Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1886-06-12
COMMERCIAL.
Some Improvement in the Business
World.


AT the principal Eastern cities, while the
volume Of business is somewhat larger, 1t con,
tinues of a hand-to mouth description. One
less business day within the week helped to
reduce the total volume Of transactions. AT
Cincinnati, Omaha, Milwaukee and Louisville
there is reported a distinct gain in the dis.
tribution Of merchandise. At these points
also there are improved demand for fun Is,
particularly at tie more Western cities
named, money going to the interior to pay
for produce.
! Owing to the rains in Texas there Is bet
ter feeling smong merchants there, and at
st. Louis there is slightly more activity in
some lines, with an increased demand for
funds. A feature Of the week Is a decline in
the volume Of trade in Kansas City and par
ticularly at Chicago, where there is also less
request for currency. Collections generally
are slow and ara not likely to improve un-
til after farmers finish fl Id work
! The New Yord stock market has appeared
active. Its strength is still duo to manipu-
iation. Under ordinary circumstances a
war of rates among the granger railways
would have broken the markets several
points During the pest week the strength
of the cllques prevented its causing a ripple.
Governments are quiet and investment bonds
steady. Foreign exchange is high and strong,
with continuance of good shipments. Call
loans are easy at from a to per cent.
Commercial paper is scarce and rates are
slightly firmer
There is preceptible gain in the indus
trial situation. Pig iron is well held for first
grades, but relatively weak for Others There
is no gain in old material or mill iron Rail
mills are well filed with orders. Anthracite
coal is not SO firm as it was q1oted week
ago. Petroleum is still bearish, but certifi-
Gates incline to react on the slightest cncour.
agement from the new well district. The
commission dry goods trade is light, and the
,hbing trade is only moderately active
The tone of the market is better; stocks are
light and prices firm.
Wool is stronger and prices less in buyers
favor in harmony with London and Ant
werp cables. Rumors come from Texas of
short clip, and from Cincinnati that the
tobacco area promises to be 10 per cent. be-
low that Of a year ago. Bradstreet's cotton
report points to a total acreage of II, S64 800
acres against II, 92O 900 acres year ago, the
decline being in Tennessee and the Gulf
States, except Louisiana and Texas. The
Carolinas, the Mississippi Valley and Texas
have increases. The stands and the pros,
pect of the crop are less favorable than a
year ago, when they were good Rains in
sections affected by drouth have helped the
outlook.
The wheat market, after continuing the
severe decline OF last week well into this,
switched about, and an active upward move.
ment has begun, scoring gain of over $40
from the lowest, and closing with No. red
at SIC at New York Foreign markets h ave
refused to follow, believing apparently, that
light stocks in all leading importing and ex,
porting countries are largely offset by fair
harvest already reaped in India, and pros
psctive large crop here.
The total number of failures in the United
States reported for this week is $50, against
no last week, 100 in the opening week in
June, 1885, 1S2 in 1884, 145 in 1883 and 1O4 il