The morning news., 1889-05-04
A DULL WEEK IN TRADE.
BUSINESS GIVEN UP FOR THE
BIG CELEBRATION.

Collections Fairly Satisfactory Except
in a Few Instences-Reports About
the Wool Trade Contradictory he
Market for Rails Not Improved
Stocks Neglected-The Weeks Fail
ures.
NEW YoRK, May 3.-R. G. Dun & Co. s
review Of trade for the week says: The un-
preceden ed interruption OF business by the
centennial prep rations and celebrations
have made the week nearly blank in COM
mercial or financial respects. At New
York accumulated orders gave the surface
an appe rance Of greater ACTIVITY Thurs
day d Friday, but 1t is yet too
soon to judge which way tie tide
will turn, and reports from other
cities, though nearly all hopeful in tone. do
not indicate the expected improvement.
Tie situation seems better at Milwaukee,
satisfactory at Omaha. good at Cleveland,
AS 10 most branch 5, but Questionable as 20
iron rather duu at Kansas City and st.
Paul, and less encouraging at the chief
csnterS Of the grain, iron, coal and leather
trades. Collections are ''far from satisfac-
tory at Milwaukee, not improved at De-
troit, and rather slow in groceries, tobacco,
and woodenware at Philadelphia, but Ia
other Ii res, there, aud at other cities gen
orally, they seem fairly satisfactory, and at
New York some dry goods dealers complain
that collections are 800 good'-buyers
keep so far within their means.
wooLES OPERATIONS
The reports abou the wool trade are con-
Trajectory; here prices are lower, but Phil
adelphia reports more sales, and a prospect
Of an adva zee. The report that the treas
ury may not decide the woolen-w wors ed
question for months disturbs importers who
nave quantities Of goods locked up because
collectors wait for the decision. Other wise
the woOlan trade shows a little better move
ment, but the mills are not working at
nearly their capacity.
.C1tJon has advance * and print cloths
1-l6. and there IS a more active jobbing
trade, but IN some lines at reduc ion in
prices, and mAuy mills are working on
sh rt time.
Silks are quiet, but linens are quite ac-
tive
In the leather trade general discourage
ment Is by some. though tae precursor OF
better thing, and fair business in boots and
shoes continue, helped by the recent de-
cline in the prices Cf some grades.
IRON AND STEEL.
On the other hand, the recent signs of
improvement IN iron ald steel have not
been sustained. Hece and at Boston
southern \ pig has been offered at S16,
and though by new companies to Introduce
their products, the etfec on the prices of
other iron IS felt At Philadelphia, though
-alas are hard to make it is said that
there is very remarkable feeling Of co l.
fidence. but at Pittsburg prices are lower,
sales OF manufactured iron more difficult,
and large sale of steel rails at S26 is re-
p plrted here t. have been made by Pitts
burg mill. The atte npt TO lift prices OF
bar iron at Philadelphia does not seem to
have succeeded, but structu al, plate, sheet
and boiler iron are in good demand there
at Cleveland and here.
WHEAT LOWER
Wheat goes lower, having sold at s9A
Corn has declined 6 cents, and oa cents
since last week Drea rs of successful C ,rn-
ers prior TO July, are still cherished but all
the facts OF the present stu ltion make the
attempt appear extra-haza ardous.
Pork is unchan nged, with lard aud hogs a
shade higher; coffee and sugar are un-
changed; but oil is Is higher.
In general, the course Of prices still tends
downward. but man produ,ts OF large
muc further decline is expected, while a
quick advance nigh follow a revival Of the
demand OF speculative confidence.
STOCKS NEGLECTED..
Stocks have besn neglected and dull, but
little stronger in pr ce. with a disposition
to believe that the next considers able move
ment must be upward. Yet. in spite Of
some excellent reports, the earnings do not
generally compare with last years IS well
as they did in January or Fsbgua y, o say
nothing of March, and the quito come of
controversies at the west sesml fully as
doubtful as ever. The future OF the mar
ket probably depends much upon the move
ments of money and the feel ng of foreign
investors, and for the moment both fav n
the holders, but bankers look upon con-
siderable outgo Of specie as not i'm probable,
and the policy of Secretary Wi Idom as ia
as 1t has been made known does not seem
likely to cause large disbursements before
July.
FAVORABLE FEATURE.
The one favorable feature is that the
merchandiss exports are stll large, for the
four eeks Of April at New York, exceed
ing last years by St,300,000, Or Is per ceIt.,
the increase in impo {, here having heen
only 3 pr cent But the treasury mas taken
in duri g the week 81 5000 mo than it
has paid out, aid there are many reasons
I expecting that exports of merchandise
NAV presently dec ne.
The siness failures occurring through
ont the cou try during he last week num-
ber for the it'd 5 ate 49, aud for Canada
20, total of PA, against 2l3 last week.