The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1894-08-04
DUN'S COMMERCIAL REvIE wy
y Most Gloomy Report of the situation
Caused by the Continued Gntgo of Gold
the Fall in the Treasury Reserve and IN
the Price of Wheat. with Increased Tn
certainty About Tariff Legislation, Etc.

NV VI wheat" II
certainty About Tariff Legislation, Etc
Etc.
NEW YORK. July 2S.-It. G. Dun !
Co.'S weekly review of trade, issued t.
day. saws:
The heavy Outgo Of gold. the fall a
the treasury reserve. and of the price &"
wheat to the lowest point on record
and the Increasing uncertainty ahon
the tariff. have entirely over>hadoWc
other Influences. business delayed I"
months by TWO great strikes now crowd
railroads and swcl!s returns. and give
the impression of revival in business
But it is not vet clear how fal
there * an increase IN new
traffic. distinguished al that
which ha, been merely hlockaded o.
deferred. In some branches there has
been more activity. but in others less,
because events early this week led
many To infer that no change of tariff
would be made. The internal revenue
receipts on whisky suddenly dropped
more than half, and sales of wool
greatly increased. But the unccr-
tainty : not removed. and much of the
business done seems to be in the nature
uf insurance against possibilities.
Internal revenue receipts amount to
SO. 200. DOC for the month. $1,000. 800
more thar in the same part of July
last year. Customs receipts this moEth
are less than IS. 600. 900, against S.6,-
0O0. 900 last year.
Freight which was delayed by the
railroad blockade now crowds the rail-
roads, and doubtless accounts in large
degree for heavy western receipts of
wheat. But earnings show little gain:
the comparison is now with Il time of
great depression last year. The dc
crease on all roads yet reporting for
July has been "6.5 per cent. though
the roads a. yet reporting for the third
week show Il loss of only 12.6 per cent.
Earnings in July on such roads as have
reported are $50 per cent. less on Pa
cific, 31.3 per cent. on granger and 81. :
OF southwestern roads. But much Of
the business was only deferred.
The payments through clearing
houses are b. per cent. less than Il
Year ago. and for the month thus far
lbs per cent. less. being .3.l per cent.
below those of iS9!.
Wheat has found in the lowest depths
Z deeper still. and sold below -. MAX
ing the monthly average at New Iorb
the lowest ever known. Western re
criptS have been 3.455.s74 bushels
against ,, l92.295 last year. in part he
cause of delayed shipments. bet the
movement from the farms has beer
heavy. while Atlantic exports have
been only 1.511, 60t bushels. against
2.O57.05O last year. Corn was stronger
with accounts of injury tn part of crop
and the exports are triiling. Co,tor.
declined Il sixteenth to +, cents. though
receipts from plantations are small
Official reports count for nothing in
comparison with enormous visible
stocks.
Textile industries have been per-
ceptibly stimulated according to deal
erS. by disagrecmcnts which many
suppose IN prevent change of the
tariff. and there has been more buying
of cotton goods. with slightly higher
prices for Il few. Notwithstanding the
closing of some important mills. The
stock of such goods is. on the whole,
quite large. In woOlcns, the goods
famine. which clothiers prepared for
themselves by dcfcrring orders, is
such that imperative necessities now
keep most Of the mills at work, and
purchases of wool for immediate
use are large. But there is no
nlnnnn fn,. tho hnftnr aS raSnn.f n,J,,c
running into the future. and indeed
some concerns have withdrawn spring
samples in which very low prices had
been fixed. and will make no effort for
trade at present. Sales of wool have
been greatly swelled by speculation. in
the belief that wool is not likely to de-
cline in any event. but may advance
sharply if tariff changes fail. Sales for
the week We're 9.O34. 100. against 2.16i.-
four weeks of July sales have beer
22.359.2S5 pounds, against 1866, 900 in
1S93. and 2O.25o.:50 in 1S9:.
While scarcity of coal delays resurap-
ton of work in many central and
western iron mills. the light inquiry
for finished products and the disap-
pointing demand for most at Pitts
burgh raises doubt whether material
increase can he expected until the
tariff question is out of the way. The
demand for sheets * better at Chicago.
and there are numerous small orderS
for structural work at Pittsburgh,
with rather better demand for bars,
but nothing like the expected rush.
At Philadelphia the one improves and
prices are steady. but foundry bust
ness is much depressed. and sharp COM
petition prevents advance in finished
products.
business in shoes continues good,
and shipments for four weeks of July
have been 11.000 cases or 1 per cent.
larger than last year, and $1,000 cases
or IL per cent. less than In 1892 or 1891.
Orders for women's light goods appear
to be slackening.
Failures for three weeks of July
compare well. of course, with the panic
period last year, commercial liabilities
being Sj.317.6 500. of which S;.5SS. 93S
We're of manufacturing and 81. 4O3, oil
of trading concerns. Commercial loans
are expanding but little, and great
caution still maintains soundneSS.
The failures this week have been e49
in the United States. against 1856 last