The Middleburgh post. [volume] (Middleburgh, Snyder Co., Pa.) 1883-1916, 1896-08-13
REVIEW OF COMMERCIAL AFFAIRS.
1T WAS A BAD WEEK.
The Collapse in Chicago Made Investors
Timid and Wary.

r. @. Dun 3 Co.'S Weekly Review OF Trade
says:
The sensational collapse Of spectators at
Chicago who controlled Diamond Match and
New York Bulscuit stocks and had hoisted
them 70 fancy prices, with the consequent
closing OF the Chicago Stock Exchange for n
period yet indefinite. though followed by re-
markably few failures, brings a sudden
change In monetary conditions throughout
the country
At least a month earlier than had been ex-
pected Chicago has drawn heavily upon the
Illinois bank balance IN New York. and with
drawas Of other western funds may naturally
result Europe was also moved TO sell
American stocks rather freely, 80 that the
average OF 60 most active railroad stocks fell
about s2.ls per share and the average Of
trust stocks about Sl.ss.
The instant cooperation II money interest
with Chicago TO restrict disturbance deserv-
ed praise and did much good.
IL Is not possible, however. to avoid some
shock to public confidence, and a quick
tightening OF Eastern money markets follow
ed. which already shuts of commercial loans
almost entirely. The collapse also increased
the caution of bankers and other lenders re-
gar1ing loans ON securities of "a similar char
actor.
IL IL importan that the Increase Of mer-
chandisc exports. $500, 200. or II per cent.
over last year for the week and the decrease
Of imports, 100000 or ~ per cent. still con-
tinues 60 limit the sum payable abroad.
In Ave weeks the increase Of exports has
been sI,s00,00O or Ii per cent and the de-
crease oi imports -, 200. 900, or Is per cent.
which helps TO balance amounts.
The movement Of wheat j. again large
Atlantic exports being l.l7Gl ,033 bushels for
the week. flour included. against 1853, $50 last
Z asns. us,.l .ftt.4sH IftlN = lraa alula
against 1. .12s. 9lG last year Conflicting crop
reports are ~ numerous and noisy rs ever
but the more reliable mark up winter wheat
to 800 900. 600 bushels.
The situation a. to cotton l. doubtless
critical for many producers Extremely dry
and hot weather has done serious harm, but
IL must indeed be an extraordinary condition
that reduces the yield 20 per cent In August.
Labor T. more disturbed than usual. The
great strike OF garment workers here has
much extended: the strike at Cleveland has
broken out again. and involves several other
branches Of labor the iron furnace men OF
the Shenango Valley resist u reduction OF
wages. though Nah, ming Valley workers do
not. The iron works throughout the country
are striving 10 cut down cost In Orler to keep
Ia operation: the iron mines Of the Gogcbic
range ar" stopping; the suspension of cotton
mills has become moro general aud over
(. 600 600 -pindlcl ars said to be- idle at Fail
River alone. and probably thrce-cights or
more of the entire producing capacity In the
country. the rubber works have mostly stop
ped, and, Notwithstanding the light weight
opening. number OF wooden mills also.
! T. Eyidentiy, both the working force and their
wages have been reduced.
The iron markets grow less demoralized In
tone, because all the associations decided to
maintain prices for this month, but the mark
cts are not stronger in volume OF orders or
/ purchases Pressure 10 sell, even AT conces-
sions. is the prevailing rule, and prices are
/ almost nominal.