The star. (Reynoldsville, Pa.) 1892-1946, 1896-08-12
REVIEW Of COMMERCIAL AFFAIRS.
1T WAS A BAD WEEK.
Tho ccllaps, in Chicago Maao 1nv,stc.s
Timid and Wary.

H. @. Dun 4 Co.. s Weekly Review Of Trade
says;
The sensational collapse OF spectators al
| Chicago who controlled Diamond Match and
New York Buiscuit stocks and had hoisted
them to fancy prices, with the consequen,
closing OF the Chicago Stock Exchange for d
| period yet indefinite, though followed by re-
markably few failures, brings sudden
change IN monetary conditions throughout
! the country.
AT least n month earlier thnn had been ex-
| pected Chicago has drawn heavily upon the
Illinois bank balance In New York, and with
drawals OF other western funds may naturally
result. Europe was also moved to sell
American stocks rather freely so that the
| average Of 60 most active railroad stocks fell
| about S2.lS per share and the average OF
trust stocks about si.8s.
The instant cooperation OF money interest
with Chicago to restrict disturbance desery-
ed praise and did much good.
| II Is not possible, however, TO avoid some
shock to public confidence, and a quick
| tightening Of Eastern money markets follow
| ed, which already shuts oil commercial loans
almost entirely The collapse also increased
the caution of bankers and othet lenders re-
gnrding loans on securities OF a similar char
ncter.
| II is important that the increase Of mer-
chnndise exports, 100000, or IL per cent
over last year for the week, and the decrease
OF imports, s700,000 or ~ per cent, still con-
tinues to limit the sum payable abroad.
In five weeks the Increase OF exports has
been ~, 800, 900 or 10 per cent and the de-
crease OF imports ~, 200, 900, or IL per cent.
which helps to balance amounts.
| The movement OF wheat Ia again large
/ Atlantic exports being 1, 1861 ,033 bushels for
the week, flour included, against 1853, $50 last
year, and since July 1, s,s5S.70i bushels,
against 4, 1913, 9l6 last year. Conflicting crop
| reports are as numerous and noisy as ever,
but the more reliable mark up winter wheat
to 800, 600. 900 bushels.
| The situation as TO cotton ls doubtless
| critical for many producers. Extremely dry
and hot weather has done serious harm, but
II must indeed be an extraordinary condition
| that reduces the Yield 20 per cent In August.
Labor Is more disturbed than usual. The
great strike OF garment workers here has
much extended; the strike at Cleveland has
broken out again, and involves several other
branches Of labor; the iron furnace men OF
the Shenango Valley resist reduction OF
wages, though Nah, ming Valley workers do
not. The iron works throughout the country
are striving TO cut down cost In orler to keep
In operation; the iron mines OF the Gogebic
range are stopping; the suspension OF cotton
| mills has become more general and over
1000, 900 spindles are said to be idle at Fall
River alone, and probably three-eights or
more OF the entire producing capacity In the
country; the rubber works have mostly stop
| ped, and, Notwithstanding the light weight
opening, number of wooden mills also.
| Evidently, both the working force and their
wages have been reduced.
The iron markets grow less demoralized In
tone, because all the associations decided to
maintain prices for this month, but the mark
cts are not stronger In volume of orders or
purchases. Pressure to sell, even at conces-
sions, is the prevailing rule, and prices are
| almost nominal.