
weakened by the conviction that a fall
impends. Brcadstutfs have been COM
paratively inactive; wheat is half cent
higher with sales for the week of only
10000, 900 bushels, and corn quarter
lower with sales of 6,5O0,O0O bushels.
Coffee has advanced anoth her half cent,
and oil two cents; but hogs and lard arc
lower. On the whole, speculation i'll
products is making unusually little dis
turbance this year, and the large crops
are, therefore, all the more likely to go
into consumption promptly, and atmod-
crate prices.
Business failures during the last week
number for the United States, 10; Can
ada, %. For the corresponding week of
last year the figures were 100 i'll the
United States, and 81 in Canada.