The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-12-29
CONDITION OF TRADE.
Money Markets Amply Supplied-Un-
easiness Reported at Memphis.

Money Markets Amply Supplied-Un.
easiness Reported at Memphis.
New York, Dec. 2S. Following is Dun's
weekly review OF trade: Trade during
he past week has been undisturbed by
he monetary pressure Of the inexperienced
near the end Of the year, aud has on the
whole improved. The long foreshadowed
break in MISREPRESENTATION came, but there
I has been recovery, sales have been but
10000, 600 bushels for the week and it is
still uncertain whether prices have dc.
| clined enough 20 permit the marketing OF
the large surplus the country has on hand.
Enormous crops in Russia and the Danu-
bian State, with lower frcights, keep
European prices Tow, and the constant
unloading by operators throughout
Europe who bought heavily when tho
crop scare prevailed. Corn closed II
cents lower; oats, J cent lower; pork, 25
cents per barrel lower, while hogs rose 25
cents per 100 pounds. Cotton was steady
with sales for the week OF 3d.
900 bales and coffee unchanged with
2Of, 900 bags sold A break in oil dropped
the prico. 81 cents and refined also
declined 10 cents per 100 gallons. No
monetary pressure now forces the liquida-
ton; throughout the country the money
markets arc amply supplied, though
slight closene5s is noted at 81. Paul and
frequency Of failures causes the uneasiness
at Memphis The Treasury is still putting
out more money than it takes in-Sl, 200,-
GOO during the past week-and the outgO
oil gold has ccnsed for the present, though
bank rates at London remain at 10 per
cont, while money on call Mt New York
Is quoted at a. per cent. The mcrchan-
disc exports improve rom New York Tor
December exceeding last years by per
cent The excess OF exports over imports
for November reached 2s,bl0,3D mer-
chandlsc, and S3,il0,Il5 gold. Trade nc-
counts from lho interior are generally sat
islactory. The iron, steel aud conl trades
at Pittsburg are dull. Cold weather ut
Omaha and snow in Wisconsin have inn
proved the situation. AZ Philadelphia
the IRON trade is pcrpleXcd and
uncertain. Steel blooms are unset
tied and low, but rails and
manufactured iron looks better. Copper
and tin are unchanged; the syndicate las
been Obliged to increase it, holdings OF
copper 10y several thousand tons, ana there
IL now supposed 10 be- 10000 tons in
Europe and $4,000 tons here held at SIS
OOO,O1O or more. Reports Of railroad
ualilc show the cast.bDund shipments last
week were II 900 tons. the largest ever
reported, against 81, 900 tons Tor the CORE
spending week last year. Earnings con-
tinue good. The course Of stocks during
the past week has been decidedly favor.
able TO holders, especially in lew OF tho
more active species, and the general aver.
agc of prices Is about ~ per sbarc higher
than at the opening Of the year. Prices
OF commodics, ON the other hand, still
tend downward, having declined about
- per cent in December aud about 5
per cent. since January |. The year closes
with general confidence rather greater,
indeed, than the present state Of prices
and rate OF consumption ia somo OF tho
most important industries appear to war.
rant
The business failures number 200, against
81 last week aud 500 the week previous.
For the corresponding week OF last year
the failures were 2ti