The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1889-06-27
WEEKLY TRADE REVIEW.


General Statement of the Commercial
Situation Throughout the Country.
New YORK, June pr. G. Dunn d Co.'s
Weekly Review: There il better feeling
with larger transactions in iron and wool,
aud crop prospects are more favorable.
But the agreement of raj way presidents
has not prevented renewal of the strife
and the decentralization Of rates is spread
ing widely, and meanwhile the exports OF
gold to-day will exceed 81 100000.
1t the railway outlook continues to DIS
Coinage foreign INV stors and banks be-
gin the last half of the year with low re-
serves, gold going out and large crops to
be moved, the monetary prospect will not
| be quite encouraging. At Milwaukee con-
linued wet weather retards business, which
is rather quiet.
Operations in the iron trade are gen
orally dull at Philadelphia, but marked
| i'm provement is noted at PlUtsburg and in
a less degree.
At Cleveland the demand for money lie
rather active there, but generally very
moderate with collections not on the whole
perceptibly better.
Rains have decidedly improved crop pros
poets in the northwest SO that there is n
great hopefulness under all comm eroial sup
ports from that section, and the demorali-
~ ,4;oo of roiI ratao 10 oOmmcnlv snnpOsed
to prompt better returns to farmers while
the difference in the cost of transporting
eastern products TO western consumers is
already considerable throughout the
region north and west of Illinois. Better
prices for iron are reported at Pittsburg,
at Philadelphia ana to some ex
tent here, the advance on
many kinds of pig iron being about SOC
per ton, but northern NJ. l can
still be bought here at $16.5O to SIS and
southern No. at $16.25 to $3.50 per
ton.
The markets for manufactured products
are stronger and higher. In cotton re-
cent hopes have not been realized. 1t is
even stated that the Reading company has
not received a single order on the late ad-
vance and sales below schedule are report
ed at Philadelphia.
Copper is unchanged, but tin is lower at
zoe, the production having been stlmu-
lated.
Wheat has been advanced lIc with
sales OF &C, 100000 bushels here for the week.
But this speculative movement seems
to take no account of the fact that wheat
and -four are equivalent to about 49,
100000 bushels in excess of minimum.
Stock will probably remain from the last
crop, July l, to be added to the new sup
ply, which now promises to exceed all re-
quirements for the next year.
Corn is re and oats 20 higher for no
other reason than because wheat ad-
venced.
Cotton has declined 60. The long ex-
pected break in coffee lowers the price
lIc, with sales of $4,000 lgs. But the
price is still 15c for December options,
against 81 G for year ago, and operators.
wonder that the public does not buy.
Pork, lard and hogs are fraction lower
Sugar is unchanged for this week and
leather 40 higher fors me grades.
The general tendency of prices has
been slightly upwards. Heavy shipments
of gold this week are surprise to many
and are attributed by some bankers to
the needs of the Bank of France and large
ex penditures of Americans at the exposi-
ton. But the balance Of foreign trade
has been for months 80 heavily against
this country that no such explanation of
gold shipments is necessary for June.
Thus far merchandise exports from
Now York are 16 per cent
larger than last year, with
imports somewhat smaller, bpt even these
changes would have heavy excess OF i'm
ports over exports to be met by shipments
of gold. At present the per of spec
ulation does not encourage the belief that
foreign buyers will take railway securities
largely; on the contrary the demoraliza-
ton of railr ates is only to be followed by
foreign sales.
The stock market is lower than week
ago but with great speculative strength
still shown on stock which has been con-
trolled by powerful com binations.
Business failures number 220 as COM
pared with $50 last week and 225 the week
previous. For the same week last year
the figures were 240.