Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1899-09-27
) BUSINESS SITUATION.
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ChIcago Correspondence:

Chicago Correspondence
The changed condition of the money
| markets has been the principal topic of
| discussion ia both commercial and fnan-
cial circles this week In New York
rates for both call and time loans have
been sharply marked up. and there nat
urally have been at least sympathetic ad-
ysnceS in all of the large centers. There
is doubtless good deal that is purely
artificial in the money situation at the
moment. but at the same time some le-
gitimate reasons exist for an advance in
rates over the level prevailing few
weeks ago The movement of the crops
and the steady expansion OF general bus
mess are both calling for much larger
use Of money. and as is always the ease,
particularly at this a<on of the year,
New York is heing drawn upon TO furnish
certain proportion of the necessary
funds
The effect of the higher rates for money
have been felt principally, and in fact
almost entirely in speculative circles. In
the stock markets there has been sharp
decline III values, amounting in some
cases to ST aud 81 a share, in consequence
OF the liquidation that has accompanied
the calling of loans 10y the banks. l.eSti-
mate business interests have not as yet
felt the influence of the advance in money
rates to any appreeable extent. There is
no stripgercy in the ordinary sense of the
term. SO far as they are concerned, COM
mercial borrowers having no difficulty in
getting all the funds they need on time at
rates which, all things considered, cannot
be called ii all hurdenSome.
In the general business situation no
really disappointing factors have come to
light during the last week. All of the
leading railroads report shortage of
cars with which to carry the enormous
volume of freight pressing for transporta-
tion. Manufacturing plants are still far
behind on their orders and prices are he
ing maintained on their highest level No
weakening in selling values is anywhere
dsceraible and consumption continues on
an extraordinarily large scale.
The bulls in the wheat market had
cause for dissatisfaction this week. With
two important matters in their favor the
prices VIE a trite lowe. at the close of
the market Saturday than at the end of
the previous week The Government
crop report. issued Monday, was alto
GtALtE III lHt4F IHNpF, anu tue NbllN sup
ments of wheat and flour abroad were
very liberal. \ small crop. as less than
800 100000 bushels is now regarded. and
a heavy export business, were insufficient
10 sustain prices in face Of large stocks in
commercial channels and weekly addi-
tons to their amount Argentina shipped
to Europe this wee, over 1000, 600 bush
els of wheat. compared with no shipments
the corresponding week last year. and
thus to that extent compensated for APP
pretended small contributions from Rus
sia and the Danube. which. as regards
the first, at least. is by no means assured,
Notwithstanding failure of the crops in
important districts of that great empire.
The bulls in wheat have been buoyed by
the hope of greater outside speculation as
a result Of some evidence of waning in
terest in stock investments, but that has
50 far failed them.
An abundant corn crop is now assured,
aud owing to the recent warm, dry wealth
or will be ready for use and shipment
much earlier than in ordinary seasons.
That state of the weather has also dried
up the pastures and caused an unusual
consumption of corn, and as the climatic
conditions in Europe have been of sim
liar character the demand for export has
maintained its previous activity, 50 that
there has been no reduction in prices, and
the future is full OF promise for good re-
turns TO the growers. well in the mat
Ter Of prices as Of yield.