The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1895-06-08
OUN'S COMMERCIAL REVIEW.

Co.'S weekly review of trade, issued to-
day, says:
More far-reaching than any other
change during the past week, if really
warranted by facts, is the continued
rise in prices of wheat and cotton.
Real scarcity of either would affect
all business. Happily there is still
room to hope that accounts of injury
are greatly exaggerated, although
there has been some evidence during
the week that both the great crops
have suffered more than at first APP
peared. Other changes are almost all
favorable. and some highly encOurag-
ing. Labor troubles are clearly less
threatening. Monetary conditions
are satisfactory, and the subStan-
tial increase in the commercial
demand is Il good sign. Exchanges
through the clearinghouse have been
greatly inflated by speculation, and at
this time last year were cut down by
the coal strike, and toward the end of
May, 1895, greatly reduced by bank
failures. But for the week they ex
coed last years by 10 per cent. and fall
only Sc per cent. below those of 1895,
while the daily average for May is go
per cent. larger than last year, but 7.l0
per cent. less than in 1898.
Stock speculation has shrunlk to less
than half its volume three weeks ago.,
and is almost wholly confined to pro-
fessionals. in spite of better earnings.
The aggregate for May is 3.S per cent.
larger than last year, but 1873 per cent.
less than in 1898, causes abOve-men-
toned affecting the comparison with
both years.
London has done scarcely anything,
though still taking bonds enough to
prevent disturbance of exchange. The
decline in railroad stocks averages but
IL cents per share, and grain-carrying
roads are supported with such tenac-
ity as to show that railroad managers
and owners have very small faith in
reports of injury to grain,
Wheat on the other hand is largely
supported by public buying, and the
purchasing orders from farming re-
gions are supposed to indicate an opin-
ion of the yield. Yet wheat comes
forward freely, as it would not at cur
rent prices if a short crop were as
sured, and western receipts for the
month have been 5,94i,574 bushels,
against 5.525,2 5S last year.
Nor do Atlantic exports reflect in
creased haste to buy abroad. amount.
ing in four weeks. flour included, tc
6.ls3, 1870 bushels, against 7.9l6. 30 last
year. Accounts still indicate that
spring wheat was not injured and
promises well in spite of some reports;
but in a few winter wheat states the
yield has been cut down. how much
cannot yet be judged. The sales of
the great stock held by the Fair estate
at a Francisco will lessen the Eu-
ropean demand upon Atlantic stocks.
Corn is 2i5 cents lower, lard is 10
cents per 100 pounds higher, pork is %
cents lower and hogs 20 cents per 100
pounds lower.
Cotton continues strong because it
is believed there will be much reduc.
ton in the yield per acre, as well as
in acreage. No estimate based on def.
mite information puts the decrease in
acreage at more than l3.5 per cent,
which. with a yield per acreage equal
to last years, would mean Il crop of
s, $500, 900 bales. Months must pass be-
fore there can be anything definite
known as to the probable yield per
acre, unless widespread disaster comes,
but the market has been acting as
though the future were known.
Speculation has diminished in vol.
ume and the fact that takings OF
.spinners have exceeded the maximum
consumption over 100000 bales in
northern states and twice as much
abroad, makes the commercial stocks
in sight, 3,3s4,552 bales last week,
look still larger. The advance this
week has been only a sixteenth and it
is supposed hat the stronger specula.
tors have realized. The manufacture
is doing well, though not all the ma
chinery is employed, but the demand
has been better and there are occa-
advances in prices of goods.
Sales of wool for the month have
been 10, 10. $50 domestic and 1O,O35, 500
against 10, S91. 700 domestic and
9, 267. 400 foreign in 1892. but stocks are
accommodating. and at Chicago
are said to be the largest ever carr led.
In prices there is no change.
The iron manufacture is gaining rap
and the average of prices else
given, which had fallen since
February l to SAG per cent. of the
prices in October, 1890, has now risen
to 50. IA per cent. most of the advance
been in May. Bessemer pig
has been lifted to 11.65 and gray forge
to 10. 40 at Pittsburgh by the growing
demand; tank steel plates are SIS per
higher at Philadelphia. and nail
producers have combined, raising wire
to 81. Is and cut nails to 81 by car
loads at Pittsburgh.
Failures for three weeks of Nav
shown liabilities amounting to
455, PA, of which 81, 642, 6O9 were Of
manufacturing and 81, go, 637 of trad
ing concerns. For the same weeks
asst year the liabilities amounted to
s7.TS2, 500, of which So, $50, sig were of
manufacturing and s., : ,275 of trad
.ng concerns.
The failures during the past week
been 2l5 in the United States,
1S3 last year: and ST in Can
against - last year.
A IMMATURE HADES.