Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1891-08-13
MORE CONFIDENCE.
Increasing in Business
Owing to Crops.
UNPRECEDENTED YIELD OF WHEAT.
Urgent Need of Money to Move Grain For
ExpOrt-Prices at a Lower Level
Loans Made With CautIon-Iron
Unimproved.

New YORK, Aug. S.-R. G.. Dun &
Co. s weekly report of trade says:
While business in many lines is dis
appointing, the feeling of confidence
distinctly increases. The belief in
creases that the country will be able to
sell such vast quantities of grain
abroad, and draw so heavily upon for
eign supplies of capital that all home
industries will be greatly stimulated.
Though at some northern points money
markets are tight, supplies at western
centers are adequate for legitimate
business and mere speculation gets less
help than usual. Depression in some
great industries continues and is real,
but may be traced to causes obvious
ly not permanent Thus the iron
manufacturer is much set back by ina
bility of railroads to make purchases
because they fail to negotiate securi-
ties. Cotton manufacture is retarded
by the extraordinary fall in the price of
cotton and consequent losses on goods
made from material purchased early in
the past year, but still there is a fairly
large demand and at some reduction in
prices most goods are moving freely.
The wool manufacture is distinctly i'm
proving. In mems wear goods there is
more encouragement and many west
ern buyers now here have from home
advices that goods are selling more
freely. Spring orders are still short of
the usual amount and last year cloth
iers bought too much of cheap, low
grade goods. In dress goods a fair
commission business is seen, domestic
products largely taking the place of
foreign.
Reports from other cities reflect a
growing confidence in the future. At
Boston trade in merchandise increases
and is very good for boots and shoes,
with factories well employed and west
ern and southern reports are quite
favorable. With active trade in wool
and better in goods the close money
market causes some embarrassment.
AT Philadelphia in most trades there is
much complaint of slow collections
At Pittsburgh manufactured iron is
fairly active and the glass trade good,
but collections rather slow. At Cleve-
land trade is enlarging with confidence
and at Cincinnati the furniture trade is
growing, but collections are but fair.
Chicago feels the effect of great crops
distinctly, wheat receipts being seven
fold last years, rye five fold, barley
two fold, wool nearly double and in
corn, beef, hides and butter some in
crease is had. Sales of clothing and
shoes are larger than ever before at this
season, and in all lines collections are
satisfactory. At other western points
the crop prospects are almost every
where mentioned as unsurpassed, and
at st. Louis the demand for. money in
the interior grows more pressing and
commercial borrowers are held closely
to their needs. At Minneapolis and St
Paul, Omaha and Kansas City, trade is
generally good; at Louisville and Nash
vile improving. At Memphis and Sa-
vannah reports of the trade are less IA
vorable, and at Jacksonville business is
very dull. Unfavorable weather has
strengthened cotton at New Orleans
and the demand for sugar is good with
rice strong and money in good demand,
but with supply ample for legitimate
trade.
Prices of commodities are going
down and for the first time this year
the general level is lower than a year
ago, having declined one-half per cent.
the past week. Wheat has fallen three
fourths of cent in spite of exports
greatly exceeding last years and the
enormous western receipts make con-
stantly repeated assertions that the al
lance can hold back wheat appear
ridiculous Western estimates not usual
ly extreme now allow from 5s5, OOO,-
900 bushels upward for the crop, while
even more moderate eastern estimates
make 200, 600, 900 bushels for exports
Corn is ~ cents lower, pork products
fraction lower, coffee an eighth
lower.
Financial prospects have not changed,
and though money on call is cheap
commercial loans are made with
caution Large failures have occurred,
but none threatening financial disturb
anee. The tone abroad Is less strained
and the bank of France has gained gold
largely, but pressure in Europe must
result If needs for breadstuffs are as
large as are supposed Foreign i'm
ports of merchandise in New York in
July fall 10 per cent below the year,
while the exports largely increase.
The demand for money to move crops
begins 10 be felt by many banks