Springfield daily republic. [volume] (Springfield, O. [Ohio]) 1887-1888, 1888-08-11
TRADE REVIEW
As Reported by r. &. Dun & Co.-Crop
Prospects Not So Good-Droughts In
Texas and storms in the Northwest.

Prospects Not So Good-Droughts In
Texas and storms in the Northwest.
New YORK, August ll.-R. G. Dun &
Coz weekly review of trade will say:
Crop prospects are not so good, and as re-
cent improvement in business has been
based almost entirely upon confidence in q
large yield, the change is of some conse-
quence. Corn still promises best of the
large crops, but il is late and in more than
the usual danger from possible frosts. Some
injury in Kansas from drought has been
reported, but later telegraphic reports tell
Of rains and improvement. Cotton mas not
improved, and in Texas, where the recent
outlook was very satisfactory, many COM
plants of drought are heard.
Our special crop reports for the North.
west shows that spring wheat has been
blighted by hot Winds or damaged by rust
or bugs in many quarters, 50 that as full q
yield as was expected is no longer possible.
About Albert Lea and st. Cloud, Mime
sofa, not over half crop is now expected.
In some parts of Dakota the injury is con-
sideredable, and the prospects is poor in
parts of Wisconsin,; but reports are very
favorable as to corn, and the injury to oats
in some localities does not seem TO require
important changes in estimates. Foreign
advices indicating deficient crops of wheat
ket here; but actual exports do not answer
expectations, and prices have declined hall
a cent for the week. Corn is unchanged
and oats l cent lower. Hogs are Is and
Lard cents per hundred pounds higher.
Cotton has advanced quarter and oil four
and half cents. The speculative markets
have not been especially active, but sales
OF wheat have reached forty-five million
bushels here. In sugar an active demand
for refined has lifted prices an eighth,
while raw is unchanged.
Wool grows stronger in the country, far
mers acting quite generally on the belief
that there will be no change in the tariff
this year. Copper is dull, tin stronger,
and lead weak, with scanty demand. Rub.
ber is also weak at 81 for parafine. The
general average of prices, which fell about
/ per cent. week ago, has changed
scarcely at all since that time, and is now
| 4 per cent. above the level of July 1st
Trade reports from nearly all interior
points are full of confidence, and at many
the actual improvement already noticed
still continues. At Cleveland the lumber
and coal trades are better, but iron ore is
dull; at Pittsburg there is less activity in
iron, but prices are steady, and 9,33I out
of l2,06l coke ovens in the Connelsville
district are at work, producing 95, 723 tons
WethfN III dDOut ~i pei ttil ut ttS
and bituminOus coal trades are also strong
The failure OF clothing house at Mime
apolis is announced; but there is an increase
in orders for merchandise there and at st.
Paul, Notwithstanding the damage to
wheat and oats. Among the new develop
ments of interest is the rapid growth OF
the lumber business i'll Texas, where large
sums have been invested. and the mills are
pushed TO their capacity supplying de
mands from Kansas, Missouri and Western
States generally. The important discovery
of iron ore in Michigan is held TO extend
by several miles the known ore-bearing
territory.
There is no complaint of monetary
scarcity, though at some points distiucI
improvement in the demand is noted, and
collections improve little at Cleveland
and Milwaukee,, though slow i'll Minnesota
The superabundance here has reduced rates
To per cent. on call. aud the treasury has
Just purchased another million OF bonds
Dut prior to that had taken in for the week
500, 900 more than il had paid out. For
eign trade still falls below that of last year
ut New York for five weeks - per cent. in
exports and 4 per cent in imports. But
the course OF Iereign exchange, and the
stock market as well. indicates that for
eign capital is still coming hither, and the
Gelllallu IOr luNcstIueiIt sSCurltlSS uaS lei
many dealers quite bare of bonds. Stock
have risen about 81 per share with some
reaction later, aud railroad reports contius
to show larger gross and smaller net earn
ings than those of last year.
Ii the iron market is reliable barometel
OF business the latest indications are rather
favorable Some stitfening in prices ap
pears, though there is no Improvement II
bar iron or steel rails. Numerous announce
,nents of new works about to be established
or of furnaces about to resume operations
show that confidence in the future is in
creasing. The bank clearings for the lates
week show smaller amount of busines
at all points than a year ago by l2.3 pc
cent, but only l.6 per cent smaller outsid,
OF New York, with scarcely any decrease il
July outside, and a decrease of 6.3 per cent
in the aggregate. As last years transac
tons were exceptionally large, the trad,
now in progress is by no means discourag
ing IN volume, though the margin 70
profits is exceedingly narrow in man.
branches.
Busnes failures during the last sever
ways number: United States 205. Canad,
Is, total 233, compared with PIG last week
and ls0 for the corresponding week of las
year.