The Russellville Democrat., 1890-05-22

TRADE AND TRAFFIC.

/ X. G. Dunn a. Cos Weekly Review of the
| Country's Trade-A Tendency Toward
Lower Prices in the Grain Markets-Cot-
ton Sluggish and Coal Weakening
| General Trade Only Fair-The Weeks
Failures.
NEW YoRK, May 17.-R. G. Dun &
| Co.'S weekly review of trade says:
The stock market has rushed ahead until
| t has absorbed all the money within reach,
| and now some signs OF reaction appear,
with a little selling by foreign holders.
| Substantially the same phenomena has been
| observed in the wheat and corn markets,
and I'm the market for pork products. so
| the tendency has been lower prices dur
| ing the past week, as to most products that
are objects OF active speculation, and after
| a remarkable advance stocks and bonds be-
| gin TO manifest some reaction, which Is
| called healthy by operators. 1t means that
| the betting on higher prices has reached its
| limit. and now the question is whether still
| higher prices VIII actually come. In the
wheat and corn market this natural
reaction began more than week
| ago The tendency of prices
during the past week has been down
ward. wheat declining cents on sales here
| of only l4000,00o bushels; corn la cents on
| sales of 12500 900 bushels, while oats are
steady. The trade begins to comprehend
| that inside of thirty days new crop OF
wheat will begin TO come into the market
and while winter wheat Is certain to be
short, the reports from spring wheat states
indicate increase in acreage and good con-
ditop. The cotton market Is sluggish.
though with nominal sales OF 240000 bales,
for it begins to be understood that raw cot
ton at the present price can not be worked
into goods at the present price, and OF ma
terial advance in the prices of goods there is
seen no Indication. Prospects for the next
| crop are favorable oil is PSI cents higher.
| corn is weaker, and the increased produc-
| tion is sufficient explanation. The key of
| the iron business is, that railroad building
| does not increase, though it is estimated
| that about 5000 miles may be bnilt this year.
| and the demand for structural iron is cut
| down by the concession OF the eight hour
| day to the building trades In many cities.
| Coal is still weak but copper and tin are firm
| and rising. The reports from other cities
| are almost uniformly encouraging. AT
| Chicago dry goods sales exceed last years,
| and payments are fair but the clothing
| trade is dull, and the fact that bank clear
| ings are larger than ever before finds expla-
nation in speculative activity In
the grain and pork markets Sc.
| Louis reports good trade and
| supplies OF money equal 10 the demand,
while at Pittsburgh trade is rather dull, at
| Cleveland fairly active, causing some mon
etary stringency at Milwaukee, only fair Mt
| st. Paul, improved by recent rains In the
| Northwest where drought began to be
| feared, at Kansas City rather quiet, and at
Omaha good, with easy money. The mon
| etary situation at New York has not
| been altogether satisfactory. Money
| has been growing closer, and per cent.
| is now the selling rate, with every
| indication that the supply for specu-
lative uses has been nearly, IL not quite, alb
| sorbed by the advance in the market for
securities.
| Failures for the last seven days numbered: /:
| For tho United states, l9l; Canada, a; total
| 2l2; compared with 209 last week. For the
| corresponding week last year the figures
| were 207 In the United states and IS In Can
ada.