The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1895-03-02
DuN's COMMERCIAL REVIEW.

day, says:
The surprising success of the new
loan and the great confidence it has
given to investors on both sides of the
water and to business men here, en-
courage many to hope that it may be
the beginning of a real recovery. In
twenty-five minutes here subscrip-
tions are supposed to have been
at least five times the amount
of bonds offered, and in two
hours at London they were twenty
times the amount hat was offered.
Considering the power which control
of these bonds gives to regulate for
eign exchanges and to prevent exports
of gold, the transaction has indeed
changed the financial situation. in
spite of the fact that government
revenues are still deficient, and that
domestic trade shows scarcely any
gain as yet. The industries are not en-
larging production, nor have prices of
farm products improved. But a very
important source of apprehension and
hindrance has, for the time at least,
been removed.
Wheat fell to So cents Saturday last,
but recovered to 81, only a quarter be-
low the price a week ago.; while corn,
cotton and pork are unchanged, and
hogs and lard are a shade lower.
Western receipts of wheat are nearly
as large as last year., though for three
weeks about 40 per cent. smaller, ow-
ing to the storms. The exports are a
little larger than a year ago, and yet
are not large.
Cotton has refused to advance,
though there has been much talk
about curtailment of acreage this year
and receipts have sharply decreased.
The decrease was apparently owing to
the unprecedented weather at the
south and the market is more influ-
enced by the certain over-supply for
the text six months than by the pos
sible shrinkage in yield next fall. As
the market for goods is full here and
abroad the fact that available stocks
of American are about 300, 600 bales
largert than in 1892 at date justifies ex-
pectation hat the surplus carried over
will be large.
The volume of domestic trade repre-
scented by exchanges is but little larger
than last year, with allowance for diff
ference of working days, and 32.5 per
cent. smaller thantwo years ago. The
more accurate test, the daily average
for the month, is 90 per cent. larger
than last year, but 34.4 per cent.
smaller than in 1893.
Railroad earnings do not fairly rep
resent general conditions on account
of the severe and extensive storms,
though trade as well as ~transporta-
ton vas checked by the delay of or
ders, mails and shipments; but earn
ings for February thus far have
been Sc per cent. less than last
year, and l9.S per cent less than in
1s93, the largest loss being on southern
roads, where such interruption by
SNOW is rare. East-bound tonnage
from Chicago is small because of
firmer rates, but amounts for two
weeks to 111,270 tons, against 95, $40
last year, and lag, 996 in 1898. West
bound traffic appears rather better
and the through grain movement at
st. Louis and Indianapolis is very
large. Stocks have scarcely advanced
at all during the week, the average
for railroads being only Z cents per
share of 800 higher than a week ago
and for trusts only IL cents higher.
The trouble between the shoe manu-
facturers and sellers ofleather does not
lessen, and nearly all the jobbers are
refusing to pay the small advance in
prices which makers sof boots and
shoes have asked on account of the
high price OF leather.
Textile products show few changes,
but those are downward. CottonS are
meeting an Indifferent demand, and
New York mills 4x4 bleached have
been reduced to 81 cents, and Ions
dale Aka bleached to So cents, and in
cheaper goods and brown sheetings
prices are irregular.
Inlight-weight woolens the recorders
continue later thanusu I and the. pre-
liminary purchases of medium andlow
heavy goods are larger than a year
ago, some mills having business until
April, while in the higher grades there
is more promising demand. The ter
mination of n strike at Philadelphia
sets more carpet mills at work and the
demand is fair, while in dress goods
little is doing.
Sales of wool at the chief markets in
three weeks of February were Is, 1922
O5O pounds, against Is, O1O, 500 two
years ago.
The exports of domestic products
from New York are smaller for the
week. and since January about 81, co.,
00O smaller than last year, while the
imports have been SIS, zoo, 900 larger.
The government customs receipts for
the months thus far have been only |
s., 431, los and internal revenue Sc, ESQ.,
Dos, the total receipts being s5,27s, 347
less than expenditures.
The failures for the first half of Feb
ruary show liabilities of $3.50, 9s6, |
against IS, OO3.O72 last year; of manu-
featuring concerns 81, SOC, $40, against
50, 40, SIS last year, and of trading con-
Germs S3,353,O19 {, against 81, 7O3, 749 last
year.
The failures for this week have been
3O2 in the United States, against 2sS
last year, and in Canada Sc against 81
last year.