Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1890-08-08
DUN's WEEKLY REVIEW.

T.
hension OF Injury to Crops by Drouth.
II. G.. Dun e. Co.'S weekly review of
t;ade says: Heavy exports of gold, ST.
100000, having been engaged for Saturday,
aud the advance of the Bank of England
rate from to 5 per cent. have altered the
monetary outlook for the present. The
merchandise imports are very heavy for
four weeks at New York, having exceeded
last year by % pei cent, or $S, 100000, and
yet the months imports last Year were
about ST. 100000. But exports from New
| York for the four weeks have been 3d.
100000 less than last year, or nearly So
per cent, and the months exports last
year from all ports were but So, 1913, 2l9.
These facts indicate very heavy excess OF
imports for July.
The cotton exports for July have been
about 1900 bales less than last year. and
exports of wheat and flour have OF late
been checked by high prices, but for the
month show gain. Prices of commodi-
ties tend steadily upward, with expectation
of abundant money, and have risen half of
per cent. during the week, and this move
ment, if prolonged, Will tend to cause
| almost all the interior money markets, as
here, the rates have been moderate thus
far aud the supply ample. however. and
the complaints of slow collections, though
little more frequent than of late, are
comparatively rare.
The accounts Of trade are almost uni
formly satisfactory. slight falling off in
some lines is seen at st. Louis, and rain is
badly needed for crops on the region trib-
utary to Milwaukee, but for the m;d-sum-
mer season the state of business is better
than usual. Exchange through all clear
ing houses outside New York show gain
over last year Of ~ per cent. Boston
gains little, but reports improving demand
for leading articles of trade, wool selling
more freely and leather active. Phila-
delphia observes some decrease in drug
business, no change in wool, quiet in chem
icals, liquors and tobacco, but improve
ment in corn. At New Orleans, Savannah
and Memphis business is satisfactory for
the season and crop prospects excellent.
So at Detroit, st. Louis, Kansas City and
Omaha business is good.
Jobbers report a favorable outlook at
st. Paul, the daily output of Minneapolis
flour mills being 10000 barrels and the de-
mand for lumber is strong. But in parts
of the west there is much apprehension,
aud already some depression in business
because of injury to crops by drouth and
extreme heat. The iron business appears
rather more confident, though no
change can be observed in prices. The
wool manufacture changes but little. At
Philadelphia and here no improvement is
seen, and western prices are held too high
for manufacturers. Tho boot and snoe
business shows no weakness, and large
number of buyers at Boston are operat-
ing freely at the recent advance in prices,
both leather and hides being firm and
higher IN price.
Fears Of injury to wheat and corn are
caused by numerous reports from the CEN
trail western states, though estimates of
yield of 10O,000,000 bushels of wheat in the
Dakotas and Minnesota appear we'll sup
ported by detailed railway reports. The
conflicting local accounts and estimates
helped speculation to sharp advance in
wheat and corn, but in both reaction has
since appeared, and wheat closes 81 cents
~o"SA sAAesA q "0oA oSO3 CO4u dOOuG y GENTS
higher and oats unchanged. Heavy west
ern packing caused some weakness in pork
products and the fine crop reports from the
south help to lower cotton shade. Oil il
a little lower and coffee and raw sugar un-
changed.
In general the speculative markets show
the influence of anticipated currency ex-
pansion, but reaction would be natural
If exports of gold at the rate of $4,OOO,OoO
week should continue to overbalance ex.
pected purchases of silver at the rate of
4,5O0,O0O ounces in month. For some
time to come the monetary outlook will
therefore be narrowly watched and &C.
counts of its possible influence upon the
course of prices. The business failures
occurring throughout the country during
the last seven days number 1S9, as COM
pared with 1919 last week. For the CORE
sponding week of last year the figures were
210.