Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1890-09-05
DuN's WEEKLY REVIEW.
Various Causes Tend to Relieve tho strain
in tl,n Mnuoy hynrEoA

In tho Money Market.
NEW YORK, Aug. 30.-R. G. Dun g. Co.'s
weekly Review says: The great relief in
the money market here caused by the
treasury purchase OF 4.1-2 per cent. bonds,
the refusal of the labor federation to take
up and extend the strike on the Central
railroad and the prospect that the senate
VIII soon reach final action in the
tariff bill-have all tended to improve tho
state OF business. At the same time better
crop prospects have brought distinct reac-
ton In the spcculations which most retard
exports. Thus. while the volume of domes-
tlc trade continues greater than in any
previous year at this season. bank clear
1nss for August outside of this city exceed
last years by Fl per cent, and the outlook
is clearer and brighter.
Wool sales at Boston reached 3,OO5, 900
pounds and many mills having substituted
territory warp for fleece wool in use, the
market for fleece has been weak and better
orders for wooden goods are reported by the
mills. A fair trade continues in cotton goods.
Copper is firmer again, after large sales at II
cents. Tin has advanced 1-2 cent and lead is
stronger at S4.70. The boot and shoe ,trade
is large and active. The past week has
witnessed some further improvement in the
demand for manufactured forms of iron and
steel plate and structural mills are crowded.
with better prices in some cases. But the
pig iron market, according to private ac-
counts from Philadelphia, is badly disorgan-
lied at present and is not stronger there
the doubt whether production has not much
exceeded the demand affecting the views of
buyers.
Stagnation prevails in the coat trade and
it is admitted that many prices still rule in
actual sales. The reduction of output re-
stricts very imperfectly the total this year
to Aug. 1G, being only 100000 tons behind
last years record. Accounts from other
cities are even moro favorable than usual,
excepting as to money mardeta. Boston
notes especial activity in leather. In Phila-
delphia collections in many branches rem
dered Slow by monetary pressure. Chicago,
on the contrary, reports money plenty at 6
per cent. on call and collections easy; q
better trade than last year in dry goods and
clothing; a reduction of IS per cent. in
stock yards business since the strike; a de-
crease Of SO per cent. in wool, compared
with last year; 20 per cent. in butter and q
steady decrease in dressed aeef, aut large
increase in cured meats, lard, cheese, cattle,
hides and 100 per cent. in hogs.
St. Louis has q fair volume of trade and
Milwaukee notes a rapid absorption of
money by grain movements at increased
prices. At Detroit. Cleveland, Omaha and
St. Paul trade is satisfactory and at Minne-
apolis the flour output is 100000 barrels,
and the lumber trade is firm. At Kansas
City no change is noted and at Pittsburg a
good demand1or manufactured iron. savan-
nah reports brisk trade, but Jacksonville
much discoura cement. Atlanta trade is good
and the crop outlook very promising. In
terror money markets do not yet feel the
relief seen here, and at Philadelphia the
market is tight at s ga to per cent. fol-
commercial paper, at Pittsburg active at {
| to T, at Cleveland the demand exceeds the
| supply, at Detroit the demand is strong at s
at Milwaukee the market is very firm at 8
| and at st. Paul tight as it is at st. Louis
| with to ruling, and ct Savannah and At.
lanta. Presumably this pressure will con.
| tinue as business expands and products &C
| forward to market.
| The movement of some staples is checked
| by high prices, wheat exports fall below las
year and the value of all exports from New
| York for four weeks show a decrease Of q
| 1-2 per cent from last year, wheat and corr
each about 2 cents and oats 8 cents 70
the week, oil over 1 1-2 cents, pork a5 cent
per barrel and cotton SIS of cent. Hog:
lard and butter are stronger and coffee I'm
| changed. The business failures occurrin
seven days number 1s9 as compared will
1872 last week. For the corresponding weel
| of last year the figures were eli.