Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1896-08-27
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 Wheat
not Borne Out.

New YORK, Aug. ZZ.-R. u. Dun
weekly report says that the political
events of the week had no definite in
fluence upon the business prospects.
for the phenomenal variations in ster-
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 81 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 a
small fraction and cotton 5s, the
principal motive power being reports
of injury to growing crops. AS before,
Enfavorable accounts respecting wheat
are in CONF measure discredited by
the continued heavy movement from
farms, western receipts having been
1887 600 bushels in two weeks,
against 6,706.000 bushels last year.
With prices s cents lower than last
year. such a movement cannot be in
terpreted as sign of 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 lulber trade calls attention
to the continuing depression which az
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 az prices equivalent to
$40 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 10
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 no
larger. Where orders nave increased
in number they are smaller in size.
In almost all Instances they are based
on by 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
dlCuth. In some sections 1t amounts
to 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
More favorable trade advices have
been received from Baltimore where
business is satisfactory owing to bet
ter southern purchases. based on an
early cotton crop. At Chicago there
is 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 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 emharrassments among
concerns of large capitalization
Total bank clearngs in the principal
cities of the United States the last
week were sS,211 ,957S66. d decrease of
90 per cent. as compared with the
corresponding week last year.
FOREIGN NOTES.