The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1893-12-16
MONEY AND BUSINESS.

Review of the Condition of Commercial
and Financial Markets rs CoIlsted and
Prepared by X. q. Dun CO.-Trade
Continues In n Waiting Mood-Money
Plenty with Light Demand for Either
tieneral OF Speculative Business-Busi.
ness Failure for the Week, Etc.
NEw York, bec. s;--R. q. Dun &
Co. S weekly review of trade, issued IT,
day, says:
Trade OF all kinds Is waiting. There Is no
| visible improvement and on the whole the In
| d!cations are little less satisfactory than
| they were q Week ego. The -oluu;e OF business,
measured by clearinghouse returns outside 0t
New York. show n decrease OF only is per cent
compared with last year, which is encouraS-
| ing: but as the staten mt covers the payments
for the first of the month. II may not corrc :tly
measure the volume OF new transactions The
reports from the other cities show hesita-
ting trade almost everywhere, with decided
| Imposition TO wait until congress has acted on
the tariff question. Henc, the delay AMI I'M
certainty nrc likely 20 last for some weeks.
The speculative markets have not moved
much. In railroad stocks there has been
Slight decline Of fifty cents Per share. and In
tfus. stocks neafT't is rIUch. rithout much CT
citemeut in either market The Gales fa4e
been only n million shares. but reports in fe-
gard to the increase OF taxation OF sugar.
whisky and other products make whatever
market there is.
Railroad earninss are fairly encouraging. for
theJ sho-t decline OF only per cent. com
pared with last year and in freigh. earnings
the decrease is only per cent The eastern
roads continue TO show some gain and on the
southern roals there Is a small decrease, but
the decline on western roads is still heavy,
running from to 10 per cent, with even
larger declines in Pacific rOals.
Wheat has risen shade. The western ro-
ceipts were only 3,a57.2si bushels against
6 SOL, $50 for the same week last year; while the
exports from Atlantic ports were only is1i4
bushels against ls1l.i0J for the same week
last year. The receipts OF corn were unusually
large. amounting 10 3oa7.Tl lusbels against
2.fG6 fsl for the same week last year, and tho
stposts were 80 Ot5 bushels. against sT,Sw
last yeaI.
The movement OF cotton vas not eucOuray-.
Ing TO holders, and appearances indicate q
larger supply on plantations thln hal been e2-
pected. The receipts at the ports for the week
were 25s a0S bales, against 2l25l1 for the same
time last year; but the exports were lS9.s3
bales. against lfi.236 last year. The price de-
clined an eighth, with strong evidence that the
continued heavy receipts are wearyin- tho
holders. The cotton manufacture does better
than other branches At present and yet has
not very healthy appearance Tho demand
IA not strong and prices Of gool5 are barely
maintained The disposition 10 buy with great
raut nn and cbnhhe purchases to actual re-
quircnients Is more clearly unaffected than In
previTuc weeks.
IN wOolcn goods the sense OF disappOlnt-
lncnt is very clear and thetc sGerfis no reason
to expect any decided recovery until congress
has acted on the tariff question. Several
works have stopped production during the
week and others are running only to I'LL or
dcrs which will soon he exhausted No quota
bic change is noted in prices. but the sales OF
l for fhn harn hoo Onl =
pounds against i.759 500 for the corresponding
week last year. This demand for speculative
purposes continues, and a considerable proper
tioa OF the sales are OF that character
In the Iron and steel manufacture there are
symptoms uf Improvement. The eastern mar
kcts are waiting, and while one company has
gone in the market rs speculative buyer,
taking about is.OoO tons IL is said, and there
have been large purchases Of pipe iron also.
the general tone Of the market Is not i'm
proved. There Is n feeling that the new steel
rail com linatiOn will result in decided de-
crease in the demand for rails and also for
pig iron: a.1l ii Philadelphia and Pittsburgh
no improvement in prices is seen.
Copper is somewhat stronger, with f0'i bid,
and the evidence OF combination of pro-
ducers accumulate Lead has remained un-
changed in price and in tin prices have been
almost stationary.
The prospect of 4 renewal OF gold exports
Causes no great tNCittll'nl IN ilr StTtel. as lLc
banks now hold so large stock OF gold on
hand that really heavy loss would not cause
them any embarrassment Yet it Is felt that
any Outgo Of gold at this time would be evidence
that EUROPE has been selling q large amount Of
securities in this market. AMI there il feel
In. that such sales may easily be pushed far
enough t. cause serious disaster. The bank
Reserves amounting to sl9S;OOOu. are the
largest eyer known. and thefc is a feeling that
tn" accumulation OF lille money here is sOu1e
what dangerous to legitimate trade. hut as yet
there appears no Indication Of speculative cx-
citcment IN products o: in stOrk5
The Increase IN circulation during tho
month of November was about SO0.O1 al
though there demand for additional
currency IT, any Of the interior markets. and
the evidence is clear that the supply Of cur
rcncy is far in excess Of the needs OF business.
The failures for the week number $50 in
the United States. against .7l for the CORE
spending week last year; and l. in Canada
against 36 last year.