The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-05-11
Wholesalers Revise Their Lists of
Credits and Prices Still Tend
Downward.
No Lasting Bad Results Are Elk
peoted From the Wall Street
'So% Panic.
bad Weather in Almost All Sections Re
tards Trade-Reports From y Large
Number of Places.

~ A0NoA VNADVN ~ she W S~A sN
are willing to grant, and in other ways pre-
pared for squalls. Tho general tendency O
prices of commodities In all lines continue
downward. Bessemsr pig and billets beinl
Of 5OGI75 each. After Thursday's liquida
sion In Wall street ths panic seemed wo,se
and on Friday loans were called right an,
left. and lenders Of money became nervou
and moro gloomy az to tho prospect. bu
prices advanced later. The situation Il
Wall street Friday was felt to be NOR
severe in its effects here than the Barring
panic of 1880. because of the lack Of q buy
inR. interest. due to the general fear a. Il
the sherman law. Bank olearinRs aGgre.
gate "a, 91s, 900. 600 for April, three per cen'
less than in April, 1892, and only az pei
cent more than in April. 1891, and only 1t
per esnt more thar in April. 1890. The
total of bank clearincs for four months
amounted TO $21, pa, 600. 900. only a nominal
increase over tho like total a year ago. less
than one-half Of one per cent.
There were 248 business failures this
week. against 206 last week, about eighty
mere than were reported in like weeks in
1897, 1891 and 1890. Exports Of wheat from
both coasts Of the United States aggregate
~ StO,VOO A0AO bui0 W9oAS q bIlu0 AIO10
than the quantity sent out last week. but
225. 900 bushels loss than the week before
that. In the drst week of May. 1892, like
exports aggregated 1000. 600 bushels. but in
similar weeks in three preceding years the
totals were smaller than in the current
week. 6tooks Of available wheat in the
United States and Canada decreased 9.OOO,-
600 bushels during April, but increased
3,0OO.0 600 bushels afloat for Europe and in
Europe. leaving a total mes decrease here,
afoat for Europe and in Europe during
April Of about {. 0OO. 600 bushels. about one
third the decrease in April, 1892.
The New York stock market has passed
through . severe panic in the industrial
stocks. Tbs collapse Of the Cordage speou-
lation and the reoeivership of the corpora
tion are only typical of the extreme nerv-
continuance Of the Sherman silver law and
the financial distrust which finds expression
on oil sides. Tn heavy failures in Wall
street are dus to operations in the blind
pool "industrials," all Of which have suf-
fered excessive declines. and now Seem in
clinsd to rally on the clearing of the atmos.
phere which succeeds such events. The
railroad share liat has suffered only to q
comparatively slight degree. the discrimina-
tion against such collateral being confined
to cases where imitation is known to exist.
London has bought stocks heavily on the
decline, its operations breaking exchange
rates to a figure which utterly precludes
gold shipments.
Larger eastern oenters continue the IN
favorable reports which became conspicuous
last week, with the exception Of the advance
in boot and shoe prices at boston, with de-
mand improving. The weather continues
to depress the wholesale dry goods trade.
and the movement is further interrupted.
Wool is moving slowly. and manufacturers.
anticipating plentiful supplies, are buying
with extreme caution. At Philadelphia
woolens as well as wool are dull. with the
outlook for a full supply at probably lower
prices. There. as throughout the country,
sales of building materials, paints and lum-
Ter have been retarded by the unseasonabls
weather; petroleum is more active, and
holders OF Havana tobacco have not been
pushing sales, believing the threatened
Cuban instruction would enhance prices.
AT Baltimore cold, wet weather has
greatly retarded the movement Of
goods from the hands of retailers and this
has reacted on jobbers. so that Wholesale
trade fos the season is practically ended.
At Pittsburgh and other Pennsylvania iron
and steel centers the tendency of prices
continues downwa 4. Anthracite coal, too,
is dull at the reduction. General trade al
Buffalo is reported Of smaller volume.
General trade at Memphis. Nashville,
hlchmo and Charleston is a little bright
or within a day OF two. and sales of hard
ware, plantation supplies. shoes, building
materials and rice have been more active.
Further south. however, reports are less en-
couraaine:, Only the larger jobbinR con-
Germs at Atlanta are reporting collections
fairly satisfactory. and trade there is dull,
a. At savannah and birmingham. although
look is said to favor some
improvement. General trade at Now Or
leans is disappointing. and alarm is caused
by high water on Mississippi and Arkansas
rivers. Little Rock reports floods have af-
fected business unfavorably and done pom
siderable damage. especially to cotton. bat
1t 10 hoped the worst is past. Unfavorable
weather has exercised a depressing infu-
enoe in trads circles at Galveston, bat at
Dallas general trade thus far this year is
bo per cent heavier than last year. Crops
near that city have been improved by recent
rains. II is expected to demonstrate soon
that Trinity river is %navigable as far as
Dallas with the appearance OF q steamboat
there.
Az Louisville, where better weather has
spneared within a day Or two and farmers
have begun shipping products more frse,y
and are securing higher prices for them,
ana at Milwaukee,, whore building opera
tons have been resumed and a better re-
quest for staples has been felt by iobbers,
are to be found practically the only encour-
nRlnR reparts regarding trade from the west
and northwest. Continued cold weather
has checked the volume Of trade ut Cleys-
land. and no break has yet been made in
the struggle for supremacy between iron
ore consumers and holders Of the ores on
Cleveland docks. A very backward bust
ness is reported at Detroit. and even at
Chicago explanations are made that bad
country roads, u%nfavorablo weather. and
low prices for grain are behind the lndis-
position Of interior merchants to buy
freely.
Interior buyers have not made their np-
psarance at Chicago thus far as numerously
as expected, and there is q manifest dispo-
sltion among larger merchants there and
throughout the west to check operations,
owing to tho increased number of failures.
Aside from an advance on hogs OF 1Oc. Der
cwt., there is no change In the trade situa.
tion at Omaha. and the like Is true at Kan
sas City and st. Louis. st. Paul reports
that better weather within q few days has
raised the spirit of traders somewhat. but
business there. as at Duluth md Minneapo-
lib, continues much restricted BY the back
~a'dness OF the seaeon. San Francisco
wltes teat hot winds have prevailed in the
San Jose valley for ten DAYS, which will
materially reduce wheat production there.
In the Canadian dominion the unfavora-
bic weather has exercised nm influence Sim
iiar TO thar noted in the United States ana
conslderabiy reduced the general volume of
trnoe In nearly all lines. Montreal. how
eVer' hopes Tor an early improvement in
nusiness due to the opening of navigation.
The province OF Onta!i 10 anticipates partic- |
ipatinR in the reopeninQ of tho sxnortt,ads
from the dominion by shining oattIo
abroad unless the embargo interfeIes.
Country collections are generally yery hock.
Werd. Trade in awfnnpdIona 4, an =.