The Monticellonian., 1894-09-21
DUN'S COMMERCIAL REVIEW.

While Business Has Received No Setback this Week, the Volume of Increase Di-
 minlshes, Orders for the Replenishment
 of Exhausted Stocks Having Been Largely
 Disposed of-A Conservative View of the Outlook.
 NEW YORK, Sept. 15.-R. c. Dun x Co., weekly review of trade issued to- day says:
 Business has met no setback this week, and continues larger than early in August and larger than a year ago directly after the panic. More commercial paper is offered; the western demand for money in- crcases; the iron manufacture greatly expands its output; shipments of shoes continue large, and cotton goods still advance d little. In some directions the postponed business has about spent itself, and less active trade results, while the net increase has not been much more than Is usually seen in passing from August to September. In comparison with last year the in- come is 70 per cent. in volume of clear ings, while in comparison with Sep tembcr. 1899, the decrease is 25.7 per cent. Railroad earnings in September thus far reported are l.3 per cent. less than last year, but 15.j per cent less than in 1892, and the tonnage compar- ison shows substantially the same re- suit
 The country has now passed nearly three weeks under the new tariff. and all admit that changes have been of less importance as yet than was ex- pected If in some branches business has materially increased, it has gained little or has fallen off in others Loss i'll some directions is explained by crop reports, for the most favorable esti- mate of experts puts the loss of corn at about 400, 000,0 ,000 bushels, whereas the government report is by some inter- preted as meaning loss of ,000, 900, 0a0 bushels. The opinion of the trade does not favor the official estimate, and the price has not risen at all during the week, though receipts have been very small; exports have practically ceased, and all realize that the shrink age of 400 coo, GOO bushels is serious, if it proves no greater, since it must af- feet prices of meats for year or more. Pork is unchanged, but lard has risen 90 cents per 100 pounds.
 Nor are official reports as favorable to wheat. Western receipts in two weeks have been tf,fs4.6s7 bushels, against 10,674, ,761 last year and Atlan- tic exports only 2,074, 7a0, against 5,l06.569 last year, and the price is one half cent lower. Considerable injury is officially reported to cotton, but few expect less than B, 900 0O9 bales. winch is more than enough and the price is a sixteenth lower.
 Shipments of shoes from Boston in two weeks have been 16s.Q15 cases, against l0s, 450 last year, and in low priced goods the market has not been as bare for years, while purchases from stocks or for quick delivery re fleet depletion of stocks and consum- ing demands.
 Less activity is seen in dry goods, the rush of postponed business having abated, and there is more disposition to defer purchases because of some what general advances in cotton goods, and because London wool sales are ex- pected to make the outlook clearer. Strikes in cotton mills have not ceased. and stocks of print cloths shrink rap idly; but some question whet her re cent advances in prices can be main tainea, with important additions to the present force. There is still q fair business for speedy delivery in wool ems, and for cheaper grades of spring goods, bat scarcely anything is done in the finer grades About half the usual business in the aggregate ha. been done, it k estimated but abant three-quarters in the cheaper grades.
 Sales of wool have been s.255.a06 pounds in two weeks. against 5.647,o0a last year and 16.42s 500 Tn 1892. The markets are easier and less active, all waiting for the London sale.
 Speculation in stocks has been tame, the public being indisposed to sell, while crop prospects and unsatisfac- tory earnings hinder any movement by operators. London has sold q little, but the average for railroad stocks has advanced during the week 80 cents per share, while trust stocks declined IS cents, whisky showing most weakness.
 Domestic trade reflected by clearing house returns, naturally about 10 per cent. larger Tn September than in Au- gust, gains little more than last year, but less than in 1892.
 There is a little improvement this week in offers of commercial paper, particularly in connection with manu- factures, though the business is still narrow. The movement westward and southp p'ard has also improved, and the scarcity of small notes for use at the west has enabled the treasury to add little to its gold reserve. Customs re eeipts in September are So, 0si, ,037. against g 9s6, l2d internal revenue, and imports of merchandise increased less than was expected. Exports of prod nets from New York in two weeks have been IS per cent. smaller than last year, and in August the principal ex- ports amounted to S35, ,675, 6sl, against st5, ,G69, 152 last year, a decrease of 22 per cent, mostly in breadstutfs
 Failures in the first week of Septem- Der as yet reported show liabilities of only S1, 430, orc, of which S4l5. l&0 were of manufacturing and S937, 450 of trad ing concerns The aggregate of lia- bilities reported for August is SlO697,- 5l3. This week the failures have been 207 in the United States, against 314 last year, and A in Canada, against 27 last year.
 A FOOL AND HIS PISTOL.