Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1890-05-22
TRADE AND TRAFFIC..

! K. G. Dunn & Co.'S Weekly Review of the
Country's Trade-A Tendency Toward
Lower Prices in the Grain Markets-Cot-
ton Sluggish and Coal Weakening
General Trade Only Fair-The Weeks
Failures.
New YORK, May 17.-R &. Dun &
! Co.'S weekly review of trade SAYS:
The stock market has rushed ahead until
it has absorbed all the money within reach,
/ and now some signs of reaction appear,
with little selling by foreign holders.
Substantially the same phenomena has been
observed in the wheat and corn arkets,
and in the market for pork products. SO
the tendency has been lower prices dur
ing the past week, as to most products that
are objects OF active Specul alton, and after
remarkable advance stocks and bonds be-
gin to manifest some reaction, which is
! called healthy by operators. 1t means that
/ the betting on higher prices has reached its
/ limit, and now the question is whether still
higher prices will actually come. In the
wheat and corn market this natural
= reaction began more than week
ago. The tendency of prices
during the past week has been down.
ward, wheat declining 2 cents sales here
of only ii 100000 bushels; corn la cents
sales of 12,50O, 900 bushels, while oats
steady. The trade begins to comprehend
that inside of thirty days a new crop Of
wheat will begin to come into the market,
and while winter wheat is certain to be
short the reports from spring wheat States
indicate increase in acreage and good con-
diton. The cotton market is sluggish.
{ though with nominal sales of 100000 bales,
Tor it begins to be understoo Cd that raw cot
ton at the present price can not be worked
into goods at the present price, and of ma
B terial advance in the prices of goods there is
seen no Indication. Prospects for the next
crop are favorable Oil is 25s cents higher.
without definable reason. The market for
corn is weaker, and the increased produce
ton is sufficient explanation. The key of
the iron business is. that railroad building
does not increase, though it is estimated
that about 5000 miles may be built this year.
and the demand for structural iron is cut
down by the concession of the eight hour
day to the building trades in many cities.
Coal is still weak but copper and tin are firm
and rising. Tie reports from other cities
are almost uniformly encouraging. At
Chicago dry goods sales exceed last years,
and payments are fair, but the clothing
trade is dull, and the fact that bank clear
ines are larger than ever before finds cXpla-
nation in speculative activity in
the grain and pork markets. st.
Louis reports good trade. and
supplies of money equal to the demand,
while at Pittsburgh trade is rather dull. at
Cleveland fairly active causing some mon
etary stringency at Milwaukee, only fair at
St. Paul, improved by recent rains in the
Northwest, where drought began to be
feared, at Kansas City rather quiet, and at
Omaha good, with easy money. The mon
etary situation at New York has not
been altogether satisfactory Money
has been growing closer, and per cent.
is now the selling rate, with every
Indication that the supply for specu-
lative uses has been nearly, if not quite, alb
sorbed by the advance in the market for
securities
Failures for the last seven days numbered:
For the United States, 19l; Canada, II; total,
PIP; compared with 209 last week For the
corresponding week last year the figures
were 2O7 in the United States and 35 in Cam
ada.