The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1893-08-05
WEEKLY TRADE REVIEW.

r. G. Dun CO. Report that . Hast
|. Week stiii Leaves the Business World
Able to Rejoice In Hts Soundne.s and
s'rcngth-Monry Generally eight, But
the Disturbance Less than Had Been
Feared-F Failures for the Week, Etc.
NEW YORK. July 29.-R. G. Dun a
20. S weekly review Of trade, published
this morning, says:
! The hardcst week has left the business
| world still able to rejoice IA the soundness and
strength disclosed Prices Of stocks wers
greatly depressed Tuesday and wednesday,
closing lower than any other day since Janu-
ary, ls'9 and the fall on Wednesday averaged
over s. per share. and yet only two failures re-
| suited. and those OF brokers' not especially i'm
! portant A sharp rally followed on Thurs lay.
with buying from London by shorts and espe-
ciaily significant buying by small investors. Nc
banks here or at other eastern cities and no
| eastern firms OF large importance have go1e
| down, but numerous banks failed ut the west,
including some OF repute and large business.
| The Erie was again pla ced in the hands Of q
receiver, though for eight months OF the fiscal
year the net earnings Of the company have
tecn larger than last years. And other roads
reporting are generally equal to last years.
Money became stringent again with the do
! preston in stocks, and the drain to assist
other cities has been heavy but through all
without trouble. and imports OF gold have COM
menced From ~ ,Ool0OO to g 01O,O0J in money
has been sent west every day. and o large de-
crease In bank reserves Is expected. as the
treasury has not been disbursing heavily. Few
commercial loans have been negotiated and at
high rates.
AT other cities the money markets have been
quite close, but bank failures at Milwaukee. In
diannpois and Louisville have caused less dis
turUauce than might have heen feared
The treasury purchases silver sparingfy, and
the exports OF that metal have been large Ex-
changes between this city and Philadelphia
have been especially disturbed. but banks Of
the latter city continue to supply customers as
well as they can. Chicago has drawn heavily
on New York. Tut in that and other cities the
bank statements indicate a creditable sound
ness.
Grain rose briskly on Monday. but all specu-
lative markets yielded little when tight
money came and the slaughter OF stocks.
Wheat closed about cent lower. though west
crn receipts were moderate. Corn Is q frac-
tion lower, and also some hog products Cot
ton has declined an eighth. though receipts are
little larger and exports smaller than last
year. but holders show great stubbornness in
view Of the large stocks in sight and the clos
ing OF many mills.
In other products no special change Is re-
ported. though prices tend lower. Many wooden
factories are closing for q month or more or In
definitely. because orders are slack, for while
jobbers' orders are about as usual, clothiers
still hold of. Fall trade is said TO be not more
than third Of the usual size. and many deal
ers expect to do no more than half the usual
business.
Dry goods are easy in tone. Fall cottons
though half cent lower than last year In
price and exceedingly attractive. meet but
moderate demand and print cloths are weaker
at 30 cents The knit goods business Is some
what better. Sales of wool at the chief
markets last week were es14 900 pounds against
s.ii0 900 last year. and for three months and .
half 4. $40, s61. against 20 1880 1870 last year.
Orders for boots and shoes are restricted.
have closed. and shipments from the east are
year.
The iron business grows less activ'. and in
spite OF past decrease in output the demanI
does not equal the supply, so that four large
furnaces at Pittsburgh are expected to close.
Bar is weak and has been sold at si5S Plates
are in narrow demand. and structural iron Is
irregular. with beams down to si.s0- OF steel
bars 1000 tons were sold to agricultural impla-
ment makers at Chicago
The business failures for the last seven days
number 55s in the United States and g in
Canada. II is noteworthy that only three fall
ures were OF capital above se0OO00 each and
only nincty-ninc OF capital over f5.0o. Over
fifty banks stopped during the week. but nearly
all were At the west. Last week the failures
in the United States numbered 457 and the pre-
yious week 354