Springfield daily republic. [volume] (Springfield, O. [Ohio]) 1887-1888, 1888-07-07
FOR THE BETTER
THE COMMERCIAL SITUATION I'M
PROVES SOME.
Crop Prospects Grow More Favorable
Increase In Trade-Mensy Is supsra-
bandant-Financiai Approximations are
Nowhere OF Weight at present-Dun
+ Co.. Weekly Review os Trade.

NEw YoRK, July 7.-R q. Dun & Co. 5
weekly review of trade will say: The Com
mercial situation changes little, but only
for the better. Crop prospects grow more
favorable with every week OF satisfactory
weather, and the hopeful feeling thus pro-
dnced throughout the West and South is
felt Immediately in some increase of trade
Financial apprehensions are nowhere of
weight at present. Money is superabund-
ant, and the belief prevails that the Treas
ury will prevent pressure OF disturbance
Such is the spirit almost everywhere con-
trolling, and business depends so largely
upon sentiment that hopeful expectations
count for more than present dullness. All
over the country the inactivity usual at
this season, appears to be intensified by
special causes. By doubts regarding the
tariff, by wars of rates, by labor disturb
ances or by crop uncertainties Yet
there is everywhere confidence that
better business is near at hand, and
everywhere the people are preparing
for season of unusual activity.
The business OF transportation is much
demoralized by cutting Of rates, and the
growing irritation threatens to bring more
serious reduction before long, and yet there
is a prevailing faith that all quarrels will
be adjusted somehow when traffic becomes
large, though no one can quite see how.
The spreading decentralization of rates af-
fects the stock market scarcely at all, aver
age prices having actually risen during the
past week about half OF one per cent, not
withstandine a stagnation almost unprece-
denied
Better crop prospects account for much
of the prevailing confidence Even in
winter wheat regions, where the damage
was greatest, the yield appears to be better
than was expected. while the outlook for
spring wheat improves with every week of
good weather. So of corn, which promises
large yield, in spite OF the bad beginning
in some sections The violent and extern
sive storms, of whicht the telegraph gives
advices. have doubtless done much harm,
but prior to Thursday the weather had
been most favorable.
At nearly all interior points business is
reported quite or dull, though the excellent
prospects for farmers are noted as Justify
ing confident feeling. Present inactivity
makes the supply of money ample at al
most every point, and the complaints of
slow collections are less numerous this
week. The great strike of iron workers has
little effect as yet. the belief being general
that it will not last long. Yet the success
of one large establishment in resuming
work with non-union men, and the consent
of Others 10 the terms demanded by the as
sociation seem to render a speedy settle
ment less probable Excepting firmer
tone fog bar iron, the market has not been
perceptibly affected, and reported sales of
western rails st prices equivalent 70 $27 Sc
crease in demand. Dry gooCss are dull, As
is usual after July LIST, and little new bust
ness appears.
While nearly all the great branches OF
manufacture are affected by uncertainties
as to the tariff the impression grows in
business circles that nothing will be done
at Washington this year, and that the busi.
ness kept back by uncertainty will swell
the volume of trade after Congress adj
journs. Speculative prices are stronger for
breadstuffs wheat having advanced dI ring
the week SIC corn 2ssc, and oats 1sc. Cot
ton Is also shade stronger. with butter,
cheese and potatoes, and oil has risen 512c.
The general average of prices had fallen TX
per cent from January l, to July ], but
has slightly recovered this week. Foreign
trade improves little, exports from New
York for June being only 6 per cent. be-
low last year.
: The treasury has taken in during the
past week 81 ,9oO, 600 more than it has paid
out, besides increasing its deposits in banks
81 400 600. The exchanges at cities and
towns outside OF New York continue to
fall.be:o% last years but this loss is in
-sssssrt the consequence of the great activity
eariy in the year. and for the half year the
exchanges outside of this city were but
half of one per cent below those of the first
half of 1887. At New York, however, the
decrease was 1873 per cent, at Boston, st.
Paul and Milwaukee SIS per cent, at Gin.
cinnati l0.5 per cent, and at Baltimore
l3.S per cent, while Chicago reports gain
of 80 per cent, New Orleans gain of SIS
percent, and St. Louis gain OF per
cent.
Failure during the last seven days mum
Der for the United States 1872, for Canads
%; total pa, as compared with 20l last
week, and 154 for the corresponding week
OF last year.