The DeSmet leader. (DeSmet, Kingsbury Co., Dakota [S.D.]) 1883-1891, 1890-09-13
r 4 nj s.
The Course Of Business.

The two heavy failures OF Sawyer,
Wallace a Co., and r-Lovellhave
given rise TO some vague predictionsof
coming panic, says the Minneapolis
journal, but the condition ofthecoun.
try certainly does not warrant any
such idea. The failures were evidently
the result of speculation. The bust
ness Of the country is exceptionally
good and promising. In all branches
trade is 10 per cent. greater than last
year and commercial credits are IN q
healthful condition generally. Just
now the tension Of fall trade sfelt and
the demand for money is greater Tor
for legitimate business. The banks
are ready to accommodate the latter
while the speculator does not have
easy sailing. Stock spectators are q
little off as borrowers and 1t ls q good
sign to see commercial business taking
precedence of speculative business at
banks. The chicago and local banks
are in strong condition, which cannot
be impaired save by some very tight
squeezing i'm New York.
The demands for money will make
the market firm and somewhat close
through September, perhaps; but the
situation will doubtless be easier IN
October. Then the effects of $2O, 600.
90 pension payments; 81, ,OO0,6O0
interest payment on 1-2 per cent
bonds, and the redemption OF $2O,-
O00, 900 of these bonds, together with
the issue of new silver certificates to
the amount OF nearly $6,000,0 900 will
be felt and add nearly SOC, 600, 600
to the circulation. These disburse-
ments will exercise a stimulating IN
| fuenco and the money will be reafiily
absorbed by the increasingly Navy
commercial movements. Besides, the
probably speedy passage OF the tarin
| bill will compose uncertainty.
The outlook for the wooden trade is
better, Boston sales reaching S,JOO,-
600 pounds and wooden goods having
better sale. The dry goods tradeNs
| much larger than last year; leather is
booming, and manufactured iron 10 in
good demand. Pig iron is still slow
through excessive supply. Copper Is
strong at II cents; tin at "a cents;
lead at $3.50.
Speculative markets are lower.
Wheat has declined about 5 cents dur
ing the past week and the market was
unsteady locally and in all the general
markets. Both grain and provisions
were affected by the Eastern failures,
Sawner, Wallace & Co. having heavy
holdings of grain and pork, whose lib
eration is feared. Corn defined 2 cents;
oats 1-2 cents; pork 25 cents bar,
rel; hogs 90 cents per 100 pounds
Exports were moderate, being 30 pei
cent. lower than last year from New
York. ~
Prices in commodities, other thar
speculative, show slighter secession
and i'm some lines, like leather, they
are higher; but the aggregate drop \
/ and l-2 per cent.
The local bank clearances for The
week ending today, were 81 ,092, 300.
6S, against 81, ,922, ,091. .25, for the cor
responding week last year.
The flour output for the week wal
172 500 barrels, against 161 ,265 bar
rels the previous week; 1S3, $50 bar
rels for the corresponding week in 1850
and 1o2, 100 barrels the same perio,
in 1888. The demand fer flour I
lighter and the market has felt the ei
fects of the break i'm wheat.
Business failures for tho week. 203
against 1S9 last week and 201 tn
, corresponding week of 1880.