| Show Trade In tho East Those who have long expected severe re ction in the New York stock market say R G Dun Co have now seen the verage of prices thrown back to a lower point than has been touched at any other time for more than four years The l quidation has involved the failure of one large firm of brokers an issue of clearing house certificates to avert the failure of two or more banks while another has ailed disastrously and a severe pressure i n the money market under which several commercial houses have fallen In the prevalent alarm causes are not closely scrutinized so that men are apt to forget the reasonable limitations of disturbance turbance I remains the fact that the legitimate le-gitimate business throughout the country is the largest ever known not much in fated or endangered by speculation and so far sound that complaints in regard to collections have been much fewer than usual The check now sustained may not improbably produce some shrinkage in transactions and diminution of profits but the industrial and commercial conditions have been so favorable that speculative general disturbances business are seriously the less likely to affect Reports from other cities show that at most points the events in Val street have had little or no effect a yet At Boston transactions have been somewhat limited and money is firm at high rates wool sales are smaller 2500000 pounds forthe week but more activity is expected with the opening of the heavy goods season in December De-cember leather i quiet and easier and hides dull and lower but because bark and other materials are strong it i thougnt leather cannot recede much boot and shoe manufacturers are getting the recent advance ad-vance in prices with shipments exceeding last years and lumber is quiet At Philadelphia delphia money is tight and little commercial commer-cial paper offered or selling wool manufacturers are buying more liberally liber-ally with slight advance in some grades leather is strong and the shoe trade larger than last year though less brisk than of late Building is larger than any previous year and operators in real estate sanguine At Chicago money is active at 7 per cent but country banks are sending in funds for forI investment and eastern disturbances are I little felt grain receipts and cured meats equal last years a slight loss is seen in dressed beef butter and cheese and a heavy loss in hides but a liberal gain in wool and lard while trade in dry goods clothing and shoes is much larger with I satisfactory collections No other western point shows disturbance disturb-ance in trade though money i generally close At St Louis the rate is 7 to 8 percent per-cent and the volume of trade large at Cincinnati money is tight but collections very fair the clothing season exceeds expectations ex-pectations and the grocery trade is very good at Detroit money is close at 7 collections col-lections very fair and manufacturing active ac-tive Michigan wheat area showing 4 percent per-cent increase at Cleveland money is tight I collections satisfactory and trade good except ex-cept for clothing at Milwaukee money is close at 7 collections satisfactory and eastern troubles do not check trade at Omaha St Paul Denver and Kansas City money is in strong demand de-mand collections healthy and business good Southern cities make much the same report Baltimore reports all business healthy mills running full and trade brisk with satisfactory collections New Orleans finds money active cotton receipts below last year but sugar and rice liberal with good demand for all Atlanta reports easy money and good trade and Savannah reports re-ports money tight but trade active At Jacksonville earlier northern travel than usual causes activity These activiJ accounts show a remarkably encouraging condition of business but more than the usual scare ity of money in spite of good collections The businegs failures occurring throughout through-out the country during the past seven days as reported to H G Dun Co number for the United States 224 and for Canada 42 or a total of 2GO a compared with a total of 215 last week and 218 the week previous t the last For tho correspond ing week of last year the figures wore 205 representing 235 failures in the United States and 30 in the Dominion of Canada |
