The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-09-08
THE STATE OF TRADE.
r. g. DUN s. CO.'S REGULAR WEEK
LY COMMERCIAL REVIEW.
The Outlook In the World of Finance and
Industry-The Crop Prospects-Num-
Der of Business Failures in the United
States.

New York, Sept. 7.-R. G. Dun & Co. 8
review OF trade: Wool and iron industries
respond at last, though with some hesita-
ton yet, to the stimulus afforded by good
crop prospects. The increased demand
for wool is shown in higher prices for
nearly all grades. Coates circular for
September l reports considerable specula-
tive feeling, and the average OF los quota
tons is now 22.7 cents, against 2l,7 August
l. There has been distinct improvement
in the purchasing by manufacturers, and
in dress more activity. The demand for
cotton goods is at present comparatively
Light and irregular.
In the iron trade also an improving de-
mand is felt in all directions excepting in
the market for steel rails. Pig iron is
tirmer, and though some southern iron is
still offered below current quotations and
four new southern furnaces are to begin
work this month the tone is frmer. AT
Plttsburg advances OF % TO 90 cents per
ton are reported. Bar and other finished
iron is stronger there and at Philadelphia,
and some speculative disposition in the
pig iron market isnoticed. Cleveland also
reports an improved demand for ore and
better prices. The deliveries of steel rails
for eight months this year have been only
7lO, $40 tons against 10, 045, 04S last year.
The speculative markets are higher
wheat nearly cent, with sales Of "a, 600, 600
bushels, and corn about / cent in spite OF
excellent reports rs to the probable yield.
Cotton has risen nearly > cent, though
the best recent reports from Texas as TO
the yield are confirmed. The coffee mar
A ttith n hot a.
mand. Oil is ! cent stronger and foreign
hides J cent higher. Sugar had adj.
yanced l-l6 and lard nearly ! cent, though
other pork products are steady and hogs
10 cents per 100 pounds lower
The stock market has shared the upward
tendency showing an advance OF about
So cents per share since week ago.
The gross earnings OF railroads continue
encouraging. The wars OF rates do not
cease and the Generalization is such that
the trunk line pool and the central traffic
association have practically ceased opera
tions. Weakness and selling in important
western stock continue, but the market
improvement in the coal trade helps many
stocks. The situation does not stimulate
the demand for securities offered by pro-
lectors OF new roads, nor do returns OF
foreign trade promise the imports OF gold,
which are usually expected in the fall.
Exports from New York tall 81 200, 600 be-
hind last years for the last week reported
and II per cent. behind for the past five
weeks.
The reports from interior cities continue
decidedly favorable. AS 10 collections
also, while some complaint appears the
general tenor OF reports Is more favorable.
The increased demand for money has
caused some closcnoss in the market at
Baltimore, Cleveland and Nashville, but
at most points the supply is ample. The
treasury has taken in during the week
S2,OOO,OO0 more than IL has paid out, but
the payment for S6,OOO,0O0 bonds pur-
chased have not been yet reported.
The business failures number 22i, rs
compared with 226 for last week aud PA
the week previous 10 the last. For the
corresponding week Of last year the figures
were la, and % in the Dominion OF
Canada.