The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1893-11-04
THE STATE OF TRADE.

cisI Affairs Throughout the Country as
Reelected Through X. G. Dui Cos
Weekly Review-The Number and Nag
nitudc of Failures PreeeptibIy Deeffs-
ing and Confidence GRADUALLY Returning.
NEW YORK, Oct 2S.-R. q. Dun &
Co. 5 weekly review of trade, issued To-
day, says:
Port is in sight after long and stormy 'S!
age. and the prospect OF speedy end Of ,he
struggle for repeal has trou hit bright hopes;r
business Stocks climbed rapidly for thee
days. hanks relaxed restraints, commercial
loans are more freely sought and made, and ~
ports from all quarters show the preyaleiee
OF 4 more hopeful feeling. This in itself tens
to produce some revival Of Consumption md
OF industry, which. nevertheless, has made but
moderate prdkress as yet II Is still too so,n
TO expect much eiect in trade and manuSs:-
lures, and though monetary obstacles ar" &C
n large extent removed there still remain
other legislative questions which create uhccr-
tainty. Opinion also differs as to the extent OF
improvement now to be expected after so
much doubt ana delay and loss. But the clear
iugs outside New York this week are not quite
u per cent. less than last year
The anticipation OF repeal and the happy mr..
ion of the Vanderbilt. Jersey City and LaGka-
wanna gave the stock market three happy
days in which stocks rose an average OF S.5)
anu fssp sh1ic- 1A-AL
the sales for the week have beea 2-s5OOG
shares. But on Thursday there came paIse-
Traders were taking profits. of course. but
more important fact was that London empted
about % 501.ODI worth OF stocks On the mar xet
rapidly. This indicated less confidence on
that side than had been anticipated in the re
operative virtue OF assured legislation. snd
coming SO soon after the Vanderbilt purchase.
suggested whether its effects upon tIunk-iine
and COal-carrying roads though obviously
encouraging. had been in all respects
apprehended This selling raised the
rate OF EXCHANGE in the face
of the announcement that $1,000 gold has been
shipped hIther the same day from London at
an operation which might have paid better in
prices obtained for stocks than in any other
way. A fac; OF real encouragement is that
railway earnings for the third week Of October
show an increase Of per cent over last year,
the first increase for n long time. Notwith-
standing the large sales the market continued
Unusually strong. In other speculative
markets. in spite OF monetary comfort and
bright prospects gains realized were small.
Wheat roses cents. though Atlantic exports
fell to l.l00.O0J bushels for the week against
l,gO,O0O bushels last year. in part because
western receipts were but $4,000 against
sgGO,0O last year. But corn declined an eighth
with letter reports OF yield. Coffee declined
three-sixteenths. Pork products made only
being D.OOO tales greater than last year
AS yet there Is seen only 4 continuance OF
the faint and slow increase in distribution
Of products, which has been noticed for some
weeks. Nor does even this gradual revival in
demand extend to all branches. Most OF the
increase yet seen In cotton and shoe manufac-
ture may be explained hy mere exhaustion in
stocks OF dealers as frequent requests for i'm
mediate delivery show: Tut there is also
ported by dealers a somewhat better demand
from consumers and four more cotton mills
have started and several increased their forces
against those stopping or decreasing.
similar demand has increased by sixty the
number Of hosiery and knit goods works re-
ported in operation The shipment Of shoes
from the east in four weeks OF October are .
per cent less than last year. against j. per cent
in September. but against eight comparatively
small wooden mills starting five have stopped.
including one OF 1900 and another OF
1000 hands. There is little sign of
increase in the demand for goods. The
recent demand for worsteds has subsided.
clothiers are doing hardly more than enough
to prepare samples. The total sales OF wool at
the chief markets. including several million
pounds believed TO be speculation. have been
900 ,la2 pounds in three weeks. against 2l.915-
no last year. Two additional iron furnaces
have gone into blast, and the output at the
south may be little larger than at the begin
Sumcd manufacture. apparently to provide for
future rather than present wants of their Gus
toners. and there is some addition to the num-
her Of rail and wire works and machine shops
employed. Bat the demand for most products
is small: steel Lillets are called hrmer at SO;
ship plates are delivered at Philadelphia yards
for sl6i. and TAR sells with decreasing demani
for Si.35 at Chicago 1t is hoped that monetary
ease and security may encourage railroad ex-
tensions and more architectural work. But
the shrinkage in demand is not wholly due to
the state of the money markets. Lake copper
is quoted Mt 33 cents I'm spite OF the sale OF
I.50J tons, and spelter is firmer only because OF
large purchases for export.
The New York banks still accumulate money
and commercial loans are more largely asked
and obtained. This enables merchants to take
goods out OF bond and may increase customs
receipts. which have amounted in twenty-five
days OF o, tober TO $40. sDs a9I against iI6 49,
559 for the full month last year. Apparently
the months decrease will be about -
per cent Internal revenue is probably
better maintained IN the same time al. .5Ge 900
against sIi.573.1ss for the same month last
year. The treasury gold fell to nearly 81 1906
200 hut has since risen more than a million,
pension payments decreasing.
The number and magnitude OF failures de.
creased less than has been expected the liza
biliiies in three weeks of October amounting
to sSl.10a ls0. against about 100000 for the
same weeks last year. This week there have
been ~ failures in the United States. against
~ last year and a In Canada. against 81 last
year