Springfield daily republic. [volume] (Springfield, O. [Ohio]) 1887-1888, 1888-09-08

NEW YORK, September 8.-R g. Dun &
Co.'S weekly review of trade will say:
Wool and iron industries respond at last,
though with some hesitation yet, to tho
stimulus afforded by good crop prospects.
The news OF the week as to grain and cot
ton has been almost uniformly favorable,
In spite OF some excess of rain in parts of
the South, and little alarm about possi-
bic frosts in the Northwest. Tie foreign
demand for products. though still small, is
improving.
The increased demand for wool Is shown
in higher prices for nearly all grades
Coates circular for September exports
considerable speculative feeling, aud the
average of l0S quotations is now 27.7 cents
against 2l.7 August I. While many manu.
featuring works are still idle. and tile ad-
vance in raw material is largely based on
belief that the clip is much below last
years, there has been q distinct improve
ment in the purchasing by manufacturers,
and in dress and knit goods more activity.
The demand for cotton goods is at present
comparatively light and irregular, but the
belief that no change of tariff will occur
this year removes the chief cause OF uucer-
tainty in the textile manufactures.
In the iron trade also an improving de-
mand is felt in all directions, except in the
market for steel rails. Pig iron is firmer
here, and though some southern iron is
still offered below current quotations. and
four new southern furnaces are To begin
work this month, the tone is iirmer. At
Pittsburg advances Of 25 to 50 cents per ton
are reported Bar and other finished iron
is stronger there, and at Philadelphia the
same speculative disposition in the pig iron
market is noticed. Cleveland also repurts
an improved demand for ore. and better
prices. 1t is doubted whether much adj
vance in raw iron is practicable until rails
are in better demand, and the deliveries Of
steel rails Tor eight months of this year
have been only 10, ,502 tons, against |, ,045,
046 last year. but in other branches of the
trade the demand and feeling have clearly
Improved.
The speculative markets are higher;
wheat nearly cent with sales of "a. 200. 900
bushels. and corn about a cent, in spite OF
excellent reports as to the probable yield
Cotton has risen nearly half q cent, though
the best recent reports from Texas as io
the yield are confirmed. and the injuries
from recent rains in the Mis-
sissippi States and Georgia do not
appear To have been great The
coffee market is half cent higher. with n
better demand. Oil is IAc stronger. and
foreign hides half cent higher. though
city slaughtered hides are quoted lower
Sugar has advanced sixteenth, and lard
nearly half cent though other pork p,O
ducts are steady. aud hogs IOc per pound
lower.
The stock market has shared the upward
tendency, and in spite of some reaction Of
late shows an advance of about half dol
lar per share since week ago the gross
earnings of railroads continue encouraging
and reports of net earnings, though not up
to last years mark. cnme too late 10 I'm
el...a ,l.ss
rates do not cease and the decentralization
is such that the Trunk Line pool and the
Central Traffic Association have practically
ceased operations. Weakness and selling
in important western stocks continue, but
the market improvement in the coal trade
helps many stocks On the whole. how
ever, the situation does not stimulate the
demand for securities offered by projectors
Of new roads. Nor do returns 0f foreign
trade promise the imports of gold whnh
are usually expected in the fall Exports
from New York fall 81. 200. 900 behind last
years for the last week reported. and IL per
cent behind for the past five weeks. 50 that
further excess Of imports over exports IL
indicated.
The accounts from interior cities con-
tinued decidedly favorable. differing from
each other mainly in the rate or extent of
improvement in trade. As to collections
also. while some complaints appear. the
general tenor of reports is more favorable
The increased demand for money has
caused some closeneSs in the market at
baltimore, Cleveland and Nashville but at
most points the supply is ample, and the
demand moderate The treasury has
taken in during the week two millions or
more than it has paid out. but the pay
nents for $1,000, 900 bonds purchased
have not vet been repOrted
Business failures during the last seven
days number: United States 1874, Canada
30, total pa; compared with 226 last week
and LA corresponding week last year.