The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-06-02
ABR0KEN WEEKINTRADE
LOWER PRICES, CHEAPER MONEY
AND BETTER CROPS.

The Decrease in Exchanges Only b
Fer Cent. in 40 of the Leading Cities
Money in Full Supply at New York
Cotton Manufactures Higher.
NEW YORK, June Ii G.. Dun & Co. g
review of trade for the week says
The past week, broken by holiday, has
brought broken markets. Lower prices for
stocks and for products, dull trade, cheaper
money and better crop prospects have been
lts features. The exchanges continue to in
dictate smaller volume of business than at
this time last year, the latest returns
showing decrease of 5 per cent, OF
which twenty cities share, including seven
OF the ten having the largest transactions.
Chicago and Pittsburg show small gains
and Philadelphia a gain of Is per cent, but
New York shows loss of z and Boston of
81 per cent, Cincinnaci of ~, st. Louis
OF IA and Baltimore and San Francisco of
IL per cent. The New York Exchanges, for
the five months, ending with May, after
deducting double the value of the stocks
sofa, not only shows a decrease in other
business from last year, but decrease of
500, 100000, or per cent. compared with
the same months of 1884
NIsCE
Inc Improvement in crop prospects is de
clded. While the loss in winter wheat will
he large, a marked increase in the acreage
OF spring wheat is reported, with favoring
weather OF late and Improvement in many
quarters. The effect upon the market has
been important. Wheat has fallen 415c.,
corn 313c., and oats fraction;
hogs % cents and lard 80 cents per hundred,
and Oil 81 cents. Cotton remains steady
and speculation has lifted coffee a quarter
Butter is in large supply and has fallen
cents. Eggs are lower and an enormous
glut of vegetables has demoralizsd
the market almost beyond pre-
cedent. Tea is still dull
and the grocery trade as a whole lacks the
buyancy usual at this season.
A light Improvement in grain freightS TO
I'D. for wheat to Liverpool indicates a
better export demand since the decline in
price.
There is no improvement in the iron
market, indeed acceptance of lower price,
by some Southern makers in need Of money
has strengthened the impression that it will
be still low err.
COTTON GOODS HIGHER.
Cotton manufacture. on the other hand,
improves in outlook, and higher prices are
made for print cloths and some staple goods
Nc recovery is seen in woolens,
but the large auction sales re-
suited very satisfactorily, though prices
averaged IL per cent. lower than last
years at the first and ~ per cent lower at
the second sale. The general range of
prices for all commodities is 2 per cent
lower than it was May |, with an apparent
tendency toward still lower rates.
The money market here has been
over supplied, though the treasury has
taken in s., 200, 900 more than it has paid
out Bond purchases have almost ceased,
the scanty offerings being beyond the Secre-
tary's limit.
EXPORTS AND IMPORTS
A slight improvement in exports, 2k per
cent. for the month from New York.
with a decrease of l per cent. in
imports indicates that the excess of imports
over the exports in May, over S15, 0O0, 600
last year, may not prove more than ST., 600
600; yet the possibility of gold exports in
considerable amount has depressing in
fuence and the stock market has shown but
little strength, though the returns of the
railroads continue generally satisfactory
During the past week the average price
of stocks has declined about zoe. per share.
In the absence of any movement to re-
alize by foreign holders the market con
tinues in the hands of local spectators.
The business failures throughout the
country during last week number for the
United States 1856 and for Canada 10, a
total of POS against 225 last week.
There is noticeable increase in the fail
ures on the Pacific coast, the number there
being 43, which is far above the average.
The failures in other sections of the country
are light, and as rule unimportant.