Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1890-11-28
DUN's WEEKLY REVIEW.
Legitimate Business Hardly Affected by
the Recent FURRY in Stocks The Volume
of Trade Sill Ahead of Previous Years.

NEW YORK, Nov. 22.-R. g. Dun & Co. s
Weekly Review Of trade says: The marvel
to-day Is that the business world has been
able to stand with SO little disturbance thus
rars Such shock and strain as the past two
weeks have brought, with the assets of the
largest commercial banking house in Great
Britain turned over to the Bank of Eng
land, with several stock failures here and
one at Philadelphia and some savings
banks beseiged by ignorant depositors
In panic. the legitimate business of the
country has hardly been affected at all as
yet. The stringency has affected some buy
Ing, the difficulty of making foreign ex-
change threatens to retard the movement
OF cotton, and a more conservative temper
is seen in trading, but everything thus far
indicates sounder condition OF legitimate
business than many supposed. The collapse
OF many great speculations has brought
heavy losses, but the public has not been TAX
Ing much part in such operations 1t may
be hoped that the financial institutions,
forced at last to drop speculatiOns which alb
sorbed enormous capital, will have become
more available after the storm has passed
Tor the use of industry and commerce.
British losses by the shrinkage in South
American stocks. nitrates, cedulas and
South African securities are estimated at
$439, O0O.0 900; the depression in American
stocks since last spring has involved a loss
of more than $500, 100000, and in wheat and
other products losses have been heavy; but
the number of failures up to this time has
been smaller than was apprehended. While
the money markets are generally tight
there is still no unusual complaint as to
| collections, though renewals and redis-
counts have been large.
The volume Of business continues to ex-
coed that of any previous year at all clear
ing houses outside Of New York about 1917
per cent for the month thus far. Exports
have been checked at New York, falling 0
per cent. below last years for the month.
but the imports here in half of November
exceed last years by 90 per cent. Prices
are yielding, which will help exports of
products. Wheat has fallen cents during
the week, corn about 2 cents and oats "a
cents. Sales of $4,000, 900 bushels of wheat
here indicate large liquidation. Cotton has
fallen q cent, coffee q II cent, oil AZ cents,
pork IS cents per barrel and hogs 80 cents
per 100 pounds. Sugar is also "a cent lower,
tin is demoralized. lead weaker, and no
takers are reported for copper at 1857 cents.
The general average of prices has fallen ~
per cat this month, but is still about per
cent above that OF the same date last year.
Yet neither the shrinkage in prices nor
the stringency in the money market can be
attributed to the operations of the treas
ury, which has put out during the week
81, 300. 900 more of the new silver notes while
taking in only 100000 of other forms of
money. The volume Of currency in circu-
lation outside the treasury is now over
s1,500 00o, 900 against 81, AIS, OOD, 900 year
q lint hor foxy ;r
at which more or less stringency is not re-
ported. Baltimore, Pittsburg and Calves
ton are exceptions, being we'll supplied; but
Chicago and most other points, while the
demand is sharp, no trouble is reported
Reports of trade from other states are en-
couraging. The south is moving the larg-
est crop of cotton ever grown, and while ex-
change causes some embarrassment, the
movement is rapid. Sugar comes in largely
at good prices, and the receipts of molasses
at New Orleans are liberal at some decline,
with moderate receipts of rice. Trade is
healthy at Mernphts. Louisville. Atlanta
and Galveston, although in Texas lower
prices cause some country failures. Balti-
more notes no disturbance because of east
ern trouble, and at ST. Louis trade in all
lines is good with bright prospects. Trade
at Denver and Kansas City is fair; at St.
Paul, active, though money pressure
is felt; at Milwaukee and Detroit,
good, except that mild weather
checks retail trade and the same cause ef-
fects the shoe trade at Cleveland; Cincin-
natl reports manufacturers busy, dry goods
fairly active, and the carriage trade closing
very profitable season; Pittsburs notes
fair business at the mills no change in irou
or steel, and good trade in glass. OF the
great centers Chicago fares the best, feel
ing eastern troubles little. The movement
of wheat and corn is slightly less than for
the same week last year; cured meats, lard,
butter and cheese larger, and oats nearly
double, but in dressed beef and hides there
is heavy decline. The dry goods trade
equals last year and the trade in clothing
and shoes is ending q profitable season.
Even at Boston and Philadelphia the
great failures are felt less in commercial
circles than might have been expected.
At Philadelphia money is tight and COM
mercial paper almost unsaleable, but the
trade in wool improves. In groceries trade
is good, though in tea and coffee dull; in
produce trade is fair, though collections are
slow.
Boston notes very quiet wool market.
Lumber is in very fair demand, and prices
of boots and shoes are firm, though
some grades of leather are lower
and hides are depressed. On the
whole, the commercial outlook is de-
cidedly more favorable than might have
been expected, and while the demand for
iron and rails is slack, buyers holding off as
far as possible, the producers of the finished
form of iron and steel are generally we'll
occupied and prices do not decline.
The business failures occurring through
out the country during the past seven days
number 274, as compared with 266 last week
For the corresponding week of last year the
| figures were 277.
A DENTISTS PATIENT.
She Makes Serious Charges, and He Calls
| It Blackmail.
COLUMBUS, O., Nov. GA special to the