The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-07-28
THE STATE OF TRADE.
r. @. DUN & co. IS REGULAR WEEKLY
COMMERCIAL REVIEW.
Improvement in General Trades Contin
ues-Effoct of the Collapse OF
the Iron Association-Bus.
mess Failures.

NV YoUK, July 27.-R. G. Dun & Co. =
weekly trade review says Improvement
continues. The collapse Of the Western
Iron Manufacturers association has set
nearly all mills at work and makes pig iron
iirmcr, but bar iron weaker. Stocks have
been strengthened by decision arrcstng
the enforcement OF the Iowa rates. War
OF rates do not cease and interstate dcCis.
ions ON many important cases are defer.
red. Net earning OF eighty-two roads in
MAY showed loss OF 81 per cent, though
their gross earnings gained Ga per cent,
and the gains in gross earnings for July
have been less than half as large. State
mcnts show that 2, i2S miles OF road have
been placed In the hands OF receivers dur
Ing the half year. with Sljj, $4,000 bonds
and stocks against only l2S miles and s2S,
200, 600 bonds and stocks for the iirst hall
OF last year. But the average price ol
stocks has risen about sl.iO per sharr,
though less strong OF late.
Reports Of domestic trade are almost
uniformly encouraging, for, though dull.
liNN NNA llINNAllNt improvement hIIfHNN ~
many points. The ccarings at all citic.
exceed last year 10y 1913 per cent, and out
side Of New York by per cent, with
larger gains at Boston, Chicago and New
Orleans. The complaints Of slow collcc.
tions increase, however, especially in con.
ncction with distribution Of manufactured
goods. At Philadelphia and Pittshury
better feeling appears in metal branches,
and at Baltimore aud Detroit la dry goods
and boots and shoes but eastern manu-.
iacturcs are still uncertain.
Foreign trade shows imports exceeding
exports by SlS,2OG,3ll and for the halt
year the excess was sol ,iG3, go. Against
this the net exports OF gold and silver ior
the half year were Sl7, ,S3l, 80 that
when interest aud undor.yauations are
considered, the movement OF foreign capi.
ial this way appears 10 have exceeded
SiOO. OOO, 900 for the half year. Exports Of
merchandise from New York in July show
n decrease OF 3 per cent In value against
per cent. increase In imports, and iur
the past year exports have been smaller
than In anv other wear since 1873, except
the year lSSj-S6, when imports have only
been exceeded la one year, lSSl.S2, aud
then lcss than Sl,0OO,OOO.
Speculative markets are not active anl
wheat has changed but little. Crop prs.
poets have caused corn 10 decline cents
and oats cent, but lard, pork aud live
hogs are stronger oil Is cent weaker,
aud cotton and coffee unchanged. The
treasury has taken IN during the past week
g. 10000 more money than Il has paid
out, but reports from all interior points
represent money In ample supply lOr ali
Legitimate business, with a general def.
cheney Of demand. Once more the coun.
Try closes q crop year with surplus Of
over ~. 900. 900 bushels Of wheat on hand
unsold, and the latest reports indicate that
the supply for export during the coming
wear will exceed lij, 100000 bushels, the
exports for the past year having been less
than l20,O0O,OOO bushels.
The failures attending half yearly settle.
mcnis have been numerous. For -four
weeks the number IN the United States
has been S2i, against j9i last year, but In
Canada only ~ against % last year.
Tho business failures during the lasI
seven DAYS number 22j, compared with
22s last year, and 2i0 the week previous Il
the last. For the corresponding week o
last year the failures numbered lsi.