Western Kansas world. [volume] (WaKeeney, Kan.) 1885-current, 1890-11-29
PROSPEROUS FUTURE.
Legitimate Business Not Affected Much BY
the Stock Brokers CrSze-The Pub
lie Have Taken no Part In
Speculative Operations.
Financial Institutions Will Now Drop
Speculation and Take an Interest In In
dustry and Commerce Yielding
Prices ReIp Exports.

New YoRK. November 24-R. G. Dun d
Co.'s weekly review of trade says:
Th' marvel to-day is that the business
worl has been able to stand with SO little
disturbance thus far, such shock and strain
rs tho past two weeks have brought. With
the assets of the largest commercial banking
houses in Great Britain turned over TO the
Bank of England, with several large stock
failures here and one at Philadelphia, and
some savings banks besieged by ignorant
depositors IN panic. the legitimate business
of the country has hardly been affected at
all as yet. Strlngency has ,checked some
buying. Difficulty of making foreign ex-
change threatens to retard movement of cot
ton, and more conservative temper is seen
in trading, but everything thus far indicates
n sounder condition of legitimate business
than many expected. The collapse of many
great 5peculatiOns has brought heavy losses,
but public mas not been taking much part
In 81 Al operations. 1t may be hoped that
fnan ial institutions, forced at last to drop
specI. atoms, which absorbed enormous cap
ital, will have more available after the storm
has passed for the use of industry and COM
merce. British losses by the shrlnkage in
South African securities are estimated at
$4S9, 100000. While money markets are gen
orally tight, there is still no unusual COM
plant as to collections, though renewals and
rediscounts have been large. The volume
of business continues to exceed that of any
previous year at all clearing houses outside
of New York, about 152 per cent. for the
month, thus far. Exports have been checked
at New York, falling 8 per cent. below last
year for the month, but the imports here in
half of November exceed last years by 20
per cent.
Prices are yielding, which will help exports
of products. Wheat has fallen cents dur
ing the week, corn about 2 cents and oats
about 81 cents. Cotton has fallen 4 cent,
coffee a cent, oil AZ cents, pork rs cents
per barrel. Sugar is also an IS lower, tin is
demoralized, lead weaker, and no takers are
reported for copper at 1871. The general
average of prices have fallen IL Der ceEt.
this month, but is still about per cent. abs re
that of the same date last year. Yet neither
the shrinkage in prices nor the stringency in
money markets can be attributed to opera
tons of the treasury, which has put out dur
ing the week $2,300,000 more of the new sill
yer notes, while taking in only 100000 of
other forms of money. The volume of cur
rency in circulation outside the treasury is
now over 81, SOC. 900 against 81, Ala, 0OO,0O
a year ago, but there are very few interior
markets at which more or less stringency is
r8s reported.
Sugar comes in largely at good prices, and
the recei pts of molasses at New Orleans are
liberal at some decline, with moderate re-
ceipts of rice. Trade Is healthy at the south.
Trade at Denver and Kansas City is fair, and
at st. Paul active, though money pressure is
felt at Milwaukee and Detroit. OF the great
centers Chicago fares best. The dry goods
trade equals last year, and the trade in cloth
ing and shoes is ending a profitable season.
Even at Boston and at Philadelphia the great
failures aae felt less in commercial circles
than might have been expected. At Phila-
delphia money is tight and commercial paper
almost unsuitable