Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1899-12-26
It Was the Legitimate Result
Of a Good Business Year.
so SAYS DUN's REVIEW
Question Not One of Monetary supply,
but Of Locking Up Cash In Doubts
full Securities-Big Increase
In ClearIngs.

in business ever known. Because the
country had prospered so greatly and
had SO expanded its business it could
no longer afford to have many mill
lions locked up in carrying stocks rep
resenting imaginary values. The ques-
ton was not one of monetary supply.
When the country found ample use for
its capital in regular trade and produce
tive industry contraction of loans be-
came necessary,which would only have
been more painful if the volume of
stocks carried had been larger.
Reckoning from the highest general
average last spring, industrial stocks
had fallen at the close on Monday
$500 per cent and other railroad and
telegraph stocks only go per cent"
After thus referring to the recent
Weekly Review of Trade says of pres
The business of the country close to
it has been. and yet larger than at the
same datS VII any otASA yS"i. -
changes through principal clearing
houses for the week have been SO Z
per cent larger than last year, and 5O.4
per cent larger than in 1892, including
1921 per cent gain in payments outside
New York. There is not even sus-
picion of unsoundness in any consider
able branch of industry or trade, the
extraordinary expansion in some being
o1 In,
in others. &.
Cotton suffered in speculation for a
day with stocks, but the great decrease
over 100000 bales gives strong
support to prices, as does the increase
of 100000 bales in takings by spinners.
The demand for goods is quiet and the
prices hold steady. r.
Wool sales have dropped sharply
with monetary pressure, but prices do
weight goods retards present purchases
for mills.
Yielding appears at last in hides at
Chicago, in most kinds of about one
quarter of cent, with evidence that
recent advances could not be sustained.
Leather has been steady for hemlock
and other sole. but in satin, grain and
kid the demand has fallen off suddenly,
High prices for iron ore are wonder
fully sustained, and though many
works will close for stock taking and
the holidays, while the furnaces do not
stop. pig shows no weakness. Prices
on finished products change little
4 though more concerns have reached
the point of competing for new orders
There is some weakness in sheets, be-
causemany of tin plate mills are to be
closed soon in the east. In plates and
of the largest size competition is sharp
but in bars the demand is somewha,
improved. Structural works have con
litinued their combination for another
year without change in price.
There has been less violent fuctua-
ton in the London market for tin, but
the closing price here is slightly lower
mt 24A cents. Copper declined little in
spite of weak stocks at Boston, while
i lead is scarce and firmer at 4.65 cents
| Wheat has fallen both in foreign de
mand and in prices, in spite of still
the week only 3,3O6,2s6 bushels,agains
i -four included, have been in three
A WGShS Ouly oS
| 15,415,36s bushels last year. The prizes
rose quickly on Monday, when othel
things were falling, but subsequent,
reacted and closed one-quarter of {
Il cent lower.
4 Corn exports are still well maintain
i ed-for the week, 3,729,179 bushels
against 3,S24,s36 last year-thougl
western receipts have fallen off, being
only 9,494,s6S bushels in three weeks
against 13,470,567 last year.
Failures for the week have been 22t
Lin the United States, against 25s las
year, and twenty-six in Canada,againsl
thirty-one last year.
Il Weekly Bank Statement.
i New York, Dec. 23.--By Associated
Press.)lThe bank statement shows
Surplus reserve increased, $3,35s, 900
loans decreased, $3,094, 900; deposits in
creased, 1855 1000. The banks hold $40,
1886, 900 in excess of the legal require
ments.
Marriage Licenses Issued.
i Marriage licenses were issued Satur
day to c. G.. Carr and Miss Mary Eliza
4 beth Morris; Andrew r. Ellis and Mis-!
4 Edna Il. Ray; Marion d. Thorn to Mis-!
! Della McGowan; T.. r. SiclSles to Mis-
iaAddia IT, Crow. .Iohn .TnhnSOn fO Mis-,