Iuka reporter. (Iuka, Miss.) 1888-1894, 1893-07-27
TRADE REVIEW.
Condition and General Outlook o.
The Prospects of the Country.

Condition and General Outlook o.
The Prospects of the Country.
Il. G. Dun Il Co.'S weekly review
of trade says:
This week the country has withstood
surprisingly well an extraordinary
strain. The failure Of many banks
and firms, Of a great iron syndicate
and other companies, the remarkable
fall in stocks and the closing Of some
important manufacturing establish
ments, have come in spite Of real relax.
alton ip eastern and some western and
southern money markets. The Den
yer banks were overthrown largely by
the crazy unwisdom Of the pople, and
several in Kansas have gone down,
but in most cities the statements lust
published show the banks in healthy
condition, and there has since been
noticed more readiness to extend &C.
commodation. The great depression
in stocks came at time when easier
money, some return of currency from
the interior and the beginning Of gold
imports from Europe made many
hopeful. The closing of many manu-
featuring establishments is the newt
able result of the great shrinkage in
orders for some time past and the un-
certainty regarding the departments
also contributed to check revivimg
hopes. Under all conditions it is as
tonishing that business has been SO
we'll maintained with SO little evidence
Of unsoundness. Even while cotton
and wooden mills were working over
time on past orders, scantiness of new
orders were noticed and great frequen-
cy Of cancellations. Close observers
also saw evidence of decreasing distri-
button to consumers, SO that dealers
were left with part of their stocks UNI
sold, and wholesale dealers found less
encouragement to buy. Steady in
crease in this state of things has
brought such well-known mills as
Amoskeag cotton and Clater wooden
and many other textile and shoe works
to stop operations for the time, until
the prospects is clearer.
In dry goods cancellations are still
numerous. Sales of mems woolens
are not commensurate with stocks pre-
pared, and orders are small and MAIN
ly for low grade goods. Some i'm
provements Is seen in dress goods,
bnt cottons are dull and print cloths
and brown goods lower.
Stagnation in iron closes some mag
netite mines in this state and New
Jersey, and most of the mines in
Michigan, so that the lake region has
never been more depressed. Coke is
moving downward, pig iron is mac
tive, and though dealings in bar and
structural products are somewhat lar
ger, prices are the lowest ever known.
Western iron interest fails as yet to
agree with men about wages, and
more works are suspending operation.
Baltimore notes some improvement
in dry goods and active trade in fruits
and vegetables. An easier feeling
prevails at Pittsburg in iron, the glass
works being closed for the summer.
The Cincinnati money market is easier.
st. Louis reports business good in vol
ume and character, but trade checked
by the closeness of money, the banks
terrifying themselves. Money is
tight at Little Rock, but tho strain is
borne remarkably well. At Nashville
trade is fair, at Atlanta backward, at
Macon better demand Is seen, at
Augusta retail trade is fair and at
Columbus business is shade poorer.
New Orleans finds trade somewhat
improved, with banks very conserva-
tive, sugar weak and the crop pros
poets excellent. At Galveston the
crop reports are less encouraging,
but at Mobile better. At Jacksonville
credits are cautious, and at Charleston
. marked improvement 10 seen in soma
trades, though crop products are poor.
The treasury has been paying gold to
bsnks, but on the whole increasing ito
holdings. Exports Of products are q
little larger than u year ago, but i'm
ports are also large. Failures during
the past week number 467 in tue
United States, against 1853 last year,
and 20 in Canada, against 10.