The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1894-08-17
DNN's COMMERCIAL REVIEW

Legislation UnpleasantIy Affects Busl-
ness. Making Present Indications and
Conditions OF Comparatively Little Value
The Exhaustion of Stocks Creates Some
Business Activity.
NEW YORK, Aug. 11.-R. q. Dun g.
Co. S weekly review of trade, issued to-
| day, says:
With changes every hour in the
prospects about the tariff, and de-
cision expected every day, business has
unpleasantly resembling gambling.
| Orders and purchases have been largely
based upon individual opinions regard
ing the legislative outcome, and vast
| amount of business has been deferred
because the decision was yet in the
future. The accommodating demand
| which has stimulated trading and
manufacturing within the past week
or two represents, to a great ex-
tent, needs which have been postponed
waiting for a settlement, but can be
postponed no longer. Thus, both the
rush of deferred business in many lines
and the scantiness of new orders
reaching into the future reflect an un-
| natural state of things which cannot
be expected to continue, and, while
| the volume of business is larger than
| the existing condition of uncertainty
warrants, it is, in sense, but shadow
| of the larger business which should
come with removal of the prevailing
uncertainty.
In such circumstances the present in
dications and conditions are of COM
paratively little value, but the start
ling advance in corn discloses a gen.
eral belief that the injury to this most
important crop has been SO great as to
affect materially the traffic of rail
roads, the demand for manufactured
products and the cost of meats for the
coming year.
Unless the markets deceive and are
entirely deceived, the country has to
face real calamity in the loss of
something like 500, 900, 900 bushels of
corn, which consumers have to share
through the advance of IA cents in two
" eeks, and 9 cents since Friday of last
week. Neither official or unofficial
statements as yet preclude the hope
tina the loss may prove less serious.
But at current prices 1,5OO, 600, 900 bush
els would cost as much as 1900, 100000
Wheat has risen 81 cents in the
fortnight and 215 cents during the
week, although western receipts have
been 1928, 12S bushels, against 8, 162, ,694
last year. Atlantic exports are little
stronger, as is natural. Cotton has
twice risen and again declined a six
teenth, with increasing prospects of
very large yield, closing without
change for the week.
Gold exports have practically ceased,
for time, with the settlements for
most of the 10000, 900 pounds of sugar
imported within the past two months,
and treasury officials are more hopeful,
counting upon larger receipts on ac-
count of whisky.
Low as the gold reserve is, there ap-
pears slight gain, and with cessation
of gold exports, the improvement
should be considerable during the fall.
Whether under old or new duties, inn
ports and customs revenues will natur-
ally be large for some time after a de-
cision on the tariff question.
There has appeared of late some de-
mand for gold from many interior
banks, not in large amounts, but in the
aggregate enough to indicate some ner-
vousness of feeling. The volume of
commercial loans is increasing, though
moderately. but in manufacturing
paper less increase appears than
might have been expected.
The business in boots and shoes Is
strong and healthy; though conspicu-
ously confined to medium and low
priced articles, such IS rs cent shoes
for men and 55 to go cents for women's
wear; but shipments from Boston have
been, in two weeks, 166,693 cases,
against 122, ,826 last year
People cannot no naked, even if con
gress is slow. Demands for textile
goods clearly represent exhaustion of
stocks and continuing needs for con-
sumption in the main, though there
has sprung up quite speculative busi-
ness on the possible failure of tariff
legislation.
Lower prices in some cotton goods
have encouraged larger operations, and
the proposed reduction of wages at
Fall River is now announced, as yet
without clear indication whether it is
to be followed by strike. Woolens
for winter go as before, and the open
ing of spring goods discloses a decline
of about 1919 cents in the average from
last years prices, but the goods are
not urged by makers nor hungrily
sought by buyers.
The sales of wool would have been
larger, according to reports from the
different markets, if there had been
sufficient stocks available, but they
amounted to 1923, 400 pounds at the
three eastern markets, against 9,22o, 700
pounds two years ago. Country hold |
ers of wool do not at present appear to
be anxious to let somebody else specu-
late on its price, and are said to be |
keeping back supplies quite generally, |
although receipts at Chicago were
1860, ,o51 pounds for the week, against |
l.127, ,O99 for the same week last year.
Failures for the five weeks ending |
August 1, showed liabilities of S11, ,144,- |
713. of which S., ,626. .594 were of manu-.
featuring, and s., ,220, PAT of trading con-
Germs.
The failures during the past week |
have been PSI in the United States, |
against 394 last year, and 81 in Canada. |
1oraipst Ok last wear