The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-02-25
THE STATE OF TRADE.
r. q. DUN g. co., REGULAR WEEKLY
COMMERCIAL REVIEW.
Moderate Improvement in Trade at
Memphis-The Termination Of the
Reading Strike Does Not Improve
Matters-The Sugar Trust shalry.

MatterS-Tne sugar Trust Snoky.
New York, Feb. 24.--The following is
r. G.. Dun & Co. review OF trade ending
Saturday, February rs: Both legitimate
trade and speculation continue dullor than
is usual this season, though moderate i'm
provement in trade is noticed at Memphis,
Charleston, Kansas City and Milwaukee,
and in speculation there has been little
more activity in stocks To natural causes
Of this season, there is added an unusual
certainty in several important branches Of
business. The termination OF the Reading
strike has come at last. As was suggested
some time ago II only increases the uncer-
tainty in the iron business. Eff
forts to settle railroad wars have
not succeeded, but new cuts cause much
disturbance. The sugar trust meets I'M
expected opposition threatening its exist
ence. Within few days the sharp rise in
foreign exchange has also rendered the
future Of the money market less clear.
The fact that the Reading strike but
slightly affected the coal business became
clear before work was resumed and it is
now felt, that with the known shrinkage
in the demand for iron, the resumption OF
work by few furnaces would be likely to
insure lower prices. A sale Of extra good
forge for Sl5.s5 at furnace Is reported and
the competition 10 secure orders for rails is
still keen. Bar iron is quoted at 81. 90, but
car building continues unusually large; the
Pennsylvania alone has placed orders for
1900 cars and seventy locomotives. Fast
ern nail makers have combined. and the
price stiffens little. Coke producers at
Connellsville have at last consented to re-
duce the price % cents, which will help
manufactures. The Gogebic mine consoli-
dation has collapsed, and the orders for
lake ore this far indicate n heavy increase
in demand. The failure Of Graf, Bennett
& Co., OF Pittsburg, produces no disturb
ance, but illustrates the over confidence Of
last years expansion. The decision
against the barb wire patents affects
plants having a capacity Of 800, 900, but
not actually producing 10000. A
decrease in railroad building must affect
many branches OF production. The mod
crate improvement in the stock market is
therefore interesting, but as yet has
scarcely lifted prices above the level of
February l. OF new bonds issued this
year, So, zoo, 900 are for the new road, and
nearly $l2,0O0,00O additional were listed
last week, but how many OF these have
found purchasers no one knows. The
quick advance in foreign exchange APP
pears TO indicate that investments OF for
cign capitalists on this side have ceased for
the present, and experienced bankers now
discuss the possibility OF early exports OF
gold. The actual exports OF goods at New
York for three weeks past show an in.
crease OF IS per cent. over the same weeks
OF last year, but no such increase Is ex-
pected in the aggregate.
The treasury has taken in $500, 900
more than II has paid out during the week,
slightly diminishing bank deposits. The
situation Mt Washington does not promise
any early action in regard 10 the surplus,
and even the bill authorizing purchases Of
bonds
Domestic exchanges are but slightly In
favor OF New York, and the movement Of
money this way seems 10 have ceased, with
some tendency 10 outgo in the direction OF
Boston. At interior points the supply OF
money In everywhere reported ample, and
collections are on the whole improving.
Trade in breadstuifs Il hindercd by for
elgn uncertainties, which keep alive hopes
OF war and higher prices.
Corn and oats have declined about
cent each, while meat has risen as much,
but Is weak again; no change Is noticeable
In hog products; oil has risen about 2
cents, while cotton has weakened. Sales
abroad and the lack Of domestic demand
weaken coffee, and In the sugar trade a
Philadelphia house offers 10 undersell the
trust, and at San Francisco news
comes OF an organized opposition
by Speckels and others. Reports
that the copper syndicate has secured
the Calumet and Hccla output for Dyears,
lead other producers TO contemplate large
increase In production. The long depres-
sion In the price Of leather Is not yet
broken, and the boot and shoe trade Is re-
ported satisfactory. The dry goods market
continues freely active for cottons, though
print cloths are shade easicr; in the Job
bling trade growing activity is noticed; but
woolcns, the prospect Of improvement IL
disturbed by the renewal Of the large sales
and pcremptory sale OF silks Is also an
nounccd.
Tho business failures occurring through
out the country during the last seven DAYS
number for the United States, 237, and for
Canada, 30, or a total OF go, M compared
with total Of 273 last week and 2s5 the
previous week. For tho corresponding
week Of last year tho figures were 200.
made up Of 1885 In the United States and %
In Canada. For the last four weeks the az.
gregaie has been o5l In the United States
against 500 last year, and i5i In Canada,
against iil.
THE RED MAN.
The Cherokees Feel Oratef,ii Toward