The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1893-07-06
WEEKLY TRADE REVIEW
r. @. Dun & Co. on the Condition OF the
Business Of the Country.

Business of the Country
NEW YORK, June 30-R. G. Dun u
Co. s weekly review of trade:
The closing OF the Indian minis
against silver. fall of silver bullion and
wheat, suspension of operations by
miners. have made the past week one
of unusual interest Up to the present
time domestic trade has not material
" changed, though increasingly re-
stricted by monetary uncertainties.
Closing of silver mines and smelling
works may loosen orders, but it ls be-
lieved only temporarily. Trade with
farming regions is expected to improve
with better crop prospects and larger
export demand.
Provisions are steady, but wheat at
Chicago is at the lowest price for 4O
years, though now generally held by
strong parties. St. Louis has fairly
active wholesale trade, some decrease
in collections and money only 10 mod
crate demand at to 8. Business
at Kansas City is fair, but
grain receipts very light. At
Denver business is moderate, col
1ections slow At New Orleans trade
is very dull, money tight and collec-
tions slow, with banks very conserva-
tive. The supply of money at Mobile
is ample for business, and Atlanta re-
ports trade satisfactory but money
tight. Charleston notes larger trade
than usual in dry goods, hardware and
shoes with poor collections Through
out the country, while collections are
slow and failures numerous, the con-
dition of legitimate business Is regard
ed as healthy and hopes are entertain
ed that the worst has passed. Their
hopes are mainly based on the be-
lief that the silver law will be repealed
and the certainty of its repeal will en-
courage foreign investment here.
Lower prices of produce also tend to-
ward increasing merchandise exports.
Wheat reached prices regarded as out
OF the question month ago and yet
the supply in sight is large, and re-
turns from the Northwest as to the
coming harvest is more favorable.
Corn is lower, with good crop pros
poets, and oats about cents lower.
Hog products declined 65 cents for
pork and 10 cents for lard, with in
creasing receipts of hogs.
Cotton, though most stubborny
supported, is 1-8 cent lower, stocks of
American here and abroad being
nearly $500 900 bales, though new cot
ton is but 60 days away. The state OF
foreign exchange indicates a willing
ness to send money hlther for loans or
vestments, but the Bank of Eng.
and, by changing the rate for gold,
shows a determination to resist ex-
ports to this country,
Merchandise imports continue heavy
while exports thus far in June fall
about A, 600, 200 behind the same month
last wear. The volume of domestic
trade shrinks considerably, and es-
pecially at the west Clearings In June
are about 10 per cent smaller than last
wear, the decrease at the west being
nearly 90 per cent. Business in iron
and steel products is remarkable de-
pressed and experienced observers
have pronounced the situation and
outlook the most unfavorable ever
known. The volume OF bust
ness is quite large, but al
the lowest prices on record. Trade in
woolens must be restricted and wait
ing for future developments. Neither
manufacturers nor merchants care tc
take risks which they can avoid. In
boots and shoes a somewhat generally
suspension of manufacture at the East
seems foreshadowed and while cottoI
mills are in good shape there is mucl
reluctance to enter into large engage
ment for the future.
Business failures the last seven day
We're 1884, For the quarter endln!
June 80, failures in the United State
number 3, 1919. against 2,l19 the seconC
quarter of 1892 For six months Q
1893 failures were 540l, against 800
same period in 1892, showing an in
crease of S0S. Total liabilities of al
the first six months of 1898, Sl6S. 900.
600; for same period lSyS' o SSS GOV