The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-08-11
DUN'S TRADE TELESCOPE.
NO VERY DARK SPOTS SEEN ON
THE SUN OF COMMERCE.

The Outlook However Not Blinding
In it's Brilliancy- Prospects Not
Considered Quite Up TO a Week
Aeo-Reports from the Interior Full
of Confidence.
NEW YORK, Aug 1o.-R 6. Dun & Co. s
review II trade for the week says: The
crop prospects are not quite so good, and as
the recent improvement In business has
been based almost entirely upon the conf
denee in a large yield, the change
is of Consequence Corn still prom
,ses the best Of the large crops
but Is late and in more than usual danger
from possible fr0Sts. Some injury in Kan
sas from drought has been reported, but
later telegraphic adviccs tell of rains and
improvement
Cotton has not improved, aud in Texas,
where the recent outlook was very satisfac-
tory, many conf lsiats Of drought are heard.
SPRING WHEAT.
Our special crop reports for the northwest
ow that the spring wheat has been
big ted v hot winds or damaged 10y rust
or bugs in many quarters. 50 that as full
We'd as was expected is no longer possible.
Ao,ut Albert Lea and st. Cloud,
Mimi. not over half crop is
now expected In some parts of Dakota
tue injury IS considerable and TIE prospects
ase poo er IN parts # Is lsconsin. The re
u Tts are very favorable as 70 corn, and the
injury 70 oats in some localities does not
seem to require important changes in the
estimates.
PRICES LOWER
Foreign advices, indicating good crops Of
wheat IN Europe have helped to support
.aff Huf rho grfUal eTHCFts do
not answer expectations and prices have
occli1ed half a cent for the week Corn IS
unchanged, and oats ! cent lower. Hogs
aye II and lard : cents per 100 pounds
hignsr. Cotton has advanced quarter,
and oil ~ cents.
The speculative markets have not been
especially active, but the sales OF wheat
have reac1ed q. 90, go bushels here.
Ia sugar an active demand for refined
has lifted prices an eighth, while raw is I'M
changed.
WOOL STRONGER.
Wool grows stronger in the country,
farmers acting quite generally in the belief
that there will be no change in the tariff
this year.
Copper is dull, tin stronger and lead weak,
with scanty demand.
Rubber is also weak at 81 for parafflne
TIE general average of prices. which fell
scarcely az all since that time, aud is now
IL per cent above the level Of July /.
Trade reports from nearly all the inte-
rior points are full Of confidence, and at
many the actual Improvement already
noticed still continues.
THE IRON TRADE
At Cleveland the lumber and coal trades
are better, bnt irol ore is dull. At Pitts
burg there is less activity in iron, but prices
are steady and 9,337 out Of 12,061 coke |
ovens ia the COnneilsyille district
weekly at about 81 per ton.
The anthracite and bituminous coal trades
are also strong.
The failure Of a clothing house at Mime
apolis is announced but with an increase in
orders for merchandise there and at St.
Paul, Notwithstanding the damage TO wheat
and oats.
THE LUMBER TRADE IN TEXAS.
Among the new developments of interest
is the rapid growth of the lumber business
in Texas, where large sums have been in
vested and mills are pushed TO their full
capacity. supplying demands from Kansas,
Missouri and the western states generally.
An important discovery of iron ore in
Michigan is held TO extend by several miles
the known Ore-bearing territory.
There is no complaint of monetary scarcity,
though at some points distinct improve
ment in the demand is noted and collections
improve a little at Cleveland and Mil
waukee, though they are slow in Minnesota.
A superabundence here has reduced rates
10 per cent. on call, and the treasury has
just purchased another 81 COO 900, Of bonds,
but prior to that had taken In for the week
100000 more than it had paid out.
FOREIGN TRADE.
Foreign trade still falls below that Of last
year At New York it is for five weeks II
per cent. in exports, and IS per cent. in
imports. The course Of foreign exchange,
and of the stock market as well, indicates
however. that foreign capital is still com
ing hither, and the demand for investment
securities has left many dealers quite bare
OF bonds. Stocks have risen about 81 per
share, with some reaction later.
RAILROAD REPORTS
Railroad reports continue to show larger
gross and smaller net earnings than those
of last year. IL the iron market is a relia-
BILE thermometer Of business, its latest indi-
cations are rather favorable. Some stiffen-
Ing in prices appears. though there is no
Improvement in bar iron or steel rails.
Numerous announcements Of new works
about to be established or Of furnaces about
70 resume operations, show that confidence
IN the future is increasing.
BANK CLEARISGs.
The bank clearings for the last week
show a smaller volume of business at all
points than year ago by LIZ per cent, but
only l.6 per cent smaller outside of New
York, with scarcely any increase in July
out lie and a decrease of q. 3 per cent. in the
aggregate. As last years transactions
we're exceptionally large, the trade now in
progress is by no means discouraging in
volume, though the margin for profits is
exceedingly narrow in many branches.
The business failures occurring through
out the country during last week number
for the United States 205, and for Canada
-, a total Of 2SS, against ZIG last week and
81 the week previous