Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1888-08-27
A Better Trade Feeling
R. G. DUN O. co. PRESENT THEIR
WEEKLY REVIEW OF TRADE.
GRoP PROSPECTS IMPROVE.
A Better Outlook for Growing Products
Comes from Nearly All Points, and
Is Noted as a Reason for Re-
viyal III Buffness.
NEW YORK, Aug. e5.-R. G. Dun g.

NEW YORK, Aug. 25.-R. G.. Dun g.
Co.'s weekly review of trade will say;
A better feeling grows in every direc-
tien. Crop prospects improve; manu-
f%acturers are gaining confidence. IL
would be premature to assume that no
setback viii come, for in several sections
the possibilities Of an adverse change are
obvious.
The movement in foreign exchange
may be significant. But the present
state of business is clearly encouraging,
larger in volume than a year ago, and
growing more confident in tone.
Extensive crop reports for the past
week strengthen the belief thatt corn
crop will be large, the oat crop large, the
yield of wheat not below recent estimates,
and the yield of cotton better than the
trade has expected. The injury to corn
proves really serious in some quarters,
particularly in southern Kansas, but over
the greater part of the corn-growing area
the promise is remarkably good and the
chances of serious injury by frost lessen
with every week that passes without
harm. Oats have been seriously dam
aged also in some quarters, and yet the
aggregate yield is likely to prove the
largest IN record. Texas reports ample
rain and good reason to hope that the
cotton yield may be from 1900, 900 to
], zoo, 900 bales, against 1,300,0 900 last
year. From nearly all points reported
the improvement in the outlook for farm
products is noted as a reason for revival
in trade.
The iron trade does not brighten as
was expected, though prices are a little
surong at Pittsburg. About the entire
output of Bessemer ore has been sold 1T
Cleveland, and in eastern markets the
pressure to sell southern irons mas les
sened. Yet Tennessee No. lis offered
at $17.5 80. Philadelphia notes a lack of
buoyancy, bar iron continues irregular
in price, and structural iron dull, ana the
outlook in steel rails is considered
gloomy, quotations being $28. so to $40 at
the cast, with sales at the west bringing
$8l. 25 at Duluth.
The coal trade Is phenomenally act
I've, and an advance in prices is under
consideration.
For the first time in eight years leath-
er dealers are nc longer selling on a de.
With an active demand indicate a healthy
absence of speculation.
In the wool trade, also, a better feel
ing is seen, with larger sales at Boston
and Philadelphia, and In some grades
better prices. But manufacturers still
move with much caution. Reports from
all oyer the country are more favorable,
slough dtller. Quiet trade is still no
ticed at many points. Improvement ia
more freqi1ently reported.
Money liz hfmer at many points with
an increasing demand, but scarcely any
whore is the complaint of closeness and
collections more backward than is usual
at this season.
The dry goods trade Improvement is
especially noted at Chicago and here.
A full average trade in cotton is progress
sing, with a more satisfactory movement
in woolens, especially in mems wear,
goods of spring weights, and in carpets.
The speculative markets have been
variable, wheat rising 6A cents, with
sales of 80, 000, 600 bushels here, while
osts have declined 6 cents and corn has
advanced nearly ~ cents, with SITES Of
5000, 900 bushels.
The cotton corner has broken and the
price is rs cents per 100 pounds lower,
with sales of 31S, 600 bales. while coffee
is nc higher, with larger dealings; sugar
is stronger, and oil has risen Az cents.
The rise in foreign exchange from 4S7
to 4S7M is spoken of as due to temporary
causes. This is not clear. Exports do
not improve and the balance is heavy
against this country; prices of exporta-
BILE products advance rapidly; sales of
securities on foreign accounts have al
ready contributed te a reaction in the
stock market and it is not impossible
that the presidents message, looking to-
ward retaliation, may incline some for
eigners to Withdraw capital or realize
profits in the impression that interna-
tional relations may be disturbed. Any
considerable return Of foreign capital
here would tend strongly to change the
outlook. The treasury has been putting out
money more freely, holding SO, 100, 600
less than a week ago, and the reserves
at New York are still unusually large.
At the same time reports of agreement
on Thursday between warning western
roads, and the improving crop prospects,
tend TO help the market for stocks. But
the increase in the number of failures
continues. For the four weeks past the
record covers ITO in the United States
against 602 last year. Business failures
during the last seven days number for
the United States 1877, for Canada 27,
total sl4, as compared with 219 last
week, and 1877 for the corresponding
| week last wear.