Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1895-12-24
TRADE REVIEW.
Business Outlook as Viewed by
Commercial Agencies.
Effect of the Presidents Message
Noted on Stock and Secu.
rlty Values.
New York, Dec. 21.-Bradstreet's

New York, Dec. 21.-Bradstreet's
says:
1.-THE general business situation has been
affected by the precipitation of possible
complications with Great Britain. A vio-
lent depression in stock and security values
has followed the presidents Vene1uela
message and its reception in Europe. The
London market has been no less disturbed
than our own, and the foreign selling of
our securities was on an enormous scale.
On Friday the stock market approached a
panicky condition, with heavy declines and
however, by rally. Gold shipments for
the week nre S. 900. of which $500 600
| 60 to London to-day. The treasury gold
reserve is below $70,0oo.0o0. Foreign ex-
change is up to ASH for demand sterling,
and bankers show great Discrimination to
draw In view Of the possible curtailment Of
foreign credits here. Money ranged az
high as eight per cent on call Thursday,
but dropped to six before the close. There
| were heavy losses among spectators on +
margin.
Sentiment of Business Men.
Representatives Of Bradstreet's at q
cities interviewed many leading Inanufac-
turers and merchants Thursday as to the
Effect, present or prospective. on trade OF
the international situation precipitated by
The presidents message. the message it
self. and as to the probability Of actual
hostilities The interviews fairly rep
resent the sentiment Of many OF the
most important financial. Industrial and
commercial houses of tho country. In
no instance. 30 far as the interviews ex-
tend, is war considered the probable out
some. So far as the effect on business Is
concerned. eastern and western mnnufac-
turing centers and many of the larger
western and northwestern distributing
points report none Is felt whatever. Per.
hnps as significant as any other feature Of
no int % hot In, oil oitt
four the consensus OF opinion distinctly
iavors the sentiments expressed In tho
presidents message. The exceptions where
opinion on this point was divided are New
York. Boston. Detroit and Milwaukee,.
Dun on the Situation.
r. G. Dun & Co., in their weekly re-
view Of trade, say:
1.-The strong Americanism Of the presi-
tents message has given Its character to
moved, but, excepting in stock and cotton
markets. business was remarkably dull
md scarcely affected. Selling Of securities
held abroad was natural first impulse,
though the sellers are not unlikely in time
to discover that no other securities are
Iafer from international complications than
The American. Cotton has declined quar-
Ter, and wheat about two cents. The mar
kets in this country do not act upon the
| theory that any interruption OF foreign re.
iatlOnS lS TO De expected. coming at q time
when nearly all produce markets are In
| active and industries unusually dull. the
disturbance has affected values much less
than might have been expected. Not be-
cause Of any foreign question: but solely
because of influences which have been In
continuous operation for months. prices of
manufactured goods continued to decline
| There Is no great change In boots ard
shoes. though gradually lower prices are
offered. Leather still declines. though
| aides at Chicago are scarce and stronger.
Prices Of iron and steel have fallen about
| three per cent. for the week and are now
| three per cent. below their maximum
THE stock market went all to pieces on
Friday and closed three dollars per share
| over than week ago for railroads and
s3.25 per share for trusts. On Friday alone
the four more prominent railroad stocks
| ell an average Of s5.62 per share, and tho
| ave more prominent trust stocks $S.S7 per
share. much of the selling being OF Sc
:uritjes largely held abroad.
Failures for two weeks Of December
show liabilities of $6,51o.451 against $780,
t0l last year, and s11,67s.9ss for the same
weeks of 1893. Failures for the week have
been 81 in the United States against $40
asst year. and 90 in Canada, against s6 last
year"