Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1888-05-18
REVIEW OF TRADE.

clining.
R. G. Dun & Co.'S circular of the
18th instant, says:
"Gold exports, the advance in Bank
of England rates, and bad crop re-
ports, have made the business pros.
pect less favorable. The advance by
the Bank to 3 per cent, instead Of
Is, which was expected, disclosed a
strong desire to arrest movements of
capital in this direction. Two small
shipments of gold, hardly justified as
yet by exchange rates, showed the
belief of bankers that a check in
foreign purchases of securities would
presently make considerable specie
exports necessary. The high price
and deficient yield of wheat strength
ened the impression that merchandise
exports would not increase sufficient
lyto prevent the outgo of gold. At the
same time, the failure of the Treasury
for several days to obtain bonds at the
price it is willing to pay, revived the
fear Of withdrawal of money.
"rhus far, at all events, the Treas.
ury has succeeded in paying out more
than it has taken in; $3,400,O00 more
during the past week. But the ex.
cess of revenue will soon be felt I'M
less the Secretary sees fit to advance
prices paid for bonds. At present,
money markets in all directions are
fairly or fully supplied, and great
outgo Of gold at this season is not
thing so unusual as to cause dis.
turbances. But in speculative mar
kets it would have some influence.
"Crop aud industrial reports are
not entirely encouraging. The con
dition of wheat May LIST, officially
estimated at Is, indicates a loss of
about so million bushels winter wheat,
and with significant anticipation of
the news, the market rose 5 cents in
day to 81 on Wednesday, with great
excitement. When the report came
on Thursday, realizing Of profits broke
down the price cent, but the strug-
gle between Chicago bulls ana New
York bears is likely to make the mar
ket active for some time. Sales dur
ing the week reached As, $4,000
bushels here, with an advance of }
cents for the week. The natural in
crease in spring wheat, consequent
upon railroad building last year, has
yet to be estimated, and it may be
enlarged by the reports OF shortage
in winter wheat, so that the entire
yield and the surplus remaining from
this year may yet prove sufficient for
all requirements. Corn and oats rose
but lightly, and pork products show
no important change.
Notwithstanding the higher prices
of breadstufs and meats, the average
of all prices continues to decline, hav.
ing fallen about a quarter Of l per
cent. for the past week. Business at
interior points is irregular, but on the
whole smaller than year ago, ex.
changes outside of New York show
lug a decline of about 4 per cent.
The earnings Of railroads still show
gains, but prices of stocks have de-
clined during the week an average of
more than 81 per share, under the
influence of unfavorable crop reports
and the beginning of gold exports.
In the oil marke. no change of con-
sequence appears, but coffee is
stronger at l53 cents for Rio fair, and
cotton is steady. Blu. the closing Of
hosiery establishments, employing, it
is stated, 5000 persons in Pennsyl
vania alone, in consequence OF large
imports and sales of German goods
at unprece'lentedly low prices, attracts
attention. The wooden manufacturer
d.'c!it.es to purchase material except
for immediate needs; aud the averag.
price of all Kinds Of American woods