The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-12-11
The STATE OF TRADE.
A JANUARY THAW IN THE MAR.
KEYS.
A Regular Freshet In Oil and Min.
ing Stocks-A Disagreeable
SOftness Ina Grain.

New York, December 10.-The fol-
lowing is the trade review for the cur
rent week as compiled by r. G. Dun &
Co.: A January thaw" came in the
markets last week, Ia oil and mining
sto ks freshet, which continues. IL
railroad stocks ard grain dissgrsea.
BILE soitness, though the tone is now
more confident. London buyers still
etiffen stocks, aud the rise in silver
c used by Frer Gu coinsg for Tong lin
helps grain, and has started the sptcu-
lative fever N cotton. Stiffness in
some markets is balanced by harden
ing of prices in mos, branches of
legitimate trade, but speculative fail
ures are numerous in San Franc SEQ,
Pittsburg, Chicsgo and New York,
aud to these are added some impor-
ant and numerous small commercial
failures. Dealings here were enormous,
SS. $4,000 bushels whest; S0,0Sl, $50
shares of s.ock, 35 $50 900 barrels Gil
here and 100000 ia one day at Pitts.
bug; $4,000 bales OF cotton, in
Guiding $50 800 in one day.
Wheat had not climbed far and had
not far to fall. The highest price
reached was about 80 cents, against a
November average Of IS cents and "a
cents in October. Corn declined but
little, and lard an eighth, pork pro-
ducts being sustained by decrease OF
So per cent. in Western packing for
half November, owing to the Chicago
strike Cotton receipts for the week
were 1897 bales below last year, but
IS, COO bales larger for the season thus
far, and the price advanced fve-aix.
teenths. Oil collapsed 7 cents in one
day, and Is cents for the week. A
coffee speculation, begun in Europe,
on account Of comi g short crop in
Brazil, lifted the price a full cent.
Iron production December lst WIS
12l, S6l tons weekly, against 1lS 592
tons November LIST, and for elevs n
month has been 4,74l AGO tons an-
thracits and bituminous, while the
British make falls from 1880, 900 tons
last year 10 6,750,000, eRtima ed, for
this year.
The key of the iron market is the
sale Of l,2SS. 961 tons Of steel rails for
this year, OF which the record lie most
significant. No less than 737 1907 tons
went west OF the Mississippi, 39l 1854
east and 1926, 106 tons n'rth, including
450,S25 tons west of tho Mississippi
ord 403, S55 tons south, including 1885,
482 tons west of the river Is ge sales
were made last week at 1856, and pig
is now quoted at $50. Coal lonnsge
for the year thus far has iucrea ed l.S
per cent. for anthrs cite, % per cent.
for bitum;nous and 347 per cent. for
coke over last year.
The rise ia cotton has yet cauEed
but few advances in goods, but exports
have been large. Wool is weaker,
prices yielding a little al the London
sale. In goods the tone is generally
strong, but foreign wolstads are offered
at very low igureg, causing come can
ceiling of orders sales, and tapestry
Brussels carpets have been reduced
q aud % cents.
The drug trade is growing inactive,
with less in prices. Prices hardened
in sugar, spices, tea and canned gods.
Sugar consumption has increased
largely abroad, it is claimed, over
taking the supply.
Exports were small last week, but
for five weeks show an increase Of S.S
per cent, over last year, sgainst 7 5 per
cent. increase in imports. Gold still
comes; $40, 900 during the week,
with 81, 400, 600 more reported shipped.
The Treasury took in $1,300,000 IN
gold, put out 5000 600 in legal tenders,
AID 100000 more in silver certifi-
Gates. Money is generally reported in
good supply, though the demand lie
large. Collections, generally sstisfac-
tory, lag in soms Southern Districts,
and bank clesrings continue less than
last year in that sec ion; little lsrger
on the whole in New Eugland. smallsr
at st. Louis and about the same at Chi
cage, but greatly increased at many
other West IN points.
The business failures during the last
seven dsys numbsr FOR the United
States 252, for Canads %; total, PA,
against 242 last week, and 2l6 The
week previous. The increase notice.
able is mainly in the Southern States,
where tbs casualties are far above the
average in number, il not in impor-
tancn