The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-06-23
DUN'S TRADE REVIEW.
THE INACTION RESEMBLES MID
SUMMERS DULLNESS.


Aoated-LarRe Accumulation of Un-
employed Capital in the Financial
Centers-The Volume OF Business
10 Per Cent. Below Last Year-Cot-
ton Stronger.
NEW YORK, June 22.-R. G. Dun & Co. S
review Of trade for the week is as follows
The country is waiting, and the inaction in
trade closely resembles midsummer dull
ness. Anxiety about crops has in great
measure abated. The financial uncertain
ties have but little present. influence, be-
cause the narrowing industrial and COM
merclaI demands leave large Accommodations
unemployed at all the financial centers.
| fohtlcal uncertainty engrosses attention,
and there is little prospect that it will
diminish until the ballots have been counted
In November. The volume Of business still
! continues, which would have been called
| large a few years ago, but falls more than
! ~ Der cent. below that of last year. The
latest reports of the exchanges show a
| decrease of III per cent. in the aggregate i'll
| comparison with last year, and a decrease
| Oh per cent. outside of New York, with
twenty-three out of thirty-eight cities re-
| porting shTinkage.
GAINS IN THE WEST.
AT st. Louis, Kansas City and New Or
leans there are gains, but at Philadelphia
| there is a decrease OF 10 per cent, at On
| clnnatl of IL, at Chicago of 7, at Boston of
| q and at New York of 12 per cent. The
shrinkage in the volume of business is ac-
companied by a decline in the prices of
! commodities generally, and an advance
In the prices of securities. Grain goes
down and stocks go up, with some
| reason when crop prospects decidedly
| improve and the favorable weather of late
| has changed northwestern expectations
materially. Wheat, corn and oats have each
declined about 314 cents during the past
| week, without heavy trading which would
| mark the downward to ldency as mainly
| speculative in character. Lard has fallen
30 cents per 100 pounds with no change in
hogs. Oil has declined 3 cents, butter .
cent, eggs l cent, and coffee y cent.
COTTON STRONGER
But cotton is three-sixteenths stronger,
the present demand having moro influence
than the prospective yield The general
| average of prices has declined during the
week about three-quarters of / per cent
Reports from interior points are uniformly
favorable in tone, for the prospect is con-
sldered cheering, though at most points
present transactions are in decreasing
volume
Money is nowhere in sharp demand, and
complaints of slowneSs in collections are
| much less numerous this week. Good crops
give confidence as to the future Every
where inactivity is now the most noticeable.
In the more important branches of trade
no great change is seen. Cotton goods are
in steady but moderate demand. Print
cloths are strong at cents for 64s, but
transactions in mems or women'S wooden
goods are moderate, with prices ruling
below last years where foreign competition
is felt Wool market halts, because holders
offer new woods sparingly at present quota
tions, having faith in better prices after
the fear of a change of the tariff has passed
BOOTS AND SHOES IMPROVED.
IL is thought there is some improvement
in the boot and shoe trade, ard the move
ment is fairly good.
Just now the iron business has to be con-
sidered in connection with the recent de-
mand for securities. The stock market has
advanced about S125 per share, but with
indications that prevailing speculative in
fiuences promise only temporary advance.
More significant is the enlarging demand
for Investment securities, and particularly
for bonds of new and promising roads: and
yet this demand is apt to appear for time
whenever inactivity checks the employ
ment of money in trade or industry.
TRANSPORTATION RATES Low.
The rail rates prevailing are low and
tend lower. Competition Of water routes
is severe, and the average lake rates for
May, 2 1-l0 cents per bushel, is the lowest
on record, except in one year, while the
average canal rate 3 $40 cents, is the low
est on record, and at one time grain was
taken for 23l cents-the lowest rate vet
known-from Buffalo to New York.
The theory that railroad building
is to be large this year is
met by the stubborn fact that the sales of
OBJ IL lie Nr, 1 orr
tons against ,614, 545 last year to the same
date, and the shipments only 448, 149 tons
against TAI, 1871 last year. The increasing
anxiety to sell pig iron is noted The Beth
lehem furnaces have been banked and the
Pennsy lvania works will stop for repairs in
July. In word, current prices are to
many works unremunerative.
COLDS oUTGo NOT LARGE.
The outgo of gold has never been large.
and has been more than met by the treasury
disbursement in the purchase of bonds
and otherwise, which have exceeded the
receipts by about IS, 900, 900 for the week
Nevertheless, foreign trade continues in
such shape that gold must go abroad largely
unless the outward movement of securities
continues unchecked. In three weeks the
exports from New York have fallen So
per cent. below last year, while there has
been an increase here in imports of per
cent.
MONEY ABUNDANT.
Money is everywhere in abundant supply.
and it will doubtless be the policy of the
treasury to prevent any stringency, but
unless business becomes much more active
little effort to that end will be needed for
| the next two months
The business failures occurring through
out tho country during the last week num-
Der for the United States l76. Canada %
making total of 204 against 1872 last week
The Pacific states, with 40 casualties and
Canada with rs, furnish one-third of the
total number of failures this week.
THE ST1NDPv 1,ruIr prrr