Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1896-08-27
CONDITION OF TRADE
GREAT UNCERTAINTY PREVAILS
IN BIG BUSINESS CENTERS.
LARGE EXCESS OF EXPORTS
And Decrease of Imports Caused the
Recent Phenomenal Variations il
Sterling Exchange, Says Dun
Report of Deficient Yield of Whea-
not Borne Out.

New York, Aug. Pr. G. Duc'z
weekly report says that the political
events of the week had no definite in
fuence upon the business prospects,
for the phenomenal variations in steT-
ling exchange and the beginning OF
imports Of gold may be fairly attribut-
ed to the accommodating excess of mer-
chandise exports over imports, to
which attention has been repeatedly
called, the exports from New York the
past two weeks having been 20 per
cent. larger and the imports q per
cent. smaller than last year. The rapid
movement Of grain and the unusually
early marketing of cotton strongly
aid the banking syndicate which has
undertaken to regulate the foreign ex-
change. Speculation advanced wheat
over l cent during the week, corn
small fraction and cotton q, the
principal motive power being reports
of injury to growing crops. AS before,
UnfdYOraElc accounts respecting wheat
are in come measure discredited by
the continued heavy movement from
farms, western receipts having been
1857, 900 bushels in two weeks,
against 6,706,000 bushels last year
With prices 8 cents lower than last
year, such movement cannot be in
terpreted as a sign of a deficient yield
| The movement of corn continues
heavy, although the price is still
so low that one wonders
why the product is put into cars instead
| of hogs. Some additional heavy fail
ures in the lumber trade calls attention
to the continuing depression which ap-
| pears to result, at least in part, from
/ expectations entertained by many nat
! the unlimited increase in building
during the past year or two would be
| permanent. Iron and steel manufac-
! ture is the only continued depression
to report, and Bessemer pig sells at
! $40. 40 at Pittsburg, while southern
iron is offered at prices equivalent to
/ SO at New York and nearly all fin
ished products are being sold below
current quotations. One bright spot
is the sale of 5000 tons Of steel rails to
Japan for retitting the railways of that
country. Nothing encouraging can
yet be said regarding wooden manufac-
ture, and the demand for goods even at
recent reductions in prices, is still dis
appOintingly small.
Bradstreets' weekly review says that
general trade throughout the United
States is practically confined to staple
lines. The volume of business is nc
larger. Where orders have increased
in number they are smaller in size
In almost all instances they are based
on nearby requirements. The features
of the week are the increased difficulty
in making collections and the higher
rates for mercantile discounts. Credits
are being scanned more closely than
heretofore and granted less freely
Business in the south is retarded by
drCuth. In some sections it amounts
to a calamity. Some of the north
western lumber mills have shut down
owing to the low prices and difficulty
in obtaining money, while the demand
for woOlens for spring delivery is not
yet sufficient to start up the machinery
been received from Baltimore where
business is satisfactory owing to bet
ter southern purchases, based on an
early cotton crop. At Chicago there
is a more hopeful feeling among the
dealers in drygoods, clothing and
shoes, in which sales have increased
Kansas City reports good sales in all
lines and that the rains have assured
large corn and fruit crops in Kansas.
At st. Paul there is a better demand
for hardware and drugs Business
failures in the United States this week
{ number 264 against 1872 during the cor
: responding week year ago. 4 fea-
! ture of the weeks failures is found in
| the number of embarrassments among
| concerns of large capitalization.
( Total bank clearings in the principal
cities of the United States the last
week were $8,211, 1857, 1866, a decrease of
60 per cent. as compared with the
corresponding week last year.