The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1896-12-26
DUn's COMMERCIAL REVIEW.

Receipts OF Cotton Heavy and Prices
II shade Lower-Light Receipts and Ex'
port. OF wheai-The Iron and Steel
Irade-Stocks Weak.
NEW YORK, Dec. 19.-R. G. Dun d
Co. say to-day in their review OF trade:
Cuban reports, unusual c~loseness OF
money in Germany and the decision
that there will be no action on the
tariff at this session have not really
changed the situation, but have been
talked about as if they might change
1t. The holiday trade is generally
large, though at some points more
confined to cheap goods than usual,
and the influence of an increase In the
working force is felt in other ways.
But until the new year the only ma
terial changes expected are such as
prepare for a large business next year.
In the iron and steel industry these
appear of the utmost Importance.
Since events for some months to
come will turn largely on the state OF
foreign trade, it is cheering that pro-
duce exports in November were Sl09,-
O9I ,937 in value. amounting for three
months to S3O7, 1857, nO.o than
double the value of imports, which
were Sl51, 361 ,35l.
The four months excess, which has
brought hither in three months net
imports of gold amounting to SITS, $780,
las, besides establishing credits CO
many millions in London, which vir-
tually pay in advance for future i'm
ports, has not prevented, it is be-
lieved, a special shipping of gold to
Germany next week, for which the
German bank pays a premium
to meet demands January l, sup
posed to be on Russian ac-
count. London affects the shipment
by borrowing more millions here, 50
that the amount of such sterling adj
RANGES is now reckoned at $40. O0O, 900.
More of such borrowing may cause ad-
vance in the rate of interest, realizing
on exchange drafts, of which many
become due before or shortly after
January /, and Il sharper demand on
London than MAJ be convenient. But
with two dollars worth of produce GO
ing out for every one dollars worth
of goods brought in, nothing of au
ordinary nature can cause gold ex-
ports OF consequence. In two weeks
of December exports from New York
have been six per ent larger, and inn
ports here 12 per cent. smaller than
last veal
Exports of cotton are naturally
stimulated by lower prices and on
forced liquidation of important specu-
latiye operations cotton has declined
% IL, recovering to 7-l0 cents; July
Il the price was zoo. Short crop
stories raised it to SO September ~,
and it has now gone back about to the
starting point. Receipts from planta-
tions continue heavy, while CONNER
cial stocks here and abroad are only
about as large as a year ago, when
the movement had been LOO, 900 bales
less.
The demand for goods in this coun-
try falls below the increased produc-
ton. and the market is weak in tone.
with prices of some jobbers bleached
goods sharply reduced.
Speculation in wool has halted, sales
for the week being ), ri, POO pounds,
against !, 1s0,OOO last year. The con
troll of the Messaba mountain iron
mine has been leased for so years or
purchased by the Carnegie interest
from Mr.. j. d. Rockefeller, the ore to
be shipped by his new steamship line
on the lakes and by the new railway
which the Carnegie company is build
ing to Lake Erie. This. with the
erection of 10 new open hearth fur
naces, making SO, ~insures enormous
increase of product at extreme low
cost, and will affect all combina-
tions in steel products or in ore.
The billet pool has practically
dissolved, and sales are reported
at SIG to SIT, the contracts to supply
consumers through most or the whole
of next year. The beam pool has re-
vived and restored the price to Sl.35,
but nails and steel bars are Il shade
lower. The rail association has been
in session, and our Philadelphia dis
patch states that rails were sold at
30, against SIS, SO long maintained.
Bessemer pig and gray forge are a
shade lower at Pittsburgh, Virg inia
and Alabama iron are offered % cents
lower at the east, and with so much
uncertainty regarding great changes
in progress, very little is done in fin
ished products and generally at IN
cessions. A sale of 5000, 900 pounds
lake copper is reported at HI cents.
Coke production is increasing with
contracts reported at Sl.ao.
Wheat rose about two cents Monday,
but declined still further, and closed
one-half 10y er for the week. The re.
ceipts in two weeks have been $685.
49, bushels, against lJ,600,5S7 last
year and Atlantic exports for three
weeks have been, flour included, $751;
144 bushels, against 5,9O7, s24 last year.
Stocks have been weak. Almos: a
panic occurred on Friday, when the
Cameron joint resolution vas adopted
by the senate committee. Spectators
Immediately felt the war with Spain
beginning, and St. Paul, Burlington
and Rock Island broke five poin IS,
while the whole list lost over a point.
Failures for the week have been as7
in the United States, against 377 last
year, and Al in Canada, against 80 last
ear.
Maryland Execution.
UPPER MARLBOROUGH, Md, Dec. II.
james Smith, a mulatto, was hanged
here for the murder of Miss Margaret