Ottumwa semi-weekly courier. [volume] (Ottumwa, Iowa) 1899-1903, 1899-08-08
F FAILURES
ARE SMALL
London Recognizes the Super
Tor Financial Power Of
America.
CAN'T GET GOLD IT NEEDS
Exchange Moves to Importing Point
and Heavy Bills ON Produce ship
ments Are to be Met-The
Weekly Reviews.

New York, Aug. 5.-"July failures
have been smaller than in any month
OF which there is record excepting May,
and trading failures smaller than in
any other month. Surprising contrasts
are shown by comparison of small with
large failures in different years. In no
class OF business, without some large
failures not attributable to present in
huences, does the aggregate equal the
average of the last six years.
London again recognizes the finan-
cial power of this country. The Bank
OF England virtually admits that it cam
not draw from New York the gold it
needs; exchange moves to the import
ing point; over s1,OOO,OOO starts from
Sydney TO San Francisco; London's
net buying of stocks has been 10000
shares, and bills against produce to
be shipped are very heavy"
Heavy European Demand.
The above statements, tending to
show present business conditions in
the United States, are made in r. G.
Dun g. Co.'S Weekly Review of Trade,
issued today. The report continues:
This describes revolution in fl
nances not unlike that in industries.
Europe is searching for wool here at
so cents secured and for, pig iron at
500 per ton. A vast demand for both
materials has fallen upon the com
mercial world which this country alone
appears able to meet for its own needs.
Wool shipments from Australia have
been surprisingly little below those of
last year, but Europe talks of a wool
famine, while this country has on
hand a years consumption or more
besides this years clip, and prices are
not yet as high as they We're in Feb
ruary of last year, when stocks were
many million pounds larger. Chevi-
OTIS and some other goods are higher,
but the average has advanced slightly
less than the price of WOOL
Cotton goods are unchanged in
price, with cotton still at Gig cents,
heavy surplus stocks rendering crop
uncertainties powerless TO effect an
advance.
Scarcity of Bessemer pig has caused
two steel works at Pittsburg to stop
day or two, and $21.25 to $21.75 has
been paid for 10000 tons, with $17.75
for gray forge and rise of so cents
in local coke at Chicago. 1t is no lon
ger "a question whether enough can be
had after a while. The trouble is
about early supplies. Orders for plate
and structural work are refused at
most points, mills having work far
ahead, and for sheets also at Philadel-
phia, though new and large mills
make things easier in plates at Pitts
burg. Bar iron is in great demand in
stead OF steel, being So to 81 cheaper,
and new eastern mills get all the bus
mess they want. The magnitude of
the demand, in spite of high prices, is
everywhere surprise.
Once more Connellsyille eclipses it.
self, with only $50 ovens idle. and
1,541 tons of coke produced for the
week. Tin was raised by London to
the breaking point, 80 cents here be-
ing followed by s1A, but copper was
firm at 1874 for lake, though the Lon
don visible supply reached $4,000 tons,
the largest since 1897. Lead was quiet
at AGO cents.
Big Receipts of Wheat.
Orders for boots and shoes are not
SO large as they have been, and yet
are numerous enough to make good
aggregate.
Wheat weakens, yielding cent with
the astonishing receipts at the west
4,7S4,363 bushels for the week,
against 3.199,543 last year, and s3,5ss,-
1s9 bushels since June, against 1O,5Os,-
s76 last year. Atlantic exports for the
weeks, 765,7s7 bushels, flour included,
against 3,026,731 last year, and 12,12l,-
370 since June, against 1O,354,951 last
year-continue to support hopes of
great foreign demand, with Pacific eX-
ports for the week 355,020 bushels,
AGAINST 614,916 last year. Not less po-
tent in that regard is the shipment of
4,O03,497 bushels corn for the week,
against 1,734,347 last year, and 1885,
01S bushels since June, against $780,
80 last year.
Failures for the week have been 1872
in the United States, against 1876 last
year, and twenty-three in Canada,
against twenty-one last year.
Bradstreet's:
Wheat Gncluding four shipments
for the week aggregate 4,711,614 bush
els, against 3,366,432 last week, ALL
312 in 1898, 3,3Os,477 in 1897, 2,747,s50
in 1896 and 1,150,563 in 1895. Since
July / this season the exports aggre-
gate 1s.50s,906 bushels, against 1926
122 last year and 11,655,O24 in 1897
49,
Corn exports for the week aggre-
cate 5,027.706 bushels, against $780,
800 last week, 2,S56,923Ia year ago, 3d.
223,Ss5 in 1897, 1851 ,4s3 in 1896, and l.
106,770 in 1895. Since July 1, this sea-
son. the exports aggregate 21,045,2O
bushels, against 1854, 1902 a year ago,
and 12,461,20 in 1S97-9s.
HIarshalItown Burglary.
Marshalltown, Aug. g. Early
W.. "A. go