Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1896-08-13
puN.s oMMERcIAL REVIEW

a Sudden Change In Monetary Conditions
Produced Throughout the Country By
the Sensational Collapse of Spectators
at Chfcago-Imports Decreases and Eek
ports Increase, Easing tae Pressure %
Our Obligations Abroad
New YORK, Aug. s.-R. g. Dun q
Co., in their weekly review OF trade
to-day, say:
The sensational collapse of specu.
lators at Chicago who controlled Dla-
mond Match and New York Biscuit
stocks and had hoisted thern to fancy
figures, with the consequent closing
of the Chicago stock exchange for
period yet indie Finite, 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 its
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 90 of the most
active railway stocks fell about 2 Il
per share, and the average of trust
stocks about 81. So.
1t is important that the increase OF
merchandise exports Ss00,0 or II per
cent. over last year for the week, and
the decrease of imports, 100000 or :. :
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
an extraordinary condition that re.
duces the yield 20 per cent in August
Men of much knowledge and expert.
ence but few days ago judged a yielC
of 10000, 900 bales, and if they were
!, ZOO, 900 bales too high, still those who
now predict only 1000, 900 bales ars
likely to err in the opposite direction.
With large acreage it is always safe to
remember that only part of the
crop is ever affected by misfor-
tunes between August 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 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 &c
keep in operations; 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 and notwithstand.
| ing the lightweight opening, 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
| tioIes decided to maintain prices fol
this month, but the markets are moi
stronger in volume of orders or pur
chhses. Pressure to sell, even at con
cessions is the prevailing rule, and
prices are almost nominal.
Failures for the week have been 24I
in the United States, against 225 last
| year, and 30 in Canada, against - last
| year,