Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1896-01-22
IT DISTURBS MONEY
The Bond Issue and Proposed
Tariff Changes.
SPECULATION IS SLUGGISH
Two Leading Commercial Agencies Re
port Trade as Waiting for Flu
ture Developments.

ANSW 1pIhs Jan
Financial Review will say tomorrow:
waiting and narrow conditions have
prevailed in the stock market all this
week. The assurance that the govern
ment bond issue will be fully subscrib
ed does not prevent the existence of a
feeling of suspension pending the clos
ing of bids on February 5. Even with
the notifications embodied In Secretary
Carlisle's circular of last Thursday,
which extends payment after the first
20 per cent in allotment over a period
of three months there is thought to be
reasonable danger of disturbance in the
money market. The dissolution of the
Morgan bond syndicate, announced on
Wednesday last, was no doubt inevita-
BILE, as no reason could be found for its
continued existence. 1t would seem,
however, that this action renders prep
arations to bid for the bonds and to pay
for them after allotment more scat
tered, and therefore more likely to pro-
duce an effect on rates for money, to
say nothing of the probably increased
Withdrawals of gold from the treasury
which would result. Efforts to obtain
gold for bond subscription purposes
continue and a premiu of IL to 81 or
a little higher has been paid for sup
plies, the same rates being also quoted
for legal tenders. Large transactions
on this basis occurred early in the week,
both in specie and legal tenders though
the immediate demand has slackened
and the premium has fallen off cores
pondingiy The anomalous spectacle has
been presented of gold both arriving
from and being shipped to Europe at
the same time, the former movement
being an artificial one, profitable only
on account of the premium referred to
ABOVE
The absence of selling pressure and
improvement of prices for Americans
in London caused a covering of shorts
and some buying by the smaller traders
| during the early part of the week. Lon
| don's purchases were, however, on a
| limited scale and represented the clos
ing of professional bear accounts in
that market, and at the close of the
week the tendency abroad in regard to
| our stocks was less favorable"
DUN'S REVIEW OF TRADE
New York, Jan. 17.-R. G. Dun &
Company's Weekly Review of Trade.
which issues tomorrow, will say:
THE situation could hardly be more
perplexing for business men. Practical
merchants, manufacturers or bankers
can have little sympathy for those who
minimize their difficulties. None doubt
that the government will raise money to
meet its obligations, but how far the
money market will be disturbed or the
treasury reserve first diminished, no one
can say. The business world can not
know as yet how far foreign questions
may upset calculations, though there
seems every reason to expect peaceful
settlement.
1T can not know what may be the
duties on any of the important imports
q month hence. whether imports are
likely to exceed exports and draw away
gold, whether the deficit of revenue will
continue, or what other taxation will
be levied. The failure of the senate to
take any action upon the financial
measures proposed by the president or
those passed by the house affects unfa-
vorably all branches of business. I'm
der such adverse circumstances 1t Is
actually encouraging that the shrink
age in transactions and resulting in
commercial disasters have not been
greater. But four large failures within
day or two indicate that the same
| condition can not continue without
| much embarrassment
Speculation in products was not very
/ active and wheat was practically un-
| changed, though Atlantic exports for
two weeks (fiour included as wheaD,
have been 4.103,1 bushels, against A.
| 273. los last year. Wheat receipts still
make short crop productions ridicu-
| lous. amounting for the two weeks of
| January to 5,421.976 bushels, against O.
/ Ia
| also liberal and exports about five times
| last years.
The pig iron output for the week
| of January was BOT 4s1 tons, decrease
of 1916, or 4.3 per cent In December and
unsold stocks increased 91,l25 tons, or
| over 10000 weekly. while the great steel
| companies whose stocks are not re-
| ported produced in December 3493, 1886
| tons. The production is so far beyond
| the present demand for finished pro-
| ducts that temporary stoppage of many
/ furnaces is expected, yet pig iron is
/ higher: Bessemer about so cents and
| grey and anthracite % cents. although
| finished products are generally weaker.
| with less demand The controllers of
| the coke and ore output are said to have
| agreed to maintain the prices above
| those of 1895, which makes dearer pig
iron, but if orders for finished products
| do not materialize the increased ad-
vance in materials can hardly be main
tained. Minor metals are weaker, with
| copper al 1915 about 500 tons of lead at
| cents and tin at 13 cents.
THE failures for the past week have
been 395 against 37S last year"
| BRADSTREET'S TRADE REPORT
New York. Jan. 17.-Bradstreets will
| say tomorrow:
while the general trade has not
shown widespread tendency to revive
from the holiday depression. there are
| favorable features In a revival in iron
and steel prices and continued heavy
'ereal reports Reports from jobbers in
,taple lines report business low. Trav-
,lers are on the road, but returns are ir-
regular in only a few instances. indi-
eating the usual volume of orders for
spring delivery. Relatively the great
est Improvement is shown in the request
for dry goods, clothing. hats and shoes.
Prints and ginghams are only fairly ac-
tive. with mills at work in spite of the
reduced demand"
WEEKLY BANK CLEARANCES.
! New York, Jan. 1.-THE following ta-