The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1893-06-23
WEEKLY REVIEW


the Country. Prepared by H. q. Dun
q Co.-The Monetary situation stils I'M
settled, Hut tho Keen Edge ~ the FIX
element Wearing On-A Conservative
Feeling Pervadrs business Circles Fall
ures for the Week. Etc.
NEW York, June l7.--R. q. Dun y
Co. s weekly review OF trade. published
this morning. says:
Concerted action hy the banks OF New York
has changed the situation materially. Moro
failures and tremendous drain OF money 10
the west had such effect that the banks were
unanimous In deciding upon the issue OF clear
ing house certificates. but as u precautionary
measure 10 prevent trouble rather than because
the rscncy OF the trouble ma IL II necessary.
Increased accommodations for the bust.
ness community are expected 10 result ana
doubtless will. unless speculation Is stiinu-
lated TO absorb all the increase IN available re-
sources through undue preference for market
ablc securities over other assets The excite
ment at Chicago and Milwaukee has nbated.
hut the weakness OF hanks at many western
points continues. ana the character OF tho
failures reported indicates that widespread
stringcncy Is having serious effect
upon merchants and manufacturers who
are In 10 way connected with spec
ulatyc operations. A very sharp fall In
\ foreign exchange removes the chance OF gold
export at present, hut IS due To foreign pur-
chases OF securities rather than to change in
trade balances. Exports in two weeks or June.
II Is true, are but E. 7OoVp, or II per cent be-
low last year. and imports show small de-
crease instead OF the enorin Gus increase re-
\ ported for months but balances are still adj
verse and likely to 10 for some time. The Gc-
cline in prices has led to some increase in the
foreign demand for products hut has been fol-
lowed during the past week by an advance OF
more than cent in wheat with sales Of only
81 Ooo.OD bushels. 2is cents In corn. and three
sixteenths in cotton with sales OF $4,000 bales
\ Pork has fallen cents and coffee has fallen
cent. hut without any material increase IN ex-
ports. Wheat receipts are still large. ana nc
counts OF the growing crops decidedly more ~
corahle from the northwest Tut coaiii, ting as
to cotton.
The output Of pig iron declined 7.5s2 tons
weekly in May. and Is scarcely larger than
year ago. Stocks on hand declined 1900 tons
In the month but further reductions OF output
IS in progress. The market for iron ard its
products remains dnll and unsatisfactory Bar
T. especially weak. ard southern pig much de-
pressed for sale. Tin has advanced Gj cents
per 100 pounds. hut copper has sold at l0a
cents for Lake. and lead at 37J The demand
for boots and shoes is less than usual, but ship
ments are still ABOUT large year ago.
The market for wool is again much depressed:
al Boston about cent and sales wcrs only 81
800 pounds against si5 ND the same week last
year. The decrease NJ all principal markets
for tina year thus far Is II per cent
About hall the spring lines 81 woolens have been
opened. and while the tone is healthy. the orders
obtained are generally smaller than usual. No
new business is reported in dress goods. but
the great sale Of 5000 rolls Of carpet was a
noteworthy success though prices were rather
lower than December. Cotton goods are quiet.
though there Is some talk OF reduction in
prices. but print cloths are steady Reports
from other cities nearly all show tight money
ISL rp1 lstf ions he 81 : a
money in a few southern cities like Charleston
and Mobile. and at New Orleans money Is liz
good demand. hut fair supply, while az Knox
Vile the demand l. smaller. Collections are
fair at Baltimore Detroit and Nashville.
AVERAGE at Knoxville ana good at Omaha. but
low at other points reporting. The volume Of
business has been much affected hy the pre-
vailing stringcncy and caution about credits.
Al Boston sellers are very conservative. the
dry goods trade T. moderate though cotton
mills are IN good shape with small surplus
stocks. Woocns quiet. orders for shoes
come in slowly ana large sales OF leather are
reported al low prices Philadelphia reports
quiet or dull trade In most lines. a slirht IN
crease in paints and glass improved retail
trade in dry goods and groceries and IN cx
pectcd advance in coal July l. Retail trade AZ
Baltimore is quite fair. but wholesale trade
quiet. Iron and its products are weaker
at Pittsburgh, and strike Is cx
peetcd the workers demanding last
years wages. Trade at Cleveland is fairly
good aud at Cincinnati quiet hut fair
in machinery and foundry work. Al Detroit
trade Il quiet aud credits closely scanned anc
at INDIANAPOLIS there L. = otter feeling. Chi
cago reports an easter financial Situation, hu
western demands ur,ent cole, tiuns very
slow: speculation limited IN volume; uildin-
Per cent smaller than last year: wholesale
trade fairly satisfactory. aud retail trade i'm
proved Receipts OF nearly all products ar
smaller thnn year ago. Milwaukee reports
confidence slowly returning, hankcrs as
sistinx the interior an iohhcrs yer,
cautious. At IT. Paul excellent crol
prospects make more hopefn
feeling and az Omaha trade Is good. at karsa
City fair. considering the state % finances. ~
81. Joseph fair with good fan orders for Dir.
goods. At st. Louis trade Is 'cyonl antiipa
tons and not affected hy the stringcncy. A
all southern points trade IL Slow or quiet
though at Atlanta and Mobile satisfactor,
trade Is reported The market for stocks ha
hccn stronger during The week through III
advance has averaged less than half dolln
per share and the demand for money has ad
vancci notes on call quite sharply
The failures for the week numncr 3i3 in tn
: United states. against 1873 for the SAM wcel
last year. ana "a Ia Canada, against 20 last
\ year.