The Globe-republican. [volume] (Dodge City, Kan.) 1889-1910, 1891-06-10
Trade and Money.
Twenty three of the largest iro

ming valleys go into blast to-day
after five months of idieness, due t.
the high price Of coke and the higl
freights on fuel and raw material
The end of the long coke strike last
week brought about this change in
the iron situation, and its effect il
reaching as far north as Milwaukee
where the Bay View furnace as well
as the Chicago furnace, will blow in
soon. In view of this prospective in
crease in production the buyers are
naturally not afraid Of any higher
prices, as rule, though prices are
very firmly held. The Thomas Iron
Company estimates that by the first
of July it will have shipped 100000
tons more than in the first six months
of any other year, and says it has no
stock on hand. Here the failure of
the foundrymen and house smiths to
end their strike made it dull week
Southern iron has been creeping in
and filling the vacuum wherever any
existed by reason of the idleness of
northern furnaces. Boston takes a
good deal Of southern iron now for
the New England trade. Virginia
coke iron is In good demand in Chi
cago. and during the Connellsville
strike contracts running six months
to year were placed in Virginia.
The entire market is active in Chica
go, as indeed is general trade, that
being one of the few cities that shows
a greater volume Of business, accord
ing to bank clearings, than last year.
The dry goods people generally
talk cheerfully, and the jobbing trade
which is usually slack at this season
has been well maintained.
Gold shipments are steadily falling
off in spite of the local rates of for
eign exchange. which went up last
week just as the Bank of England re
duced it's price for American gold.
Only about $4.5OO,OOO was shipped
last week and the receipts from the
interior were unusually heavy, as
they need money to move the crops
east there will probably be tight
ening in money before we get ours
back from England in order to move
the crops on to Europe. The prepa
rations here are for a general tighten
ing in the money market, and the de
mand for time loans is general, while
but little money is to be had for that
purpose, though there is but little
lack of call money, and the last bank
statement showed that more loans
had been paid than made. One reas
on of this general disposition to clear
the decks and sail close to the wind
is the altered attitude of the Treas
ury, which instead of standing ready
with great surplus to relieve pos
sible tight money market, is confn
ing itself to refraining from disturb
ing the twenty-eight million on de
post in National bank repositories,
and talking seriously of extending a
portion of the four and a halls in
stead of redeeming the whole of them
that fall due on September LIST.
Signs that Europe will want a good
deal of our bread stuffs are constant
ly increasing. 1t is announced that
the German Emperor will shortly
hold council to consider the reduc
ton of the grain tariffto 2 IL marks.
The French Chamber of deputies has
already reduced the duty on wheat
and -four for the year ending June l,
1892, and has ordered each fortified
town in France to keep in store a
supply of breadstuffs sufficient for two
months ahead. It may be some time
however, before Europe sends back
our gold. Although she has about |
marketed her speculative American
securities and is not trying to sell the
American investments, she is not
buying any more except in spas
modic fashion. The result is that |
foreign bills are scarce in the mar.
ket.-New York Press.
In His Boots.
From the Normandale News.