The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1894-10-20
ouN's COMMERCIAL REVIEW.

Business Still Waiting on the Retail Trade,
the Development OF Which L. sIow-Large
imports and Small Exports, with Posi-
bilities Of Colo Exports-want of Faith
In Government Crop Reports Very Con-
fusing.
NEW YORK, Oct. 13.-R. G.. Dun &
Co.'S weekly review of trade issued to-
day says:
Business is still waiting for the de-
We opment of retail trade. There is a
little better demand in some indus
tries, but not SO great in others.
Wholesale dealers in nearly all
branches are hating because retail
business does not yet show distinctly
what it is to be. Lower prices Tor the
great farm staples and lower wages in
some establishments hinder our
chases for consumption, while po-
litical interest and uncertainty also
have some retarding influence. Mean
while large imports and small exports
of merchandise. with inadequate en-
ployment of money here, are raising
the rates of foreign exchange so that
possibilities of gold exports somewhat
affect the stock market. The hating
attitude for the moment is disturbing
TO those who have looked for contin-
ued gain, though, rightly considered,
it is the natural consequence of con-
ditions which were to be expected at
this season.
The government crop reports are not
greatly trusted, and yet have an iniu-
ence to actually eXaggerate the ten
dency coward lower prices, because they
are supposed to put all the crops too
low. Men calmly reckon that if the
government report indicates over 400,-
900, 900 bushels of wheat. the crop must
be over 500, 600, 900 bushels. and though
western receipts for the week nave
been only 4,469.O75 bushels, against
6.335.30s last year. and Atlantic ex-
ports only G47 PA bushels, against 900.-
SOD last year, the price is slightly
lower. Corn has been strong, for
receipts are hardly a quarter and
exports barely an eighth of last years,
and men question whether the actual
yield, if above the government esti-
mate, may not prove lower than has
been supposed. The cotton returns
are more confusing. but all point to a
weld so far above that indicated by
the government that its statement has
been followed by a further decline for
the week of o~ne-quarter. The receipts
thus far hardly encourage extremely
large estimates, and yet it is to be con-
sidered that the crop was later than
usual.
Reports from the different cities
show. as they did a week ago, that.
while extreme low prices for cotton and
wheat are checking retail purchases in
the west and south. there is, neverthe-
less, a general gain.
Monetary movements indicate that
the expected expansion of interior
trade has not been realized, and the
demand for currency from this city
has materially slackened. The de-
mand for commercial loans is weaker,
and 3 per cent. is quoted for prime four
months paper.
Exchanges at the principal clearing
houses for the second week of October
are relatively smaller than for the first
week. exceeding those of last year only |
81 per cent, while 21.5 per cent. less
than in 1892 The general average of
prices is about 6 per cent. lower than a
wear ago. though still somewhat higher
than in July last.
The iron industry records larger pro-
duction in September than in any other
month this year, but as prices are
gradually weakening because of insult
ticient demand for finished products,
some works are preparing to close or
shorten time. A few good structural
contracts are reported. and two,
amounting to Is, 900 tons, for steel rails;
but, while combinations hold up prices
of rails and wire nails, the demand for
bar iron is unsatisfactory, and Besse-
mer pig and steel billets are weak.
The season for boot and shoes has
been unusually good in number of
cases shipped, but in value the de-
crease must be large. because OF the
general preference of low-priced goods
1t is stated that so per cent. of spring
orders are for shoes selling at 81 or
lower, and heavy shoes have largely
taken the place of boots. Most shops
have orders for some time to come, and
demands for immediate delivery are
still numerous.
The demand for cotton goods has ma
terially slackened, and prices have be-
come irregular. although resumption
of work at Fall River and New Bed
ford. with only 5 per cent. lower wages,
indicates confidence in the future.
The wooden mills still have numerous
belated orders for fall goods, but the
demand for spring goods does not in
crease, although in nearly all the
lower-priced products domestic makers
appear able to command o of the
business hat exists. Sales of wool
have been 4.s77,949 pounds. against
. 800, 45s last year.. and 1000, 900 in 1892,
and prices are a shade weaker for fine
fleece. Ohio selling at III cents at
Philadelphia, but combing and terri
tory wool are steady.
Failure for the week ending October
4 show liabilities of 81, ia, 276, of which
sos. Ss5 are of manufacturing, and
ss9e. 391 OF trading concerns. The final
report for September shows liabilities
of only g 3O1 I94. of which So. 254 3.3