Springfield daily republic. [volume] (Springfield, O. [Ohio]) 1887-1888, 1888-06-02
WEEKLY TRADE REVIEW.
Broken Markets, Lower Prices, Dull
Trade, Better Crop Prospects, the

Broken Markets, Lower Prices, Dull
Trade, Better Crop Prospects, the
Features.
NEW YoRK, June 2-R g. Dun Il Co.'S
weekly review of trade will say: The past
week, broken by a holiday, has brought
broken markets, lower prices for stocks and
for products, dull trade, cheaper money,
and better crop prospects have been its
| features. The exchanges continue to indi-
cate q smaller volume of business than at
this time last year, the latest returns show
ing a decrease of 5 per cent, in which
| twenty cities share, including seven of the
ten having the largest transactions The
Improvement in crop prospects is decided.
While the loss in winter wheat will still be
large, q marked increase in acreage of
spring wheat is reported, with favor
ing weather of late. and improve
ment in many quarters where the
winters injury, was not greatest.
The effect upon the markets has been inn
portant. Wheat has fallen Az cents, corn
3H cents, and oats fraction; hogs Is cents
and lard 80 cents per 1900 pounds. Cotton
remains steady, and speculation has lifted
| coffee q quarter. But butter is in large
supply and has fallen cent Eggs are
| lower and an enormous glut of vegetables
has demoralized the market almost beyond
precedent Tea is still dull, with NO
change at auction, and the grocery trade
as whole lacks the buoyancy usual at this
season. A slight improvement in grain
freights to y dollars for wheat to Liver
pool, indicates a better export demand
since the decline in price. There is no
Improvement in the iron market; indeed,
| the acceptance of lower prices by some
southern makers in need of money has
strengthened the impression that prices
will 60 still lower. Consumers gain the
advantage in recent sales of lake ore, and
the market for bar iron has a weaker tone.
The cotton manufacture, on the other
hand, improves in outlook, and higher
prices are made for print cloths and some
staple goods, with an encouraging move
ment. No recovery is seen in woolens but
the large auction sales of hannels resulted
very satisfactorily, though prices averaged
81 per cent. lower than last years at the
first and ~ per cent. lower at
the second sale. The general range
of prices for all commodities is
per cent. lower than it was May 1st
with the apparent tendency toward still
lower figures. Reports from the interior
show better business at Omaha, st. Paul
and Cleveland, but comparative dullne.s or
quiet at nearly all points. Money is rather
close and rates stiff at Detroit, but the mar
kets at other points seem fairly or fully
supplied, though the treasury has taken in
during the week s., 2O0, 900 more than it has
paid out Bond purchases have almost
ceased, the scanty offerings being beyond
the Secretarys limits. The slight improve
ment in exports, "a per cent. for the
month from New York with a decrease of
one per cent. in imports, indicate that the
excess of imports over exports in May, over
Sis, 600, 600 last year may prove not more
than SIS, 500, 600. Yet the possibility of
gold exports in considerable amount has
depressing influence, and the stock mar
ket has shown bu; little strength, though
returns of railroad earnings continue gen.
orally satisfactory. During the past week
the average price Of stocks has declined
about 20 cents per share. In the absence
of any general movement to realize by for
eign holders of securities, the market con-
tinues quite in the hands OF local specula-
tors.
Business failures during the last seven
days number for the United States 1S6,
Canada IS, total 2O5. as compared with Dds
last week, and $50 for the corresponding
week of last year.