Iuka reporter. (Iuka, Miss.) 1888-1894, 1891-05-14
TIE BUSINESS OUTLOOK.
Report Of II. G. Dun u Co, Showing
the State of Trade.

r. G.. Dun & Co.'S weekly review Of trade
says: The financial markets Of the world
have "la grippe" the disease imported from
Russia, and a New York variety by way OF
London. The struggle to sustain Russian
securities against the disfavor of the Roths-
childs, the demand for gold from German
bankers and the threatened withdrawal OF
Russian gold from deposits in England,
France and Germany, account for much OF
the unusual movement of specie which has
been in progress. But accounting for it does
not stop it, and the actual outgo OF about
4,000, 900 in April and not far from $9.000,-
600 already for nine days of May, has caused
some weakness in the markets. The advance
of one-half of per cent at once in the rate
charged by the Bank of England is rightly
regarded as a notification that England
means to fortify itself in this great struggle
by drawing gold from New York. This sud
den demand comes at a season when this
market can spare gold with less Inconvenience
than at any other, and the continued issues of
silver notes make the withdrawal from circu-
lation less felt, though the fact that forty
seven per cent of the customs receipts at New
York are now in silver paper shows that the
remedy cannot last always.
May starts OFT with great plunge III spec
0lative prices which has for some weeks been
anticipated. Wheat fell Is cents in as many
days, much to the disgust of men who have
been predicting famine before July. 1t is
still fact that the possible demand next
year, on account of the failure of crops in
France and elsewhere has to meet an excep-
tionally favorable prospect, here, while the
export demand for wheat this year, even since
prices have broken, is not large enough to
prevent the carrying over of great unsold
surplus next July. Sales here last week were
but 65, 600 900, but with net decline of 5Ss
cents, and while corn has declined 81 cents
in sympathy, and many Spectators have
suffered, sales have been but 600
bushels.
The stock market has been weakened by the
gold movement, in spite of the very harmo-
NOUS meeting of the Western Traffic Associ-
alton that would doubtless cause u strong
advance in prices, WEI the fear of heavy
outgo of gold and possible disturbances in
Europe once removed. An element for
strength is the accommodating evidence that
the wheat prospect at the West is remarkably
good.
Iron already feels the stiffening influence,
and some kinds and grades are a shade higher
than a week ago, with large buying Of pig
iron at unchanged prices. The demand for
structural iron is for the time lessened by the
extensive strikes in the building trades, but
Tor par ana plates tnere is more demand.
Wool is scarce, and manufacturers not in
clined to activity until the new clip comes
forward freely.
At Philadelphia fine wool is two cents
lower, and trade in liquors, oils, tobacco and
cigars is quiet, in drugs good, and i'll chem
icals and Jewelry fair, with an Improvement
| in paints. Collections are on the whole some
what improved, but there is yet much com
plant. At Pittsburg a slight improvement
is seen in Bessemer and some kinds of manu-
featured iron. New Orleans reports fair
trade, with cotton in moderate demand al
somewhat better prices, and sugar was active
but lower. At Savannah trade falls off some
but prospects are bright, and at Jacksonville
business is brisk and hopeful in all branches
In short, while the present trade is not quite
as active as usual, the outlook would be
highly encouraging but for foreign and mon
etary uncertainties
Failures Of the week number 212; for the
corresponding week Of last year the figure
| was 1856