The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-10-13
TRADE HOLDING ITS OWN
SPECULATION MISCHIEVOUS IN
ITS INFLUENCE.

Quotations Which Show How Prices
Were Kicked About During the
Week-Later Advices from the Cot
ton Crop Less Satisfactory-Activit
in the Northwest Follows Chicago's
FURRY.
NEW YORK, Oct Pr. G.. Dun 6, Co.'S
review Of trade for the week says: The
past week has shown the miscnievous in
fuelce Of speculation ard the artificial
nature Of current prices. Wheat rose about
S cents per bushel, broke IL cents in two
days, and again rose rapidly, closing 1913
cents higher than a week ago. Corn ad-
vaLced a fraction, but receded. Oats
have risen one-quarter of a cent. and
coffee about three-quarters of a cent, but
lard has fallen nearly l cent, and fictitious
prices in cotton have yielded with quota
tions one-half cent lower. Oil has fallen -
cents, and the sudden advance in hides
having resulted in dullness prices have
yielded one-half cent These fluctuations,
in the main without any reason of con
ditIons Of demand and supply, have q ten
dency to retard all legitimate business.
GAMBLING SMELLS THE VOLUME.
But gambling swells the volume OF transac-
tions, 50 that clearings at cities outside New
York show az increase of 10 per cent. over
last year, with gaius of 391{ per cent. a
Chicago, and II per cent at st. Louis,
where wheat speculation RACES, and 81 per
cent. at Bosto1, where stocks
have been f1uctuating wildly.
Flour has advanced from 81 Is for shipping
grades, TO 50 40 per barrel for patents, or
80 to 43 per cent, and such an advance is
fly,1vr TO, 4 10, .
SUMPTION. Exports have been virtually
stopped from the Atlantic ports Only
276,4S5 bushels went out last week.
Meanwhile the corn crop is estimated al
,, 900, 600 bushels, and the cheapness of
corn tends TO lessen the home demand for
wheat
COTTON REPORTS.
Later advices as to cotton are less salts
factory, and in Louisiana, Mississippi and
the eastern gulf states the yield will fall
below last years, but the market declines
because the previous price was fictitious
At current figures there is sea! cely any
margin for profit i'll exports.
Interior reports show that business con-
tinues satisfactorily active, excepting where
traffic is still Interrupted by quarantines at
the south.
An early frost, which cotton growers
dread, is anxiously awaited by business
Ilels WIZ lOuk LDI Tue dDdJcLltlb VI bllH
fever and alarm, and the return Of normal
activity in distribution ard collections
AT Nashville and New Orleans money is
somewhat tighter, and at Baltimore south
ern collections are reported very unsatis-
factory as yet in part because of the late
ness of the cotton crop and the delay in
marketing it.
ACTIVITY IN THE NORTHWEST.
On the other hand higher prices for grain
prompt greater activity in the northwest,
and nearly every report from that quarter
indicates better trade. and an increasing de
mand for money, with supplies generally
adequate and collections fairly satisfactory
or improving.
The capacity of the iron furnaces in blast
Oct. l was 1l9, 1879 tons weekly, of anthra-
cite and coke iron only, against ia ,632 ions
Sept. l. and l2S, 563 tons year ago In char
coal iron, tie changes are probably not
large; but while the markets are firmer and
| SIS 80 is quoted at Philadelphiq. the Thomas
Company continues to sell No. anthracite
at SIS.
Bar iron is firm at the recent advance,
and the fact that only IS per ton is asked in
exchange of new steel for old iron rails has
led 10 some sales, of which 1900 tons are
reported for eastern mills.
The market for rails is disappointing.
BOOTS AND SHOES
The boot and shoe market Is slow. The
west reports an advance in prices OYER last
year. 1t is reasoned that manufacturers
can afford to meet the market.
Il dry goods there is general complaint
Of dulness, and many look for no change
until after the election.
The merchandise imports last week were
II per cent. smaller than last years, and
the exports from New York also show a
shrinkage Of per cent.
Railroad earnings continue large, but the
crop prospects do not favor confidence in a
| continuance of the traffic through the win
ter on last years scale. Unless the prices
of exportable products yield, the export
movement, for some months to come, may
| fail much below expectations
The business failures occurring through
out the country during last week were /:
United States 1913, Canada "a; total 227,
against 2l1 last week.