The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1893-07-29
MONEY AND BUSINESS.

Reelection OF the Condition Of Trade ana
Fina ce Throu yhout the Country by
the Medium of r. g. Dun q Cos Week
J ReSieu-The Monetary Strain Gem
orally Well Met, Though Some Disasters
Have Oceured-Business Failures, Etc.
NEw YORK, Jnly 2a--R. G. Dun q
Co. s weekly review of trade, published
this morning, says:
This week the country has withstood surpris-
ingly well an extraordinary strain The fail
ure OF many banks and firms, OF Q great iron
syndicate and oil companies. the remarkable
fall in stocks and the closing Of some impof-
tanf manufacturing establishments have come
IN spite OF relaxation OF eastern and some
southern money markets. Denver banks were
overthrown last Monday by the crazy. unvfs-
dom Of the people, and several in Kansas have
gone down. hut in most cities the statements
Just published show the banks In a healthy con-
dition. and there has since been noticed moro
readiness 10 extend accommodation. The
great depression in stocks came At o time
when easier money. some return OF currency
from the interior, and beginning Of gold i'm
ports from Europe, made many hopeful The
Closing OF many manufacturing establishments
Is the inevitable result OF great shrinkage In
orders for some time past and uncertainty rs-
garding the future
= Gloomy reports by the departmens also Con
tributed TO cheek revivins hopes. Under all
the conditions It is astonishing that business
has been so well maintained with 50 little evi-
delce OF unsoundness.
Even while cotton and wooden mills were
working overtime past orders. the scanti-
ness OF new orders was noticed and the great
frequency OF cancellations. Close Observers
also saw evidence Of decreasing distribution
to consumers. so that dealers were left with
part of their stocks unsold. and Wholesale
dealers found less encouragement to buy. The
steady increase in this state OF things has
brought such well-known mills as the Amos
kelS cotton and Slater woolen and many tex
tile and shoe works to stop operations for .
time until the prospect is clearer.
In dry goods cancellations are still numer-
Gus: sales Of mems woOlens arc not commen-
surate with stocks prepared. and orders small
and mainly for low-grade goods Some i'm
provement is seen In dress goods. but cottons
re-dull and brown goods lower. Sales Of wool
are rcmarkal ly small. and shipments OF shoes
fall far lehind last year.
Purchases OF tin are moderate and prices
lower. and IOii cents is reported for Lake cop
per. while lead is weaker at 36 cents.
Wheat has fallen , cents; corn I cent Porn
products and oil are lower. In place Of an ex-
pected advance in sugar a decline has come.
and corn after some advance. recedes again.
Western receipts Of wheat are moderate and
press for sale.
The stock market closed last week hopefully,
but by Wednesday had reached the lowest ay-
erage of prices since ISL London and short
sellers then bought and some recovery has fol-
lowed
The treasury has Lecn paying gold TO the
banks. hut on the whole Increasing Its hold
ings. Exports OF products are n little larger
than a year ago. hut imports are also lar ye. n
he business failures during the past seven
days number. for the United States. 46s.
against l6s for the corresponding week Of
last year. and = in Canada. a gninst 10 for the
corresponding we ek OF last year. two OF the
failures tcing Of capital exceeding 10000 and
$iO0GO: others of capital exceeding S.0)l
Last week the failures in the United States
numl cred 35i. and the previous week 3eL
During the week ended on the 20th leading
clearing houses in the United States reported
exy hIngeS amounting to s919. .iI5.2H, against
~ 0D.39o 6a1 the previous week. As compared
with the corresponding week Of ises. the de-
crease was Ill per cent or the total amount
the six lrading cities reported as follows: New
York. sa6D.555Ssi: Chicago. s.9sss.66 Boston.
$50. I66 16i; Philadelphia s67. .i1196;: st. Louis,
;I9 .ilI. and San Francisco. sls660O6S