Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1888-07-16
A More Hopeful Spirit.
Weekly Review of Trade by
the r.. G. Dun Agency.
CROPS AND THE TARIFF.
Stocks Advance in the Face of Events
which Should Justify Decline
Money Abundant and Collections
Satisfactory at All Points.

NEW YORK, July 14,-R. e. Dun &
Co. IS weakly review of trade will say:
Quiet hopefulness prevails. That bust
ness is dull, everybody realizes. That it
is going to be good, more favorable crop
prospects lead people to hope. Then, it
is felt thai the chances of a change of tar
iff lessen as the weeks pass, leaving less
time for agreement between the two
houses of congress, and thus an import
ant element of doubt as to trade for the
next half year is In part removed. In
financial markets there is nowhere a
disturbance, though the unprecedented
volume of loans at New York raises
questions that are not yet answered
There is no present expansion of legiti-
mate trade to explain it, and, If important
specuiatlons are preparing, they
are well concealed. The reports from
interior points all reflect hopeful spirit,
with most frequent reference to improved
crops prospects. AS to cotton, there is
some contradiction. In the Mississippi
valley toe much rain is by some reported,
with consequent excess of weeds. Corn
and oats would probably exceed any
previous yield ii the weather should
prove entirely favorable from this time
onward through harvest, but the point
OF greatest danger is not yet passed. The
hay crop at the east is ample, and the
latest reports are decidedly more encour-
aging as to wheat.
Prices are u C higher than week ago
for oats and 1c lower for corn and wheat
partly because broker at Chicago fell
down some steps and was reported hurt
When market is affected by such ru-
mors prices are not of much value. In all
directions the influence of mere specula-
tien upon values is just naw an un-
healthy sign
Stocks have advanced; the more active
average about 80 per share higher than a
week ago, and yet the course of events
would have justified some decline.
The renewal of the railroad
strike at Chicago and Kansas City
Is thought to be serious, the cutting of
rates has been so great as to lessen re-
ceipts materially, and the later reports
OF earnings begin to indicate some loss
in comparison with last year. But when
the specuiator can mako the outsiders
believe that 'sboom" Is at hand, rea-
sons and earnings count for little, and it
Is She nature of speculative markets to
rise when events are unfavorable.
Cotton has risen 3-l6c, and the move
ment seems to be taking the form of q
corner" on car deliveries. Hogs, eggs
and potatoes are higher, while coffee is
Ic lowe. than last week
The industrial outlook is not entirely
cheering, though the strike Of iron work
ers seems likely to last but little longer.
The statements of iron furnaces in blast
July /, show a decline of 7,343 tons
weekly or 6 per cent, since June ], and
30, ITO tons weekly, or 21 per cent, since
Nov. 1. AS this decline has been grad
ual, the output for the half year appears
to be Ii per cent. smaller than for the
last half of 1887. Prices do not change,
though the more common grades are
freely offered at low f eures.
An advance in circular prices of coal is
expected and the eastern demand inn
proves.
The cotton manufactures still hold
prices we'll, with an advance in few
grades, but the outlook for woolens does
not change. The closing of the Bigelow
carpet mills puts 300 persons ont of work
for o time, aud, following the closing Of
the Lowell mills, is supposed to indicate
an over supply.
The decline in building trades is Illus
trated by the New York returns of !, SAT
buildings for the half year, costing $685.
50D.0 900, against 2, ,8s2 for the first half of
last year, costing SAT, 300, 900.
Exports for the first week of July were
q, GOO, 900 smaller from this port than
Tor the same week last year, but returns
Tor June show an increase of Sc, S00 900
in exports of cotton from the principal
ports, with decrease OF s700, ,00G in ex-
ports of oil
Foreign exchange is weaker, and the
supply OF foreign capital coming hither-s
ward has not ceased The treasury has
also added SO, 700, 900 to the market sup
ply by disbursements exceeding receipts
during the past week, and money is
abundant, not only here, but at every
other point reporting. In almost every
instance, also, collections are now re-
ported as satisfactory, or improving.
Business failures during the last seven
days number FOR the United States ate,
Canada 25, total $40, as compared with
2l4 last week, and I79 as compared with
the corresponding week of last year.
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