The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1890-08-04
Several Cases Which Tend TO
Alter the Monetary Out
look for the Present.
Much Apprehension in the West Be-
cause Of Injury to Crops
by Drouth.
National Public Debt Statement Tor
the Month Of July---Gen-
eral News.

NEW YoRK, Aug q
n. O.. Dun a Co.'S weekly review OF
trade says: Heavy exports of gold. So
000, 600, having been engaged for Saturday,
and the advance OF the Bank OF England
rate from 4 10 8 per cent. have altered the
monetary outlook for the present. Inc
merchandise imports are very heavy Tor
four weeks al New York, having exceeded
last year by 23 per cent, or -, 800, 900, and
vet the months imports last year were
about 81, 500, 100. Bat exports from New
York for the four weeks have been 81
220, 900 less than last year, or nearly 10
per cent, and the months exports last
year from all ports were but So, ,35Ss s2ls.
These facts indicate a very heavy excess OF
imports for July.
The cotton exports for July have been
about 18, TOO bales less than last rear, and
exports OF wheat and horr have Of late
bean checked by high prices, but for the
month show q 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, vail tend 70 cause
shipm suss of gold instead Of products. AZ
almost oil the interior money markets, as
here, the rates have been moderate thus
far AID, 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. A slight falling on IN
some lines Is seen at SC. Louis, and rain ~
badly needed for crops ON the region tfib-
utary TO Milwaukee, bat for the mid-sum-
mer season che state of business is better
than usual. Exchange through all clear
ing houses outside New York show gain
over last year Of IL per cent. Boston
gains little, but reports improving demand
| for leading articles OF trade, wool selling
more freely aud leather active. Phila-
/ delphia observes SOME decrease ia drug
business, no change In wool, quietin chom-
icals, liquors and tobacco, bus Improve
ment In corn. At New Orleans. hnvannnt
| and Memphis business IN satisfactory fol
the season and crop prospects excellent.
SO nj Detroit, st. Louis, Kansas City and
| Omaha business Is good.
Jobbers report favorable outlook as
| 81. Panl, the daily output of Minneapolis
-four mills being $4,000 barrels and the de-
mand for lumber is strong. But In parts
| OF the west there Is much apprehension,
/ and already some depression Ia business
because of injury TO crops by drouth and
extreme heat The iron business appears
rather more confident, though nc
change can be observed in prices. The
wool manufacture changes but little. Al
Philadslphia and here NO improvement II
seen. and western prices are held too higl
for manufacturers. The boot and sno'
business shows no weakness, and large
number Of buyers nj Boston are eperas
ing freely at the recent advance Ia prices
both leather and hides being firm an'
higher in price.
Fears Of injury 10 wheat and corn ar
caused by numerous reports from the cen
tral western states, though estimates OF
weld of 100, ,00O, 900 bushels of wheat Ia tn
Dakotas aud Minnesota appear well sup
ported by detAiied railway reports. Th
conflicting local accounts and estimate
! helped speculation to sharp advance
, wheat aud corn, but In both reaction ha
, since appeared. and wheat closes ~ cent
, lover than week ago, corn about cent
higher and oats unchanged. Heavy wes'
|, ern packing caused some weakness IN por
. products and the fine crop reports from u
|. south help 10 lover cotton shade. Oh
little iowor and coffee and raw sugar nj
! changed.
In general the speculative markets she
/. the influence Of anticipated currency o.
i pansion, bnt reaction would be natnr
! IL exports of gold ut the rate Of u, ,OOO,O
q week should continue 10 overbalance O.
!. pectad purchases OF silver ut the rate
! 4,500, 900 ounces In month. For son
timo 60 come the monetary outlook W
= therefore be narrowly watched and a
I counts Of its possible influence upon q
: course OF prices. The business faiiur
! occurring throughout the country duril
\ the last seven days number ls9, AZ col
i pared with 100 last week. For the corr
! sponding week OF last year the figures We
a $40.