The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-09-28
THE RusINEss sIIUATloss.

pressed by the commercial newsI a.
ipers show how thoroughly the conf
dence which is the life Of trade is OBJ
tanning predominance. The Shoe aud
Leather Reporter says: "The sales Of
merchandise within the ensuing nine
ty days wi in all probability exceed
those Of any former period in the
worlds history. This expectation
seems to be warranted by the facts
that people have been buying spafing-
y SO long that they have not many
goods on hand; that, when they begin
10 take hold in earn sst, they will give
such an impetus to trade that prices
will appreciate" One copst
quence OF the better state
OF things is an Increase in our import
trade; the New Orleans Times says
1--WE have increased our imports aud
fallen of in our exports, change in
the balance Of trade against US of
$10S,0Sl, 100. LAST year the balance in
our favor was $751;. III ,222; this year
IL is but S43 6S9,613." Such a
fact as this should induce us
to regulate our tariff 80 as to increase
our sales in foreign markets. The
South is fully sharing the improve
ment in business. The Baltimore
AanufdciurerS' Record reports: "Ad-
a vices from the South are very encour-
\ aging, and salesmen returning from
4 their travels in that section report a
very marked chsnge in the condition
OF trade, largely due to the steady i'm
/ provement in the cotton crop. South
ern merchants who, six weeks ago,
were more anxious to cancel old
orders than to give new ones, believ-
! ing that business would be very dull,
are now purchasing more freely"
Tennessee is receiving her share Of
the better safe OF things. The New
York Indicator states that in Wall
street "the Eas! Tennessee securities
4 were strong, and will make further ad-
yances, especially the first preferred
stock. A considerable amount Of this
stock ives purchi sed yesterday, and 1t
is expected to touch so early next
week. Tennessee Goal and Iron cold
at 6l3 yesterday. This Is a good in-
vestment &c curly, and will command
a higher price. 1t is splendid coal and
iron property. The table OF clearings
on aur commercial page shows q total
increase last week over the CORE
spending week last year OF 30.6 per
cent. excluding New York the In
crease was 23.5 per cent. The high
figure at New York was the result Of
active Wall street operations, the In
crease outside Of IL gives a fair idea
OF the actual trade improvement.
Worcester is the only place that re.
ports a decrease. The New York
Chronicle reports mo material change
In the money market during the
week" Bankers balances averaged 6
per cent, at which rate renewals were
generally made. Late bank dsfalca-
tons cause close scrutiny Of thai
class OF paper by capitalists. The dis
turbed condition Of affairs in Europe
Ia depressing trade there. Our for.
eign exchange market has been COM
parat.vely quiet, at Use OF a cent a
pound, but more plentiful cotton bills
will soon make the rats cas- er. This !
Chronicle says Cup 10 Tuesday
afternoon fair margin OF profit
existed for imports of gold from
London, Atter tina rates we're
advanced halt cent on that day
that margin was ex ipguished aud
with the further advance on Thurs.
day gold importations were made en- !
tirely impracScable. In FACT, az we have |
often stated, there has been nothing
in trade movements to Justify ship
menis OF gold to America this season,
and while our large increase in inn
ports continues, il gold comes In any
amount, it will be for the payment OF
securities and not for any balance on
merchandise. The Bureau OF S ais.
tics report shows the trade balance
against Us in August was $7,5l5, 0C0;
also, and Notwithstanding that fact,
that our net imports OF Sold for the
month were f4,S36,C00. Hence,if we
deduct $4l2,9c0 for the net silver ,ex.
ports, the balance against us on the
trade statement Of that month
was Sll,939,0OO, Allowing the
usual amount for freight,
interest, and 30 on, the Chronicle shows
that we began September indebted to
the world on our trade movement
more than $4,000, COO. The current
reports OF the railroads ntinue to be
very favorable, the Chronicle reports
fifty-seven roads showing an increase
OF S549,69l, or 10 per cent. Silver is
still the weak point in our finance,
and Mexico and the Ea Iudies are
suffering acutely from its fall in value.
This Vance it has lately experienced
is founded on hopes excited by the
English government having appointed
q commissioner TO investigate its va
carries. 1t is quoted steady at AL in
London, which makes the bullion
value of the silver dollar 74.S cents.
Telegrsms coming in as we write con.
firm the statements made with respect
to trade improvement, and the ad-
vance made in cotton adds to the en-
conragemeut.
A NEW PAVEMENT RyPERIMHkT