The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-10-06
FiHt nine
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REVIEW OF TRADE.
Features OF the Week-Wheat and Cot
ton Movement-Failurea

EShbhltb VI lut wttk-W neat and Cot
ton Movement-Failures.
New IoRK, Oct Or G. Dun d CO.,
In their weekly review Of trade, say:
The great wheat speculation has been
the absorbing feature this week, for though
the September corner came 10 an end with
heavy losses for sellers, il left the market
IN such a state that much highcrprices for
other options were easily obtained. With
December wheat at Sl.lS at Chicago, there
came heavy selling and sharp reactions.
But the state Of the market is still against
all reason. Cash wheat will sell for more
ut Chicago than at Liverpool, and at one
time II would have paid TO ship wheat
back from Antwerp 10 New York.
At New York sales Of wheat amounted
TO los, $500 bushels-more than three
times the entire visible supply--and prices
closed Sc cents higher than week ago.
Corn advanced cents, with sales OF 49,
OOO,OOO bushels, and oats u fraction. The
speculative fever was felt in other markets
and pork rose II per barrel; lard 80 cents.
and hogs % cents per l0Opounds; coffee rose
| cent, with sales OF bl6, 300 bags, and oil
nearly cent with sales OF 6,73S, 600 bar.
rels. In cotton there was n slight decline
Of I cont, with sales Of 800, 600 bales. The
wool market has been steadily strengthen.
ing with advances mainly in Ohio fleece
and combing wool, but the average Of los
qualities is hardly cent higher than Sep.
tcmbcr /.
Reports from interior points are uniform.
IL favorable, outside Of the influence OF the
KH.fIIsNU Nats.W NJ Nl.. a
and some other points considerable strin-
gcncy resulted from interruption Of remit
tanccs and the scll-dcicnso measures OF the
banks, but the situation Is materially inn
proving. At many western points the
tenor Of reports Is generally encouraging
There Is less complaint as 30 collections,
money il increasing and demand aud the
volume Of business is cnlarging Outside
Of New York the bank Clcafings show q
gain OF 2.5 per cent. over last year. with
gain Of 1913 per cent. here. but they are
greatly swolled 10y speculation ut Chicago
and other points.
The demand for iron increases, and at
Philadelphia the advance in pig iron Is
deemed equal 10 about II per ton, while
remarkable improvement il seen in the
market for bar iron, so long depressed.
Steel rails do not advance, but sales OF
1900 tons by eastern and 2OOlD los west
orn mills are reported. la the boot aud
shoe trade reports are growing mOrv salts.
factory.
The stock market has Witnessed much
selling and some reaction, aud set tho
average Of prices is q shade higher than q
week ago, for thc advance Of the Bank
Of England rate 10 o per cent, aud the al.
vance 10y the Bank Of France to u per
cont led 10 some liquidation Of iUrpign
accounts In American securities. Foreign
trade does not materially change. The
treasury pouu out money freely, having
disburscd during the past week -. 800, 90
more than It has taken In While tho
number Of failures is large, the amount Of
liabilities for the third quarter Of the year
shows a great decrease, from s1J,O2a, $50
last year TO So, u, 22j Tor the quarter Just
ended.
The failures during the week number
2ll, ~ compared with 22O last week anl
22s the week previous. Tor tho CORE.
spending week last year the Ggurcs were
2l2.