Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-09-02
STOCKS TOOK A RISE
House Repeal Of Sihst Act AZ
fectsd Speculative Market
DUN 4 CO.'S WEEKLY REVIEW
Indications OF Recovery OF Money
N&xkss and Restoring az frs.ie
Confsdcnce Becomiag General

NE~ ioRK. Sept. L-R g. Dun 4
Co.'S weekly review % trade viii say;
The house has passed the silver biz by
. majority astonishing 70 it, friends and
favorable result IN the senate ~ now
believed hot 10 be far distant Instant
improvement in the stock market fol
loved the average o. prices. rising over
- per share, and there was also rise
in wheat cotton and pork. Money
markets throughout tho country are
more healthy, failures diminishing in
number and resumption by a number OF
banks and other establishments illus
trafes the general tendency toward re-
viyal Of confidence. Manufacturers do
not yet feel the upward impulse and ex-
hibit on the whole rather less Signs Of
improvement than a week ago. After
some days q encouragement. too. stocks
began 10 drag again. and in speculative
circles somewhat less confidence was
seen. But In these ard In the money
markets the record Of the week has boen
mainly Que Of satisfactory progress tow.
ard recovery.
Wheat was affected to some extent by
the Vienna report Corn yielded lit
tie with more satisfactory crop reports,
but in spite Of better advices from the
more important cotton producing states
the price OF that staple was advanced an
eighth
No Cotton Famine.
The stock carried over from the crop
year just closed. without any allowance
forsuch a decline in CONSUMPTION as
had been witnessed during the past half
year. apparently renders IL certain that
there Will be no cotton famine for year
10 come. The stock of American at
home and abroad Is about l.50O.O
bales.
The industrial situation mends but
little. The signs OF improvement OBJ
served week ago are scarcely. sus-
tanned. A cheerful tone is seen in the
iron and steel markets. but no price is
sufficient TO encourage resumption. The
output has been decreasing a. the rate
OF $4,000 tons weekly for the past four
weeks.
The shipment q: boots aud shoes from
Boston have decreased for the last week
- per cent as compared with the corre-
spending week last year. although a
somewhat better feeling is reported in
this branch OF business.
Light Wool Trade.
The sales OF wool at three chief mar
kets last week were only l,i46,17l
pounds against 6.095. 100 for the CORES
ponding week last year. and the decrease
in sales since new wool began to come
forward has been about 65 per cent.
The August business in wooden goods is
said to have been the smallest ever
known in the trade for that month and
there is some anxiety regarding settle
ments due in October and November.
somewhat more buying 10 sesn in cot
ton goods from the west and south. but
the market is still narrow and hesitat-
ing. In rubber goods there is some
what more demand and some works
start again.
The anxiety about money has been
greatly relieved and scarcely any prem
ium is paid for currency. The supply
for commercial use is as yet not very
plenty.
The number OF failures during the
past week in the United States was $50
against los for the Same week last year,
and in Canada - against * last year.