The daily silver state. [volume] (Winnemucca, Nev.) 1903-1907, 1903-09-22
TRADE WAS
SCARED BY
COLD WAVE
Business Received a Setback
Last Week on Account of
UnfavOrabIe Reports
FINANCIAL CONDITIONS GOOD
Bank Clearinss Make Fine
Showing Factories Are
Well Employed

If there was any distinctive feature
to trade last week it was the weather
scare that swept over the east ana
middle west, says a writer on trade
conditions in the Call. Excessive rains
flooded the grain fields in number of
states where the grain was In shock
and prevented the final harvesting In
a great many important districts, the
area thus affected being 300,000,0G0
acres. To aggravate the situation what
was said to be the worst frost ever
known under similar crop conditions
came along about the same time, and
that with the excessive rains and wide
spr cad killing frost it looked for a day
o. so as if the yields of both wheat
and corn would mean decreased rail-
road earnings and corresponding de-
preston in Wall street, less purchas-
ing power in the great area known as
the wheat and corn belts. smaller
demand for merchandise there and a
cent? action of credits. OF course this
has its effect on stocks and general
trade as well. Wall street paused,
awaiting developments. But happily
the scare passed over with far less
damage than apprehended and by Sat-
day the country was breathing cas-
ier again. A 2,O00,O00,0O0 bushel corn
crop was practically assured, which
means a great deal to the country.
The.e was an unfavorable feature at
tendant upon this reassuring news,
however. 1t was decline in the stock
market, where a buoyant tone had
been confidently expected to follow the
passing OF the crop scare, and it was
disappointment to the street That
stocks should go down in the face Of
such a cheerful reversion of condi-
tions was not only bearish but rather
gloomy. 1t was the general opinion
that the public were selling to realize,
e4pee4aI4y as there was a whisper float
ing about the street that the public
might look for the disintegration In
the not distant future of several large
Industrial syndicates put into opera
riGn several years ago by certain large
banking interests. No names were
mentioned, but the whisper had its ef-
feet just the same and the pubic sold
of the market, crop damage or no
crop damage.
AS lar as distributive trade is con-
celned the best reports now are from
che Pacific Coast and the southwest.
or a long time the northwest sent in
excellent reports, but those from that
quarter are now deteliorating. Bad
weather along the Atlantic Coast has
aAso given trade tempo. airy setback
Al that region. The manufacturing
interests, however. report plants well
employed as a rule. Even the textile
mills, wnich have for months been lag
ems OeAIAd, are now reporting tne
"neelS gong brlskly. Structural ac-
eINlty seems to be reviving some
what aId tne demand fOr lumber Is
repor,ed good in most sections. Iron
a4Iu steei quotations continue weak,
with scattering recessions every few
aays, and tne nils report Ie~er o.d-
ers on their books than at this time
.ast year, though the trade cannot be
called dull by any means. Provisions
have received check at Chicago and
the recent buoyancy there has been
succeeded by quieter and easier mar
ket. The other stap4es present no
new features worthy of mention.
The financial size OF t.ls Commercial
situation looks we'll. Fall is upon US,
lhe eaIl for funds to move the crops
the west has begun and thus far
there is no friction. Secretary Shaw
has sent some of the internal revenue
money into the west to help things
along, and as the western banks have
been setting aside funds for crop for
warding for some months the calls on
New York are fewer and for smaller
amounts than in former years. The
west is growing more able each sue
ceeding year to furnish its own funds
for sending the crops forward. but
New York has still the bulk OF the
burden, though the western banks
have relieved the tension consider
ably this season. Next year they will
probably do more in this direction.
he courtrys bank clearings made a
better showing last week, the loss
from 1902 being reduced from over
40 per cent for the preceding week to
27.1 per cent as compared with 1902,
with the gains and losses about equal
w distributed among the dozen or
fifteen large cities. The failures for
the week were 2l9, against 1879 for the