The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-06-17
CONDITION OF TRADE.
r. q. Dun g. Co.'S Review for the Week
Ending Today.

Ending Today.
NEW York, June 15.-R. q. Dun &
Co.'S review OF tho week ending Sat-
urday, June 10, has this The moderate
improvement in trade noticed week ago
does not yet seem to be more than the
slight reaction which occasionally breaks
period OF uncertainty and comparative
inactivity. The signs OF a lasting improve
mcnt in trade do not yet appear. Uncer-
tainty still prevails and buyers are con-
sentative, combining their transactions to
immediate wants in most branches OF bust
ness. In some instances, moreover, the
cold and wet spring has so far curtailed
trade the retailers are carrying over stocks
larger than usual. There is uncertainty
about the tariff and its effect upon many
branches OF manufacture, about the crops
and the foreign demand for exportable
products, about transportation rates in tho
near future and about financial prospects.
Crop prospects have not changed for the
worse, but the extent III loss in winter
wheat is more definitely realized, while
the prospect rs 20 spring wheat and other
crops Is necessarily vague. With favorable
weather the general results would prob
ably be fair, and in some quarters decid-
edly hopeful feeling begins TO prevail.
Want Of confidence in the near future is
the prevailing tone in all the markets.
This cannot be attributed 10 financial in
fluences, for money is over abundant and
quoted at ] per cent. here, notwithstand-
ing the renewal Of gold exports. Tho
treasury has raised its prices paid for
bonds, taking large amount one day, but
the only considerable offers since have
been =, 100000 ut an eighth above its
new limit for Is, and like amount throe--
eighths above its limit for AS. Thercisa
growing impression that bonds will not bc
forthcoming at acceptable figures II II be-
comcs.important for the treasury 10 make
large disbursements. During the past
week the treasury has taken in 81 100000
more than II has paid out, but the banks
still receive some money from the interior.
though at some northwestern points money
Is now going 10 the country and not 10 the
east There Is no report OF stringcncy or
closeness anywhere, but complaints Of
slow collections do not diminish.
Tho volume OF trade OF interior cities Il
very good at Omaha and Minneapolis, but
generally below that Of last year. The ex.
luth VI Ntft
larger In value by - per cent, than in the
same month OF 1887, but because Of tho
heavy cotton shipments. The exports
from New York Tor the past two weeks
show n decrease OF Is per cent, with only
n slight decrease In imports. The iron
trade manifcsts no improvement, though
sales OF $1,000 tons Of steel rails are re.
ported for so at the mill, and the allot-
ment Is said TO be disregardcd by somo
eastern makers. Southern pig Is quoted at
sl7 for No. !, but the quality Is not In all
cases found satisfactory. Bar iron Is
weaker, with Sl.75 10 Sl.S0 quoted for
large lots Of best refined. In the dry
goods business there Ia n lack Of activity,
and yet in cotton goods a more confident
feeling, with print cloths higher ut S3.S7,
and low grades Of blcachcd goods very
firm. Woolens are still dull, with very
good transactions for mems goods, and
wool u quoted lower at Chicago. Spccu-
ators have bought considerable quantities
OF southern wool In the belief that there
will be no change Of duties and the rates
hold nj prices above the market Spring
trade In wholesale clolhingdoes not appear
20 have been very satisfactory, and II n
believed that retailers carry over unusually
large stocks, though prices have been re.
markably low.
The business failures occurring through.
out the country during tho last seven
DAYS number for the United States 200 and
for Canada %, or total OF 232, as com.
pared with 235 last week aud POS tho
week previous 20 the last For the cor
responding week last year the figures
we're 2l3, made up OF 1893 in tho United
States and 20in Canada. Failures are still
unusually numerous ON tho Pacific coast,
| being ~.