Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1893-07-27
MONEY AND BUSINESS.

Reflection of the Condition of Trade and
Finance Throughout the Country by
the Medium of II. G. Dun G. Co.'s Week.
~ Review-The Monetary Strain Gem
orally Well Met, Though Some Disasters
Have Occured-Rusiness Failures, Etc.
New YORK, July 22.-R. G. Dun &
Co.'S weekly review of trade, published
this morning, says:
This week the country has withstood surpris.
tngly well an extraordinary strain. The fail
ure of many banks and firms, of O great iron
syndicate and oil companies, the remarkable
fall in stocks and the closing OF some 1mpor'
tant manufacturing establishments have come
in spite of relaxation of eastern and some
southern money markets. Denver banks were
overthrow last Monday by the crazy, unw1s-
dom of the people. and several in Kansas have
gone down. but in most cities the statements
just published show the banks in healthy con-
dition. and there has since been noticed more
readiness to extend accommodation. The
great depression in stocks came at time
when easier money, some return of currency
from the interior and beginning OF gold i'm
ports from Europe, made many hopeful. The
closing of many manufacturing establishments
is the inevitable result of great shrinkage in
orders for some time past and uncertainty re-
yarding the future.
Gloomy reports by the department also con-
tributed to check retiving hopes Under all
the conditions it is astonishing that business
has been so well maintained with so little evil
dence of unSoundness.
Even while cotton and wooden mills were
working overtime past orders, the scanti-
ness OF new orders was noticed and the great
frequency of cancellations. Close observers
also saw evidence OF decreasing distribution
to consumers, SO that dealers were left with
part of their stocks unsold. and wholesale
dealers found less encouragement to buy. The
steady increase in this state of things has
brought such well-known mills as the Amos
keag cotton and Slater wooden and many tex
tile and shoe works to stop operations for q
time until the prospect is clearer.
In dry goods cancellations are still numer-
GUS: sales of mems woolens are not common
surate with stocks prepared. and orders small
and mainly for low-grade goods. Some i'm
proveu1ent is seen in dress goods but cottonS
are dull and brown goods lower. Sales OF wool
are remarkably small, and shipments OF shoes
fall far behind last year.
Purchases Of tin are moderate and prices
lower and 1O14 cents is reported for Lake cop
per, while lead is weaker at SO cents.
Wheat has fallen cents; corn cent. Pork
products and oil are lower. In place OF an ex-
pected advance in sugar q decline has come,
and corn, after some advance. recedeS again.
Western receipts of wheat are moderate and
exports fairly large, but unpr ecedented stocks
press for sale.
The stock market closed last week hopefully,
but by Wednesday had reached the lowest av
erage of prices since 1884. London and short
sellers then bought, and some recovery has fol-
lowed.
The treasury has been paying gold to the
banks. but on the whole increasing Its hold.
ings. Exports of products are q little larger
than a year ago, but imports are also lar re. =
The business failures during the past seven
days number, for the United States. 462.
against 16S for the corresponding week OF
last year. and p in Canada. IA gainst 10 for the
corresponding we elk OF last year. two of the
failures being of capital exceeding S5O00i0 and
100000: others of capital exceeding 5000
Last week the failures in the United States
numbered 314. and the previous week 32t.
During the week ended the Goth leading
exchanges amounting to 1919 AS, 23i against
1000 1906. the previous week. AS compared
with the corresponding week of 1892. the de-
crease Ill per cent. OF the total amount
the six leading cities reported as follows: New
York S56l 555,3S4: Chicago. S7a So. 6'i3 Boston,
S5166,76i: Philadelphia. S67 4.7 .?6i: st. Louis
Sl9,1l1. All. and San Francisco. S12, &c. C68.