Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-08-05
BUSINESS.
DUN's REPORT.

NEW YORK. Aug 4-R. G. Dun &
Cos weekly review Of trude says: De
moruliZatiUu in the speculative markets
has been followed by a more healthy
tone. Ia The money markets there l.
souc singular sense Of relief. nOtwith-
emuarrls -menis almost amounting 10 q
iIFaly sis OF exchange between the chief
commercial cities. and Of many industrial
works, because even . per cent premium
f1s currency fails 10 secure what Is
ueeiel for the payment Of wages. Hopes
are nevertheless fixed Oh ships bringing
over Sl1,DDu,uJ iu gold from across the
sea. and Oh the extra session Of congress,
which begins Monday
Several Of the largest and boliest oper-
at1rs AZ thica.u have been crushed
under pork. but the constant increases Of
foreign purchases cOuyiuecs that the mar
ket's disaster has brought certain
measure Of relief The monetary strin-
grncy. which at last crushed speculatiuns
ia wheat and hog products, has been
caused IN part by their prevention
Of exports aud their absorption of
enormous capital In carrying un-
precedeuted stocks of produce, which, If
sold ia time TO foreign consumers
would have brought gold enough
10 prevent much evil. Wheat recovered
about / cents, and pork 81 or more at
Chicago, and orders for export caused o
sudden advance in ocean freights. With
the great surplus OF wheat brought over
from previous years the country viii be
able to meet all demands even though ule
crop proves small enough TO JUSTIFY con
siderable advances from previous prices,
With IL great crop Of corn almost as
sured. the unusual denominations Of pork
and hog products will be safer on the
ocean than Ia Chicago, and more hope
iu to the country. =.
Stocks were at the lowest point TINS
week, averaged little more than Sil per
share but II is yet II long way down 70
the prices Of 1877, averaging at the
lowest SIT per share, and the contrast
batyypen the condition aud the earnings
! OF The railroads now aud then is greater
| thnn the difference IN prices.
In their anxious efforts to iortiiy them
/ selves. the banks throughout the eouhtr!
have locked M large amount Ot cur
| rcncy aud dcpOsitorS who have drawn
| their accounts are also keeping out OF
| use many millions. As the entire circu'
| lation Of bills of less than 50 each Is but
| STl. 100000. while dcpositors in saving
| banks number nearly 0,OOOuD, tht
| withdrawal or the mere Withholding oil
their accustomed deposits. by consider
able proportion Of them, has put out oi
| the market many of the small notes
| The demand for these has been so grcn
that shipments Of silver have in many
| cases been gladly received, nud ihe uli
hculty of getting currency for payins
employees causes the premium for cur
rency In many cases TO range as high a'
| per cent,
Closing shops aud works for lack o
orders Is an overshadowng fnct.
Sales of wool are not a third Of las
year, and yet the new clip decreases hn'
been 4I.T95,2TO pounds, or about ~ pc
cent. Prices are weak, and yet are 81
low that decline seems unlikely.
Carnegie and some other iron work
have almost ceased producing, and a
yet the demand brings no further stimu
ius, though prices In this line are also 81
low that most makers prefer TO stul
rather than TO take lower figures.
In the boot aud shoe shops the stun
ti0n is rcAry the same, Eastern shin
mruts falling of about quarter Col
imports may help revive credits. up0l
which Il great share of business depend,
The volume Of domestic trade indicate,
by railway earnings is but o per zen
smaller than last year.
While the failures Of the week nun
Der 4l6 ngainst 100 last year, the grea
proportion of them is at the West, an
1t is cheering TO note that comparntiyel
few OF importance occur except In cor
neeti0n with speculative operations.
Failures during the week number 40
in the United States against 1GO las
year. and 81 In Canada, against ~ las
year. There were three failures of 81
100000 or more. two at Chicago, due /
the break In the pork deal, aud one 1
New York.