Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-09-27
MONEY FOR EUROPE.
The United States Is Rapidly Becom-
ing Master of Old World
Finances.

New York, Sept. PR. q. Dun & Co.'S
weekly review of trade says: "Reports
from different cities disclose wonderful
activity at the chief centers of western
trade, the dispatches from Chicago, st.
Paul and st. Louis being especially signtfi-
cant To eastern dealers 1t may be hard
to realize that such extraordinary activ-
ity exists at the west although their own
trade is excellent. Even in eastern mar
kets it is commonly said that no larger
trade has ever been known unless In 1872
but the western cities are running thlnss
much after their own taste this year, haV-
ing greater advantages than ever before IN
heavy bank balances and while the eH-
changes for the week fall below those OF
last year three to five per cent, they are
1871 per cent. larger than in the same week
in 1892.
Europe will have to consider possible
American needs for money much more anX-
iously in the future. Doubtless there has
been for many years feeling that the new
continent could be put off with promises.
But the control Of this country over money
markets in the old world is coming to be that
of a MASTER Our banks lend over there
heavily when it is the most convenient mar
ket for them, but they draw on Europe
whenever they want money, ana no longer
have occasion to limit their drafts.
This country is not drawing on Europe
as largely TO pay for breadstuffs as 1t did
a year ago, and wheat exports Tor the
week, flour included, have been 3,so5'2o4
from Atlantic ports against 3,617,s6S last
year, and 54S, All from Pacific ports against
094 S93 last year, making for three weeks
il. 2O3. 941 from both coasts, flour included,
against l5,569,l29 last year. Prices nave
risen sharply, about four cents for the
week, and the exports OF corn, though not
as large as last year, have been heavy IN
comparison with any other year. The
price is slightly advanced
1.-THE iron and steel trade expands with
rapidity which throws into the shade all
expectations with steel famine in Ger
many and Great Britain in the market for
10000 tons plates. and the American works
are crowded for months ahead New or
ders at Chicago cover 10000 tons tin plate
bars, besides 1000 tons sold at Philadel-
phia. Rails are in such demand that the
makers are to meet with expectation OF
advancing prices, some sales having been
made from Chicago below agreed quota
lions for delivery at the far west. Plates
are strong everywhere, but on account OF
car construction, especially strong at Chi
cago, and the demand for bars on the same
account Is heavy, with one order at Chi
cago for 1000, and several others for tOS
cars each.
Failures for the week have been 173 II
| the United States, against 200 last year
| and 10 in Canada, against rs last year.
Bradstreet's says: Favorable trade De
| velopments manifest themselves chiefly
|
| portance of a large export demand to the
| country's domestic interests is illustrated
by the improved tone, and prices of whea
| and -four this week, growing out of the
better foreign buying induced by less ia
yorable Russian crop reports. smaller ship
| ments from that country and apparently
| continued careful selling by American pro
| ducers. Raw cotton, on the other hand
| reflects probabilities of continued plentiful
| supply and rather slow demand in quota
| lions, lower than the lowest point reached
| in the year of depression, 1884. when
| large yield was coincident with poor trade
industrial troubles and tight money. From
the west and northwest advices continu
| largely In the former cheerful strain Som
relaxation in activity is perceptible in som
lines at large markets, but the volume
trade as whole Is evidently equal to an,
previous record. AT the south low-prtce!
cotton and yellow fever guarantees at
| feet trade adversely. Improvement in on
section being counterbalanced by less ia
| yorable advices from others. FaVorabl
conditions on the Pacific coast are mos
numerously reported in the states of Ore
gon and Washington.' Conservative man
| agement earlier In the year, however, ma
1 resulted in fairly good conditions IN Call
| fornia, where crops were less favorabl
than further north. and failures are dow
| to a minimum"