Springfield daily republic. [volume] (Springfield, O. [Ohio]) 1887-1888, 1888-05-26
ouN,s TRADE REVIEW.

Trade Generally Observation-Disclosures
Prospect Reported More Favorable
: stock Market Depressed by Gold Ex-
ports.
New YoRK, May OR G. Dun & Co.'S.
weekly review of trade will say: Gold has
begun to go abroad in large quantities S.
$4,000 having been shipped since May sth.
In the present state of foreign trade, sus-
pension of foreign investments in this
country involves exports of gold 10 meet
current balances, whether any part of the
foreign capital previously invested here Is
called back or not, but there are indications
of foreign realizing in some securities. The
oheapening of money in this market by treas
ury disbursements for bonds has made the
outgo larger, and the Secretary states that the
price paid will not be advanced at present.
Merchandise exports from New York for
three weeks past fall l2 per cent below last
year, while imports decline about @ per
cent, 80 that the excess of imports for May
seems likely to be not much below last
years and in April that excess was nearly
$ll, ,0DO,OO0. Partly in settlement for bonds
previously offered, the Treasury during the
past week has paid out S., 70o, 900 more than
it has taken in and money here is abundant
and cheap, with moderate sums arriving
from the Interior. The volume of trade
is almost universally unsatisfactory
Dut tne uiildNOraUtc WSdtHcT Is Ill lnDol
cases accepted as the chief cause and some
improvement is reported at Cleveland and
Memphis. In Oregon and South Carolina
exceptional reports represent trade better
than that OF last year; generally decrease
is noted with prevailing hesitation. The
volume of exchanges St3 per cent. below
last years outside of New York, shows an
increase at Chicago, Omaha. Kansas Citv
New Orleans and San Francisco, but the de
crease at Boston is 20 per cent, at st. Paul
and Milwaukee l6 per cent, at Cincinnati
Is, at Baltimore 9, at St Louis and Denver
8. and at Pittsburg and Detroit per cent.
At New York. usual of late, the decrease
is considerable, but largely due to specu-
latiye changes The tendency of prices
has been downward both for securities and
for products. The average for products
was temporarily lifted by the speculation in
grain but has fallen again to q point five
per cent. below the highest for the year.
Wheat has declined three cents with more
favorable crop prospects and sales of 53,-
OOO, 600 bushels here; corn has fallen 2L
cents for the week and oats / cent. Hogs
and lard have advanced Is cents per 100
pounds, and coffee half cent. but cotton
and sugar do not gain and oil is 81 cents
lower than a week ago The de
cline in wool since May the first
has averaged 30 cents per 100 pounds.
Rubber is weaker at al cents Tor new para
Hides continue very duh and leather gem
orally favors buyers, though the movement
OF sole leather has been large this month.
No special activity is seen in the boot and
shoe trade, orders falling below expecta-
tons. Iron is very irregular, since the re
duction to SIS by the Thomas Co.; some
Pennsylvania makers insist upon better
prices, the Lehigh $3.50, and Others Sl9
some Southern makers meet the reduction,
while many Others are waiting develop
ments. Definite, though not greatimprove
ment in the dry goods and grocery trades
Agents have advanced prices of many
grades of sheetings and the demand for
staples presses close upon the supply. In
woolens, there is better feeling rather than
actual Improvements The distributive
movement in groceries has increased end
holders are more confident 1t is to be no
ticed, however, that in New York whole
sale trades there is rather more complaint
of tardiness in collections, and the increase
in the number of failures-777 thus far
in May in the United States, against S93 for
the same week last year, indicates
that the over confidence of last fall and
winter was in some cases ill judged. The
stock market has been depressed about 81
per share by gold exports and by liquida-
tions in some prominent stocks but Wig
orous rally began Friday morning. Rail-
road earnings continue decidedly satisfac-
tory. Bat crop reports, while more
favorable, do not indicate anything like n
full yield of wheat and the uncertainties of
action still affect unfavorably
many branches of industry and trade. for
business can adjust itself 70 almost any GER
tainty bat to uncertainty III cannot ad-
just itself Business failures during the
past seven days number for the United
States. 213; Canada. II, total, Dds; compared
with 1S9 last week and l75 for the CORES
ponding week of last year.