Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1890-08-28
THE BUSINESS WORLD.

II. G. Dun & Co.'S Weekly Review Of the
Commercial and Industrial Situation of
tho Country Monetary Disturb-
ance-Many Millions Locked Up on Spec
ulative Account-The Volume of BUSH
Continues rge-Business FAIL
ures, Etc.
New YORK, Aug. 23.-R. G. Dun s
Co. S weekly review of trade says:
The signs of monetary disturbance VIII ich
were noticed in previous reviews were not
misleading. Money loaned on Thursday at
half a cent per day premium. or about 100
per cent. yearly, and most OF the loans We're
at a quarter premium. iney for CONNER
ciaI loans is scarce, and rates high. Though
the Bank of England lowered its rate from
to per cent and European markets were
easier, there was no relief for the Immediate
demand here. Al Philadelphia money was
tight; at Chicago in strong demand; at Lou
isville scarce at to per cent: at New Or
leans tigh tening; at Denver and st. Paul in
good demand; at Milwaukee more active at
per cent firm at Kansas City, and rather
tight at Detroit Mt per cent. The obvious and
only sufficient relief is the liquidation
of money speculations In stocks, in
wheat, corn, oats, cotton, leather. hides,
coffee, wool, and especially in silver bullion,
which have locked up enormous sums In
silver alone about Slo. DOC, 900 has been locked
up to wait higher prices, in grain several
times as much, and in other products
many millions, while the condition of the
market for securities was indicated by the
fall, averaging about So per share in a single
day, on which money became tight TIE
enormous imports to anticipate the passage
of the Tariff bill, have virtually locked up
for an indefinite time many millions paid
for goods and in duties on them. The vol
uine of legitimate business throughout the
country continues large, exceeding that of
last year by 10 per cent. outside New York,
and the desire to market products quickly,
as prices rise causes greater demand for
currency from the country than usual. Not
only have exports been arrested, but I6,0 900
bushels American wheat were re- shipped to
this country from Liverpool and trades
were in progress for more when the
break came Exports of products from New
York for three weeks of August re ~ per
eat. smaller than last year, and the recent
changes do not yet suffice to bring exp1rta-
bic staples down to the parity of foreign
prices The iron industry still shows a
strong demand for finished products, with
some stiHening in prices, but the supply of
pig-iron is still large. The market is dull
and prices little lower, the supply of for
eign goods offered being very large. The de-
mand FOR cotton goods has been fair, but
prices do not change. and the return OF the
material to more natural range of prices
is awaited Capable observers put the
warning that salt is needed in the leather
and hide ket.priceS having risen so far as
to thr en- reaction. Purchases of boots and
shoes at the recent advance continue large.
The reports from other cities, with veey few
exceptions, indicate that a larger trade than
ever before is in progress, with satisfactory
collections and bright outlook. Crop re-
ports are less discouraglng, though the
yield must fall below early antcpations
as to grain. In general. the condition of
legitimate business is encouraging, unless
monetary pressure or labor controversies
Interfere. The threat of great strike on
all Vanderbilt railroads has helped to de-
press stocks and to disturb shipments
The business failures occurring throughout
the country during the past seven days,
number for the United States, liz, Canad a,
90 total 1872; as compared with a total of 1877
last week, and 20s the week previ o us to til
last. For the corresponding week of last
year the figures were DIG