The morning news., 1889-05-18
TRADE IS A TRIFLE DULL.
CROP PROSPECTS, HOWEVER, CON-
TINUE FINE.

Actual Transactions a Little Larger
Than Last Year, But Depression in
Few Important Branches More
Seriously Felt The Iron Men Seem
to be the Most severe Sufferers.
New YORK, May 17.-R. g. Dun g. Co. IS
review of trade for the week says;
The business reports this week are rather
less encouraging, in spite of most satisfac-
tory crop prospects at the west, and the
encouragement thereby given to all
branches Of trade. The actual transactions
at present appear to be little larger than
last year at the same date, but depression
in some important branches of business is
more seriously felt. Thus, the accounts from
the iron manufacturing regions are not
encouraging, and a report of ten failures
during the week at Lynn is an unfavorable
sign. AT Cleveland, while trade is little
larger thar at this time last year and money
is in active demand, tie uncertainties of
iron manufacture affect the prospect. A
decrease of about 1000 tons weekly oc-
Cured during April in the output of the
charcoal iron furnaces and reduction in
eastern prices has not yet improved the
situation.
CROWDED ON THE MARKET.
Southern and western iron is still crowded
upon the market, the attempt to establish
better prices for rails resulted in nothing,
and the market for bar iron is low and un-
satisfactory. At Cleveland there have
been large sales of ore at unchanged prices
and dealers are refusing TO sell pig iron at
present prices, while the works are
pushed to their full capaity in
boiler, ship building and structural iron.
But at Pittsburg, iron is % cents lower,
though mills are refusing orders at the old
rates for manufactured iron, and merchant
steel is in demand, but at low figures. Coke
is depressed, and the river coal trade is very
bad, with the largest mines closed. A COM
promise at l cent less wages for mining
than the strikers asked has restored about
5000 miners TO work
The window glass trade is better, with the
factories all in operation.
THE WHEAT MARKET.
Rains in the northwest and continued i'm
provement in the crop prospects have been
more potent in the wheat mark ct than some
increase in exports, and the price here has
fallen ~ cents to S21l. Corn is also Is
lower, and oats q. Sales of both have been
comparatively light.
With prices lower at Liverpool, cotton
has made no further advance, though ex-
ports continue large for the season and the
receipts are falling off.
The general average of prices is a shade
lower. The movement in groceries seems
to be much larger than year ago, but Phil
adelphia reports extremely poor collections
outside. The tobacco and liquor trade there
ara not satisfactory, the reduction in the
number of licensed dealers having consid-
cradle effect.
WOOL DULL.
Wool is dull, spinners buying only ac-
TO ,n1a1ia 70 and
is much complaint among weavers and
clothing dealers Of slow collections. In
fact, the clothing business throughout the
country and the dry goods business, as
respects heavy goods, are still much in
huenced by the unfavorable results of the
last open winter. 7 he same influence still
affects the coal trade, in which, however,
there is claimed to be some Improvement.
The stock market has been thoroughly
mixed by the contest in Oregon TraBscon-
tinental and opposing movements in that
stock and Reading, while the general con-
dition of railroad properties does not ap-
pear to have improved Money is not
lacking, the treasury having paid out dur
ing the week nearly 81 000, 900 more than it
has taken in, while foreign exchange is a
sh de lower than it was a week ago.
The exports of the principal products for
April show an increase of 81 per cent. over
last year, which, taken in connection with
a small increase in imports at New York,
points to probable excess Of imports over
exports not half SO great as last year,
which was nearly l2,000,000. For the two
weeks of May, however, the exports from
Nsw York have been $412, 900, or nearly
per cent. less than last year, and a consid-
erable falling off at this season is to be ex-
pected.
The business failures occurring through
out the country during the week number
for the United States 2l7, and for Canada
IS, total of 252, against 227 last week.