The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1893-08-18
DUN.s WEEKLY REVIEW.

Circles Not Yet AppS rent. aud the Failures
Continue The Root Of the Troahi~ tho
Withdrawal of Deposits from National
nanks-The Movement os Indust rial
Products Curtailest-An Eyes Turned
Toward Washington business Failures,
Etc.
NEW York. Aug. is.-R. q. Dun 4
Co. Is weekly review Of trade. published
this morning, says:
The long desired meeting OF congress with Q
pre- sidcnt's message which fully answered ex.
pectations. ana the arrival Of siss~,oo gold
from Europe with tio.cUO 900 more the way
have not Drought the improvement many an
ticipated. Stocks are stronger. but failures
eontinue and with the CLOSING OF industrial es-
Establishments idle hands multiply and silent
shops and the dtsorgan ization of domest ex.
changes Is even greater than a week ago. Yet
there II more hopeful spirit. though the ma
tion looks TO Washington with some impa-
thence where the senate seems disposed 70
rival the mills In working short time.
While statesmen consider mer, hants and
tankers and unemploy ed thousands anxiousy
wait knowing that the wrecks OF each passing
week makes the task OF recovery more din
cult There has been startling crash. but
the formal failures OF banks including one in
this city and several in Nashville number ~.
while refusals TO pay except through "A clear
inchouse or with limit atoms becoming
/ -'"''' iva ssF"VtSbs
Ia ..uml er. l.. 49,. - ...ii,,s as K H. Cole
man. the ''Ircn king" J II Walker Co. Of
Chicago. in dry sools aud II. l.. Hotchkiss. in
stocks. Whatever relief congress has power
To give may be loss fruit I'll for COOL II long de-
fcrred The ma. hincry 81 exchanges has al
most stopped. Whea 81 per si.Oi paid for
New York at Chicago and ais or 80 NJ other
western cities settlements between the east
and west. which ordinarily amount So" ooo.oo
In year. become extremely difficult Even
the New York Central could not get currency
here on checks OF the Boston & AlAany. and
was obliged to send To Boston for the money.
The root OF the trouble is that. according 10
reports of July IL to the comptroller. over $780,
ho0oo OF deposits had been withdrawn within
two months from part Of the national hanks.
aud probably si.sVoD.0Oo from ALL besides I'M
known sums from savings state and private
banks. and during the month since July ~. the
Withdrawals and boarding must be escn
greater. premium OF from 10 to l. per cent.
~ paid for gold and to per cent for cur
reney. The government is printing Al .soo0
baak notes daily. The clearinghouse has is
s5,0ODmJ more certificates and the hope is
that confidence may be restored and the hoard
iEgs unlocked.
The arrest Of Industry goes so far that o
third OF the iron production ceased in The
month o; july and the consumption OF iron In
manufacture diminished ~ psr cent. from May
10 July l. Not this shrinkagc sfiml-
lates demand enough to support prices. which
remain the lowest record and further stop
pages in August have reduced the weekly out
put below 10000 tons
Copper has declined to % cents and lead 10
3is cents. with narrow trade.
shoe shops are looking in vain for further
orders, and last weeks shipments from Boston
were IN, loo cases or - per cent less than those
OF the same week last year At Fall River alone
700 spindles stopped on saturday. and the
whole number OF spindles in all the southern
states is said 10 toe less than the number
idle in New England. Even more than la x OF
orders. want 81 confidence in the integrity OF
orders troubles the textile mills. for cancell.-
tions multiply. The Wamsutia has lowered
prices OF goods s., to .'er cent. while jobpers
ind better demand for dress goods
The sales OF wool nj the largest markets
were only $50. 5J3 pounds last week. Since
May the decrease. compared wish last year.
Is * per cent. IL only confidence in the future
could he restored the monetary troubles nigh,
soon he relieved. But nj present the want %
cash has retarded the II ovemen. OF wheat from
farms to The western markets. and exports
have not met expectations OF late. so that
prices OF grain have some what dccliaei
Pork products are sold more largely for ex-
port this week lrt cotton has yielded an
eighth. stocks OF 10000 bales here aud - ooJ
American abroad being too heavy when many
OF the mills are stopping
Coal is dull and the output Is much restricted
by the dime uliy OF getting money for wages.
The movement OF animals is less affected. Cat
tie receipts al Chicago are fairly maintained
and hog receipts in the latter part OF July have
been nearly large last year Railroad
earnings show a decrease OF about PER cent.
compared with that of last year. but the clear
inghouse returns at tie priacipai cities show
decrease in settlements OF y per cent APP
pells to the treasury for some relief are fire.
qlent. but its cash balance has been reduced
SO low that the gold reese. se may have To be
used Ia part for curren. expenses but si3.0])0J0
bank notes will quickly be added to the circu-
laton through use OF the bonds pur chaSsl
from savings hanks. and 100000 In
gold from Europe in spite OF the
advance In the Bank OF England rate tos per
cent. and OF its charge for gold 10 s6s 81 which.
with some specie and notes from Canada will
make the largest addition to the monetary sup
ply ever experienced in 4 single month. II this
sufces to cause the release Of boarded money
some recovery may come without waiting for
slow footed lawmakers at Washington. Hut
late adviccs give ground 10 hope that the
wishes of the business world may soon he an
swered by unconditional repeal Of the silver
purchasing clause OF the act Of is9D
Failures during the week number 39i in the
United States. agains: 100 last year and " in
Canada. against ~ for the same week last year.
The number OF the past week shows a decrease
from the previous week Of w. The west ~till
contributes the largest number. In the east
there were 1872, in the south %. and In the west
ISL