Springfield daily republic. [volume] (Springfield, O. [Ohio]) 1887-1888, 1888-02-18
oUN'S TRADE REVIEW.
Business Prospects Not Looking Up At
. ssaBdstill.


. ssa1dstill.
Nrw IoRK. February ls-R g. Dun 4
Co. 5 weekly review of trade will say II
cannot be said that business has changed
for better or worse during the past week
Causes OF recent duilness and OF depression
in markets become more visible: severe
weather. prolonged strikes, and reaction
from last years over-hopefulness being
prominent. The effects a speculation based
on hopes Of foreign war are made plain by
preliminary accounts Of January exports,
showing . loss Of ti 4O0, 600 in breadstufis,
q, SOC, 900 in cotton, 81. 800 600 in provisions,
and $500 600 in oil, compared With
January, 1857. But improvement il
sxected TO appear in minor items, and
partial returns for February show better
movement. In any case, exports do not
sufficiently exceed imports thus far this
year 70 balance interest and undervalua-
tions 70 that sales of new bonds, of which
so, O00, 90 have been issued and partly
placed since January LIST, appear to have
brought in some reinforcement Of foreign
capital The Treasury has taken in s., 3OO,- =
90 in excess Of payments this week, but
money Il in ample supply here and at all
interior points reporting. The markets
vary but little ON the whole The average
pries Of stocks has not changed half of one
per cent since the year opened. The gen.
eral average Of commodities is less than an
eighth of one per cent lower than Jan. lst or
higher than February lst the natual nd
vance OF the season in some products being
balanced by lower prices in most OF the
commercial staples. The shrinkage in ex.
ports forces sloG reaction in weat, ten mil
lion bushels less having gone out in seven
mont this year than last year; at date
about S6, OOO, ,O0O bushels remain for export,
excess Of supplies for seed and food, where
as last years exports after this date were
Sc, ,O0.QU bushels. The general reduction
in elevator rates is expected TO held trading
and TO benefit producers Pork products
have neither advanced nor yielded, though
hogs are lower; oil has declined
Ike, and sugar from one-cish,h
TO . quarter. The operations of the
Trust turn some to favor lower duties.
The recent increase in confidence in tea has
been lost, and coffee options are pressed for
sale. Butter is frmer for good grades,
with no change in cheese. The large ex-
ports in cattle aud beef for January are
noteworthy. The dry goods market shows
great strength in cottons, though prices Of
many qualities are already high enough for
cent further advance in raw cotton.
There il talk of further advances The de-
mand for woolens continues moderate
though better than il was; and Woolen is
firm, but buyers are still unusually cautious
The consumption Of pig iron last year ex-
ceeded $500. 600 tons, and of all iron,
domestic and foreign. over 100000 tons
But the shrinkase o! 30 600 tons weekly in
production barely keeps prices steady, and
in bar. iron cut by large western estst-
lishment reflects the shrinkaee in demand.
Prices are now 81 50 lower than . year ago
for v>sw {er har 20 e. foe v>1.t~a
81 for rails Added 10 the light demand. ~
. cause of weakness. there is the statement
that the committees tariff bill will reduce
duties on ore TO 50 cents. on pig TO $3.50,
and on rails 10 $ll The strikes
in the anthracite region cause much
distress, but no prospect Of speedy set
tlement appears. Connelsville coke works
shipped but 20 00O cars in January, against
Is, 600 last year, but the prospect Of any
agreement j. considered gloomy. The two
areat causes OF depression in iron manufact-
ure. railroad wars and the cessation of
house building in many cities. still affect
ary show an increase but slightly greater
than the increase in mileage 1t is repre-
eented that Western roads are losing 81 , ,UO0, =
COO per month through the war Of rates, but
this is only in comparison with the increas-
ed earning which the advance in rates has
secured for the past nine months
Managers meet this week to
attempt settlement, but little
hope is expressed. No compact can
entirely remove the consequences Of build
ing two roads where there is traffic
enough for one. At ST. Louis Kansas City
and some. other western towns low rates
have caused considerable increase in bus
inea activity. but at most points trade is
reported quiet or dull. with unfavorable
weather and imprscticable roads commonly
assigned Is the cause. throughout the west
and southwest In southeastern States
business opens with bright prospects,
Business failures during the last seven
days number for the United State 2S6,
Canada 81, total c'3; compared with l67 for
the corresponding week last year.
Rim To RRtISA