Omaha daily bee., 1889-05-19
THE CONDITION OF TRADE.
Continuance of the Easy Feeling in
the Money Market.
A HEAVY SURPLUS IN BANKS.
General Trade Good in Most All Lin es
of Business-A Healthy Increase
Noted M the Amount OF
Clcnripgs.
A HEAVY SURPLUS IN BANKS.


The money market continues very easy,
and, as the bank statements given below
show, there is heavy surplus in the vaults
of the Omaha national banks in excess of the
legal reserve. Prime mercantile paper is
readily taken at TCdS per cent per annum.
Exchange is scarce and in demand at 81 per
thousand premium General trade
continues good in most lines.
Boot and shoe dealers are complaining more
than others. Collections are very fair and
the state Is evidently getting into excellent
condition financially. City trade has i'm.
proved materially during the past week. and
as labor finds employment, retailers will en-
Joy brisk season undoubtedly. Real estate
shows increasing activity, and when the pur-
chases, contemplated by the United States
government, of sites for the custom
house and postofice and for Fort Omaha
are made q boom may be confidently looked
for. The bank clearings for the week, as
reported by Mr. Hughes, manager of the
clearing house, were 81, 13S, %, an in
crease of q lilo per cent Balances were
Sy04, ,90T. 90
Money is more plentiful in London this
spring than for any corresponding period in
years past Discounts in the open market
three months bills, are now quoted at the
rate of y per cent. The conversion of the
old per cents into the new Il per cent con.
soils is said to be great success
There is an offering of 1000 bags of new
crop Brazil coffee on the New York market
understood to be seeking bids at 1870 cost
and freight terms. The price of fair to prime
coffee of the last crop in the Chicago market
Ia about l9(d2Oc per pound. During the last
ten years prices for the same quality have
ranged from &c in 1885 to 1Sc in .oS7. The
present high price is due to shortness in the
Brazilian crop, which is expected TO be fully
one.half less than the usual supply. The
United States consumes about 1000 900 bags
of coffee every year, which is u little less
than one-half of the worlds consumption.
Prominent Chicago tea men say that the
Annoy Oolong tea spoken of by Consul
Crowell as the poorest and most injurious
tea shipped from China, is simply a low grade
Of Oolopg, and Is used largely for mixing
purposes, and while il is colored to certain
extent, there is not sufficient c6loring matter
10 render it unhealthy. Very little of the
Annoy Oolong tea finds its way to Chicago.
There IS curious superstition among
fishermen that only once in seven years will
the mackcrel catch be abundant, and there
are many who positively assert that as this
is an unlucky year. q poor catch will be in
order. Whichever it may be, one thing is
certain, but few signs of mackerel have been
seen as yet.
Rio coffee continues to rule rather firm, but
with II visible supply in and afoat for our
Atlantic ports amounting to 6l3,4Si bags,
compared with only a 2SS, ,224 bags year
ago. buyers are slow in purchasing except
for current requirements. There are good
supplies on Rio and Santos holds 230, 600
bags. The Rio News says: "rhere is
good deal of reticcnce in modifying estimates
of the coming crop" The Cafe das Aguas is
alluded TO, but an out-and-out opinion as to
whether 100000 bags is too much for the
1SS9-9o crop is not obtainable. At the same
time there is no reason to doubt that much
lower estimates have been telegraphed to
consuming markets.
Sugar is booming under short supplies. If
the cane-producing countries in America
and India had turned out their usual quota,
u notable appreciation in the value of the
staple might, perhaps, have been avoided,
but it 80 chanced that the September cyclone
in Cuba curtailed that crop 2O0, 900 tons, that
Brazil had shortage of sc, 600 tons, and that
the small West India islands were backward
and also produced less
MISNEAPoLIs, Mimi, May l5.-The North
western Miller to-day says "Although
there were fifteen mills which ran to a
600 mark The aggregate production
for the week was 94,070 barrels, averaging
1858 barrels daily, against S., 22O barrels the
previous week, and no. 300 barrels for the
corresponding time in 1888. Fifteen mills
| are in operation again to-day and indications
point to quite gain in the output for the
| week. Most of the mills got some orders
ahead last week and although the demand is
light now they are grinding stronger to fill
them. A very fair call for -four was enjoyed
up to Saturday, but local mliers at that time
became little tirmer in their views, and
| jobbers having temporarily supplied their
most pressing needs, there has been relax
alton again in the demand. There are a few
| firms tnat report nearly as good u trade, but
the majority say that there has been a ma
terial falling off in sales since Monday.
"Nea-lv fifty thousand barrels OF -four,
mostly patent, were withdrawn from store
at Duluth during last week, leaving 1860
1 in store there Saturday. Considerable held
| i'll store here Is also being shipped. The di-
rect exports of -four for the week were 35,-
| 600 barrels, against Al, 5000 barrels the pre-
| ceeding week Quotations: London C. l. f..
| $50 pounds are: Patents, 35035s; bakers,
s4l, $50 bushels of wheat received for the
| week ending May IA. The shipments were
Wheat, $4,000 bushels; four 3d. ,037 barrels
| millstuff, 1855 TONS"