Springfield daily republic. [volume] (Springfield, O. [Ohio]) 1887-1888, 1888-06-09
BUSINESS BETTER.


Good weather and Fair Prospects OF Crops
Cause an Actual Improvement In sales
r G. Dun h Co.'S Review of Trade.
NEw YoRK, June 9-R. G. Dun x Cos
weekly review of trade will say: There Is
better feeling in business circles, and in
some quarters actual improvement in sales
| though on the whole transactions do not
equal those of a year ago. The better FEEL
ing is due in part to more seasonable
weather in part also TO growing impress
sion that no disturbing changes in tariff are
likely TO be made this year, but more large
ly to the decided improvement in crop
prospects.
The outlook as TO cereals improves
steadily, so that there is now reason TO hope
for large yield of all grain except wheat,
and for yield of wheat exceeding DO .OOO,WO
bushels or more the estimates of month
ago. provided the weather continues fairly
favorable. The annual report Us to acre
age and condition of cotton, by the Finan-
cial Chronicle. indicates an increase of 2 per
cent in acreage, with condition on the
whole rather more favorable than a year
ago Atlantic States and Texas appear
rather less promising but in the Mississippi
Valley all accounts agree that the prospect
is better than AT this time last year.
Another encouraging feature Is the increase
in output OF pig iron, which is not large
DuI any lllCTSetSt nAth thS ~"
prices now prevailing is significant Par
tial reports show gain of 2,S33 tons in
weekly output since May lst, due mainly
to the opening of three large furnaces in
Alabama. With this gain, the output is
still q, 600 tons smaller than November lst,
but no advance in prices has occurred, and
a weekly production of 10000 tons with
only S1S obtainable for No. foundry, would
have been considered impossible in any
previous year. The market for steal rails
show no change, and while he sales OF bar
iron are little larger, prices do not
strengthen. For other than the best grades
of pig iron, the market seems on the whole
weaker, and reports are current that the
production will soon be suspended at q
number of furnaces. The copper market IS
unchanged, though an extensive caving
lessons the output of the Anaconda mine;
Tin is weaker, with accounts of deteriorat-
ing quality in banca, and lead has been de-
cidedly weak.
The grain market has declined; wheat 1c,
corn pic and oats &c, while lard Is quar-
ter higher and pork unchanged. The i'm
proved crop prospect, both in the Mississip-
pi valley and the Pacific States, at present
outweigh the moderate increase in pur-
ehases of wheat for export. Corn and sugar
are unchanged III price, and coffee has
yielded a quarter. Dairy products have
recovered a little from the depression of
last week, but oil had declined &c. Views
of holders and bidders are so far apart as to
new wool that prices are hardly settled, but
such quotations as appear indicate lower
averge. The general range Of prices of COM
modities is about half of one per cent
lower than week ago.
In the stock market a small recovery in
prices has occurred, but dullness prevails.
Good reports of earnings are balanced by in
creasing rivalry between lake and rail
routes and between western trunk lines The
quick absorption of large amounts of bonds
recently offered prevents any advance in
foreign exchange, and puts aside apprehen-
sions of specie exports, but the merchan-
disc movement indicates a heavy balance
payable abroad. either by specie or securi-
ties. Exports for May from New York ex-
ceed by about 2E per cent. those of the
same month last year. while imports fall
short but per cent, but similar changes
elsewhere would leave the excess of i'm
ports over exports about $4,000, 00O for
the month The treasury has taken
in $l,500,000 more cash than it has
paid out, getting scarcely any bonds, but
the local market is glutted with money.
Yet on the whole the reports declose
more hopeful tone, with better weather and
better crop prospects. The clearings out
side New York last week were nearly 10
per cent smaller than those of last year, and
FOR May about 3 per cent. smaller, but the
decrease was in part attributable to the pre-
vious unfavorable weather. The business
failures occurring throughout the country
during the last seven days, number for the
United States 207, and for Canada %, or a
total of 235, as compared with a total OF 2O5
last week.