The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1894-12-08
puN.s COMMERCIAL REVIEW.

DoAu oato AAoo
ness-The ~urchasi Power of the Coun.
try on the Whole Not Increased, and the
Price of Farm Products No Better-A
Further Fall In Stocks.
New YORK, Dec. l.-R. G. Dun &
Co. S weekly review of trade issued to
day says:
The complete success Of the govern.
ment loan and the replenishment OF
the gold reserve have not perceptibly
affected business Nor prevented an ad-
vance of foreign exchange near to the
exporting point. AS January interest
has O to be met, and the operations
of the syndicate are thought likely tc
prevent much selling of bonds to for.
eigners, some exports of gold are not
improbable.
Meanwhile domestic trade and in
dustry have not been much Influenced
by the heavy d~efalcation in n bank
and minor disorders in two others, nor
by the failure of the Erie railway to
meet interest on its bonds. The clos
ing of sugar refineries will diminish
The industrial force more than it is in
creased by the resumption OF the Beth
lehem steel works and a few other
concerns. The controlling fact is that,
although in two instances wages have
been increased, the earnings OF
the working force and its pur-
chasing power are not, on the whole,
enlarging at present, and prices of the
chief farm products do not improve.
Wheat is IA cents higher than a week
ago, and western receipts still exceed
last years, amounting since July l to
1O3, 500, 600 bushels, against 100, 500, 900
last year, while exports from all ports
have been about 1000, 900 bushels
smaller. Corn has advanced n frac-
ton, receipts being larger than a year
ago, and on the whole the outcome for
farmers has not so improved as to
promise larger buying by the west and
solth.
The stock market disappoints those
who reckoned on improvement after
the sale of bonds. The average for
railroad stocks has declined 80 cents
per share, and for trust stocks S1.93 per
share, in part because the Shoe and
Leather robbery and other bank irreg'
ularities caused some unreasoning in
fuences, but more because the earn
ings continue uninspiring. Those re-
ported for November thus far are L.
per cent. less than last year, and TO-
per cent. less than in 1892.
The tumble in sugar stock may be
aimed at congressional action. but the
enormous importations last summer,
in anticipation of duties, have not
been sustained by the expected con
sumption. The curtailment of coal
production also lessons working force
or hours and many of the -four mills al
the west have stopped on account OF
the condition of the market.
The great industries fairly maintain
the production previously reported, but
cannot be expected to increase at this
season. A few more iron works have
gone into operation, and the demand is
reported larger, but there is distinct
weakness in prices, especially at Pitts.
burgh, and Bessemer iron, billets, nails
and some structural forms are quoted
lower. The rail combination has
agreed to a reduction of s. per ton for
the next year. Coke contracts are be.
ing made for the first quarter of 1885,
at current rates.
The shoe industry continues to dc
remarkably we'll for the season, and
heprospect for the spring business is
fairly, good, although trouble about
prices occasions some friction.
In textile manufactures there i
more strength in print cloths. bur
other cottons are somewhat irregular
and weaker. The wooden manufac
ture still receives some orders for win
ter goods, but the demand for sprin!
is much retarded by unavoidable della,
in filling orders.
Money commands better rates sine
the sale of bonds, but there is ~scarcel,
any improvement in commercial or in
dustrial demands, and the flow of cur
rency hitherward is as large as it ha
been at any time since September
Importers make moderate demands
and the call from merchants is onl
for immediate needs. November pay
nents through clearinghouse are bu
S.2 per cent. larger than last year an
$3.50 per cent. less than in 1892. Treas
ury receipts are small, customs 20 pc
cent. and internal revenue nearly 4
per cent. less than last year, and tn
deficit for the month appears to b
about 50, 900, 900.
The liabilities in failures for tn
third week in November were s., 1888,
93i. against s 2.as5,676 for the sam
week last year. The decrease was al
in manufacturing, of which the liza
bilities were S915, 1926. against 81, $50, 02
last year, while in trading concern
the liabilities were s., 49,, $40. agains
S1,3st,649 last year. For three week
of November the liabilities have bee
ss,0SS, 429, against ST, 937, AS last year
The failures this week have been %
in the United States, against 271 las
year, and 36 in Canada, against 80 las
year.
To Recount the Kansas City Returns.
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