Democratic Sentinel, Volume 11, Number 18, Rensselaer, Jasper County, 3 June 1887 — THE INDUSTRIAL REALM. [ARTICLE]

THE INDUSTRIAL REALM.

At a meeting in Pittsburg the blast furnace men of the Mahoning and Chenango Valley and the Wheeling and Pittsburg districts unanimously demanded a reduction in the price of coke from $2 to $1.53 per ton. Philadelphia stonecutters struck on account of the employment of non-union men in some of the.yards. It G. Dun & Co.’s weekly trade review, issued on Saturday, says: The most important news of the week is that crop prospects have decidedly improved. In view of the great speculation in wheat and cotton, and the false reports carefully* circulated by interested parties, it is of service to know that our own agents telegraph from Wisconsin, “local rains have helped the agricultural districts from Minnesota, “rains throughout the Northwest have very materially improved crop prospectsfrom Kansas City, “prospects are excellent tor exceptionally large crops"; “recent copious rains of great benefit” from Now Orleans ; “crop prospects generally good”; and these are samples of favorable dispatches from nearly all quarters. The fear ot injury thus far seems satisfactorily removed, and if harm to wheat or cotton is to come, it must bo from climatic influences in the future. This good news for the whole country is disheartening, however, when financial psospects have come to depend upon the success of gigantic speculations for an advance in prices of products. The financial future is also affected by the large receipts of the Treasury, amounting for ton months and twenty days to 831,612,867 more than the recepts for the same part ot the previous year. At the same rate the Treasury must take from the markets a very large sum every month after the last call for 3 per cents maturing July 1, and Washington dispatches state that tho administration will purchase bonds with great reluctance, if at all. The last statement of New York banks showed an increase of losses and reserves because Mr. Manning’s new bank was for the first time included,but the drainage of money to Chicago to meet the needs of speculation still continues, the return to that point from the interior being retarded by real-estate and other activity extensively prevailing.