The evening bulletin. [volume] (Maysville, Ky.) 1887-1905, 1896-07-25
REVIEW or TRADE.
x. G, Dun g. Company's Weekly Report on
the Condition of Business.


the Condition of Business.
New York, July 25.-R. G.. Dun q
Company's weekly review of trade says:
The week began with extreme depres-
iion in stock and speculative markets,
owing to the heavy outgo Of gold and
the fall of the treasury reserve below
the minimum. The Populist and silver
conventions caused some apprehension
and large Withdrawals of gold for
boarding were rather feared than seen.
Then came sharp recovery with the
union of banks to turn $50, 900, 900 gold
into the treasury and of international
bankers to control foreign exchange.
The gold reserve has been quickly lifted
above 800, 900 and political events
have helped to clear away apprehension.
Business of all kinds has been consider
ably affected by the monetary condi-
tons and is slower to improve.
The produce markets have been seri-
ously depressed, lard making the lowest
quotations OH record, corn falling to 81
cents, wheat to 6l.75 and cotton to 1.12
cents. There has been slight recovery
in corn, sixteenth i'll cotton, and a
cent in wheat, but the main cause of
low prices remains, namely, prospects
of large crops with heavy stocks Oh
hand. Old corn is coming forward at
about double the rate a year ago, and so
far another big yield is indicated.
Wheat receipts at western points have
been O,275, 257 bushels i'll three weeks,
and against 4,4S9,4 ALB last year, when
the coming crop, if official reports are
to be credited, was larger than it is
now, and Atlantic reports for three
weeks, flour included, have been 4,663,-
l41 bushels, against 2,522 ,O16 last year.
large gain, but not enough TO balance
the increase III receipts. In spite of
contradictory accounts the impression
grows that the crop may as much eX-
coed official estimates as it did last
year. Cotton receipts are as usual in
significant, but new cotton already be-
gins to appear some weeks earlier than
usual, and the prospect for larger
yield grows clearer, though owing TO
over rain development, the quality may
be defective.
Nothing appears of encouragement in
the industries, and there has been "a
considerable further decline i'll the
working force.
The closing of iron furnaces con-
tinues, only three out of i'll the Ma
honing and four or five out of Is i'll the
Shanango valley remaining in blast, and
yet prices fall, as unsold stocks are the
largest ever known while the demand
is remarkably light. Southern No. at
the east is nominally $ll.25 and Penn
sylvania $12, with Bessemers $l1.15 at
Pittsburg and grey forge 1915, but even
these and all prices for finished prod
ucts are shaded TO secure business. The
general decentralization is partly due to
growing belief that large combinations
which still hold up prices can not hold
them long. Nearly all wire and wire
rod mills are closed, sales of nails are
small, bar iron at LIZ Is being largely
superseded by steel at l.05, open hearth
billets are offered below Bcssemer, the
demand for rails is very light, ana the
great structural works at Homestead go
on half time unless orders this week are
better. Miner metals are also weaker.
Textile industries are rapidly rcduC-
ing working force, as the prospect for
future demand does not grow clearer,
and while prices are nOminally un-
changed it is because there is little
chance of business at present. The
state of wooden manufacture appears i'll
sales of wool at the chief markets for
the week the smallest ever known,
only 1870, 400 pounds, Of which S42, OjO
were domestic, against l0,30l, $50 last
year, of which G, 23l $50 were domestic,
Prices do not nominally change, but are
shaded to make sales, and western
markets are weakening some, though
still higher than eastern. Leather Is
inactive and hides at Chicago average B
per cent lower for the week.
Failures for the week have been PSI
in the United States, against 20? last
year, and 30 in CANADA, against q last
wear.