The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-03-10
THE STATE OF TRADE.
r. @. DUN q CO.'S REGULAR WEEK.
LIZ COMMERCIAL REVIEW.
Business Begins to Fail Below That
Of Last Year-Effoot OF Railroad
Strikes and the Uncertainty of the
Tariff Bill.

NV YoaK, March The following is
X. q. Dun 4 Co. 'sreview OF trade for the
week ending March 10:
Business begins TO fall below that of last
year. The railroad strikes and the posi-
bility OF their extension, the uncertainty
as to the tariff and the mode Of preventing
accumulation Of money in the treasury,
the death OF tho German Emperor, and
The doubt as 10 Its financial effects, con-
splrc to check new ventures and to limit
purchases 10 immediate needs. Thus the
exchanges outside Of New York fall below
those OF last year, and the decline at nearly
all the principal ccnters Of distribution is
considerable, though numerous smaller
cities still report gains. The tendency Of
tho markets is generally toward lower
prices, though the average for all COM
modities is ms yet hardly per cent. below
the highest point touched soon after New
Years In the stock market the down.
ward movement has been more definite,
though without any excitement. The
causes above named. and especially the
considerable foreign sales since the
deccaso OF the German Emperor
was anticipated, fully account for
the average decline of about 81
per share; indeed, the remarkable steadi-
ness OF the market under the circunstan-
cos Is constantly mentioned. But this
implies measure Of unrcaity in current
prices; markets which do not respond 10 |
natural influences arc with reason dis.
trusted. The appeal to the courts by the
burlington & Quincy road opens the way
TO the legal decision whether any combi- |
nation OF men can lawfully arrest traRc |
on ono railroad because II performs lis |
duty M common carrier In taking freight
from another. II Is felt that the decision
may prove Of e,pat importance in the end.
but II can hardly DO reached soon enough
To have influence this season. Earnings
continue large, but the increase in cxpon-
scs also continues.
The. wheat market has been lifted 9
cents by the forign news, but with the
result of completely arrcsiing the export
demand. A the reported exports last
month from Atlantic points were less than
half those Of the same weeks last year,
while exports rs large ~ last years would
still leave considerable unsold surplus
next July, the expedicncy Of an advance
i doubted. Corn and oats have also
risen about cent, and oil little more,
while the foreign news has checked de-
Zine in pork products, but cotton and
sugar arr lower with some grndes Of iron
,nd wool. The decline In sugar has been
mail; belief that the trust may be effect
ially resisted seems 10 increase. A dop
II half q cent In cotton has caused some
ailurcs, but doesn't surprise any one. The
'eliei that the cotton crop win reach o.
OO, 1000 bales appears 10 gain strength.
In the dry goods market the demand,
ven for cotton goods, has been moderate; q
he uncertainty ~ 10 prompt trnnsportl-
on checks operations and also the nnccr-
unity m to the tariff. The inquiry for ,
iint cloths Is light at q cents not long
go II was strong at 4 cents. The wool =
market N steady for the better grades, :
which are In small supply, but other lots !
re slow OF sale except at concessions, and
generally are buying for the !
wants. Tho boot and shoe J
rado IA steady and manufacturers busy.
The feeling that leather can hardly 90
over helps purchases With kip No. / at
ttuto aih bfhNhu ~ 10 Ccntr, tue market
: dull and hides are easier. Rubber IN
Irmcr because OF Para prices; fine IA quoted
4 T5l cents. lron does not grow stronger.
Z the supply cor good grades In limited NO
= the demand, while grades less known
ne offered at concessions. Bar iron IA weak
'eain, the sales below ~ arc reported.
salcs Of $500 tons domestic steel rails 70
.ult In q slight lowering Of quotations TO
81 % at eastern mills. Il, 800 tons foreign
ire taken for Pacific delivery.
The treasury has paid out money more
freely the past week and has added $780,
900 10 lis deposits In hanks, and yet has
aiken In Al ,000,000 more than II has paid
Dut The expectation Of early exports Of
gold Is strengthened by trade accounts In
dicating probable excess Of imports over
exports Inquiry aud by recent sales Of Nc.
curilics ON iorcign accounts. But the.sup.
ply OF money at all interior points report
ing u ample, and collections arc now hero
a matter OF simple complaint.
Tho business lailups occurring through
ont the country during the past seven DAYS
m rcporicd number for the United States
ln5, and for Canada 50. OF total OF 253, rs
compared with total OF ga last week aud
30 the wook previous. For the CORE
spending week In 1887 there were 905 In
the United States and 20 In Canada, total
Of 23i.
A a