Iuka reporter. (Iuka, Miss.) 1888-1894, 1893-06-29
TRADE REVIEW.
Condition and General Outlook 81
Tho Prospects Of the Country.

r. G. Dun & Co.'s weekly review
Of the trade says. The improvement
expected from the issue OF clearing
house certificates, thus utilizing credits
instead of cash in local dealings, has
not yet been realized. Other cities,
especially at the west, have not taken
similar measures to relieve the pres
sure, and the demand for money from
the interior continues undated. The
failure Of banks at San Francisco has
lead to heavy demand from that
quarter, 81, 800, 900 having been sent
in q single day.. Distrust of the
weaker banks was avoided BY the APP
plication of the Bank of Commerce
for 81 ,0O0, 900 certificates and 81 $780,
600 were issued Thursday, but the
pressure for rediscounts for interior
banks is beyond the liability of New
York to meet. Imports Of 81 ,000,-
900 in gold gave a quick increase OF
confidence for time, but, with the
actual issue of certificates the foreign
exchange rose cent, chilling the
hopes of a further movement this
way.
The secretary Of the treasury has
given notice that he will anticipate
the payment of interest July !,
amounting TO $7,500,00O, but only
$1,000, 900 is OH the books held by the
banks which will be Immediately dis
bursed.
The volume of trade is certainly
reduced by the monetary stringency:
Bank clcarings outside of New York
are dealing materially in comparison
with last year. In some departments
of business orders for merchandise
are deferred, since there is no assur-
ance Of an ability to carry goods until
they are sold, while in other depart.
ments. orders are not received because
the future is distrusted.
The effect on the great industries has
been less thus far than might have
been feared, as most of the works are
employed on orders booked before the
trouble began. but many works are
now reducing the number of hands
and others must soon suspend opera
tions unless the prospect becomes
clearer. In the iron business no inn
provemenr is perceptible, and pig is as
low as ever, and while finished pro-
ducts are still in fair demand, prices
are extremely low. 1t is thought the
closing of some works will reduce the
output Of pig considerably.
n Accounts from other cities nearly all
show that the monetary pressure af-
fects trace materially and that collec-
tons are slow and banks extremely
crutious in leading, even where they
are strongly fortified.
At st. Louis the freight movement
is gratifying in character and the vol
ume Of business fair for the season.
Preparations are making for an active
fall trade, especially in shoes. Banks
are accommodating customers in all
regular business, but refusing speed
| lators.
At Atlanta trade is fair for the sea.
son, but collections slow and money
| very close.
At Mobile trade is fair and the pros.
poets favored by the weather, but
money is tight. and at Charleston trade
in groceries is fair, but other trades
dull.
! The state of foreign trade is not yet
satisfactory, for the export of pro-
ducts falls below last yearAs at New
York, in June, thus far So Doc, 900 or
about IA per cent, while TIN imports
are still somewhat larger thal a yeas
ago.
The failures for the week Number
for the United States 273 dnd for
Canada ia total Of 2S7 against 347
last week and 100 for the s,rlespn"l-
ing week last year.