The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-10-26
DUN & CO.'S WEEKLY REVIEW.

The Money Scare AbOut Over-rrade Outlook
Better Than for a Long Time.
NEW YORK, Oct. 25.-R. G. Dun & Co.'s
weekly review of trade says: The money
market has become more easy. with a pros
rect that serious disturbance this season is
no longer to be apprehended. The bankers
are running with narrow reserves, and
artificial stringency may at any time be en-
gineered, but the movement of crops has
been heavy. In the natural course of
events, the return of money to this center
should soon begin. and the possibility of a
foreign drain seems more remote. The
Bank of England gained, last week, 81, 270.-
OOO, and the Bank of France $3.50, 600. gold.
Securities do not appear to be moving
largely either way. while merchandise ex-
ports, for three weeks, show a gain of
IA per cent. over last year,
against a gain of 10 per cent.
in imports. The rate of foreign
exchange has accordingly declined q shade.
There is a little more ~stringency at Omaha,
less at Cleveland. and active demand with
wise the markets West and South all report
supplies adequate for legitimate needs.
Collections are unusually satisfactory at
almost all points, though Milwaukee notes
some hardness, because farmers hold back
products for better prices.
The volume of trade. fair for the season
at all points. is greater than a year ago at
most, though the aggregate of bank clear
ings, outside New York, exceeds last years
by but 2 per cent. Chicago finds a larger
increase, particularly in dry goods, while
sales of clothing and shoes are fair, not
~withstanding mild and dry weather: of
provisions. larger than last years, and
of grain about as large. The wool trade
H. $500 - e
and more active at Boston. where sales were
100000 pounds, but dull at Philadelphia.
Plainly, some manufacturers are taking
hold with more confidence. the market hav-
ing been nearly cleared of some grades of
foreign stock imported under old rulings,
creased. Iron grows stronger, the Thomas
company having advanced its price 81; a
demand from Canada and Mexico is felt,
foreign prices being high. Bar-iron is
and rails are $3.50 to So
the orders already booked for 1880
amounting to 10000 tons or more. Copper is
steady, tin q shade lower here at 207sc, and
lead depressed TO 3.75c by expectation of
large Mexican supplies. The coal trade is
dull. and the weeks meetings have accom-
plIshed nothing beyond fixing upon 3.000,-
eco tons as the output for November. Sales
are generally below the schedule; stove
was selling at $3.50.
Liquidation in wheat continues, with
prices SC lower than a week ago. and sales
OF 65, 000, 600 bushels here. Stubborn facts.
heavy receipts and scanty exports. wear
out the patience of those who ave had
faith in a worlds famine, and State official
those of the department.. Corn
is 3sc higher, with sales of
5.5O0.0O0 bu. Aud the export movement
still exceeds last years. Pork products are
weak. and in hogs the decline has been COO
per 100 lbs. Oil has risen SC, coffee is un-
changed, and sugar is again lower. Cotton
continues downward, receipts exceeding
those Of the same week last year by 10000
bales, and exports by $4,000 bales, and
while there has been q touch Of snow in
Virginia, the dreaded frost in the cotton
States is still deferred. The market for Sc
curities has been weak, in spite OF relief in
the money market and some very favorable