Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1890-11-21
LEGITIMATE BUSINESS THE
LARGEST KNOWN.

Gcsptt0 Che Stock Depresston-Prices on
the Stock Exchange Thrown Back to
the Lowest Point for Five Years-An
Encouraging Condition.
New YORK, Nov. 15.-R. q. Dun & Co. s
weekly review OF trade says: Those who
who have long expected n severe reaction
on the stock market have now seen the
average OF prices thrown back to a lower
point than has been touched at any other
time for more than four years. 1t remains
the fact that the legitimate business
throughout the country is the largest ever
known. not much inflated or endangered by
speculation, and so far sound that COM
plants in regard to collections have been
much fewer than usual. The check now sus-
tanned may, not improbably, produce some
shrinkage in transactions and diminutton
of profits, but the industrial and CONNER
cial conditions have been so favora bic that
speculative disturbances are the less likely
to affect general business seriously.
Reports from other cities show that at
most points the events in Wall street have
had little or no effect as yet. AT Boston
transactions have been somewhat limited
and money is firm at high rates. Wool
sales are smaller. but more activity is 'eN-
season in December. Leather is quiet and
easy and hides dull and lower, but because
bark and other materials are strong. 1t is
thought neither cannot recede much. Boot
and shoe manufacturers are getting the
recent advance in prices, with shipments
exceeding last years. Lumber is quiet.
AT Philadelphia money is tight and little
commercial paper offered or selling. Wool
far Inv
with slight advance in some grades.
Leather is strong and the shoe trade larger
than last year, though less brisk than of
late.
AT Chicago money is active at per cent.
but country banks are sending in funds for
investment and eastern disturbances are
little felt. Grain and cured meats equal
last years. A slight loss is seen in dressed
beef. butter and cheese, and a heavy loss
in hides but liberal gain in wool and lard,
while the trade in dry goods, clothing and
shoes is much larger with satisfactory col
lectons.
No other western point shows disturbance
in trade, though money is generally close.
AT St. Louis the rate is 6 to S per cent.
and the volume Of trade large. At Oincin-
natl it is tight, but collections are very
fair. The clothing season exceeds eXpecta-
tions and the grocery trade is very good.
AT Detroit money is close at Z, collections
very fair and manufacturing active. The
Michigan wheat area shows per cent. in
crease. At Cleveland money is tight COL
lections satisfactory and trade good except
clothing. AT Milwaukee money is close at
&, collections satisfactory and eastern
troubles do not check trade. At Omaha,
St. Paul and Kansas City money is in
strong demand, collections healthy and
business good.
Southern cities make much the same re-
port. Baltimore reports all business
healthy, mills running full and trade brisk
with satisfactory collections. New Orleans
finds money active, cotton receipts below
last year, but sugar and rice liberal with
good demand for ALL Atlanta reports easy
money and good trade, and Savannah re-
ports money tight, but trade active. AZ
Jacksonville earlier travel than usual
causes activity.
The accounts show a remarkably en-
couraging condition OF business, but more
than the usual scarcity of money, in spite
of good collections.
The iron output Nov. was lT,l77,g5S
tons weekly, against 1929 Oct. I, and con-
siderable decrease in production is expected
II prices yield. The demand for manu-
featured products is now distinctly smaller
and a railway supplies decrease is fore
Swallowed by financial troubles. The oom-
mercial trade is dull, holders trying to real
ize October prices, and the high price of
coke causes complaint. Tin is "a cents
lower, copper steady and lead weak, be-
cause OF considerable importations. India
rubber is lower.