The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1891-08-06
Weekly TRADE REVIEW.
Business Quite Dull All Over the
Country Of the Present
Time.
Reasons for This State Of Affairs
In the West and
South.
Immense Receipts Of Farm Products at
ChIcaxo-Markct for bread stuffs-
business Failures Reported.

Business Failures Reported.
New YonK, Aug. 5.-Business continues
4 dragging and dull. Tho stock market IL
greatly depressed, the average price of act
i've stocks being Sl.5D lower than q week
ago. False reports of failures have some
thing to do with the decline, and some of
the houses thus assaulted are actually among
the strongest in the street. It Is a more
important fact that operators are loaded
with stocks and the public is not buying,
and the apprehension of bankers n bro
ksrs forces liquidation. The earnings Of
railroads are good, and their controversial
appear less serious in effect, but the compa-
MES are poor, and many Of them forced to
economic in purchases, although an enor-
NOUS movement of crops has begun. In
commercial circles there seems to be very
general and growing confidence that the
business Of tho fell will be large and prof
liable, md some improvement is Seen, but
not enough as yet to justify sangulne
views.
Trade at the south is peculiarly depressed
because there is too much cotton. Wlth
several hundred thousand bales of last
wears crops loft over in the worlds mar
kets and with competent judges predicting
another crop even larger than that of 1880,
it ia no wonder that prices are low and pro-
ducers scarcely get enough to pay for rails
ing and picking. Hence country merchants
do not buy freely and the prospect OF q great
Weld, which at other times might be help
full. tends to produce staonation. Again. in
parts of the west whore crops failed last
wear, trade has not yet recovered from the
great depression resulting, and as long as
the corn crop is in doubt complete recovery
ia not to be expected. In several states
legislation hostile to capital causes much
disturbance. Further, the collapse of real
estate speculation in many parts OF the
west and south has brought severe losses
and embarrassment to many.
At the east, monetary uncertainties have
a powerful influence. European dlmcul-
ties do not pass as quickly or 1uily as WAS
expected. and now serious financial trouble
is apprehended in Russia because OF failure
Of orops. which will only help this country
in the end. There is growing doubt
whether the movement of crops here Will
not cause a temporary drain greater Imam
eastern money markets can meeb; ou' u ~ y
grain can be sold the gold will come. Inc
apprehension grows stronger, also. that
next winter may bring dangerous legislation
by congress, and possibly unllinlteo com
age of Silver. One large financial instltu-
ton has bought English consols to a con-
siderable amount s, ap u g q aeeonn of . It's de som
its in gold. The treasury has ADDED only
S7OO.OOO to the circulation during the week,
absorbing gold but issuing more SILVER
and treasury notes. IhouRn no
gold has been e1ported, NE out. a;o
here and at Boston. Money is close at
Buffalo and Cleveland, in demand at Chl-
capo. Cincinnati and Detroit, hrmer at to
8 per cent. at St. Louis. in good supply for
legitimate business at Milwaukee. Close at
Omaha, Nashville m Atlanta, tight at
Jacksonyille. but easier at Savannah, u
in fair supply at New Orleans;
Rusiness at Boston has further improved,
and wool is quite active, sales reaching
1921, 900 pounds. More activity appears IN
WOODEN goods n a better demand Tor
boots and shoes, while leather is quite
STEADY. Hides are dull and domestic lower
at the West. Philadelphia notes more fire.
uuent orders for wool and woolens, n I'M
provement in the tobacco trade, but IRON 10
very weak, and while money is freely loaned
on call, time loans are Almost IMPOSSIBLE i 10 70
Quiet. but the demand for lumber
improves; at Pittsbure business is un,
changed and rather slow; at Cleveland
fairly good for the season, and at Clncln-
natl somewhat more active. Cnicago re-
ports receipts of wheat seven times last
years, of rye, cured meats, lard, and wool
double last vear's, of dressed beef a third
larger, with some increase IN cheese ana
butter. Dry goods sales are slightly Larger
and good orders are seen tor clothing ana
shoes. At Omaha trade is far and at MIL
waukee satisfactory. and increasing ac-
tivity is noted at st. Paul. Throughout
the northwest the prospect of crops IL ex-
cscdingly good. but at Kansas City wet
weather interferes with harvesting. Ihe
distribution of goods is on a larger scale at
st. LOFTS, and at southern points business
is dull or only fair, though curlously i'm.
proved at one or two localities because OF
injury to cotton by heavy rains.
The great industries show no important
change for the week, though it must be said
that disbursement in the WOODEN goods
trade seems to increase, and it IS admitted
that sales are not equal to last years,
though tho trade was dragging then. Much
of the trouble is attributed to excessive
credits in the clothing trade. In boots and
shoes there is continued Improvements, and
Boston shipments since July 2 have largely
exceeded those of the same weeks last year.
TIL coal trade is stlll depressed by excessive
production, the output exceeding last years
to date by :, ZOO. COO tons. Copper IL still
depressed by the apathy OF home consum-
ers, and there is very little trade in lead,
while speculation has lifted and again de-
pressed the price of Tin. philadelphia de-
scribes the iron market as frightfully dull.
and sales to realize are made at prices con,
siderably below quotations. Structural
mills are we'll supplied for this
present, and bar iron is steady,
though the poverty of railroads makes the
demand scanty, but plates nre irregular,
buyers refrain from taking rails, and the
lower grades of pig iron ARE offered here
below quotations. Th market for bread
stuffs has been strengthened by reports of
injury to the crop in Russia. and wheat has
risen IL cents and corn halt a cent. while
no change appears in cotton. The price of
oil has fallen over eight cents for the week.
but pork products arc u shade stronger.
Tho business failures occurring through
out the country during the last seven days,
number, for the United States, 800, and for
Canada, eighteen. or n total of 247, as COM
pared with n total of 254 last week, and 27i
the week previous to the last. For the cor
responding week of last year the figures
were 1879, representing 16S failures in the
United States, and twenty-five in the Dc.
minion of Canada.