Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1890-09-19
DUN's WEEKLY REVIEW
THE MARKETS TIGHT ON HIGH
RATES PAID FOR MONEY
An Unfavorablc Crop Report Causes Higher
Prices for Staples-A Not Advance During
tho Week of Cents on Wheat Sales
Collections Reported Satisfactory,


Prices for staples-A Not Advance During
tho Week of Cents on Wheat Sales
Collections Reported Satisfac :orv.
NEW York. Sept. 13.-R. G. Dun & Co.'S
H'cellU Rcric,c Of Trade says: The past week
has fully justified those who gave warning
that the monetary ease, caused by treasury
disbursements, could be but temporary.
The market here has been tight with ex-
treme rates paid in some cases. At Boston
and Philadelphia the monetary pressure also
affects business; at Chicago the market is
somewhat firmer and the demand active: mt
st. Louis it is stiff at to s per cent; at
Kansas City more firm; at Omaha a trife
close. but firmly supplied; at Milwaukee.
very active and to some cxtentdisturbcd by
a large lumber failure in the interiors at
Detroit the demand is strong at per cent;
at Cleveland the tightness is rigidlv as
cribed to the volume Of business; at Pitts
burg the demand is fair at to per cent;
and only at New Orleans, of all the cities
reporting, is the market easier.
The immediate fright at New York was
about the supposed enormous demands for
payment Of duties if the new tariff should
go into effect Oct. L. The fact, as officially
reported. is that less than $1,000 900 will
on which the rates have been increased,
but no one supposes that the entire
quantity would be taken out and
meanwhile the treasury is now offering to
pay out s2o,O0O,00o for 1-2 per cents and
$4,000, 900 more in prepayment Of interest
on the 1-2 per cents. If there were no
speculative tendency interfering with free
government Or crops, commercial bills would
soon ORA ~ YOnav from ahrnad nm
favorable crop report causes higher prices
for staples, and prior to that the exports
had been very light, prices being too high
for foreign markets.
Breadstuffs had not been strong until
Thursday, the latest information as to yield
being generally more favorable. But the
government report as to the condition
Sept. enabled spectators to produce q
''bear panic" and the net advance for the
week has been 4 cents in wheat on sales of
10000 bushels, cents in corn on sales of
10000 bushels and cents in oats. Lard
and hogs were also stronger and the report
that cotton was in condition a shade lower
than last year caused a rise of a sixteenth,
with sales of 100000 bales for the week.
Other products have not changed much in
price, though oil is 2 ga cents lower.
The reports from other cities indicate no
slackening of activity on account of mon
etary difficulty at any point west or south
of Philadelphia. The reports as to COL
lections are almost uniformly satisfactory.
The crops are moving fast, prices encourage
ing farmers. but do not forward to consume
ers as rapidly. Distribution of merchan-
disc in nearly all lines continue much in
excess of last year at every point reporting
and at Philadelphia and Boston the
leather and boot and shoe trades are
exceptionally good; at Boston the pool
is much more active and at Chicago
there is a steady increase over last year in
the movement OF dry goods, clothing and
meats. St. Louis reports strong trade in
nearly all lines and from other points the
| accounts are of similar tenor. The great
Industries are doing we'll. The weekly OUT
| put OF iron rises again to 171,776 tons
against 164,79S Aug. 1, and 134,06S a yoar
] ago. The market for Pig es-'----1s weaker,
though lS.o.aya change in prices
| is seen. The bar, plate, structural,
sheet and wrought pipe mills are all
crowded with work at full and occasionally
| advancing prices. Greater activity in the
wooden manufacture is shown by the rapid
rise in sales and the speedy passage Of the
| tariff bill is anticipated as a basis for larger
operations. The activity in dry goods is
| everywhere increased, while the demand is
large and general The coal trade has
done nothing to speak Of and the demand
here is below expectations. The minor
metals are stronger, though for copper the
present demand is light. In short, there is
every reason for a large and prosperous
business, if the pressure in money markets
is met and that pressure tends to cure itself
quickly by depressing speculation.
The business failures occurring through
out the country during the last seven days
number 1913, as compared with 204 last week
and $50 the week previous to the last. For
the corresponding week of last year the fig