Omaha daily bee., 1889-01-20
The CONDITION OF TRADE.
Bankers Say the Financial Situation
is Comfortable.
AN ACTIVE DEMAND FOR MONEY,
And the supply Ample to Meet
Strictly Legitimate Wants
General Business Opens
Very satisfactorily.


Inc Local OUTLOOK.
The inancial situation is designated by
bankers as comfortable. There is an active
demand for money and the supply is ample
TO meet strictly legitimate wants.
General trade has opened up very satisfac-
torily and jobbers are we'll pleased with the
outlook. Orders both by mail ana through
travelling statesmen are liberal, and betoken a
feeling of confidence existing IN the country,
the result of q conviction that the year 1889
will be a prosperous one for this city and
state. There have been quite a number of
failures reported TO the agencies. during the
past thirty days in which Omaha jobbers were
Interested, and n somewhat nervous feeling
has prevailed among credit men, but the re-
suits do not, on the whole, foot up any
worse than is usual at this season, when it
is customary to weed out the financially
weak ones.
The produce markets have been de-
pressed by the mild weather
and prices are, as n rule,
lower, especially on butter and eggs. The
market for poultry has been active, and ganc
is scar ce aud in demand.
In groceries, corn, tomatoes and evaporated
apples are lower and the supply is very
large.
Dry goods are quiet and trade is limited to
IItSSlUR WllJS. Inc StHSOn has Depn un1uN-
orablc for the sale of winter goods and more
than the usual proportion will be carried
over.
Hardware IS fairly active and lumber men
report trade not unsatisfactory.
The New York journal of Commerce states
that importers in that city are considering n
proposition to call a meeting to devise some
scheme Of dong away with the long-dating
system on purchases now in vogue. A glance
at the books Of Il prominent house showed, il is
claimed that goods hOnuht nc carl " uS lDCt
July were not paid for until the first week in
January. An importer is reported as saying
that unless the evil of dating ahead is stopped
"it Will some day percipitate n panic that will
shake the dry goods trade to Its very founda-
ton. In q year of short crops or when money
is tight il will certainly have u more than or
binary effect upon trade. With the heavy
duties we have to pay. and the largely in
creased capital we require this system of do
ing business will sometime send some of the
lest of us to the wall"
The total imports at New York, exclusive
of specie, were s455, S74, GEO for the past year,
against SOL ,534, 595 for the previous year.
The returns show a falling off in the imports
of produce and merchandise of only s., $780,
5i5, which is much less than was anticipated
considering the general depression of trade.
II is economically stated that the price of
silver during 1883 averaged !3Hc per ounce,
as against Sl.0l1@ in 1857. The decline in
the price, it is claimed, caused "a direct loss
TO Colorado mines of Sl,456, i3S, or the re-
turn was that sum less than they would
have received for the same ounces of silver
during the previous year.
Samuel Benncr, the great financial
prophet, predicts II hot and dry summer.
He says the country is at the beginning of a
prosperous period, however, and the outlook
is for IL decided Improvement and advance
IN iron, railroad stocks, and ali manufac.
1ured commodities. A panic is the predic-
ton for 1891.
Gold coin and bullion in the treas ury
amount to sS2l, 6 ,469; silver dollars and
bullion, $3.50, 1B6, $50; legal tenders. $40, 693,-
162: gold certificates in circulation. Sl2j, 942,-
10; silver certificates In circulation,
S24j,6S2,S4; currency certificates, SlO,-
$50, 600.
The copper trust pans out well. The
dividends for 1855 of eight leading companies
are given at S3.940,0O0, as compared with
81, 400, 900 the year before.
Coffee is weaker under increasing sup
plies. Tn receipts at Brazil ports have be-
coue liberal and the imports into this coun-
try are very large.
Sugar is meeting with fair sales at the re-
Gently reduce prices. The consumption of
sugar in this country for the year lately
closed amounted to 1,451, G2i tons, an in
crease OF ", 300 tons over the previous year.
Turpentine IL &c lower ut sic.
Recent receipts of peanuts at prominent
markets had been chiefly sold ahead. Sup
plies are running very light and the best
have advanced TO I cents per pound. When
the crop was planted there were heavy rains,
then came a drouth, and when picking
started there were foundations, and the out
come of the supply was exceptionally small.
There is a great scarcity of mackerel, and
prices are maintained with unmistakuble
tirmness, the strength beng partly due TO the
fact that several Of the Boston dealers who
held the bulk Of the stock have v~eroally
agreed to maintain the market upon its pres
ent basis.
The nominal prices for steel rails stand at
$3.50 mt eastern and Pittsburg mills, and
S2000GG30,0O at Chicago. The official report
of the board of control makes the total sales
to January | for 1889 delivery 434, 600 tons.
The business to date will probably aggregate
800, coo tons. The actual deliveries during
1888 were, according to the same authority,
1,12O,0 O0 tons.
Daily Business, Chicago, gives the follow
ing compilation of figures on the wheat situa-
ton:
Estimated domestic food require
ments, on n basis of 4& bu per
crpita and n population of G3,00O,-
600 souls 800. .294, OOO, 900
Exported since July l, 1883 ....... $4,000, 900
required FOR seed ............... $4,000, 600
Gsed in manufactures, needed in
coastwise Grade, burned, etc.,. Is, 600, 900
Total 400, 900, 900
Production IN measured bu. $50. .4l5, 900, 90
Production in OO-lb bu 80. .,....,. .3S5, 600, 900
Apparent (probable) deficiency
July ], lsSo.,...... ............. 10000 600
sin other words the reserves 80 months
hence will be 81, 00O, 900 bu less than last
year on the corresponding date, making no
allowance whatever for exports from now
on, that is, providing tho foregoing data are
correct. II is at least worthy of considera-
tion.n
In an extended article on the worlds ship
ping, the New York Commercial Bulletin
states that during the ten years ending 1887
u marked expansion is shown. For the
period mentioned the total shipping trade of
the principal maritime countries increased
Al, 663, 600 tons. OF this increase Great
Britain reports Is, so, 600 tons and the United
States 3,68S, 900 tons. Great Britain, in ad-
dition to carrying three -fourths of the whole
OF her own immense commerce., carries one |
half Of ours, Portugal's and Hollands,
nearly one-half Of that of Italy and Russia,
and more than one-third OF that of France
and Germany.