Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1891-05-09
TRADE REVIEW.
Compiled by r. G. Dun &
Cos Agency.
UNUSUAL SPECIE MOVEMENT.
Outlook In South and West Would Be
Highly Encouraging but for For
eign Monetary Uncertainties.
Crop Prospects Good.

| NEW YORK, May s.-R. G.. Dun & Co.'S
| weekly review of trade says:
The struggle to sustain Russian securities
| against disfavor Of Rothschild's demand for
| gold by German bankers and the threat
! ened Withdrawals of Russian gold from
| deposit in England, France and Germany,
| account for much of the unusual movement
of specie which has been in progress. The
| advance of Is Of l per cent at once in the
rate charged by the bank of England
| is rightly regarded as notification that
| England weakens TO fortify itself IN this
great struggle by drawing gold from New
York. This sudden demand comes at a
season when the market can spare gold with
less inconvenience than at any other, and
| the continued issue Of silver notes make the
withdrawal from circulation less felt,
though the fact that IL. S47 per cent OF the
customs receipts at New York are now IN
silver paper show that the remedy cannot
last always.
May starts of with a great plunge in
speculative prices, which has for some
weeks been anticipated. Wheat fell 10
cents in as many days. Sales here last
week were but 65,000,OO0 bushels, with o
net decline of 55S cents, and while corn has
declined 81 cents ii sympathy, and many
spectators have suffered, sales have been
but 100000 bushels. An element of
great strength is the accumula-
ton of evidence that wheat prospects
at the West is remarkable good, the acreage
having been increased heavily, one-thlro IN
Kansas and a quarter in Washington.
The unusually cold weather, while injuring
fruit and vegetables at many points, does not
appear to have seriously affected the larger
crops, which promise exceptionally We'll
After such high prices as have been real
lied, farmers are widely inclined TO put IN
a greater acreage OF wheat, oats, and corn,
and especially as foreign adTlceS fore
shadow a larger demand for wheat. With
such an agricultural outlook the demands
for manufactured products OF all kinds are
likely to improve. and thus great industries
will be helped. Iron already feels the stiff
fleming influence, and some kinds and grades
are q shade higher than week ago, with
larger buying OF pig iron AT unchanged
prices. The demand for structural iron is
for the time lessened by extensive strikes
in building trades, but for bar and plates
there IS more demand.
Wool is scarce, and manufacture is not
inclined TO activity until the new clip comes
forward freely. At St. Louis the promise
of trade is excellent, and at Kansas City
there is some improvement, as at Denver
also. New Orleans reports fair trade,
with cotton in moderate demand at some
what better prices, and sugar active but
lower. At Savannah trade falls of some, but
prospects are bright. At Jacksonville bust
ness is brisk and hopeful in all branches
in short, while the present trade in the
South and West is not quite as active as
usual, the outlook would be highly en-
couraging but for foreign monetary uncer-
tainties.
Business failures occurring throughout
the country during the last seven days
number 2i2, as compared with 255 last
week. For the corresponding week last
year the figures were 200.