Omaha daily bee., 1896-08-15
PAIR OF EVILS co TOGETHER
Deadly Heat and Bryan Apprehension CHECK
Business for a Week.
OTHER CONDITIONS NOW USFAvORABLE
Government Crop Reports Indicated
Damage Labor Troubles Spread
and BANKS Refuse Commercial
LOans-Nothing Hopeful.

NEW YORK, Aug. 14-R. G. Dun & Co.'S
weekly review of trade, which issues to-
morrow. will say: An extraordinary spell
of deadly heat affected trade throughout
the country and In the east speculative
feeling was somewhat affected until Thurs
day by apprehension of the possible in
nuence of the Bryan meeting. With cooler
weather there came also on Thursday per-
ception that the meeting would not affect
business unfavorably.
But other conditions were not stimu-
lating. According to government reports
the crops have sustained serious injury
Labo difficulties extend, and the closing
Of establishments for want of work and the
refusal of commercial loans by banks
checked operations in many branches of in
dustry and trade. The week, therefore,
closes as the last week did with domestic bust.
ness unusually duh for the season. Measured
by clearing house changes it was 5 per cent
smaller than last year. and l5.5 per cent smaller
than in the same week on 1872. the last year of
the full business at this season. The govern
mont crop report for August was so gloomy
that a great rise in prices would have followed
II 1t had been entirely credited. In fact, wheat
rose about half a cent, but again declined, clos
inS only a fraction higher FOR the week. Corn
declined throughout the week. closing over a cent
lower. Cotton advanced a sixteenth. because
Of continued reports OF injury. II is wise to re-
member that the government accounts were
based on returns prior to the fearful spell of
heat. and thence may be more nearly correct
than they were when prepared. But official
and unofficial estimates OF great decrease in
the wheat yield are confronted with a movement
from the farms OF 1850. 74l bu. for the week,
against 2.2s5 22 hu. last year. and it scarcely
seems reasonable to believe that 20, 10000 hu.
would have been marketed since July !, this
year, against l.62j. 262 bu. last year. II the
than a year ago. Atlantic exports. flour in
cluded, Lace, $50 bu., against $50. 3Ol bu. last year.
are not enough to account for the difference
No one now questions the probability Of a very
ton to SIP cents caused large selling and q
reaction, although a turn upward on Friday
took the price to SIS, with moderate trading.
Coke production was reSuCed %. 76i tons weekly
in July and has been further reduced since
August l, while unsold stocks increased ISL
tons in july. The stoppage of a large sharI
Of the Connellsville coke works, and OF man!
lake iron mines is a fair indication that tn,
be gained by reducing the prices OF materials
and the main difficulty is obviously the eNtrem,
narrUwncss Of the demand for finished products
which is so small that mos transactions are a
prices. with Alabama No. 2 offered at S6J
at Birmingham, equivalent TO Si0.2 here. agains
Sll.jO for northern No. 2, the market is no
large enough to support prices OF either. Cope
receded TO its quotations before last week. Til
has been sold below current quotations at sl.3j
with sales Of 500 tons. Lead weakened to S2.75
WoClen manufacture makes little change, 70
not more than a third Of the machinery is nov
running, and the demand for goods does no
improve. although prices Of some irlportan
grades have been further reduced. Sales o
wool at the three chief markets for two week
have been 4,I9l,CG0 lbs, against l4.4IS, $50 lbs. il
same weeks Of 1892. Nor has Improvement ar
peared in common goods. although the curtail
ment Of production for some weeks has bee
great.
Failures for the week have been 2s in tn
United States, against l9G last year. and Sc 1
Canada, against 81 last year.