The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-06-09
THE STATE OF TRADE.
A BETTER FEELING IN BUSINESS
CIRCLES PREVAILS.
The Outlook as to Cereals Improves
steadily-There Is an Increase OF Two
Per Cent. in the Acreage and Condi-
ton OF Cotton.

New York, June S.-R. c. Dun & Co.,
in their weekly review OF trade, say: There
is better feeling in business circles and
in some quarters actual improvement in
sales, though on the whole transactions do
not equal those OF year ago. The better
feeling is due in part to more seasonable
weather; in part, also, TO a growing impress
sion that no disturbing changes in tariff
are likely TO be made this year, but more
largely to the decided improvement in
crop prospects.
The outlook as TO cereals improves stead
lily, so that there is now reason to hope for
large yield OF all grain except wheat, and
for yield of wheat exceeding 20,0O0,O0O
bushels or more, the estimates OF month
ago, provided the weather continues fairly
favorable.
The annual report MS to acreage and con-
dtion of cotton by the Financial Chronicle
indicates an increase OF per cent, in acre
age with condition on the whole rather
more favorable than n year ago, Atlantic
States and Texas appear rather promising,
but in the Mississippi valley all accounts
agree that the prospect is better than at
this time last year An encouraging feat
ure is the increase in the output of pig
iron, which is not large, but any increase
whatever with the low prices now prevail
ing is significant The market for steel
rails shows no change, and while the sales
OF bar iron are little larger, prices do not
strengthen.
The grain market has declined, wheat,
/ cent, corn, y cents, and oats cent,
while lard is a quarter higher and pork
unchanged. The improved crop prospects,
both in the Mississippi valley and the Pa
cifc States, at present outweigh the mod
crate increase in purchases OF wheat for
export. Sugar is unchanged In price,
and coffee has yielded u quarter.
Dairy products have recovered a little from
the depression OF last week, but oil has de-
cined cents. Views OF holders and bid
ders are so far apart rs to new wool that
the prices are hardly settled, but such
quotations as appear indicate lower aver
ace. The general range of prices OF COM
modities is about half of one per cent.
lower than week ago. In the stock market
a small recovery in prices has occurred,
but dullness prevails. Good reports oi
| earnings tit ny ihAi'd'AhN iANf'A y
between lake and rail routes and between
western trunk lines. The quick ABSORB.
ton of large amounts OF bonds recently
offered prevents any advance in foreign
exchange, and puts aside apprchen
sions of specie exports, but the mcr
chandise movement indicates a heavy
balance payable abroad, either by specie OF
securities. The treasury has taken IL
Il 500. 900 more cash than il has paid out
getting scarcely any bonds but the loca
market is glutted with money. interior
reports, with scarcely an exception, show
money abundant and business quiet o
moderate, with collections not cntirel,
satisfied. Yet the whole reports disclose
= more hopeful tone with better weather an'
better crop prospects.
The business failures during the pas
seven DAYS number for the United State
207, and for Canada twcnty.cight, or
total Of 23j, ~ compared with total 9
POS last week, and l13 for the correspond
! ing week Of 1887.
The business casualties on the Pacitl
= coast are exceptionally numerous still
there being no less than twenty-four =,
ported there during the week, which
r Tar above the average.