Baxter Springs news. [volume] (Baxter Springs, Kan.) 1882-1919, 1893-08-12
GROWING BRIGHTER.


Dun's Weekly Review Shows n More
Healthy Condition In the Money Mar
ket.
NEW York, Aug. 5.-R. G. Dun & Co.'S
weekly review of trade says:
Decentralization in speculative markets has
been followed BY q more healthy tone In
money markets there has come singular sense
OF relief, Notwithstanding actual increase 10
present embarrassments almost amounting 10
paralysis OF exchange between the chief COM
mercial cities, and Of many industrial works
because even ~ per cent. premium for currency
fails to secure what is needed for payment OF
wages Hopes are nevertheless fixed on the
ships bringing over Oil ,00O.00) gold across the
sea and ON the extra session Of congress which
will begin on Monday Several OF the largest
and boldest operators At Chicago have been
crushed under pork barrels, but the instant In
crease OF foreign purchases conyinces the mar
kets that the disaster has brought certain
measures OF relief.
The monetary stSingency which at lass
crushed speculations in wheat and hog prod
ucts, had been caused in part by their preven'
ton OF exports and their absorption OF enor'
NOUS CO pital in carrying unprecedented stocks
Of products, which, II sold In time TO foreign
consumers, would have brought gold enough TO
prevent much evil Wheat has recovered
about 10 and pork s. or more ut Chicago. and
orders for exports have caused sudden ad'
vance In ocean freights. With the great sur
plus OF wheat brought over from previous
years, the country will be able TO meet I'LL de-
mands, even though the crop proves small
enough to Justify considerable advance from
previous prices With great crop OF corn al
most rs surely, unusual Accommodations OF PORK
and hog product would be safer Oh the ocean
than in Chicago warehouses and more helpful
TO the country.
Stocks Ut the lowest point this week aver
aged little more than 81 per share, but II 10
yet long way down to the prices OF 1871. aver
aging ut the lowest S.3 per share, and the con-
trast between the condition and earnings OF
railroads now and then is greater than the dlf-
ference In prices In anxious efforts TO fortify
themselves banks throughout the country have
locked up large amount OF currency, and the
depositors who have drawn their accounts are
also keeping out OF use many millions. As the
entire circulation Of bills OF less than - each Is
but s5j, 0ol 90, while the depositors in savings
banks number nearly 5,0Oj,OOO, the withdrawal,
or the mere Withholding OF accustomed uepos
its by considerable proportion Of them With
draws from the market much OF the Snail
notes
The demand for these have been so great that
bnlpmeutS Oh SllNcE uhSc III many SooOS DSSs
gladly received and the difficulty OF getting
currency for paying employees caused pre-
MUM for currency in many cases ranging as
high as , per cent
Closing OF shops and works for lack Of
orders is the overshadowing fact Sales OF
wool are not third Of last years and since
the new clip the decrease has been a 97J,'s4
pounds or about 10 per cent Prices are weak
and yet SO low that decline seems unlikely.
The Carnegie and some other iron works have
almost cease producing. In boot and shoe
shops the situation is nearly the same, eastern
shipments falling OF about quarter
Gold imports may help to revive the credits
upon which great share OF business depends.
The volume OF domestic trade, indicated by
railway earnings Is but per cent. smaller
than last year. While the failures for the week
number 49, against 100 last year, great pro-
portion Of them are ut the west and II IL cheer
ing to note that comparatively few OF impor'
lance occur except In connection with speculat.
i've operations.
Failures during the week number 436 IN the
United States against 100 last year and thirty
four in Canada against twenty-four last year.
There were three failures OF q million or more,
two at Chicago due TO the break In the pork
deal, and one in New York city.