Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1890-11-22
BUSINESS REVIEW.
FURRY In NEW YORK HAS NO
EFFECT ON TIE COUNTRY.
Condition Of Legitimate Trade Much Better Than
Was SuppOssd-COllectOns Reported 10 Be
GOod-Wheat, Corn and Pork Decline
in Price, Which. Will Help
Exports Greatly.

NEW YORK, November 2l.-R. G..
Dun & Co.'s weekly review of trade
says; With the largest commercial
banking house in Great Britain turned
over to the Bank of England, with sew
eral large stock failures here and one
at Philadelphia, and some savings banks
besisged by ignorant depositors in a
panic, the legitimate business of the
country has hardly been affected at all
as yet. Stringency has checked some
buying. The difficulty of making for
eign exchange threatens to retard
movements Of cotton and more con-
servative temper is seen in trading, but
everything thus far indicates a rounder
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 financial institutions,
forced at last to drop speculations,
which absorbed enormous capital, will
have more available funds after the
storm has passed for the use of industry
and commerce.
British losses by the shrinkage in
South American stocks, nitrates,
cedulas, and South African securities,
are estimated at S439,000,0 600. The de-
preston in American stocks since last
spring has involved loss of more than
5000, 900, 900, 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
rediscounts have been large. The
volume of business continues TO exceed
that Of any previous year at all clear
ing houses outside New York about IS
per cent. for the month thus far.
Prices are yielding, which will help
exports of products. Wheat has fallen
4 cents during the week, corn about >
cants, and oats ~ cents. Cotton has
fallen one-eighth, coffee half cent, oil
Az cents, pork 20 cents per barrel, and
hogs 30 cents per 100 pounds. Sugar Is
also an eighth lower, tin pate is dcmor-
allied, lead weaker, and no takers as re-
ported for copper at l64 cents. The
general average Of prices has fallen | i
per cent this month. but is still about :
per cent above that OF the same date
last year. The volume Of currency
in circulation outside the Treasury Is
now over 81, 800, 900 against Sl,4lj,000 a
year ago, but there are very few interior
markets at which more or less stringen-
cy Is reported. Baltimore, Pittsburg
and Galveston are exceptions, being
well supplied. But at Chicago and
most other points, while the demand is
sharp, no trouble is reported. The
South is moving the largest crop OF cot
ton ever grown. Baltimore notes no
disturbance because of eastern troubles.
Pittsburg notes fair business at all
mills, no change in iron or steel, and
good trade in glass. OF the great cen
tres, Chicago fares the best. feeling
eastern troubles little.
The dry goods trade equals last year
and the trade in clothing and shoes is
ending a profitable season. ~ Phila-
delphia, money is tight, and CONNER
cial paper almost unsaleable; In produce
trade is fair though collections are slow
On the whole the commercial outlook is
decidedly more favorable than might
have been expected. The producers oi
finished forms OF iron and steel are gen
orally well occupied and prices do moi
decline.
The business failures occurring
throughout the country during the past
seven days number pa as compared with
26G last week. For the corresponding
week of last year the figures were 277.