The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-08-07
CONDITION OF TRADE.
NO GAIN IN THE DISTRIBUTION
OF GENERAL MERCHANDIsE
Indicated by BradHireers Weekly
RevIew-The Money Markets
business Failures.

New York, August Especial tele-
grams to Bradstree's this week DO not
indicate any ga in the distribution
of general merchandise. The move
ment Of flour, grain and provisions by
rail eastward from Chicago does not
increase in proportions OF reduction
of Western centeTs, though this is TO
be explained in part by the increased
lake shipments which have rendered
the lake chipping business more
prosperous than Tor several years.
Reports Of earnings OF thirty.fve rail
ways for July aggregated 81, 700, l3l
in 1886, against $l4 ,653,676 in 1888
(thirty-four roads,. The total OF bank
c earlngs at twenty.nine cities for the
current week is $S47 ,429, 1872, against
$7l7, 5S6,67S last week. There has
been a noticeable hardening OF inter
est rates at financial centers owing
b the increased demand from wool,
lumber and clothing dealers, ss we'll
as to advances on grain shIpmsDs. Ex-
ceptlons are noted at Kansas CITY,
Louisville, indianapolis and Cincin-
natl. Rate cutting a. Chic go tend
ed TO depress prices OF railway
stocks, but the marGet is so en-
tirely controlled by manipulation
that an upward tendency was speedily
arranged. Bonds wera strong and ad-
vanced genera ly. Foreign exchange
is extremely weak on better supply
OF commercial bills joined to a free Of.
fering OF stock bills. the total OF
bond sales at the New York Stock Ex-
change was f14,600,000 this week,
against Sl2,000,0O0 last week. Stock
ansacL'ons aggregate l,29L00O
shares this week, against l,029,eO0
last week. The more significant in
dustrial feature OF the week is found in
the improved demand for finished
iron. PlttsbuIg special advices are
that makers are more sanguine than
! for two years past. Prices are u1-
changed, but ths mills are pushed to
| meet requirements. Like reports
come from Philadelphia and st Louis.
Dry goods sales are fairly well sus-
taiued, the aggregate being in excess
of last year. Cottons are strong at
advances. Piints are less active, but
no lower. Stocks of hannels are light.
There is less doing in raw wool, but the
market favors holders. Prices depend
on the results OF the opening OF light
weight fabrics which are not fully
known. There ha, evidently not
been 20 general an advance as expect
ei, though late London and Antwerp
sales have been at full figures. Later
advices from the spring wheat crop
ave more favorable than previously an
ticipated. Heavy receipts continue to
depress prices. The dan age to corn
from drGuth is also less than was re.
Gently repored, the probable yield
being nearly l,600,(00000 bushels.
against o. 5000 bushels last year.
There has been slight damage to the
cotton crop from shedding. The plant
has improved in the Carolnas, Geor-
gia and Alabama. Hot weather has
threatened Central and Western Tex
ss, The Louisiana rice crop promises
to be heavy. The weather OF late has
been uniavorsble to the growth Of the
cane in that State, The price OF sugar
has gone to the lowest point on record
with light demand and with heavy
probable supply. The tea market Is
demoralized under large visible sup
plies and heavy Eastern exports.
The number of business iAilures in
the United States this week was 1924.
against l62 last weak. Canada had ~
this week, az iinst % last.