Springfield daily republic. [volume] (Springfield, O. [Ohio]) 1887-1888, 1888-08-25

New York, August pr G. Dun &
Co.'S weekly review of trade will read:
better feeling grows in every direction.
Crop reports improve. manufacturers are
gaining confidence. and dealers, no longer
operating on falling market, keenly ap-
preciate the difference. 1t would be pre-
mature to assume that no setback will
come, for in several instances the possible
tiles of an averse change are obvious. The
The movement in foreign exchange may be
significant. But the present state of bust
ness is clearly encouraging, larger in vol
ume than year ago and growing more
confident in tone.
Extensive crop reports within the past
week strengthen the belief that the corn
crop will be large, the cats crop large. the
yield of wheat not below recent estimates,
and the yield of cotton better than the
trade has expected. Injury to corn grows
really serious in some quarters, particu-
iarly in Southern Kansas but over the
greater part OF the corn-growing area the
ground is remarkably good, and the chances
of serious injury by frost lessen with every
week that passes without harm. Oats have
been seriously damaged also in some quar-
ters, and yet the aggregate yield is likely
to prove the largest on record. Texas re-
ports ample rain and good reason to hope
that the cotton yield may be from 800, 0O0
to !, 100000 bales, against 100000 bales
last year. From nearly all points report
ing the improved outlook for farm pro-
ducts is noticed as reason for revival in
trade.
The iron trade does not brighten as was
expected, though prices are little stronger
at Pittsburg about the entire output of
Bessemer ore has been sold at Cleveland
and in eastern markets the pressu~a to sell
southern irons has lessenej, yet Tennessee
No. is still offered at $3.50. Philadel-
phia notes lack of buoyancy, bar iron
continues irregular in price, and structural
iron dull, and the outlook in steel rails is
considered gloomy, quotations being SIS. so
to 500 ut the last, with sales at the west
bringing only $3l.S at Duluth. The coal
trade is phenomenally active and an
advance in price is under consideration.
For the first time in years, leather deal.
ers are not selling on declining market,
| though steady prices, with an active de-.
mand indicate a healthy absence of specu-
lation. In the wool trade, also. a better
feeling is seen, with larger sales at Boston
and Philadelphia, and in some grades bet
ter prices. But manufacturers still move
with much caution. Reports from all
parts of the country are more favorable.
though dull or quiet trade is still noticed
at some points, Improvement is more fire.
quShtty iNPOttCu. 10 ihcI az ihahN
points. with an increasing demand. but
scarcely anywhere is there complaint
of closeness. and collections do not
seem TO be mere backward than is
usual at this season. In the dry goods
trade improvement is especially noted at
Chicago, and here a full average business
in cottons is in progress with somewhat
more satisfactory movement in woolens,
especially in mems wear, goods and spring
weights and in carpets. The speculative
markets have been variable, wheat rising
64c, with sales of 50,0o0,000 bushels here,
while oats have declined &c. and corn has
advanced nearly lIsc, with sales of 60,000,-
900 bushels. The cotton corner has bro
ken and the price is 75c per 100 pounds
lower, with sales of 31S,0O0 bales, while
coffee is grade higher with larger deal
ings; sugar is stronger, and oil has risen &c.
The rise in foreign exchange from S4.S7 to
$4.S7A is spoken OF as due TO temporary
causes. That is not clear Exports do not
improve and the balance is heavily against
this country; prices OF exportabie products
advance rapidly; sales of securities on
foreign account have already contributed
to a reaction in the stock market. and it is
not improbable that the Presidents mes
sage looking toward retaliation may incline
some foreigners to withdraw capital or
realize profits in the impression that inter
national relations may be disturbed Any
considerable return of foreign. capital
glanced here would tend strongly to
change the outlook. The treasury has
been putting out money more
freely, holding So 100000 less
than week ago. and the
bank reserves at New York are still unusu-
ally large At the same time, reports of
agreement on Thursday between warning
Western roads and the improving crop
prospects, tend to help the market for
stocks. But the increase in number of fail
ures continues. For four week, past the
record covers 40 in the United States,
against 602 last year.
Business failures during the last seven
days number for the United States Isl, for
Canada q, total PA, as compared with 219
last week and 1S5 for the corresponding
week nf ixSt wear