The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-06-09

Better Feeling in Commercial Circles, but
Transactions Are Not Unusually Large.
NEW YORK. June 8-R. G. Dun & Co. q
Review says There is a better feeling in bust
ness circles and 10 some quarters actual i'm
provemsnt in sales, though, on the whole trans
actions do not equal those Of year ago. The
better feeling is due in part to more seasonable
weather; 10 part also, to a growing impression
that no disturbing changes in tariff likely to
be made thiSyear. but more largely to the de-
cided improvement in crop prospects.
The outlook as to cereals i'm
proves steadily. that there is now
reason to hope for large yield of all grains ex-
cept wheat, and for yield of wheat exceeding
by 20. 600. 900 bushels more the estimates Of .
month ago. provided the weather continues
fairly favorable. The annual report as to acre
age and condition Of cotton by the Financial
Chronicle indicates an increase Of 2 per cent in
acreage, with condition on the whole rather
more favorable than g. year ago. Atlantic
States and Texas appear rather less promising,
but in the Mississippi valley all accounts agree
that the prospect 10 better than 1T this time last
year. Another encouraging feature 10 the in
crease in the output of pig-iron, which is not
low prices now prevailing, is significant
The market for steel rails shows
no change, and. while the sales
OF bar iron little larger. prices do not
strengthen. The grain market has declined
wheat, lie. corn. 23c. and oats 4c, while lard is
&c higher and pork unchanged. The improved
crop prospects, both in the Mississippi valley
and the Pacific States. at present outweigh the
moderate increase In purchases OF Theat
for export Sugar is unchanged 10 price,
and coffee has yielded 4c. Dairy products have
recovered q little from the depression of last
week, but oil has declined &C.
Views Of holders and bidders so far apart
as to new wool that prices are hardly settled.
but such quotations as appear indicate lower
average.
The general range of prices OF commodities
is about one half Of per cent lower than q
week ago.
! In the stock market a small recovery in prices
has occurred. but dizziness prevails. Good re-
ports Of earnings ara balanced by Increasing
rivalry between lake and rail routes and between
Western trunk lines The quick absorption of
large amounts OF bonds recently offered pre-
vents any advance In foreign exchange and
puts aside apprshensions of specie exports, but
the merchandise movement indicates heavy
balance payable abroad, either by specie
or security. The Treasury has taken In
81 500 900 moro cash than it has paid out
getting scarcely any bonds but the local market
is elutted with money. Interior reports, with
scarcely an exception, show money abundant
and business quiet and moderate, with collec-
tions not entirely satisfactory. Yet the. whole
reports disclose a more hopeful tone with better
weather and better crop prospects. The bust
ness failures during the last seven days number,
for the United States. 207, and for Canada. %.
a total Of 235. as compared with total of 205
last week. and 173 for the corresponding week
of 1887 The business casualties on the Pacific
coast are exceptionally numerous STILL there be
ing no less than forty-two failures reported
there during the week, which is far above the
average.