The Indianapolis journal., 1889-10-19
Dun & co.'s WEEKLY REVIEW.
Effects of Tight tMoney--voiume of Trade Co
tinues to Increase-PrOsperity Noted.

Effects of Tight Money--Volume of Trade Con-
tinues to Inerease-ProsperityN Noted.
NEW YORK, Oct. 1s-R. G. Dun & Co.'s
weekly review of trade says: As before,
the money market is the one point of anX-
iety. Rates are higher but perhaps appre-
hension has somewhat lessened, as the
senseless cry that the pressure was only
manipulated has given place to a more ra-
tional understanding of the reality, and
consequent limitations of the demand. The
country still calls for money largely. but
reports from nearly all interior centers of
supply show that the supply is considered
ample for commercial needs. There is firm
ness and increased demand at Kansas City,
and some stringency at Cleveland, but with
an easier tendency. At Milwaukee the
market is brisk at z per cent. At Philadel-
phia customers are supplied at to Z per
cent.
The volume of trade continues large,
bank clearings exceed last year,
railroad nnd earnings ape encouraging
Chicago are heavy. At Chicago the dry
goods trade for the week falls below that
of the corresponding week last year, and
receipts of wool and lard fall of One-half
but coal receipts are larger. and receipts of
grain and provisions show good increase.
st. Paul rejoices in the movement of Min
nesota's largest crop. and railroad reports
indicate that Northwestern lines are
chOked with the enormous receipts from
farms. Cleveland notes activity in all
lines, with small sales of ore because un-
sold supplies are scarce. There is little
activity in coal at Pittsburg, but glass
works are busy at old prices iron aud steel
works are all busy. with prices well held,
and the coke output at Connellsville is re-
ported in excess of demand by but one
days work each week. The iron trade is
still healthy, Southern furnaces seeming to
have we'll sold up. and though all offer
Si6.5o is reported, the quotation for
pg-iron is S17 to S1S. Bar-iron is not as
firm as other forms, and the surprisingly
heavy demand for plates and structural
forms is for steel rather than iron. Rails
are quoted at S3l5O, with sales for the
week. 81 800 tons. An offer for 5000 tons
American iron, to be shipped to Scotland,
failed because freights were too high. The
ship-yards on the lakes are to be very busy
next season, contracts for thirty YES
sells, with tonnage of 67, 800. being quoted.
| The wool trade is still dull, and. while there
| is fair movement of dress goods and en-
| larged discounts have caused more business
| in knit goods, the demand for mems wool
ems is strictly moderate. The cotton man.
| ufacture is thriving and the trade in goods
| satisfactory, print cloths selling at GIG
| cents for 6fs
Speculation for higher prices in wheat
hasnOt been active since the last govern
ment report, and heavy Northwestern re-
| ceipts, with scant exports, combine to de-
| press prices. which have fallen else for
| the week. with sales of 81 100000 bushels
| against 20,O00.0c0 last week, Friday alone.
Corn has declined l4c and oats Use. while
| pork products. though still sustained by
| the clique, are little lower. Coffee has
| yielded lie, aud is weak at Rio, traders
suspect. on better knowledge of the yield
| than has been forwarded, The coal busi-
| ness is better with cooler weather. but by
| no means satisfactory. Stock at tidewater
has increased 81, 900 tons in September. and
the Reading company has temporarily
stopped nine of its collieries, including two
of the largest. The price of raw
sugar has again declined lsc. and of
refined Ac, and circular announces
the approaching opening of the large
| Spreckels refinery, but the fall in Sugar
| Trust stock has been arrested by an up-
! ward reaction. The stock market resists
| the tight money stubbOrnly, but has yield
| ed an average of 81 per share on active
railroad stocks. with some recovery, how
ever, on Friday. 1t is the theory of some
| prices just before the meeting of legisla-
| lures in granger States would be most un-
| fortunate. But the more generally con-
| trolling influence is q conviction that the
| Western competition threatens mischief
| and is not restrained by the interstate act,
| or by the good sense of managers, while for
the present monetary uncertainties are al
| so felt.
| The business failures during the last
| seven days number for the United States
| 182, and for Canada, forty-one. For the
| corresponding week last year. the figures
| were 202 failures in the United States and
| twenty-twO in Canada.