The evening bulletin. [volume] (Maysville, Ky.) 1887-1905, 1896-08-08
DUN'S TRADE REVIEW
Monetary Conditions Affected
by Moore Brothers. Failure.
GOOD INCREASE IN EXPORTS.

Movement of Wheat Again Large-situ-
| alton as to Cotton Labor Troubles.
Failures For the Week.
New YORK, Aug. S.-R. G.. Dun e.
Company's weekly review of trade says:
The sensational collapse of spectators
at Chicago, who controlled Diamond
Match and New York Biscuit stocks and
had hoisted them to fancy prices, with
the consequent closing Of the Chicago
Stock Exchange for period yet indeti-
mite, though followed by remarkably
few failures, brings a sudden change i'll
monetary conditions throughout the
country. At least a month earlier than
had been expected Chicago has drawn
heavily upon Illinois bank balance here,
and Withdrawals of other western funds
may naturally result.
Europe was also moved to sell Ameri-
can stocks rather freely, so that the
average of 60 most active railroad stocks
fell about 50. IL per share, and the aver
age of trust stocks about Sl.SS. The in
slant cooperation of money interests
with Chicago to restrict disturbance de-
served praise and did much good, but it
is not possible to avoid some shock to
public confidence, and quick tighten
ing of eastern money markets which
| already shuts off commercial loans al
most entirely. The collapse also in
| creased the caution of bankers and other
lenders regarding loans ON securities of
| similar character.
q 1t is important that the increase of
merchandise exports, 100000 or IL per
cent over last year for tho week, and
the decrease of imports, 500, 900 or ~
per cent, still continues to limit the sum
payable abroad. In five weeks the IN
crease of exports has been 81, 100000, or
10 per cent and the decrease of imports
So, 200, 900, or Is per cent, which helps
to balance accounts.
The movement Of wheat is again
large, Atlantic exports being l,76l ,033
bushels for the week, -four included,
against 100, $3.50 last year, and siuce July
| /, S,S5S, r04 bushels, against 4, 72S, 9l9
last year. Conflicting crop reports are
as numerous and noisy as ever, but the
more reliable mark up winter wheat to
800, 600, 900 bushels and the movement
tends to sustain such estimates, for since
July western receipts have been II,
633, 1872 bushels, against 9,330,020 last
year. IL is not easy to believe that with
prices 10 cents lower than a year ago
farmers have marketed from smaller
crop 80 per cent more wheat.
Corn is also moving rapidly with
western receipts of 4,S73,09l bushels,
against 1861 ,074 last year.
The situation as to cotton is doubtless
critical for many producers. Extreme
ly hot and dry weather has done serious
harm, but it must indeed be an extra
ordinary condition that reduces the
yield 20 per cent in August. Men of
much knowledge and experience but a
few days ago judged yield of l0,00>
600 bales probable, and if they were
l 100000 bales too high, still those who
now predict only 1000, 900 bales are like
ly to err in the opposite direction. With
large acreage it is always safe to remem-
Der that only part of the crop is ever
affected by misfortunes between Aug.
and frost time. The price rose almost
beyond precedent, three-eighths on
Wednesday alone, and the alarm will at
least be of service to planters i'll giving
them better prices, whether buyers real
ize profits or not.
Labor is more disturbed than usual.
The great strike of garment workers
here has much extended; the strike al
Cleveland has broken out again, and in
} wolves several other branches of labor
the iron furnace men of the Shenangc
valley resist a reduction to the wages OF
May, 1895, though Mahoning valley
workers do not; the iron works through.
out the country are striving to cut
down cost in order to keep in operation
the iron mines Of the Gogebic range are
stopping; the suspension of cotton mills
has become more general, and over
100000 spindles are said 10 be idle at
Fall River alone, and probably three
eighths or more of the entire producing
capacity in the country; the rubber
works have mostly stopped and, not
withstanding, the light weight opening
a number of wooden mills also. Evil
IDENTIFY both the working force and their
wages have been reduced.
The iron markets grow less democrat
lied in tone because all the associations
decided to maintain prices for this
month, but the markets are not stronger
in volume of orders or purchases. Pres
sure to sell, even at concessions, is the
prevailing rule, and prices are almost
nominal.
Minor metals are generally weak, but
prices of coke and coal are held without
variation.
Curtallment OF production in cottons
does not bring stronger market, and O
few quotations are reduced. Sales OF
light weight woolens are disappointing
and mainly for cheap grades, and il
some cases are again reduced. Sales OF
wool for the week were z, 746, 400 pounds
against $3.50, 800 last year, and 9,27l, zoe
in 1899.
Failures for the week have been 24C
in the United States, against 225 last
year, and 80 in Canada, against 43 las,
year.
EoRr WAyNE Aup. S-The Their.