Business Barometers Used in the Accumulation of Money; a Text book On Applied Economics for Merchants, Bankers And Investors

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Surplus reserves in the New York banks rose to $11,000,000. The English index figure of commodity prices decUned to 2,207.
On the stock market, the listing of new securities, which had amounted to the large figure of $1,122,- 800,000 in 1890, dechned in this year to $476,500,- 000. The Exchange was dull. Ten stocks sold around 115 until the late summer, when they rose to 128. Railroad earnings remained much the same as in the year preceding. Crops, however, were phenomenally large. The cotton c
...rop of 9,000,000 bales sold at $.086 per lb. The corn crop of 2,000,000,000 bushels sold at $.67 per bushel.
The wheat crop of 611,000,000 bushels sold at $1.05 per bushel. These fine crops caused the aewspapers to be especially bullish, and enabled bankers and merchants to keep money rates from advancing further and to bolster up the market in order to unload their securities and merchandise.
In fact, most people believed this a very satisfactory year. Students of fundamental statistics, how- ever, clearly saw that the area of prosperity was about consumed and prepared for trouble.


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