Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-03-11

The Tone OF Trade Continues To Be
Euoyant

\Ew losE March 10 r. 6. Dun 4
Co.'S weekly review ~ trade viii say:
business during the past week has been
a'sctesl ht TIE severe weather. but even
more by the stringrncy and uaceftainty
ln The moncy markets. Rates for money
have mounted from ~ on call 90 81 per
cent. and for two DAYS ruled above 10
Ter cent but the extreme pressure has
atated without any measure Il relief.
and IN the snnruncement that the treas
ar, department would not issue bonds.
tut would use the bullion reserve in
maintaining gold payments. Withdrawals
II money for the west and south have
nearly ceased: gold 10 the amount of
million was offered 10 the treasury in
exchange Tor legal tenders by the Bank
u Denver. and as much more by one
bank az Chicago and rates here became
easier.
There was some liquidation in stocks.
and none Of Importance In products. and
IL il evident that the restrain II exports
by speculation il an important cause az
monetary stringeney and of loss of gold
by the treasury.
The exports - wheat are small and
the prices declined a cent for the week
"A cent and oats nearly as much. while
pork was raised -.<jc. though lard and
hogs were lower.
In cotton an advance of one sixteenth
occurred an spite of the assurance that
th. British strike would not cease The
pressure ~ great stocks on hand caused
much selling. but the exports IL domes
tic products from New York last week
were only sj.sso.0oo. against s1.23OU0
last year. and 1onetafy stringency is
not improbable. while exports are arti-
ficiaiiy reduced.
In the stock market there has been
considerable depression. particularly in
stocks. on account of possible action IL
the authorities and in Reading the re-
ceiyers thus far have failed TO show the
actual condition ~ affairs. At Mil
waakc~ storms retarl tradr..and only
gilt-edgcl paper Is taken. \ fair in
crease j. seen in wholesale trade AZ ST
Louis With bright prospects for the
spring. Jobhing trade IL quiet al ST
Paul and heavy snow retards business
and collection there and at Minneapolis.
tut prices II lumber advance with good
trade. Iobbing trade IL increasing AT
Kansas City. and fair at Omaha, gener-
ally good AZ 81. Joseph. improving at
Dsnyer and quiet az Salt Lake
The output % iron March |. was 5.7777
weekly more than February. though L..
90 tons less than year ago Stocks
uEsold declined 200 tons durir = the
month. southern producers are weak
fning and 1000 tons II gray forge were
s'ald al :, al Birmingham. Bar iron is
az the lowest point. plates are cslt some
y hat less severely and rails dull while
structural works are still running full
time. hut with but few new orders. A
Numbering report regarding the, tin duty
depressed the price 10 - cents. but Il
afterwards ssese - ell. while copper j.
steady AZ l. for lake. aud leasl j. duh.
The coal market II steadiy nofwifh-
standing the collapse ~ the eombina-
f5on.
In fcota a.sd shoes small advance
is realized ia some grades. and
what hating appears in The market
= befause makers feel that
lessber must fall Shipments from
the east excred last years by
Il per cent Receipts ~ Texas
cattle AZ Caiesgo were the largest ever
known Tor the srason The textile mills
contioue fully empioyed. tho cioihsers
taxing frecly ani yet coaservatitcly
The business failures during the last
sescn DAYS number f1r the United
States l.ss Canada -. total -. as
c1eparei vith ~ las; 0sek. 81 the
week preVions - tie lasi and 20 Tor the
corresponding week n 'asf year