The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1889-10-10
TRADE REVIEW.
WEEKLY RESUME OF THE CONDITION
OF BUSINESS AND TRADE OVER
THE COUNTRY.
Effect Of the Close Money Market Failures
for the Quarter, and What They
show-Liabilities Increased.

NEW YORK, October Ar. G.. Dunn a.
Cos. weekly review says the close money
market as was anticipated last week, has
checked operations to some extent. Ship
ment of $1.0O0.000 in gold to Europe by a
firm engaged in placing two large loans for
foreign government and therefore an ex-
cuse to prevent further advance In bank
OF England notes was all clear evidence OF
the actual demand abroad, caused trade
at small loss if rendered at the current
rate Of exchange The sudden fall in the
rate from $4.8S to $4.80N was
followed by an upward movement again.
and 1t seems not improbable that the ex-
igencies of the Argentine Republic and the
placing of the Russia loan may for some
time to come affect the money market here.
October disbursements and moderate
purchases of bonds have made the market
easier for the present, but the rate on call
after rising from 5X TO per cent and even
to 30 per cent for short time, is yet about 7
mercial loan market.
Reports of business from all parts Of the
country show increased activity on the
whole, though in some branches trade Is
not up TO the September level
Chicago finds business larger than d year
ago, with heavy country orders, showing a
large demand and an easy financial condi-
ton throughout the west
The years receipts of cereals fall oft
little, but OF provisions are nearly doubled.
Inc iron business Is In some danger OF
running into an unhealthy "boomb So
great is the anxiety of many to stimulate
the demand several large furnaces are
ah0ut Oninn ipfn tb. l. 80
No. is still sold here at $i8.75, but higher
prices than $18 are paid for desired brands.
which are scarce, and structural plate and
wrought pipe are strong but of bar there il
not. Prices are nevertheless a shade higher
than October l, and have advanced TX per
cent since September-a result due rather
TO the partial failure of some crops than 10
the increase of the monetary supply. The
volume OF money in circulation is$i53, OOO.-
wv larger than September and the increase
IN three months has been 1886, 900, 600. but
the aggregate is scarcely larger now than II
was last December.
Bushes. failures in the United States for
dhs q quarter ending with September were
Z,ZI6, showing decrease of So. or 81 per
cent. Tor last year, but for months the
number has been 1879, showing an in
crease OF 329, or 4 per cent. Liabilities for
the past quarter have been swelled bv a
few large failures to $780, 227.O46, or 40 per
cehts nhoIe ulan 1Or the same quarter last
year, but for the months the aggregate
mas been $lO5, O55,S $3.50, or an increase f16K
per cent.
The failures in Canada show decrease
OF per cent in number and 40 pc cent in
liabilities for the past quarter For the
nine months there have been only three
less than last year in number, but 10 per
cent less In liabilities. For the past week
the failures reported number 172 for the
United States and "a in Canada, against
l92 last week and 221 for the corresponding
week last year; 1S4 in the United States
and 81 in Canada.