The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1893-08-04
WEEKLY TRADE REVIEW.

r. O. Dun & Co. Report that . Hard
Week Still Leaves the Business World
Able to Rejoice In It's Soundness and
Strength-Money Generally eight, But
the Disturbance Less than Had Been
Feared Failures for the Week, Etc.
New YORK, July 29.-R. G. Dun &;
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 and
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 So per share. and yet only two failures re-
suited, and those of brokers not especially Inn
portants sharp rally followed on Thursday.
with buying from London by shorts and espe-
cially significant buying by small investors No
banks here or at other eastern cities and 10
eastern firms Of large Importance have gone
down, but numerous banks failed at the west,
including some of repute and large business.
The Erie was again placed in the hands OF q
receiver, though for eight months of the fiscal
year the net earnings of the company have
been larger than last years. And other roads
reporting are generally equal to last years.
Money became stringent again with the de-
preston in stocks, and the drain to assist
other cities has been heavy, but through all
the strain the banks of New York have passed
bIOuulc, anu pOTbS VI BO1O nave GULL
menced. From 81 ,00oO 900 to &, 900 600 in money
has been sent west every day, and a large de-
crease In bank reserves is expected, as the
treasury has not been disbursing heavily. Few
commercial loans have been negotiated and at
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, and
the exports of that metal have been large. Ex-
changes between this city and Philadelphia
the latter city continue to supply customers as
well as they can. Chicago has drawn heavily
on New York, but in that and other cities the
bank statements indicate creditable sound
ness.
Grain rose briskly on Monday, but all specu-
lative markets yielded a little when tight
money came and the slaughter of stocks.
Wheat closed about cent lower, though west
ern receipts were moderate. Corn Is a frac-
tion lower, and also some hog products Cot
ton has declined an eighth, though receipts are
little larger and exports smaller than last
year, but holders show great stubbornness in
view of the large stocks in sight and the clos
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 are slack, for whilc
IODUCIS OIu6TS dIO aDOub tS uSud4y CAOthAOAb
still hold of. Fall trade is said to be not moro
than 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 cottons
though half a cent lower than last year In
price and exceedingly attractive, meet but
moderate demand and print cloths are weaker
at 80 cents. The knit goods business is some
what better. Sales of wool at the chief
markets last week were 900 pounds against
s,140 600 last year, and for three months and
half A, $40 767, against s6 1890, ,130 last year.
Orders for boots and shoes are restricted,
many shops running short time, while others
have closed. and shipments from the east are
13 per cent. less than for the same week last
year.
The iron business grows less active, and In
spite of past decrease in output the demand
does not equal the supply, so that four large
furnaces at Pittsburgh are expected to close.
Bar is weak and has been sold at $1.55. Plates
are in narrow demand, and structural iron is
irregular with beams down to 81. so. or steel
bars rs, 600 tons were sold to agricultural 1mple-
ment makers at Chicago.
The business failures for the last seven days
number 378 in the United States and % in
Canada. 1t is noteworthy that only three fail
ures were OF capital above 100000 each and
only ninety nine of capital over 5000. Over
fifty banks stopped during the week, but nearly
all were at the west Last week the failures
in the United States numbered 457 and the pre-
vious week 354