Omaha daily bee., 1888-09-09
THE CONDITION OF TRADE.
Money is Plenty But Interest Rates
Grow Firmer.
GENERAL TRADE STILL GOOD.
Trust-Dricd Fruits-Local Bush
ness Changes miscellaneous
Commercial Intelligence.
AL TRADE STILL GOOD
Interest Rates Rising.

The money market is gradually tightening
and while the supply is equal to the demand
rates are sitter and 10 per cent is the rule.
Exchange is in good supply at 81 per thou
sand, premium. 1t is regarded by the Wall
Street News Il good sign when "the south
and west begin to draw on New York for
money at this time. The movement of the
wheat crop has been insignificant, and yet
eastbound shipments from Chicago are be-
ginning to pile up rapidly. TIT New York
banks have been for some time making
ready for this anticipated drain, and they
have not in years been so well prepared to
meet extraordinary demands as they are
today The national bank circulation at
present outstanding amounts to s24G, 42S, 562.
The decrease in August was 81, POI, 01S.
General trade continues very good and
with hoge s1,2?5 per 100 pounds higher than a
year ago, wheat zoe higher, corn 4c higher,
and cattle of good grades bringing a liberal
advance over last year, with a heavy crop of
hay and vegetables, berries and farm pro-
duce generally bringing good prices, Ne
braska should be in a position to buy freely
and pay promptly this year ana doubtless
will do so.
Sugar has been advanced 1-16c by refiners.
Telegraphic advices say that the pack of
corn in Maine will not be % per cent of last
yodT >. IL IS Sdlu lldU u bTuSJ' HIS Iuhcu
hold of the rice crop and with a shortage of
40 per cent to help them, will be able to adj
vance prices to a figure which will afford
them a comfortable profit. The receipts of
rough rice at New Orleans thus far this year
are 10000 bags against 1000 bags last year.
Cranberries are being shipped and prices
will open at $500 per barrel.
Dried fruits are attracting renewed atten-
ton and new goods are arriving all the time
from American and foreign shipping points.
The steamers Spryia and CIV of CHICAGO
from Liverpool have arrived at New YORK,
bringing 2, $50 barrels of new crop currants,
the first of the season. About half of these
are destined for Chicago and about
been sold ahead at 5Hc. The Com
mcrcial Bulletin reports the first direct
shipment of new crop Valencia raisins for
the New York market-32,0 600 boxes
arrived there Tuesday by the steamer ssy-
ria, a large part of which have been sold
previously on the basis of about 74@1%c
for off-stalk and 94@919c for layer.
Coffee sales for legitimate purpose are fair
at unchanged prices. So far as speculative
prices are concerned, they are stimulated by
the strong advancing tendency cabled from
Europe, which acts on the Rio and American
markets in a bullish way. 1t appears, how
ever, that deliveries in Havre call for good
average Santos, and therefore the furry
abroad is more against that particular grade
than against the entire run of the Brazilian
coffee and less likely to carry the wide in
HuenCe Jne DullS WOulu nave IL appear.
Carbon oils are active and advancing. The
decrease in the visible supply of petroleum
during August reached about 900, 900 bbls.,
leaving the total net stock about 2?,S00, 600
bbls. The decrease since January l was
$500. 900 bbls., and since August 81, 1887,
300, 600. The decrease in stock atioat and
abro ad has been about COG, 900 bbls. since
January l.. The total decrease in quantity
in sight in lSSS is about 100000 bbls.
Statistician Prime says there is no doubt
rs Ia the serious Iamaun Sprinp wheat has
sustained, not so much by frost as by rust
and blight, which took place from four to
six weeks ago. The threshing machines have
brought out these facts. Regarding corn he
says; Frost would not now injure corn in
Kansas, and l think it is safe to say that the
greater part of the corn in eastern Kansas
is hard enough for feed. Southern Nebraska
also reports a very favorable week for corn.
1t is still a little wet and cold in Iowa, but
the conditions are very favorable for Illinois,
Ohio and Indiana
The exports of wheat from Russia for the
first six months of this year amounted to
52,5S4, 900 bushels, against 1850 900 bushels
for the corresponding time of last year. The
export for the twelve months previous to
July |, 1883, was about $4,000, 900 bushels,
which was the largest on record. The largest
previous amount was about lO4 900, 900 bush
els in 1878.
The oat crop this year is the largest ever
grown in the history of this country, and oats
are now largely substituted for corn in the
feeding of cattle at the west.
The Citizens bank, on Cunning street, here
tofore conducted as a private bank.h has in
corporated as a state bank, with Sl00, 600
authorized and subscribed capital, of which
25 per cent is paid up.
The past week has been prolific OF changes
in the grocery trade. 5. Dougherty of West
Farnam street gave a chattel mortgage to
creditors, who took possession. Louis John
son of Cunning street was closed on attach
ments at the instance of Allen Brothers and
others.
Engelman & Co., of Fifteenth aud Howard
streets, sold out ana 1t is understood settled
in full.
City retail trade is kicking all along the
line, and with some reason. The fair, the
circus, and Siege of Sebastopol drew crowds
of people, by which downtown dealers prof