Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1891-07-20
TRADE REVIEW
r.. G. Dun Il COmpany's Report
for the Week Just Ended.
Remarkable Increased ProduC-
ton of Pig Iron


Eight Cents Per Bushel-The Money
Markets and Collections Fair.
New YORK, July 20.-R. g. Dun g.
Companys weekly review of trade says
Business clearly grows somewhat
more active, though midsummer dull
ness is still the rule. At eastern cities
there is noticed more demand for manu-
factured goods, with larger sales for
materials. At the west, trade is en-
livened by the large yield of winter
wheat already harvested, and by the
very bright outlook for other crops. At
the south, however, where the crops ad-
vices are favorable, no improvement ap-
pears in business, which is duller than
usual, and at some points is pronounced
unsatisfactory.
The general confidenceis is strengthened
by the financial news from Europe,
which indicates that disturbances of the
money markets from that quarter need
not now be feared, and by the change in
the foreign trade of this country, which
points to a material reduction of bal
ances payable abroad in specie. Imports
at New York have sharply declined
since July /, amounting to about 81 ,300,-
900, or IL per cent. less than for the
same week last year. On the other
hand, exports of domestic products at
this point show an increase thus far in
this month of $3, 1924 900, or nearly 33
per cent. III comparison with the same
weeks last year.
There is remarkable increase in the
production of pig iron, almost to the un-
unprecedented figures of last year.
The sudden increase in production is
not mall respects q favorable symptom.
corresponding improvement in the de-
mand for manufactured products is yet
seen, and the stocks unsold at only a
part of the furnaces are now recorded rs
amounting to about 4S0, 900 tons, show
ing very large increase, particularly in
coke iron. Unless demand rapidly i'm
proves, the market must soon weaken so
far as to test severely the ability of some
of the concerns to continue production.
Already there is perceptible weakness in
the market at Philadelphia, and some
concessions in price are noted for pig
iron and for plates, while the market for
structural iron is extremely dull. AS
usual of late, the demand for rails is
scanty, the market for railroad bonds be-
ing still dull and disappointing.
Reports from other cities are generally
hopeful. Some improvement in the de-
mand for goods is seen at Boston. Pros
poets are considered brighter at Philadel-
phia. In spite of the usual dullness of the
season an improving tendency is seen at
Buffalo, and lake shipping revives at
Cleveland with a larger demand than a
a year ago. Orders for clothing aregood
at Cincinnati, and the retail trade in dry
goods brisk. At Detroit manufactures
move very fairly, and at Milwaukee
trade is helped by improving crop pros
poets.
Receipts of wheat, dressed beef. wool
and hides at Chicago show a great in
crease, and new wheat comes in literally,
50 per cent. of it granding No2. Clothing
and shoe trades show an increase over
last year, though in dry goods the trade
shrinks O little. At st. Paul trade is
backward, but prospects are good, and
for Minnesota especially bright. Bank
at st. Louis exceed last years
by per cent, and money is going out
to move crops with freedom, while gen
eral trade in all lines is of fair volume.
At other northwestern points, without
exception, excellent prospects are noted
as promising improvement, and at Nash
Vile trade is fair, but duh at Memphis,
at Little Rock, falling
off at Savannah, and sluggish at New
Orleans, though a better demand is seen
for cotton. At Jacksonville trade is
better, with crops in good condition.
The collapse in wheat speculation has
come with II fall of eight cents during
the past week, but corn is scarce and
three and one-half cents higher, while
oats have declined about one cent.
Pork and hog products are higher,
coffee has risen one-fourth and oil the
same, but cotton is unchanged, and the
general course of prices has been down
ward, as is natural at this season, the
fall during the past week having
averaged nearly .three-fourths of l per
cent.
The money market has generally been
in fair shape and collections fair for the
The business failures occurring
throughout the country during the last
seven days number PA, as compared
with a total of PAT last week. For the
week of last year the
figures were 207.