Press and daily Dakotaian. (Yankton, Dakota Territory [S.D.]) 1880-1889, 1889-02-04
|THB WEEK IN TRADE.
Numerous Embarrassments and GEN.
eral Complaint as to Collections.
R. R, STOCKS LOOKING UP.
An Average Advance of Sill per Share
During the week-Iron Market Still,
Inactiye-coal In Little De-
mand-Money Plenty.

10 tttt tbSliiE, utia iaiiuiS u
to distribute goods purchased in expec.
tation of the usual demand for the sea-
son causes numerous embarrassments
and general complaint as to collections,
But there is of late a revival of interest
in stock speculation, and increasing
confidence that the new agreement OF
the presidents will bear fruit tends TO
support better prices for securities,
Swelled by speculation in stocks and
products, the c%learings through the
banks show a much larger volume OF
business in January than for the same
month last year: and for the last week a
gain of III per cent, at all cities, and
1871 per cent. outside of New York,
But half of this outside gain is due to
active stock operations at Boston alone,
though the transactions at most Of the
western and southern cities show large
gains, and only four cities out of thirty
nine show smaller transactions than a
year ago.
During the past week stocks have adj
vanced, on the average. 81. II per share,
and there is more evidence of non-pro.
fessional buying than has been seen at
any other time for months. There are
still reports of cutting in freight rates, and
the refusal of the Burlington and North
ern tx enter the Interstate agreement
unless the Lake Superior lines do, seems
apprehensive, but the situation is clearly
more favorable on the whole, and the
earnings of railroads reporting contin
ues decidedly encouraging,
Speculation in products has been rather
more active, and as to price more lr-
regular.
Wheat has declined lie for the week.
with sales here of "a 900, geo bushels,
but there is still no evidence of much
buying on foreign account except to
cover speculative sales. Fairy tales
about stocks on hand are still circulated
by interested parties, but are met by
heavy shipments from the farms and
sales by farmers, who grow tired of wait
ing for 81. so wheat.
Corn and oats have stiifened a fraction
with moderate speculative dealing.
Oil has risen ac, with sales here Of
$500, 600 barrels.
The cotton market has not changed as
to prices, though sales have reached 423,-
900 bales and most of the southern esti-
mates point to a yield about as large as
that of 1887.
Coffee is only 4c stronger but increas-
ing distribution at full rates gives con-
fidence to holders. ssssags
Tea is firm and in good demand at a
reduction.
~ Prices for butter cheese and eggs have
been rather depressed.
Leather is said to be lowerthan at any
other time for thirty-hve years.
The general average of prices of all
commodities has declined 4 per cent.
for the week and q per cent. since
Jan. l..
The market for iron does not improve.
Philadelphia reports sales of Is, 900 tons
of southern, and prices are about ST for
No. 1, against SIT. so for northern. Bar
iron is more active, with prices not i'm
proved, and plates are disappointing,
Sales of steel rails at Pittsburg are re.
ported for $26 and an eastern mill has
sold for Chicago delivery at S3G. go. equal
to S27 at the mill. The prospect is that
some furnaces will presently shut down,
but the accumulation of pig iron in
January must have been considerable.
Coal is duh and the mines working
short time. In the coke regions the de
mand is slack and the ovens working
four days in a week.
Copper declined sharply, March sell.
ing at l6 cents, but reports that the syn
dictate had adjusted its difficulties caused
IGCoNcly ~ DIV. LII was WSdh d
S21. 60 for spot and lead at So. 70.
The business in dry goods has been
rather better. The movement of staple
cottons is moderate but 1T usual prices
and print cloths have risen to 4 1.6c.
Dress goods are in fair demand and
steady in price, and wooden goods are
more freely moved though buyers lack
zest.
Reports from other cities are remarka,
bly, uniform in tenor; trade quiet, MONEY
in abundant supply, and easy, with but
moderate demand. The exceptions are
st. Paul. where a slight stringency is
observed. and Omaha, where the de
mand is active; Nashville, where trade
is now quite active, and Milwaukee,
where higher rail rates threaten to close
some factories. From nearly all quar-.
tiers it is reported that the outlook fol
future trade is considered promising,
AT New York the car drivers strike
seriously interrupts business for the
time.
The foreign trade continues large, ex-
ports for five weeks exceeding last years
by 10 per cent, while the imports at
New York increase only 3 per cent.
The treasury operations disclose a
rapid return of silver and silver Ger.
~titieates. so that of these kindsof money
SO, 300, 900 less is in circulation than a
week ago, but the circulation of gold
certificates has in increased 81, 800, 600, and
Of legal tender 500, 600.
Foreign exchange is undisturbed and
no signs appear of foreign withdrawal
of capital.
Total failures during the past seven
days number: For the United States,
29l: Canada, Al; total, 332, as against
342 last week and 279 for the correspond,
ing week of last year.