The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1893-08-04

n. a. Hun = Co. Report that . Hare
Week stilb Leaves the Dusiness World
Able Ia Rejoice In lts soundness and
strength Money Generally eight, Nut
the Disturbance Less than Had been
Feared Failures for the Week. Etc.
NEw YORK, July 29.-R. q. Dun d
Co. S weekly review Of trade, published
this morning, says:
The hardest week has left the business
world still able to rejoice In the soundness ana
strength disclosed Prices OF stocks were
greatly depressed Tuesday and "Wednesday,
closing lower than any other day since Janu-
ary 1879 and the fall on Wednesday averaged
over e. per share. and yet only two failures rs-
suited, and those OF brokers not especially I'm
pcrtant A sharp rally followed ON Thursday,
with buying from London by shorts and espe
ciallv significant buying by small investors No
banks here or ut other eastern cities and NO
eastern firms of large Importance have gone
down. but numerous hanks failed nj the west.
including some OF repute and large business
The Erie was again placed In the hands OF .
receiver. though for eight months of the fiscal
year the net earnings Of the comrany have
been larger than last years. And other roads
reporting are generally equai TO last years.
Money became stringent again with the do
preston In stocks. and the drain to assist
other cities has been heavy. but through oil
the strain the hanks 81 New York have passed
without trouble and imports OF gold have com
menced. From Al O)lVo 10 r ,0D.O0) In money
has been sent west every day. and o large ds-
crease in bank reserves Is expected rs tho
treasury has not teen disbursins heavily. Few
commercial loans have been negotiated and ~
high rates.
AT other cities the money markets have been
quite close. but bank failures at milwaukee,, In
dianapolis and Louisville have caused less diS.
turbance than might have been feared
The treasury purchases silver sparingly. abd
the exports OF that metal have been large. FIX
changes between this city and Philadelphia
have been especially disturbed. but banks OF
the latter city continue 10 supply customers as
we'll as they can. Chicago has drawn heavily
on New York hut in that and other cities the
bank statements indicate . crcdiiabie sound
ness.
| Grain rose hriskly on Monday, but all specu-
! lative markets yielded little when tight
money came and the slaughter Of stocks.
/ Wheat closed about cent lower, though west
ern receipts were moderate. Corn Is frac'
ton lower and also some hog products. Cot
ton has declined an eighth though receipts are
q little larger and exports smaller than last
year but holders show great stubtornness in
I view OF the large stocks In sight and the clos
I ing OF many mills
In other products no special change Is re
ported though prices tend lower Many WOODEN
factories are closing for a month or more or In
definitely because orders slack. Tor while
jobbers' orders are about as usual. clothers
/ still hold OF Fall trade is said TO be not more
| than a third OF the usual size. and many deal
ers expect to do no more than half the usual
business.
Dry goods are easy in tone. Fall cottoa'
though half a cent lower than last year II
price and exceedingly attractive. meet hu
moderate demand and print cloths are weaker
at 80 cents. The knit goods business is some
what better Sales OF wool at the chic
markets last week we're ga 90 pounds agains
$4,000 last year and for three months and I
half A.. SAC, .6.. against ~ 800 i3J last year.
Orders for boots and shoes are restricted
many shops running short time while Others
have closed and shipments from the east are
10 per cent less than for the same week las'
year
The iron business grows less ACTIVE. and II
spite OF past decrease in output the dcmans
does not equal the supply. so that four large
furnaccs at Pittsburgh are expected 10 close
Bar is weak and has been sold al siS5 Plate
are in narrow demand. and structural iron i
irregular. with beams down To siso or stec
bars - 600 tons were sold 10 agricultural imple
ment makers at Chicago
The business failures for the last seven day
number 37s in the United states and - J
Canada. II is noteworthy that only three TAI
ures were OF capital above SspUU each an
only ninety nine OF capital over 5000. Owe
nifty banks stopped during the week. but nearl
all were al the west Last week the failure
in the United States numbered ss' and the PR
vfous week Iy4