Tensas gazette. [volume] (St. Joseph, La.) 1886-current, 1896-08-14
DUA's IRAlE REVIEW.
Banks Dsg On Balances / Month Earlier
u Than Usual, !
DIAMOND MATCH COLLAPSE THE CAUSE.
Movement of Wheat Large = Corn
MoHns Rapidly--Cotton Goes 2-s
Of cent--Labor World Much Dis
tfbed.

tlG. Dun & Cos. weekly review of
trdle says:
The sensational collapse of specnla-
tds at Chicago who controlled Dia-
nond Match and New York biscuit
socks and had hoisted them to fancy
prices with the consequent closing of
ihs Chicago stock exchange for Pc
tiod yet indefinite, though followed by
Remarkably few failures, brings a sud
den change in monetary conditions
throughous the country. At least a
month earlier than had been expected
|Chicago has begun to draw heavily
upon the Illinois bank balances in New
York and Withdrawals of other Western
funds may naturally result. Europeans
were also moved to sell Americans
rather freely, SO that the average of
sixty most active railroad stocks fell
about $2.18 per share and the average
OF trust stocks about S1.8S. The in
slant corporation of money interests
In with Chicago to check disturb
ances deserved praise and did much
good, but it is not possible to avoid
some shock to public confidence and
quick tightening Of Eastern money
markets which already shuts off COM
mercial loans almost entirely. The
collapse also increased the caution of
bankers and other lenders regarding
loans on securities of. similar charac-
ter. 1t is important that the increase
OF merchandise exports $500, 900, or
IL per cent over last year, for the
week, and the decrease of imports
$500, 900, or 7.8 per cent, continues
to limit the sum payable abroad. In
five weeks the increase of exports has
been "a, y 800, 900, or 16 per cent, and
the decrease of imports So, 200, 600, or
Is per cent, which helps to balance
accounts.
The movement of wheat is again
large, Atlantic exports being 1761, O33
bushels for the week, -four included,
against 1884, last year, and since
July 1 S,S5s, 704 bushels, against
4, 72S, 919 last year. Conflicting crop
reports are as numerous and noisy as
ever, but the more reliable mark up
winter wheat to 800, 1000, 900 bushels,
and the movement tends to sustain such
estimates, for since July l Western
receipts have been IL, 633, 1872 bushels,
against $3.50. 010 last year. 1t is not
easy to believe that prices are ten
cents lower than year ago. Sellers
have marketed from smaller crop 80
per cent more wheat. Corn is also
moving rapidly, with western receipts
of 4,873, 091 bushels against /, 661, Og4
last year. The situation as to cotton is
doubtless critical for many producers.
Extremely hot weather has done seri-
GUS harm, but it must indeed be an ex-
traordinary condition that reduces the
yield 20 per cent. in August. Men of
much knowledge and experience but
few days ago judged yield of 10, OOO,-
600 bales probable and if they are
j, ZOO. 900 bales too high, still those
who now predict only 5000, 900 bales
are likely to err in the opposite direct
ion. With large acreage it is always
safe to remember that only part of
the crop is ever affected by misfortune
between August l and frost time. The
price rose almost beyond precedent,
to on Wednesday alone, and the alarm
will ct least be of service to planters
giving them better prices, whether buy
ers realize profits or not.
Labor is more disturbed than usual.
The great strike of garment workers in
New York has much extended; the
strike at Cleveland has broken ont
again and involved several other
branches of business. The iron fur
mace men of the Shenandoah valley
resist the reduction OF their wages to
the rate of May, 1895; the iron works
through the country are striving to cut
down the cost of operation. The
miners of the Geogbec range are stop
ping; the suspension of cotton mills
has become more general, and over A.
900, 900 spindles are said to be idle at
Fall River alone, and probably three
eighths or more of the entire produc-
ing capacity in the country. The ru5-
Der works have mostly stopped and SO
have number of wooden mills. Evil
IDENTIFY both the working force and
their wages have been reduced.
Failures for the week have been $40
N the United States against 225 last
rear, and 80 in Canada against 43 last