Springfield daily republic. [volume] (Springfield, O. [Ohio]) 1887-1888, 1888-08-18

NEW YORK, August lS.-R. u. DUN &
CO. s weekly review of trade will say: The
signs this week are all more favorable.
More definite information limits the loss
by injury to wheat and cotton, while corn
prospects continue good. Business in al
most every part of the country improves.
with MANY indications of good fall trade.
Manufacturing is more active and labor Ii
better employed. Railroad earnings show
gains as usual. and the belief that rate wars
will not last has strengthened. On the
whole, the feeling has decidedly improved,
and the actual situation also.
For some months the dullness in the iron
trade has been discouraging symptom,
but now an increase of 6, 200 in.the weekly
output since July is recorded, gain OF
nearly six per cent. This is partly due to
the resumption of furnaces which suspend
for time in the summer for repairs
but some new and large works have
swelled the output of coke iron to 1850
tons weekly. There is no change in prices,
and for the moment little less activity at
New York or Philadelphia, but foundry
irons are more firmly held and at Pitts
burgh mill irons are 25 cents stronger. In
all quarters better demand is felt and
sales of ore at Cleveland are now large,
while it is noteworthy that no advance ap-
pears in steel rails, though sales OF lO,0OO
tons east and Ia. 600 tons west are recorded,
besides Pacific Coast contracts for $1,000.
The coal market is also strong and active,
and an advance is expected about Septem-
ber lst coincident with the advance in rail
charges.
The latest advices regarding the crops are
favorable, because they indicate that the
injuries undeniably sustained are not so
serious as many apprehended. While the
harm done in Minnesota and Dakota has
been great in some localities, the latest
estimates from ,2O0 points appear to JUS
tify BELIEF that the yield from increased
acreage will be about as large as that OF
last year. So the gloomy anticipations as
TO cotton in Texas are met by telegraphic
accounts of rains throughout the State and
better prospect, and it is explained that,
with good weather hereafter, the State Will
exceed last years yield.
Speculation has entirely disregarded crop
news, and cotton has been lifted quarter
with better prospects of yield. Just as hogs
have risen and lard Is cents per 100 pounds,
| in spite of excellent prospects for corn,
which was nevertheless hoisted yesterday.
Wheat has declined over a cent and the
slow export demand is still the prevailing
feature, though foreign crop advices are
gloomy.
The advices from interior points are more
uniformly favorable, Us TO actual business
quite generally reported, with transactions
| exceeding last years at many points. The
clearing house returns also indicate reviv-
| ing activity, exceeding last years by Sc
per cent in the aggregate, and ~ per cent.
outside of New York, but much of this gain
| is due TO greater speculation activity, IN
stocks at Boston, in grain at Chicago and
| in cotton at New Orleans Money is in
ample supply for legitimate demands at
1 Il. tnt hnr IA
quoted close at Nashville and the improve
| ment in collections lessons the number OF
complainants. At Baltimore the resump-
| ton of manufacturers after summer rest
is entirely satisfactory. At Kansas City an
increased demand for money is noticed
| from interior merchants and farmers with
prospects of large increase in the cattle
movement At Milwaukee, business is &C
| tive for the season and increasing as at
| Omaha and Cleveland.
In foreign commerce a decline of Is per
cent in value of exports for two weeks
from New York and decline of 80 Il per cent
| i'm the value of imports here, do not accord
| with accounts of domestic trade. Imports
| in anticipation of change of duties seem
| to have supplied the markets for the pres
ent, while foreign buyers, Notwithstanding
large prospective needs for the coming year,
are too wary to hasten their purchases
Tie returns still show that the movement
Of foreign capital this way has not ceased,
though the stock market has been weaker
and uncertain in tone. The average OF
prices is $l.50 per share lower than week
ago and in some active securities and un-
/ usual efforts TO sell are seen. But in spite
of great dullness following an uninter
rupted rise for eight weeks, the market ha,
been comparatively steady until Friday
when a more rapid decline marked thu
opening.
The Treasury has taken in about s., 800,
600 more money than it has paid out during
the week, Notwithstanding an advance il
the rates paid forb and an increase o.
81, coo, 900 in the deposits with banks, but
the reserves of cash at New York are SC
large that there is general confidence il
the monetary future.
Business failures during the last sever
days number for the United States 1877
Canada 81, total 2l9, as compared with 23
last week and 16l for the corresponding
1 n. l...A