The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1896-08-15
DUN's CONNIE RcIAL REVIEW.

A Sudden Change in Monetary Conditions
Produced Throughout the Country by
the Sensational Collapse of Spectators
at Chicago-Imports Decrease and Ex-
ports Increase, Easing the Pressure of
Our Obligations Abroad.
NEW YORK, Aug. s.-R. G. Dun &
Co., in their weekly review of trade
to-day, say:
The sensational collapse of specu-
lators at Chicago who controlled Dia-
mond Match and New York Biscuit
stocks ami had hoisted them to fancy
figures. with the consequent closing
of the Chicago stock exchange for a
period yet indefinite, though followed
by remarkably few failures, brings a
sudden change in monetary conditions
throughout the country At least a
month earlier than had been expected,
Chicago has drawn heavily upon it's
bank balances here, and Withdrawals
of all other western funds may natur.
ally result. Europe was also moved
to sell American stocks rather freely,
so that the average of 60 of the most
active railway stocks fell about 2.1S
per share, and the average of trust
stocks about 81. SIS.
1t is important that the increase of
merchandise exports $500. 0 or II per
cent. over last year for the week, and
the decrease of imports, 100000 or II
per cent, still continues to limit the
sum payable abroad.
The situation as to cotton is doubt
less critical for many producers. Elk
tremely hot and dry weather has done
serious harm, but it must indeed be
IN extraordinary condition that re.
duces the yield 20 per cent. in August.
Men of much Knowledge and expert
nee but a few days ago judged a yield
of 10000, 600 bales, and if they were
1000, 900 bales too high, still those who
now predict only 10000 900 bales are
likely to err in the opposite direction.
With large acreage it is always safe to
remember that only 4 part of the
crop is ever affected by misfor-
tunes between August l and frost. The
price rose almost beyond precedent, 3-s
on Wednesday alone.
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 a reduction to
the wages of May, 1895, though Mahon-
ing Valley workers do not; the iron
works throughout the country are
striving to cut down cost in order tc
keep in operation; the iron mines Of
the GOgebic range are stopping; the
suspension of cotton mills has become
more general and over four million
spindleS are said to be idle at Fall
River alone and probably three-eights
or more of the entire producing capac-
ity in the country; the rubber works
are mostly stopped aud notwithstand.
ing the lightweight opening, a mum.
Der of wooden mills. Evidently the
working force and also wages have
been reduced.
The iron markets grow less demon
allied in tone, because all the associa.
tions decided to maintain prices fol-
this month, but the markets are not
stronger in volume of orders or pur.
chases. Pressure to sell, ever at con
cessions is the prevailing rule, and
prices are almost nominal.
Failures for the week have been 24t
in the United States, against 225 last
year, and 81 in Canada, against - last
veal