The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-12-12
DUN's TRADE REV.. II.
strangency In the Money Market the Only
Cause of Disturbance

Ssringency In the Money Market the Only
Cause of Disturbance.
NEW YORK, Dec. 6.-Stringency in COM
mercial loanR noticed last week as the chief
cause Of present disturbance, is nov almost
the only remaining cause. The influence Of
European troubles has passed. The bank
OF England has reduced its rate to five per
cent. gaining e3,565, 900 gold. for the week,
and the bank of France $i,2OOOO gold.
Exchange has fallen from $4.87 to S4.S4.
anu foreign purchases of American securi-
ties, especially of good bonds, have become
large. The Earrings have met all demands,
drafts on the house in November having
been greater than ever before. Foreign
commerce is heavily in favor of this coun-
Try, while imports at New York for Novem-
Der exceed last year's-which were unusu-
ally liRht-by II per cent The increase in
exports here has been 81 per cent, though
last years were remarkably heavy, SO that
the excess of exports for the month was
probably over $50, 100000. Thus no pressure
or difficulty should now be felt here if for
eign influences only were operative.
In domestic affairs there has been a dis
tinct Improvement in the disposition of
banks and money lenders to give necessary
support to legitimate business, curtailing
speculative advances az far as possible.
This wiser disposition is shown not only
IN much larger issues of clearing house
certiticatesand larger loans here. but in
despatches from many other places. The
harm done by less wise use of resources
IN the past cannot all be removed in a day.
but the movement in that direction is most
beneficial, and has already averted some
serious disasters. 1t is not to be denied
tnat the great volume Of purchases, stimu-
lated by mistaken faith that prices we're to
advance largely after silver expansion, and
again after the new tariff went INTO effect.
has been followed by smaller distribution
than was expected, and thus by need for
extensions or renewals in an unusual num-
Der OF instances. But the volume of trade
is still surprisingly, heavy, and, as
railroad earnings, and the returns
from many. centres of trade, larger
than ever before at this season, With time.
ana a spirit of mutual helpfulness, the legit-
innate business of the country should soon
recover its normal state of health.
very numerous and full reports from
other cities this week show that the cheap
ness OF cotton in the south, and the DELAY
OF winter wheat at the north, have some
what reduced transactions, and caused
more tardiness in collections than hereto
tore, but colder weather and the approach
"a Iilo HOlluRy season already begin to have
a favorable effect at many points. In the
northwest. while conservative feeling ap-
pears, and money is generally in sharp
demand, there is noted greater ease at Gin
cinnatl, and one or two other points, and
AZ Chlcago necessary advances for legiti-
mate business are made to the exclusion
OF long drawn out speculative demands, the
country trade is healthy, and no fears for
the future are expressed.
At Boston there is letter feeling. cold
weather giving more life to the woolen
trade, and sales of wool reaching 2.128. COO
pounds. Few buyers appear for boots and
shoes, but the factories are busy and leather
is moderately lower. Philadelphia reports
some activity in holiday trades. Wool il
extremely dull. The movement of products
az CnlcaRo shows an increase over last year
or one-half in oats, dressed beef and barley.
some increase in lard, cheese and hides.
and decrease of wheat, flour, corn. cnred
meats and wool. In general, the volume of
trade throughout the country is so heavy
that, with the advance of IL per cent. in
prices since year ago. larger supplies Of
money are absorbed.
Ihe business failures occurring thrnuoh-
out the country during the last seven davs.
rs reported to II. G. Dun d Co.. the mar.
camille agency. by telegraph, number. for
the United States, 282, and for Canada
thirty, or total of 312, as compared with
a total of A9 last week, and PA the week
previous to the last. For the corresnnnd-
lug week of last year the figures were a16
representing I'll failures in the TJnitaI
Canada AAAAoA VI |