The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-08-14
THE CONDITION OF TRADE
CONTINUANCE OF FAVORABLE
FEATURES.
Increase In Both East and West
Bound ShIpments-The Money
Markets Suffering.

New YORK, August 13.-Special tele-
grams to Brddareet's this week record a
continuance OF toe favorable features
in trade es heretofore noted. The
moderate increase in east bound trunk
liue tonnage, backed by heavy lake
shipments and rail, around Chicsgo,
is significant. West bound shipments
are also increasing, particularly OF dry
goods from New York and Boston.
The movement OF general merchan-
disc at over twenty leading distriD'
uting csnters is reported to be above
the August average in late years, with
q steady improvement noted in many
instances. Stocks Of merchandise at
interior points are reported moderate.
The total OF bank cleaiings at twenty
nine cities for the current week is
$86S, 004 $50, against $849, 1873, 400 a
week ago. A large decrease in the
New York bank surplus, caused by the
demand for fund at the West, put up
the interest for loans to SOC per cent.
This acted as encouragement to bull
speculation in the stock market,
which is feverish and weak. Bonds
are steady and firm, with Transactions
amounting to $40, COO, COO, against $l5,'
C00,000 last week. Foreign exchange
is weak, quotations being on the verge
OF the gold importing point. Com
mercisl paper is scarce, but rates
are quoted higher. Snare trans
actions aggregated Sl,30O,OC0,
sgainet 1,E90,l01 shares week ago.
The stronger money market at NeW
York is reflected at almost all centers,
discount rates being higher and firmer,
in response TO the decline in the sup
ply and increase in the demand Tor
funds. .
Staple dry goods at Eestern markets
are firm and In good demand. Some
cotton brands are i@ac higher per
yard.
Raw wool shows signs OF weakening
after steady advance during the
month past. Some new concession
have been made and makers' taking'
are light. .
There are no changes in iron or steel
Anthracite coal is 15c to zoe higher
only portion OF which has been re-
allied.
Petroleum is depressed under the in
fluence OF increased new well output
and certificates ara lower.
Fears OF serious effects from tn
drouth ave stiffening corn prices.
The actual yield of spring wheat ap
pears TO be in excess OF the quantit
lately anticipated.
Cotton is doing well in Arkansas
Tennessee and the Eastern cotton bel
except Alabama, where worms hav
done some damage. In Texas the he
weather cont ues ~ II has caused,sheC
ding.
Rain is still need in some section
OF the Weste, to l. 20 region.
Special hop cToy eports point to
probable tota crop $1,000 bales i
the United States, 10000 bales in Ne
, York State and the remainder on III
Pacific coast. Cd hops on hand a
gregate 1900 10 bales, and the probab
consumption the coming year Is place
at 100000 bales. The old hops are
= very poor qua ity.
I Sugar is again lower in price, own
= to heavy supplies in sight.
Higher prices for coffee In EuroI
o strengthened spot, but BrddStvePs X
a correspondent reports q larger Gre
i there than last year.
The weeks failures number IL
against 124 last week. Canada hs
It twenty this week and twelve last wee
il The total number in the United Stat
@ this year, to date, is $3.50, against 73'
4. last year.