The critic. (Washington, D.C.) 1890-1891, 1890-12-20
FINANCIAL AND COMMERCIAL.

pcrccptibly less feeling of confidence. Tho
causes appear to be: ~ prospect of inn
portant monetary legislation, the effects
of which are not clearly forcsccn; CO fire.
quent failures and greater difficulties in
making collections, and t'0 less satisfac-
tory conditions in some large branches of
industry. Probably more people are af-
fectcd as to business undertakings, often
lmconsciously, by uncertainty about
financial legislation and its effects than by
any other cause. Though the rate for
money ON call is lower than a week ago,
and money is easier nj Boston and Phila-
dclphia, there is still strlngency at most
POINTS throughout the country. Com
plants of slow collections have rarely
been more general, and IN many casea srt-
Elements can be made only with notes or
renewals. But in all quarters there IL
hope that after January things may inn
prove in this respect, If legislative pros
poets do not meanwhile cause greater
shrinkagc OF credits and curtailmcnt of
purchases.
Foreign influences are not now disturb
ing. Large amounts of gold are arriving,
though exchange has now So advanced rs
to prevent shipments, having risen two
cents this week, and the Bank of England
lost s2,270000 gold without changing its
rate. Exports of products for two weeks
VI i''N'lllltI llblll N'M tOTk SHOW " Hilll
CT \ per cent. over last year, and the total
last December was hardly ever surpassed.
Though imports continue heavy, they are
greatly exceeded by exports ut present,
and in November more than 100000, 900,
although in that month exports of cotton,
brcadstufis, provisions. cattle and oil
showed u decrease of S5,0S3,1 IN, or per
cent. from last year. Exports of cotton
thus far this month exceed last wears,
and ulSn of hr,yi sin,ag lint tbnr, 10 h.u
decrease in grain caused by speculative
prices here. Foreign trading in securities
does not favor this country, partly be-
cause of apprehcnded legislation on the
money question and partly because the
new agreement of Western railroads is
supposed to be incomplete, though excel
lent results are expected If II can he per-
foctcd. Thus the stock market, though u
shade stronger, has been dull and lacks
confidence.
Trade at the South is fair at most points
reporting, considered healthy at New
Orleans with larger cotton receipts, dull
at Memphis, but more confident AT Little
Rock, slightly improved at Montgomery
and coed at Nashville, less confident ut
Jacksonville and at Atlanta accllmula-
lions of cotton are large. Money Is very
close at all points, banks helping cllsto-
mers as far as they can, but collectionsare
not average. Across the Mississippi st.
Louis has colder weather, favoifng all
lines of trade, but at Kansas city holiday
trade is below average, Ut Denver trade is
only fair, at Salt Lake improving some, at
Omaha fair at Minneapolis steady for
lumber and improving. in prices for Hour,
and ut st. Paul confidence is returning.
Collections in thisregion are at most points
fair. At Chicago receipts of wheat and
wool are II third below last years, of hides
larger, and of other products about the
same, sales of merchandise exceed last
years, money is firm but regular business
supplied, and there is confidence in the
immediate future. At Milwaukee and
Detroit trade is good, at Cleveland fair,
| and ut Cincinnati very quiet in wholesale
| lines. Pittsburg reports more confidence
| trade in manufactured iron and in glass
| slower, and Bessemcr blooms lower, banks
| are less apprehensive but cautious.
Eastern cities feel the effect Of expected
| legislation and recent failures, but also of
| present monetary relief. Confidence i'm
| proves at Boston and sales of merchandise;
wholesale dry goods are quiet, but retail
active; wool sells more largely, and also
leather, and boot manufacturers hope for
an advance of 81 or 81 per ease. Though
money is easier at Philadelphia, the note
| worthy feature is the general difficulty of
| collections, especially in iron, paints, oils,
| jewclry, and glass. Trade is fair in all
| these lines, and glass plates are sitter, but
| lower prices are expected in wool, and the
demand for tobacco is light. The anthra-
cite coal traue is demoralized and restric-
| tions of output do not restrict, a general
| breakup of the combination being appre-
hended. Iron shows no improvement at
! Philadelphia or here, and sales are reported
! at Sl6.75 for Northern No. and $3.50 for
| Southern, S27 for rails and Is cents for
bar. The demand for finished products
generally is Stacker, and closing of more
| furnaces is likely to be forced. Copper is
| unsettled, Lake having sold at Is cents,
| but tin is shade stronger at 2O.S5 cents
| and lead at 4.10.
The dry goods trade feels the influence of
| recent failures and of stringency in COM
| mercial loans. Trade in cotton goods is not
! so large as usual, and though print cloths
| are down to 3 cents, the first time for sew
eral years, stocks on hand are 100000
| pieces. Trade in WOODEN dress goods has
been encouraging, and there is no cyl
| knit goods trade has had an exceptional
season, but other WOODEN goods are much
| affected by caution or inability of clothing
| houses and by the failures in that branch.
In the speculative markets the tendency
has generally been downward, though
| wheat is IL cents higher than week ago
in spite of phenomenally small exports
and accommodating stocks. Corn is q cents
lower, pork 70 cents per barrel, hogs a
cents per 100 pounds, and oil q fraction
lower. Cotton and coffee are unchanged
for the week. But it is noteworthy that
the speculative markets are all hesitating
in the feeling that monetary Legislation
may indefinitely alter the situation
Hence largely increased immediate sup
plies Of money, by imports of gold and
| Treasury disbursements, have less effect
than might be expected.
The business failures occurring through
out the country during the last seven
days, as reported to II. q. Dun Il Co, thu
mercantile agency, by telegraph, number
for the United States, 1858, and fol
Canada, Al, or Il total of 40i, as compared
with 374 last week, and 3l2 the week pre-
vious 10 the last. For the corresponding
week of last year the figures were NJ
representing 306 failures in the United
States, and 80 in the Dominion of Canada
Il