The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1893-07-29
BUSINESS OUTLOOK.
The Country Passing Through an
Extraordinary Strain.
Trade Has been Fairly Good, However
Big Mills and Iron Mines and Found
ries Snspending Work-Record Of
Failures for Week.
WEEKLY TRADE REVIEW.

WEEKLY TRADE REVIEW.
New YORK, July pr. G. Dun &
Cos weekly review of trade says:
This week t.e country has witns TODD sur
prisingly well an extraordinary strain. The
failure of many banks and firms have come
despite the relaxation In eastern ana
in some southern and western
money markets. Denver banks were
overthrown largely by the crazy actions OF the
people, but in most cities statements show the
banks in q healthy condition. and there mas
since been noticed more readiness to extenn
accommodation Under al! the conditions II
is astonishing that business has been so we'll
maintained with so little evidence OF unsound'
ness.
1.-THE stagnation in iron has closed some mag
re,ite mines in this state and New Jersey and
most of the mines in Michigan. Coke IS NOV
ing downward, pig iron is inactive, anu thougn
dealings in bar and structural projects are
somewhat larger prices are the lowest ever
known.
..1vheat has fallen cents, corn cent Pork
nrot,ucts and oil are lower. In place Of the ex-
nected advance in sugar a decline has come and
cotton after some advance, recedes again
Western receipts OF wheat are moderate and
exports fairly large, but unprecedented stocks
press for sale. The stock market closed last
week nOUclully, Uul uy w CCASSooy lAtsA lOoSASu
the lowest average of prices since 1884 Lon
don and short sellers then bought and some re-
covery has followed.
AT philadelphia banks are holding currency
and Strengthening themselves. An easier feel
Jug prevails at Pittsburgh in iron. The C1ncln-
natl money market is easier and Cleveland re-
ports grocery trade good, but iron wholly mac
tive Toronto notes better feeling. lndianapo-
lis no Improvement but banks in strong posi-
ton and Detroit quiet business with the out
look not very cheerful
cat Milwaukee the closing OF some manu-
features and reduction of wages in others and
the failure OF the great iron syndicate are
noticed At ST Paul trade is restricted At
Minneapolis lumber sales are reduced and safes
Of -four below the output Omaha trade is Eood
and St. Joseph fair Receipts Of cattle are light
at Kansas City. Denver trade is demoralized,
but now more hopeful and many reported as
signments are regarded as measure OF pro-
lection. St Louis reports business good in
volume and character but trade checked by
closeness Of money, banks fortlfylng them
selves.
1.-The treasury has been paying gold to the
banks, but on the whole increasing It's holdings
ExDorts of products are a little larger than a
year ago, but imports a'so large.
1.-The failures during the past week number
467 in the United States. against leS last year
and twenty-five in Canada against nineteen
two OF the failures exceeding SeO0,00O and lol
others exceeding 5000 each. Last week the
failures in the United States numbered 574
RIG MILLS TO CLOSE.
MILTON MILLS, N. H., July 22.-The
agent of the Waumbeck company has
issued orders for closing the mills here
for six months, as soon as the goods
now in process of manufacture are
finished The reason assigned for this
action is a lack of orders, except at
ruinous prices. This is the first time
in the history of this company that
work has been ordered to cease on ac-
count of the condition of markets, and
the result of the present action will be
a serious blow to many employees who
are dependent upon their earnings IN
these mills for support
PORTLAND, Me, July ~. AT direct
ors' meeting Thursday 1t was decided
to shut down the mills OF the West
brook Manufacturing company, makers
of ginghams, from July 20 to September
4. The monthly payroll is 100000
There are three reasons that unite to
cause the shutting down, The goods
now being manufactured cannot be sold
until. October, and no money can be
realized on them until next spring. 1t
is not deemed advisable to pile up
goods. The mill has been in operation
thirty years without d shutdown. and
some repairs are necessary.
IRON MINES AND FOUNDR1Es.
PLArTsBuRa, N Y, July 22.-The
Chateaugay Ore & Iron company. whose
mines and iron foundries are located at
LYON Mountain. closed down Thursday,
as also did the Crown Point Iron com
pany mines and iron makers at Crown
Point. The cause given is dizziness in
the iron trade. about 1000 men are
thrown out of employment. The prin-
cipal stockholders of both companies
are New Workers.
ROLLING MILLS STOPPING.
MILWAUKEE, July 22.-The Ray View
rolling mills of the Illinois Steel COM
pany, which were recently started up
at nearly their full capacity. are gradu-
lly being closed again, and at the pres
ent time not more than half the plant
is in operation. Manager Hinton said
to-day that the shutting down of the
mills was owing to the exceedingly
dull condition of everything in these
times.
FIRST TINE IN A CENTURY.
HIGHLAND FALLS. N. Y, July 25.-
The Forest of Dean mines, situated
near this village and owned and oper-
ated by the Poughkeepsie Iron Ore
company, have closed down for an in
definite period. One hundred miners
are thrown out of work. These mines
have been operated without Interrupt
ton for the last. hundred years. No
reasons are given for the closing.
Hanged and Burned.
MEMPHIS, Tenn, July S4.-Lee Walk
er, the negro who assaulted Miss Mollie
McCadden and four colored girls last