The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1893-06-30

H..
feet OF the Monetary Stringency neinv
Genernl'y Felt. and the Volume of isusi.
ness In Almost All Lines CurtalIed -Iuii-
urrs for the Week. Etc,
NEW York, june 2i.--R. g. Dun a
Co. 5 weekly review Of trade, published
this morning, says:
The improvement expected from the issue a.
clearing house certificates. thus utilizing
credits instead OF cash In local dealings h,s
not been realized. The failure oY banks Al San
francisco led To heavy demand from TINT
quarter. sl,WD 900 having been sent ia a single
day. Disirust OF weaker hanks was avoided hv
the application Of the hank Of Commerce for
el~o,uv certificates. and y, $50 30 were issued
Thursday but the pressure for redscounts
for interior banks is beyond the ability OF
New York To meet. The secretary has given
notice that he will anticipate the nay
ment OF interest July l. amountin, 10
Ta0o0, but only II 100000 on bonds held NV
banks which viii be Immediately dishursed.
Tho volume OF trade Is certainly reduced hy
monetary stringency. Bank clcarngs outside
of New York are declining materially in com
parison with last year. In some departments
OF business orders for merchandise are de
ferr~d- since there Is assurance OF ability To
carry the goods until they are sold while I'm
other departments orders are not received be
cause the future Is distrustcd The eject on
~
have been fcarei. but many works are now re-
ducng the numbe Of hands. and many others
must soon suspend operations unless the pros
poets are clearer
In the iron business no improvement X per.
ccntible. and pig Is "a low rs ever and willis
products are in fair demand prices are mighty
low Sales OF wool at all prominent markets
are very small for the season. Cotton goods
are quiet. and. while shipments OF boots ana
shoes on past orders far exceed last year. new
orders are not encouraging. Speculative mar.
kets have leen much depressed by monetary
strinrcncy. wheat having sold for the last few
days al the lowest prices ever known here The
movement OF grain from the farms is large for
the season. and by no means indicates exhaus.
tion Of stocks ana the visible supply decreases
so slowly that the purchasers are little en-.
Outraged. The new harvest already tcsins
and prospects are deci ieily Frightened by
much needed rains In the northwest during the
week.
Lower prices have increased the export de-
mand though II IL not large enough to make
much impression on the enormous stocks In
sight. Corn has been weak with more cheer
Ing crop prospects and hog products on ae-
count OF the monetary stringcncy Accounts
from other cities all show that monetary press
urc affects trade materially that collections are
unusually slow. and banks extremely cautious
In loading even where they are strongly forth
in trade and all buyers are cautious though
there is general feeling that the worst is over
Boots and shoes are quiet, and orders not
sufncient to keep works fully employed. Leath.
er Is steady. and dry goods in steady move
ment TO consumers though print cloths are
dull and WOODEN goods quiet. At Philadelphia
activity is seen fn dry goods. but other trades
dull and iron depressed. At Baltimore cloth
ing and hats are more active. and the ve-cta.
BILE and fruit packers have good season but
retail trade is more quiet. At Pittsburgh the
volume or business has somewhat decreased.
ana the fact that two prominent iron concerns
are Involved Is discouraying
AT Cleveland trade is fairly good and colcc-
tons better except for manufactures and the
banks are we'll fortified but money is SLOW
AT Cincinnati boots and shoes for the year thus
far equal last years and the dry-goods trade IS
fair. but st-ngency makes collections close
At Detroit trade is dull fall orders light and
manufacturers dischargny some employees.
with prospects that many must close 4 the
strfngency continues; but stringcncy Is felt In
the interior. and large failures result.
AT st. Paul and Minneapolis trade Is quiet
and collections slow. bu, prospects are much
brighter. Chicago reports no distinct improve
ment In trade. though July settlements will
soon take large sums and easier market IL
expected. One large real estate failure caused
some disbursement and money Is very spar
ingy loaned, though large loans have been
made for two months at heavy rates to aid in
carrying grain. Collections are very slow.
while orders for goods are fairly large for the
dull season. Speculation Is much curtailed
and prices for wheat the lowest ever known
Local securities have shrunk several points
lower Clcarings show decrease compared
with last year, and receipts OF nearly all prod
ucts decreased. Dressed beef. 10 per
cent cheese. is; oats. ~. hides. 30:
wheat and -four. 30: wool 10. corn. 45
lard. 81. harley. 20: rye and seeds. - Increase
T. seen in butter. pork. sheep and hroomcorn
Milwaukee reports money slightly easier. AZ
Omaha trade is good and money plenty. but
loans sparing. St Joseph reports quiet trade
and slow collections. and Kansas City fair
trade and collections allow. and light receipts
OF grain but liberal receipts OF cattle. Denver
reports fair trade and fair loans. At ST. Louis
the freight movement Is gratifying and the
amount OF business fair for the season. Prep
arations are making for active fall trade
especially In shoes. Banks are accommodating
customers in all regular business. but refusing
spectators. Trade fair at Mobile and prospects
favored by the weather. but money Is tight
and al Charleston trade in groceries is fair
but other trades dull. The state OF foreign
trade Is not yet satisfactory for exports Of
products fall below last years at New York
in June thus far e 600 600 or about "a per cent
while imports are still somewhat larger than
year ago. Trading in stocks is much affected
by monetary conditions. and prices have been
depressed an average OF Is per cent per share
with some selling by foreigners OF securities
recently purchased. There is hope that July
disbursements. the issue OF certificates and the
increasing grain shipment will bring better
conditions. but the features are still numerous
and include some Of Importance.
The business failures during the past seven
days number. for the United States ~. Can
ada, n; total. cs7, as compared with A7 last
week and 100 for the corresponding week OF
last year