Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1893-06-29
DUN'S REVIEW.
A Discouraging View of the Com
mercial Situation.
SPECULATIVE MARKET DEPRESSED.
stringency In Most cities of the Union-Its
Eject Not 80 Marked AS Might
Have Bcen Ex-
pected.

NEw York, June 2L-R. @. Dun g.
Co.'S weekly review says:
The improvement expected from the issue Of
clearing house certificates, thus utilizing cred
its Instead Of cash in local dealings, has not
yet been realized. Other cities, especially In
the west, have not taken similar measures to
relieve the pressure and the demand for money
from the interior continues unubated
The volume Of trade ls considerably reduced
by monetary stringency, Bank clearlngs out.
side OF New York are declining materially In
comparison with last year In some depart
ments Of business orders for merchants nre de
TERED, since there In no assurance Of ability TO
carry the goods until they are sold while in
other depar tmUnts orders are not received be-
cause the future is distrusted The effect on
the great industries has been less thus far than
might have been feared, as most OF the works
are employed on orders booked before the
trouble began, but many works are now reduc-
Ing the number Of hands and others must soon
suspend operations unless the prospect becomes
clearer
In the iron business Improvement Is expert.
onced and pig Is as low as ever, while finished
products are still in fair demand and prices
are extremely low. It thought the closing
OF works will reduce the output OF pig iron con.
sideraby.
The wool manufacture Is moving with great
er caution than usual At the west at present
mills are working mainly on past orders Cot
shipments OF boots and shoes on past orders
far exceed last years, new orders are not en-.
couraginL
Speculative markets have been much de
pressed by monetary stringency, wheat having
sold for several days ut the lowest price ever
known here and at Chicago, though the wide
margin between June and September offers
strong temp tation for the use Of money In car.
ryiug The movement Of grain from the far
west was the largest OF tho season and by no
means indicates the exhaust ton OF stocks and
the visible supply decreases so slowly that
purchasers arc little encouraged The new har-
vest has already begun and prospects are de.
cltedly frightened By much needed rains In the
northwest during the week
Corn has been weak with more cheering crop
prospects, and hog products slow, because Of
monetary strlngency. Cotton sharply declined,
but partially recovered with stronger foreign
advices
Accounts from other cities nearly all show
that the monetary pressure Affects trade mate
rally; that collections are unusually slow and
banks extremely cautious 10 lending even
when they are strongly fortified At Pitts.
burgh the volume OF business has somcw hal
decreased and the fact that two prominent
iron concerns are Involved Is not encouraging.
1t Is thought the mills In trouble may close, de
crels'ng the output Of pig, and n strike regard.
| ing wages il thought more probable At
Cleveland trade Is fairly good. money Is close,
| AZ NlnClunAl stflhRtdcT ullNcs cOlleCtOuA
| close At Detroit m Inufacturers are dlscharg
| ing some OF their employees, with the prospect
that many must close II the stringency con
| tnues
Rains have had good efcet on growing
| crops At ST Paul and Minneapolis prospects
are much brighter Chicago reports no dis
| tinct Improvement In trade, though July settle
ments will soon release large sums, and or
| easier market IL expected Specula alton Is
| much curtailed and prices for wheat the lowest
| ever known. Local securities have shrunk sew,
| eral points and provisions are lower Clear.
ings show decrease OF 80 pei
cent, real estate and securities 20,
receipts Of nearly all produsts decrease. Nil
waukce reports money slightly cas- p. Omaha
trade Is goOi and money plenty ST Joseph
| reports SLOW collections and Kansas City fair
| trade and collections Denver reports fail
| trade. but slow collections At ST Louis tn,
freight movement Il gratifying Banks ore a.
| commoda'ing customers on all regular bust
| ness. but refuse specul itorA At All lnta trad,
| Is fair for the season but collections slow ant
money very close At Mobile trade Is fair, bu
money scarce.
The state ot foreign trade Il not vet salts
factor for exports Of urCdlcB In June fal
below last years at New York thus far g.
Ol0li, or about II per cent, while imports arr
stl'l lArSer than year ago Trtiing "a stock.
Is much affected b. monetary conditions. aut
prices I'VE been dop'es tcd on an average OF .
cents per share, and som, selling by foreigners
o. securities recently purchased.
There Is hope that JIlS If ibursements, tn,
issue Of certificates and the Increased grail
| fhirmCnts will bring better conditions, but th
failures are stil numerous and include some o
importance
Tho failures for the week number esf as CON
pared with the totals OF Ji7 last week. For In
corresponding week Of last year the failure
| were lOl