The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1896-07-04
pUN'S COMMERCIAL REVIEW.

The Monetary Market Awaiting the Chi,
cago Nominations and Action on the Sill
YER Question-Many Cotton Mills Closing
Down-Good Crop Reports Cause a Reac-
tiOn in Wheat-BOot and shoe Industry
BoOming-Leather Lower, Etc.
New YORK, June Pr. e.. Dun 81
Co. IN their commercial review to-day
say:
Failures for the week rave been 2l7
in the United States, against $50 last
year, and "a in Canada, against % last
year.
The monetary outlook is not yet
clear to some. The strength shown
in recent conventions by advocates of
silver coinage and expectation that all
the elements favoring that policy may
yet be concentrated, incline men to q
waiting attitude. The uncertainty re-
tards Improvement, Notwithstanding
the more widely prevalent feeling
h a the monetary action of the ST.
Louis convention will be sustained by
the people.
But many mills have waited as long
as they can with safety and signatures
have been given cotton mills of Fall
River to insure a temporary ~stoppage,
it is said, the nature of which Is I'M
der discussion in conference with the
Providence manufacturers. Mean
the Naumkeag. of Salem, have closed
for Il time and practically all the
southern cotton mills will be repre-
scented at a meeting on Monday with
the same object.
Wooden mills are active without con-
cert, but IA are mentioned in dispatches
as having closed this week. There is
no similar movement in other indus
tries, though the period of summer
closing is at hand in many of them
and important controversies as tc
wages of iron puddlers and other hands
make it likely that the annual stop
page in that industry may last longer
than usual.
The weakness of wheat, which has
declined 2.10 cents, and of cotton,
which is an eighth lower for spots,
though less for futures, have full ex-
PLANTATION in decidedly good crop pros
poets.
1t may be doubted whether the boot
and shoe industry has ever been in
better shape on the whole, though
manufacturers complain hat an adj
vance in price is necessary, which
dealers are very reluctant to pay.
Leather is. slightly lower for kinds
not controlled by the Leather COM
pany, and at Chicago packer hides are
steady, while country have advanced
a shade with small receipts. Copper
is held at IL IS cents. Lead is harden
ing at 3.O5 cents, and American tin
plates are well sold at - cents below
foreign.
The great combinations which, the
Iron Age wisely reasons. tended to
cause d~isastrously low prices hereto.
fore, still controls the market, both for
material and finished products of iron
and steel, though it is reported that
lower prices will be soon made for
coke, owing to better utilization of
products, and for nails, owing to
heavy decrease in consumption. The
billet pool reports no large sales, but
middlemen or outsiders continue to
undersell them.
The new demand for finished prod
ucts is very light, and while quota
tions average a shade lower, most OF
them are cut to secure business
Bessemer pig is a shade lower a:
SIP. 25 at Pittsburgh
The textile manufacturers, as has
been said, are generally devising cur
tailment of production, and the only
change in prices is downward.