The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-06-10
DUN&CO.'S WEEKLYREVIEW
Opinion from Wall Street on the Trade
Situation in This Country.
Alleged that There Has Been Recovery Over
the Depression Of Week Ago in the
Face of Failures Numbering 422

NEW YORK. June Or. g. Dun e. Co.'S
weekly review of trade says: The severe
depression OF q week ago. which eliminated
in very tight money and numerous failures
has been followed by some recovery. Re-
ports that definite action by Congress on
the money question has been assured have
done much TO cause tho better feeling. But
the stringeney at Chicago and elsewhere
has forced realizing on the unprecedented
stocks of wheat. SO that the lowest prices
ever known have been made here and AZ
the West. This has helped exports. and in
other respects monetary conditions are dis
tinctly more favorable. A radical change
In underlying conditions has oc.
Cured. There is more helpfulness and
some recovery from the extreme
contraction of credit. Al Philadelphia
banks are holding money cautiously.
There Is rather more business In iron. but
at very low prices. At Cleveland trade 10
fairly good. but money close. At Cincin-
natl trade improves and money is active,
but collections slow. At indianapolis the
grocery trade is better and at Detroit trade
is only fair and banks are calling in loans
Chicago reports trade orders satisfactory.
Banks are considered safe. but are pursue
ing q very conservative policy. Receiptsin.
in cattle. 10 in hides, "a In butter. 10 IN
sheep. so in oats, 100 In wheat and 10 in
corn. but decrease is per cent in Hour.
20 In barley and dressed beef,
% In rye. IS in cheese, 90 In
hogs and lard. 20 In pork and seeds and
80 in cured meats. Excitement 10 sub
siding in Milwaukee. Trade at Minneap-
oils and st. Paul is fairly active and tho
lum Der trade strong. with crops poor AZ
st. Louis.banks sre calling loans. but job
a
much improved. At Louisville trade Is rs.
strIcted, with money very close.
Wheat has gone below Tic here and $50 at
Chicago. receipts being 400. 600 bushels and
exports 100000 bushels. Corn has fallen 20,
with large receipts; oats lie. pork Sl.s6 per
barrel. lard ESQ and hogs 10c per loo
pounds. But oil ia 524c stronger and coffee
unchanged. Cotton is q quarter higher.
on the surface, but lead is lower. at & 75c.
and q sale of o million pounds Lake oop-
per at lilo is reported. Iron is very dull az
New York and Philadelphia. and sales are
reported at overwhelmingly low prices at
Buffalo. Dealings in bar show great
anxiety for ordera Structural iron 10 dull.
and. while mills are well employed, all
prices are low and trade disheartening. In
wool sales are remarkably small. with q
lower tendency. In Iow-grade cottons
there has been some advance.
The financial outlook not helped by
foreign trade, as I'M ports continue heavy,
while exports are still below last years,
for the past two weeks moro than 10 per
cent. But the depression in stocks brought
in some foreign buyers, and prices have re-
covered on an average of Sl.50 per share
since a week ago. with railroad earnings
large. Foreign payments for securities
have helped exchange downward, and also
bills against several million bushels wheat
taken for export. SO that some bankers be-
Iieve tho rest of the summer may pass
without renewal of gold exports. The fall
ures the past week were 422 In number IN
the United States. against 16S for the same
week last year and twenty-seven in Cana
da. against twenty-four last year. Last
week the total number of failures was 259.