Iron County register., 1893-08-03
WEEKLY TRADE REVIEW.

| II. G. Dun d Co. Report that n Hard
Week Still Leaves the Business World
| Able 20 Rejoice In It's SOundnees and
Strength-Money Generally eight, hut
the Disturbance Less than Had Been
| Eeared-Failures for the Week. Etc.
! New YORK, July S9.-R. G. Dun a
Co. s weekly review VI trade, publishets
this morning, says:
The hardest week has left the businese
world still able to rejoice in the soundness and
| strength disclosed. Prices o! stocks vert
| greatly depressed Tuesday and Wednesday,
| closing lower than any other day since Janu--
| airy, 1879. and the fall on Wednesday averaged
ever g per share. and yet only two failures re-
suited, and those OF brokers not especially Inn.
| por:ant A sharp rally followed on Thursday,
| with buying from London by shorts and espe-
ciaily significant buying by small investors. No
banks here or at other eastern cities and no.
eastern firms of large Importance have gonet
down, but numerous banks failed at the west,
including some of repute and large business.
The Erie was again placed in the hands OF q
receiver though for eight months OF the fiscal
year the net earnings OF the company have
been larger than last years. And other roads
reporting generally equal to last years.
Money became stringent again with the de-
preston in stocks and the drain to assist
other cities has been heavy but through all
the strain the banks of New York have passed
without trouble. and imports Of gold have COM
mencee. From 81 .O01.O00 to e, 900 in money
has been sent west every day, and large de-
crease in bank reserves is expected, as the
treasury has not been disbursing heavily. Few
commercial loans have been negotiated and at
high rates.
At other cities the money markets have been
quite close, but bank failures at Milwaukee, In
dianapolis and Louisville have caused less dis
turbance than might have been feared.
The treasury purchases silver sparingly. end
the exports OF that metal have been large. Ex-
changes between this city and Philadelphia :
1,S H44y, toll ictr,~ ~hnA h,t hnn NJ
the latter city continue to supply customers as
we'll as they can. Chicago has drawn heavily
on New York. but in that and other cities the
bank statements indicate crecitable sound
ness.
Grain rose briskly on Monday. but all specu-
1ative markets yielded a little when tight
money came and the slaughter OF stocks
Wheat closed about cent lower. though west
ern receipts were moderate. Corn Is frac-
tion lower. and also some hog products. Cot
ton has declined an eighth, though receipts are
little larger and exports smaller than last
year, but holders show great stubbornness in ,
view OF the large stocks in sight and the clos
ing of many mills
In other products no special change is re-
ported. though prices tend lower. Many WOODEN
factories closing for a month or more or in
definitely because orders are slack, Tor whlie e
jobbers' orders are about as usual, clothiers
still hold on Fall trade is said to be not more
than a third Of the usual size. and many deal.
expect to do no more than half the usual
business.
Dry goods are easy in tone. Fall cottonsS@
though half a cent lower than last year in
price and exceedingly attractive. meet bat .
moderate demand and print cloths are weaker
at 90 cents. The knit goods business is some
what better. Sales OF wool at the chief
markets last week were 2.214. 900 pounds against
s,14O,O0O last year. and for three months and q =
half AZ $40 7e1. against sc, $50 l3O last year.
Orders for boots and shoes are restricted.
many shops running short time, while others
have closed. and shipments from the east are
l3 per cent. less than for the same week last
year.
Tie iron business grows less active. and In
spite of past decrease in output the demand
does not equal the supply, so that four large
furnaces at Pittsburgh are expected to close.
Bar is weak. and has been sold at sl.55. Plates
are in narrow demand, and structural iron is
irregular with beams down to SlSO or steel
bars 2s .OOO tons were sold to agricultural imple-
ment makers at Chicago.
The business failures for the last seven days
number 37S in the United States and 2s in
Canada. 1t is noteworthy that only three fail
urnt were of capital above 100000 each and
only ninety nine of capital over 5000 Over
fifty banks stopped during the week, but nearly
all were at the west. Last week the failures.
in the United States numbered 457 and the pre-.
vious week 354.