Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1891-05-25
A DEPRESSING INFLUENCE
Given to Business by the Continued Outg,
of GalH

OF Uotus
NEW YoRK, May 25.-The weekly re.
view of trade by r. G. Dun & Company
says:
The continued outgo of gold has a de-
pressing influence. The fall in prices of
all commodities has been about 2.S per
cent. in two weeks, The local money
market is fairly supplied at moderate
rates, as other eastern and western mar
kets are almost without exception, but
at few southern points money is close
or tight, and much caution in extending
credits prevails.
The treasury has paid out during the
week but 5000, 900 more than it has
taken in, of ordinary currency. but has
also put out 100000 more fractional
silver.
AT most places trade seems healthy,
and there is not more than the usual
complaint about collections.
The iron business is rather weakened
at Pittsburg by this prospect of in
creased supplies, and is very dull at
Cleveland, but somewhat more demand
is seen at New York and Philadelphia
for various forms of manufactured iron.
Steel rails do not share the improvement
and are fiat, nor is structural iron active,
on account of the arrest of building, but
there is more demand for plates; and
bar, which has been sold at 81 65, now
commands $1.72 1-2.
The coal business is still threatened by
production far beyond agreement, and
prices do not seem 10 warrant the ad-
vance proposed for June /.
The woolen industry is waiting, with
out any improvement in goods, to Justify
the demand for higher prices on new
wool, though there is cheering activity
in fiannels.
AT Boston trade in leather was inn
proving until the Davis failure was an
nounced, but was then checked, though
it is not believed that prices or credits
will be affected beyond few days.
Hides are dull with some concessions,
and the boot and shoe trade is generally
dull.
AT Philadelphia collections are very
bad in groceries.
Pittsburg notes that railroad orders
are held back waiting for crop results;
and while window glass does well, flint
glass has slack business.
At Cleveland dry goods, groceries,
hardware and shoes improve fairly, but
machinery lumber, iron ore and cloth
ing are dull.
At Cincinnati the tobacco trade is
brisk, but the carriage trade not quite
up to last years.
Detroit notes good prospects, though
margins are close.
AT Chicago dry goods sales exceed last
years considerably, as do sales of cloth
ing, and there are very fair country or
ders for shoes.
Wool receipts gain over last year so
per cent, corn 33 per cent, and dressed
beef, cheese butter and hides gain. but
i'll cured meats there is a decline of 80
per cent, and in lard, flour and barley
of 33 per cent
Crop reports at Chicago are very salts
factory, and the same is true at st. Paul,
Omaha and many other points where the
recent rains have made wonderful i'm
provements. Indeed, the one rain of
Saturday last was probably worth some
hundreds of millions to the country, for
extensive drouths seemed near.
Trade at western cities is quiet but
very hopeful.
At the south, also, crop reports are
highly satisfactory, and trade, though |
only fair, or even sluggish now, and at
Memphis generally depressed, is expected
to be excellent hereafter. No material
injury had been sustained from drouth
in the region tributary to New Orleans
by cotton, sugar or rice, but the heavy
rains have done great good. In general |
it may be said that the crop outlook has
rarely been brighter than it is now, and
this gives the strongest reason for hope
that any present depression in trade will
be temporary.
The business failures occurring
throughout the country during the last /
seven days number 254 failures, as
with 237 last week For the
week of last year the
figures were 222