The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-06-16
TRADE STILL HESITATES.
LAST WEEKS IMPROVEMENT
ONLY A LITTLE FURRY.

Belief That the Government Won't
Be Able to Make Large Purchases Of
Bonds at Reasonable Prices-The
Crop Prospects Fair - Failures Still
Numerous on the Slope.
NEW YORK, JuneI15.-R. G. Dun & Co.'S
review of trade for the week says: The
moderate Improvement in trade noticed a
week ago does not yet seem to be more than
the slight reaction which occasionally
breaks period of uncertainty and COM
parative inactivity. When purchases are
curtailed for a time the continuing con-
sumption is apt to produce fitful activity at
times, but signs of lasting improvement
in trade do not yet appear. Uncertainty
still prevails and buyers are conservative,
combining their transactions to immediate
wants in most branches of business. In
some, moreover, the cold and wet spring
has so far curtailed trade that retailers are
carrying over stocks larger than usual
There is uncertainty about the tariff and
its effect upon many branches of manu-
facture, about the crops and the foreign de-
mand for expOrtable products; about trans
portation rates in the near future, and
about financial prospects
CROP CONDITIONS.
Crop prospects have not changed for the
worse but the extent of the loss in winter
wheat is more definitely realized, while the
prospect as to spring wheat and other crops
Is necessarily vague. With favorable
weather the general result would probably
be fair, and in some quarters decidedly
hopeful feeling begins to prevail. Wheat
ls - cents lower than week ago, corn
2 cents lower and oats, hogs and lard each
fraction lower cotton has risen 1s cent, but
because of figures regarding the European
consumptio and not because of any change
in the crop prospects. Coffee speculation
does not favor holders and heavy realizing
has depressed the price l cent. Oil Is also
/ cent lower, and want of confidence in the
near future is the prevailing tone in all the
market. This cannot be attributed to
financial influence, for money is over
abundant and quoted at l per cent. here,
Notwithstanding renewal of gold exports.
BOND BUYING.
The treasury has raised its prices paid for
bonds, taking a large amount one day, but
the only considerable offers since have been
$2,0O0,000 at an Is above the limit TO-
As aud and like amount g
above its limit for 411s. There is a grow
ing impression that bonds will not be forth
coming at acceptable figures if it become
important for the treasury to make largs
disbursements. During the past week the
treasury has taken in 81, 500 600 more than
it has paid out, but the banks still receive
some money from the interior.
though at some northwestern points
money is now going into the country and
not to the east. There is no report Of
stringency or closeness anywhere, but
complaints of slow collections do not
diminish.
INCREASED EXPORTS.
The exports of the principal products in
May were larger in value by 10 per
cent. than in the same month in 1887, but
because of the heavy cotton shipments
the exports from New York for the past
two weeks show a decrease of 10 per cent,
with a slight decrease in imports
1t is natural that weakness and dizziness
in stocks should prevail in such a state of
trade, but the decline in prices has not been
great, and there are some signs Of recovery.
The iron trade has manifested no i'm
provement, though sales of $4,000 tons Of
steel rails are reported for $50 at the mill,
and the allotment is said to be disregarded
by some eastern makers. Southern pig is
quoted at SIT for No. 1, but the quality is
not in all cases found satisfactory. Bar
iron is weaker with 81 IS to 81 50 quoted
for large lots of the best refined.
THE DRY GOODS TRADE.
In the dry goods business there is lack
of activity, and yet in cotton goods more
confident feeling, with print cloths higher
at 3. 81 and low grades of bleached goods
very firm. Woolens are still dull, with
very good transactions for mems goods, and
wool is quoted lower at Chicago. Specula-
tors have bought considerable quantities of
southwestern wool in the belief that there
will be no change Of duties, and hold at
prices above the market.
The spring trade in wholesale clothing
does not appear to have been very satisfac-
tory, and it is believed that retailers carry
over unusually large stocks, though prices
have been remarkably low.
The business failures occurring through
out the country during last week number
for the United States 209, and for Canada
%, total of 232 against 235 last week.
Failures are still unusually numerous on
the Pacific coast, the number from that sec
tion this week hainp 40