Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1900-03-24
SITUATION IN TRADE.
New Monetary Act Has Had No
P~erceptibie Effect Yet.

New Monetary Act Has Had No
Pe~rceptibie Effect Yet.
New York, March 19.-R. &. Dun d
Co.'S Weekly Review of Trade says:
The new monetary act, which was
signed and took effect on Wednesday,
has not affected business perceptibly
as yet. Designed as a barrier against
future harm, it was by some expected
to have immediate influence through
it's provisions regarding bank circula-
alton. While 81, 100000 will be added
to New York circulation, the increase
thus far indicated will be mainly in
terror, affecting the chief monetary
centers only by lessening reliance
upon them when more currency IS
wanted.
The grain movement is fading in i'm
~portance. Corn exports have been in
two weeks only 5,497,102 bushels,
against 7,126,553 bushels last year,
though prior TO March 132,9S2,263
bushels were exported, against 3D.
s54,9s4 bushels last year. Atlantic eX-
ports of wheat in two weeks have
been 3,O09,454 bushels, -four included,
against 6,229,47S last year, and Pacific
exports 2,5GG,077 bushels, against
1,427,376 bushels last year.
While government estimates OF
wheat i'm farmers hands showed a
sufficient quantity, with visible sup
ply to meet, besides all home require
ments, as large foreign demands as
those of last year, and yet leave a
large surplus, there is no reason TO
expect that last years foreign de-
mand viii be equalled. The price adj
vauccd IA cents for II week, and
corr advanced 2R cents.
MANY large iron and steel contracts
a. e mentioned as in prospect, but not
one is closed, except a structural con-
tract for the government printing Of
fee. Much work Is deferred because
Of the builders and machinists' strike
at Chicago, and because of doubt
whether prices can he held with the
output exceeding consumption over
1000 tons per day. Copper is strong
and n shade higher, but large arrivals
have caused some decline in tin. II Is
not strange that higher prices have
been asked for most cotton goods,
with the market for raw cotton bet
ter than it has been since January 10,
1898, and the break in it's price did not
go far enough 10 change the situation.
Sales Of wool have been only 7,323,-
500 pounds in two weeks. Manufac-
turers have such supplies that they
buy only to piece out for special
wants, and the best dealers report
that IA yielding of / cen would be
required i'm order TO affect sales. Quo
~tations are really nominal for lack of
transactions. The mills are still pro-
ducing great quantities Of goods with
out buying wool. Prices of leading
goods have not declined, but others,
both plain and fancy, are somewhat
weaker.
The yielding in satin leather has led
TO considerable sales of mems shoes at
2R cents decline, but the concessions
recently made in boots by makers
who held old stocks Of leather are
now refused, and il is claimed that
transactions in hcmlock and oak sole
have been larger than at a ny time
since November. Most of the makers
are receiving very slender orders. The
market for hides at Chicago is again
weaker, though the decline is not
large.
Failures for the week have been 1913
in the United States, against 1S0 last
wear, and % in Canada, against 30 last
wear.