Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1889-11-02
INLAND COMMERCE.
r. G. Dun & Co.'s Weekly Re.
view Of Trade.
MONEY MARKET GROWING TIGHT

The Cause Attributed to the Heavy De-
mand from the Interior On Account OF
Business Activity-Higher Prices Re-
ported Throughout the Country and |
Trafic UnusuaIIy Good-Liberal Trading |
In Trust Stock, with Little Doing in |
Railroad securitiss-Failures for the
Week. |
New YORK, Nov. Ar g. Dun & Coz
weekly review Of trade says: Money |
has been working closer during the past
week, falling to 4 per cent last Saturday,
but then rising steadily to per cent, even
more being paid in some cases 1t does not
appear that the change has any other cause
than the demand from the interior, which
continues later this year than usual, and on
account OF great business activity is I'M
usually large. The foreign situation has not
essentially changed. There is scarcely any
evidence of important movement of securi-
ties either way, but the sale Of Minneapolis
-four mills and northwestern elevators to
an English syndicate for So, $50, 600 is q
sample Of many industrial operations in pro-
gress which in the aggregate bring vast
amount of foreign capital into the country.
Big increase In Exports.
The exports for four weeks at New York
have exceeded last years by Is per cent,
but an enormous increase in cotton exports
does not there appear; the increase in i'm
ports has been about SIS per cent for the
month The volume of business continues
very large, though signs of a reaction begin
to appear at some of the larger centers OF
distribution. Thus the gain of o. per cent
in avch,ngas at Nav Vnrk laS waak
due to stock operations, and the clearings at
Boston fell below last years gains, and at
Boston, Philadelphia and Chicago together
the increase was but z. 4 per cent, but at all
other points together it was over 10 per cent
Prices are stiffening, though the general
level has advanced scarcely a quarter Of
per cent in two weeks In the speculative
markets there has been more activity and,
except in pork products and coffee, an ad-
vance. These changes call for more money
in the movement of products Building op-
erations are also unusually active at many
cities. While the treasury has paid out
about 81, 100000 more than has taken in
last week, the supply at interior markets
does not seem satisfactory. The root
OF the matter seems to be that expanding
legitimate business requires money which is
still absorbed in various speculations
Liquidation in trust stocks con tinues, par
ticulsrly in cotton oil, which has been heav.
lily sold at a severe decline. But railroad
stocks have been very stubbornly held, and
average in price almost exactly as they did
week ago. Arrangements between the Chi
cago and Northwestern and the Union Pa
cific, and a rumored sale of the Chicago and
Alton, look toward consultations OF great
systems, and in the end projected ailway
trust OF gigantic proportions, but meanwhile
popular disfavor may lead to interruption
by congress or state legislatures. For the
present at all events, the visib bic tendency
toward consolidation encourages holders OF
securities, and the traffic in progress is large
and profitable Speculation IN breadstuffs
has advanced wheat - AMI corn ~ cents
on sales Of - 90, 600 and 10, 100000 bushels,
respectively, but exports do not increase
Oil has advanced SIS cents, oats y and
cotton IS notwithstanding port receipts
cont nus larger than last years, both receipts
and exports showing gains of 1900 bales
for the week Coal has been stiffeusd by
cooler weather, but still sells about ~ cents
below circular prices Iron and steel in all
forms are in great demand and firmly held
| with a shade Of advance in bar iron and
nails, Int the feeling is expressed that the
improvement has bsen too rapid to be main
tanned, and some reaction is deemed pos
sible.
| All Markets Unusually Active.
The accounts from other cities are unusu-
ally encouraging. Boston inls wool more
active, though at unsatisfactory pric es
| leather steady, with a free movem mt in
| sole and the boot and shoe trade satisfac-
tory; a large trade IN lumber, especially
spruce, and in all building materials. Phila-
delphia notes great activity in iron
and STEEL good trade but slow
collections in groceries, hating
| 10 the wool market and scarcity of cars for
coal Chicago reports money becoming
tighter, because of country demands, but
no spprehensions regarding the Immediate
future for an active hsds in dry goods
wool and hides, but duliness in clothing anc
boots and shoes. At Pittsburg window glass
has been advanced 10 per cent, and a rise il
coal is expected; iron products are firm A
all points trade is full aud active for the sea
son, with scarcely an exception, though Nil
| waukee notes unfavora BILE weather and eau
ton IN credits, and Cleveland some strin
gency in money, though collections are good
AT Detroit the shipysris have good con
tracts, and manufacturing works are full
employed. In general, the outlook continue
good, though at some points the monetar
situation is for the time not entirely satii
factory.
cuisines. Failures for the Week.
The business failures for the last seve
days number for the United States 22s, an
for Canada 81 or a total OF pol failures q
compared with total of 225 last week, an
22S the week previous TO the last For tn
corresponding week last year the figur
were 275. representing PAS in the Unite
States, and 81 in Canada