The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1895-08-24
DUN'S COMMERCIAL REVIEW.

A BeIated Season Caused by a Frozen May
Rather Changes Times and seasons,
While Financial Events are Used in
Speculative Markets to Create Appre-
tensions, But Do Not Prevent n Fair
Volume of Trade.
NEW YORK, Aug. I7.-R- G. Dun &
Co., in their weekly review of trade
issued to-day, say:
1t is a belated season; a frozen May
set everything back. The heavy bust.
ness which ought to have been done in
May and June vas pushed into July.
so that the midsummer decline due in
July in August. With this in
mind, one is not surprised to find the
s~hrinkage from July to August rather
moro conspicuous than usual. Finan-
cial events are used in speculative
markets to create apprehension.
Exports of gold have continued this
week, and while the syndicate has de-
posted enough in the treasuryto keep
the reserve intact, the impression
grows that another sale of bonds may
be made. Exports are falling below
last years, in two weeks of August
S3, 300, 900, or 20 per cent, while i'm
ports show a small increase of 81 per
cent
Government receipts for half of Au-
gust are s., ISL, 1876 less than expenses.
The disappointing crop reports of last
Saturday, though evidently distrust-
ed, lessen confidence in regard to the
future of trade, even while some spec
ulatOrs gain by them.
Back Of all doubts is the fact that
the industries are doing better than
anybody could have expected. The
output of pig iron August 1 was $780,
525 tons weekly, or 176, sos by another
report, in either case close to the
largest output in 1898, though sur.
passed by -, 900 tons in the spring of
1892. Unsold stocks are S8,O7S ton
smaller, the great steel companies
having made heavy purchases in adj
vance of needs, but the actual con-
sumption is large, and prices rise in
the face of the increasing output.
Bessemer iron is Sl4. - at Pittsburgh;
plates have advanced 81 per ton,
though other prices are in some cases
shaded in the east.
Wooden manufacturers find in their
way large sales of foreign goods at
prices which cause official investiga-
ions. The imports were 1900, 900
pounds of cloth and dress goods in the
first half of the year, against 5000, 900
last year. The sales of wool, 6,5I3, 600
domestic and 3.279, 900 foreign this
month, against II, SIC, $50 domestic and
1,602, 800 foreign last year, and IL, SG9,-
s02 domestic and 4,5G6, 800 foreign in
1892, indicate hat domestic wool is
largely held for speculation at prices
about a cen higher than manufacture
ers feel able to pay.
Few strikes in wooden mills occur,
but the carpet works about Philadel-
phia are still idle. Shipments of boots
and shoes have fallen almost to last
years figures for August thus far, and
orders are as yet scanty for the new
season, but prices are firm, and leather
e not change, though tanners de-
cline to pay current quotations, 90 to
10 cents for western buff hides.
Crop reports modified expectations
as to cotton and wheat, and cotton
spectators have bought, lifting the
price five-sixteenths, while wheat,
with more evidence of loss in yield,
has declined Ia cents. According to
the government reports, the crop of
each would be about two-thirds of the
maximum. A third of the years con-
sumption of American cotton is still
OF hand, but not a third of the years
consumption of wheat. Receipts for
the week were better, but not half
last years, and in three weeks $685.
531 bushels, against 17,211, 633 bushels
last year.
August earnings of railroads thus
far show. 5 per cent. behind last years,
with loss On nearly all classes. In
July the full returns were 10 per cent,
aud in June 15.2 per cent. below those
of 1892. East-bound shipments from
Chicago for two weeks of August have
been SO. 7i5 tons, against 97,0 3 last
year and 100, 100 in 1892.
The stock market has been quite in
active with a trifiing decline both in
railroad and trust stocks as a whole,
largely influenced from day to day by
financial rumor
Failures for the week were 196 in the
United States, against 229 last year,
and 3S in Canada, against 45 last year.