The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1896-08-29
puN'S COMMERCIAL REVIEW.

Political Events witho Definite Infiu-
ence on Business-Grain Advanced by
Speculation Owing to Reports OF Injury
TO Growing Crops-The Boot and Shoe
and Iron Industries Continue Depressed
Wool Gull.
NEW YORK, Asg. Or. G. Dun &
20. say to-day in their weekly review
of trade:
Failures for the week have been $50
in the United States, against 222 last
wear, and % in Canada, against 10 last
year.
Political events of the week had no
definite influence upon business pros
poets, for the phenomenal variations
in sterling exchange and the begin
ming OF imports OF gold, although fol-
lowing the great meeting in Madison
Square Garden on Tuesday, may be
fairly attributed to the accumulatlnG
excess of merchandise exports over
imports, to which attention has been
repeatedly called; exports FROM New
York for the past two weeks having
been 20 per cent. larger, and imports
here 81 per cent. smaller than last
wear. The rapid movement OF grain
and the unusually early marketing OF
cotton tends strongly to aid the n
ing syndicate which has undertaking
t o regulate foreign exchanges.
Withdrawals of money to the in
terror are rather large, and CONNER
cial loans are hard to place, and this
difficulty checks many new enter
prises and business in many depart
ments. Bank clearings r small for
the week, is per cent. less tina last
year.. Railroad earnings are not as
good as might be expected forthe first
half of August, exceeding those of last
year by only "a per cent.
Speculation has advanced wheat
over one cent during the week; corn a
small fraction and cotton tive-eighths,
the principal motive power being re-
ports of injury to growing crops.
The boot and shoe industry Is rap
idly nearing the end of past orders ex-
cepting in women's grain and butt
shoes, of which there are still orders
for some weeks to come, while others
are constantly received; but in other
branches the new business is light.
Prices are a shade lower. Leather is
weaker with IA smalldcmand, although
restricted supplies have caused a shade
OF advance in some kinds. Hides at
Chicago averaged more than three per
cent. lower for the week again, the
fall in the past five weeks having
averaged about - per cent.
The iron and steel manufacture has
only continued depression to report
and Bessemcr pig has sold at SlO.4O at
Pittsburgh, while Southern No. l is
offered at prices equivalent to $40 al
New York and nearly all finished
products are being sold below the cur
rent quotations. There is rapid cur
tailments of p~roductian, but in spite
of this the supply of finished products
appears to greatly exceed the demand
for them. The one bright spot is q
sale of 5000 tons steel rails to Japan.
for refitting railways i'll that country
which makes IN aggregate OF 45,OW
tons exported during the year.
Nothing encouraging can yet bt
said regarding the wooden manutac
ture, and the demand for goods, ever
at recent reductions in prices, is still
disappointingly small. A heavy auc
ton sale of cotton goods brough
prices which were considered quit
encouraging, and the current deman'
is fairly maintained, although tn
mills are not inclined to make larg'
contracts for the future in view of tn,
rise in the raw material. In genera
the working force in the textile
branches does not appear to have III
creaSel.