The daily citizen. [volume] (Asheville, N.C.) 1889-1890, 1889-09-28
TRADE REVIEW.
DUN * CO.'S REPORT OF THE
CONDITION OF BUSINESS,

Business Indications Generally
EHaHOrablc-Tra1e More Active
an INCREASE iii Exports Noticed
The Monetary Situation.
NEW YORK, September pr. 6. Dun
& Co.'S review OF trade tOT thg week says:
Business indications this week are gen
orally favorable Throughout the North
west the colder weather has made trade
more active, and at the East improving
manufactures and the heavy export
trade stimulate business of all kinds
Exports from New York for four weeks
exceed last years by % per cent, and
like gain elsewhere would mcana an excess
Of exports over imports for the month
approaching $9,OO0,O 900. The increase
in imports here has been but 3l2per cent.
but that excess would not meet the
allowance for interest under valuations
and freight charges; ST that foreign eX-
change has advanced during the week
l2c. The Bank of England has raised its
rate from / to > per cent, and that bank
lost $3.50, 900 specie for the week, the
Bank OF France also losing S2,275, 900,
and the Bank of Germany So, 12+OOO.
These evidences OF foreign demand, with
the low state of reserves at New York
render monetary futures less loose, and
the rates for money have advanced du-
ring the week fully l per cent. on call,
with increasing caution in commercial
loans.
The treasury has helped during the
week by disbursing So, 100 900 more than
it has taken in, and reports from interior
points all Indicate an ample supply OF
money for legitimate needs, and no sttim-
gency.
Until Thursday the stock market had
been comparatively inactive, though not
declining. But a sharp advance has since
appeared, putting the average Of prices
fully SOC. higher than week ago Re
ports of foreign buying Of securities are
circulated, but the market seems still
mainly confined to professionals, though
its advance should indicate a stronger
confidence as to the monetary future and
also as to the early settlement of rates.
Manufactures are clearly improving.
At Boston the sales of wool have been
So $500 less than for last week, with
prices about steady, and the demand is
more active. At Philadelphia manutact-
urers are also buying, though with eau
ton. No present change is noted in the
goods market, which, indeed has been
less active since the storm but there is
growing confidence that business going
to improve.
The demand for iron and steel still
meets the very large supply, and changes
in prices arc all upward. Pig iron can
still be had at Sl6.75 for Southern and
S17 for Northern No. /, SIG for No.
and SO for mill but from 81 to 81 80
more is paid tor preferred brands.
Blooms have advanced 81, bar, plate and
structural mills are basy, and while 500
is asked for rails at all the eastern mills,
and $50 quoted at Philadelphia, such
prices are not vet established by the con
siderable sales.
At Pittsburg $31 30 is quoted, and at
Chicago $33. The rise from the lowest
point has been So at the Eust, So at the
West. The scarcity Of manganese ore,
which has risen So at Pittsburg, is an
important element. Coal is rather
stronger, but the demand docs not vet
meet the supply. Copper has been a
shade stronger abroad, but dull here at
lie. for lake, and preparations to refine
the large Anaconda output by clcctl O.
lytic process promises to greatly in
crease the supply of better qualities
Wheat has risen 2aSC during the week
on sales of $4,000, 900 bushels, not be
cause of larger foreign demand, but be-
cause supplies coming in do not grade
so well and are not So large as was eX-
pected. The price is low at best, but
there is nothing as yet TO modify the be
lief that the supply for the year will
much exceed all demands.
Corn has fallen over i2c, and oats &c.
with moderate trading.
The Liverpool corner in cotton is
threatened by general Stoppagc of
mills and a rapid movement from Anfcri-
can plantations. The port receipts thus
tar are exceeding last years by 1905
bales, and exports by 81, ,OOO; and price
mad declined thrce-siXteenthS
Coffee is quarter lower on sales of
312, 900 bags, and oil cent lower ON
small trading.
Pork products are rather stronger,
and butter two cents higher. The gen
eral tendency OF prices is upward, though
the advance for the week has been slight
but signs of a greater activity in all di
rcctions are encouraging, and the only
untavorablc symptom is the uncertainty
as to the monetary supply.
Business failures occurring throughout
the country during last week number, Tor
the United States l65, Canada -, total
l92, against 1913 last week.