The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1893-06-23
WEEKLY REVIEW

or the Condition of Trade Throughout
the C0uttfy, Prepared be IL. q. a. Dun
~ C6s-fhu Monetary sltuatf6h stu Un-
settled, But the Keen Edge of the Ex-
cKtement Wearing On-A Conservative
Feeling Peryades Business Circles-Fai1-
for the Week. Etc.
NRw YuRE, Jiine 17:-R. &. Dun &
Co. IS weekly review of trade, published
| this morning, says:
Concerted action bT the banks Of New York
has changed the situation materially. More
failures and tremendous drain of money to
the west had such effect that the banks were
unanimous in deciding upon the issue of clear
ing house certificates, but precautionary
measure to prevent trouble rather than because
the urgency of the trouble male it necessary.
Increased Recommendations for the bust.
ness community are expected to result and
doubtless will unless speculation is stimu-
lated to absorb all the increase available re-
sources through undue prefefsfc5 for market.
able securities over other assets. The excite
ment at Chicago and Milwaukee has abated,
but the weakness OF banks at many western
points continues, and the character of the
failures reported indicates that widespread
strinFency is having serious effect
upon merchants and manufacturers who
are in no way connected with spec
ulative operations. very sharp fall in
foreign exchange removes the chance of gold
export at present, but is due to foreign pur-
trade balances. Exports in two weeks of June,
IL Is true, are but s2700,0O0 or Is per cent. be-
low last year. and imports show small de-
crease instead OF the enorm Gus increase re-
ported for months, but balances are still ad-
verse and likely to be for some time. The de-
cline In prices has led to some increase in the
foreign demand for products, but has been fol-
lowed during the past week by an advance of
more than cent in wheat. with sales OF only
27OO0,0O0 bushels; 21a cents in CO m, and three
ed 90 halo
Pork has fallen cents and coffee has fallen
cont but without any material increase in ex-
ports. Wheat receipts are still large, and ac-
counts OF the growing crops decidedly more IA
corable from the northwest, but conflicting as
to cotton.
The output of pig iron declined 1872 tons
weekly in May. and is scarcely larger than
year ago. Stocks on hand declined 49, 900 tons
in the month, but further reductions of output
is in progress The market for iron and its
products remains dull and unsatisfactory. Bar
is especially weak, and southern pig much de-
pressed for sale. Tin has advanced s. cents
per 100 pounds, but copper has sold at l0A
cents for Lake, and lead at $40. The demand
for boots and shoes is less than usual, but ship
mentS are still about az large as year ago.
The market for wool is again much depressed;
at Boston about cent. and sales were only 81
coo pounds against 21f 900 the same week last
year. The decrease at all principal markets
for the year thus far is II per cent.
opened, and while the tone is healthy, the orders
obtained are generally smaller than usual. No
new business Is reported in dress goods, but
the great sale of AZ 600 rolls of carpet was
noteworthy success though prices were rather
lower than December. Cotton goods are quiet.
though there is some talk of reduction in
prices, but print cloths are steady Reports
from other cities nearly all show tight money
and slow collections. The exceptions are as tc
money in a few southern cities like Charleston
at Orleans
good demand, but fair supply. while at Knox
Vile the demand is smaller. Collections are
sair at Baltimore, Detroit and Nashville,
average at Knoxville and good at Omaha but
low at other points reporting. The volume of
business has been much affected by the pre-
yailing stringency and caution about credits.
At Boston sellers very conservative, the
dry goods trade is moderate. though cotton
mills are in good shape with small surplus
stocks. Woolens are quiet; orders for shoes
come in slowly, and large sales of leather are
reported at low prices. Philadelphia reports
quiet or dull trade in most lines. slight IN
crease in paints and glass, improved retail
trade in dry goods and groceries and an ex-
pected advance in coal July l. Retail trade at
Baltimore is quite fair, but wholesale trade
quiet. Iron and its products are weaker
Rt Pittsburgh, and strike is ex-
pected, the workers demanding last
years wages. Trade at Cleveland is fairly
good and at Cincinnati quiet, but fair
trade is quiet and credits closely scanned, and
at Indianapolis there is a better feeling Chi
cago reports an easier financial situation, but
western demands urgent; collections very
slow; speculation limited in volume; building
per cent. smaller than last year; wholesale
trade fairly satisfactory and retail trade Inn
proved. Receipts of nearly all products are
smaller than year ago. Milwaukee reports
confidence slowly returning bankers as
sisting the interior and jobbers very
cautious At st. Paul excellent crop
prospects make more hopeful
feeling. and at Omaha trade is good, at Kansas
City fair, considering the state of finances, at
st. Joseph fair with good fall orders for dry
goods. At st. Louis trade is beyond anticipa-
tions and not affected by the stringency. AZ
all southern points trade is slow or quiet,
though at Atlanta and Mobile satisfactory
trade is reported. The market for stocks has
been stronger during the week, through the
advance has averaged less than half a dollar
per share and the demand for money has ad.
vanced notes on call quite sharply.
The failures for the week number 313 in the
United States, against 153 for the same week
last year. and "a in Canada, against 26 last
year.