The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-10-27
TRADE SHOWS UP WELL.
POLITICAL EXCITEMENT FAILS TO
MAKE TIMES DULL

The Volume of Business Surprisingly
Large, all Things Considered-An
Increase in Bank Clearinss il Nearly
Every Part of the Country Effects
of tho Speculative Mania
New York, Oct. 26.-R. G. Dun & Co. 8
review of trade for the week says: Politi-
cal excitement must have prevented great
ma transactions during the past week,
and yet the volume of business has been
surprisingly large. Outside of New York,
there is a general increase in the bank
clearings over last year of about II per
cent. hut substantially the entire increase
of 20 per cent at Boston may be traced to
unusual speculation in stocks; probably the
gains of per cent. at Philadelphia,
and Al per cent. at Sau Francisco are
mainly of the same nature, and speculation
in wheat and other products swells ex-
changes at Chicago aud st. Louis. Yet,
outside of these points taere is q consider
able and general increase In clearings, ana
III view of the large dealings earlier III the
season this increase, even in the heat OF
presidential contest, Indicates a remarkable
expansion Of trade At New York, on the
other hand, decrease of 10 per cent. APP
pears, which the difference in speculative
activity does not fully explain.
FOREIGN TRADE
Foreign trade as a whole is smaller than
a year ago, but not enough smaller to effect
exchanges materially. At New York for
the three weeks of October, the exports
have been "a per cent larger, and the i'm
ports 5 per cent. smaller than last year. At
all ports the imports for the month Of
September were S1900,000 smaller than
last wear, while the exports were 80, 100000
smaller, so that the excess of imports over
the exports of merchandise was only 81
249. S24. Outside of the five principal
classes, named a week ago, the exports il
ased g., coo, or Il per cent. de-
cidedly encouraging sign. But the prices
of breadstutfs do not SO yield as to prOmiS,
free movement, and the excess Of the H.
ports over the exports for the past eigh
months has been more than $94 ,900,000
INVESTMENT SECURITIES.
Inquiry for good American securities has
not ceased In Europe, but the course of
events here is such as to produce some dis
enlargement on the part of holders. While
the average prices Of stocks is only about
81 per share lower than week ago, the
passing of S )me dividends and the decline in
favorite securities at Boston have weakened
the market An advance in west-bound
rates is announced for Oct. 20, ranging
from one-third for the lower to one-half for
the higher classes, but east-boupd traffic is
still in unsatisfaCl DRY shape. The purchase
of the Georgia Central by the the Richmond
Terminal Company looks toward continu-
ance of consultations, but the unwelcume
fact remains that expenses generally In
crease more than the earnings Remark
able activity in the stock market, one way
or the other, is generally expected soon
after the election, and It may have some
effect upon finances and general business.
SPECTATORS DIsTRUsTED.
The collapse of the lead combination and
the failure of the chief Spectator has in
creased the distrust of Other speculative
movements which disregard legitimate con-
sderations. But wheat is cents higher
than week ago, with corn a cents lower,
pork so cents per barrel, hogs 40 cents per
100 pounds, and lard so cents lower. Coffee
has fallen q cent, refined oil q and crude
certificates cents. A slight advance
in cotton and rise of 4
cent in leather are the CHIEF
changes in the other direction. The general
level of all prices settles downward, in spite
of the continued expansion of tbs circula-
ton, having declined about per cent. dur
ing the past week. The iron market is less
firm, though still of a waiting sort, but
there are intimatiOnS that less than $2S has
been accepted for rails
THE COAL TRADE
The coal trade also shows signs of weak
ness, while the output for last week reached
96S, $40 tons, and the accumulation of stocks
seems rapid.
In wooden and cotton manufacture no
change is noted, but although dry goods
transactions are called irregular, symptoms
Of better demand are reported.
As usual interior reports indicate
very satisfactory condition of
trade, and these accounts are so gen
eral that only few exceptions call for
mention. Less activity is noted at Pitts
burg, quiet trade and slow collections at
Memphis and slower collections at St Paul,
with more careful scrutiny of accounts by
bers. AT Cleveland, too. manufacturing job
is rather hesitant, and the money market
tends towards stringencv.
Considerable liquidation appears at At
lanta, but increasing cotton receipts give
promise of greater activity there and at
Memphis.
The treasury continues to supply the mar
ket literally with funds, having paid out
during the past week 81 500, 900 more than
it has taken in, the excess being in silver
certificates.
The business failures occurring through
out the country during last week. number
for the United States 222, and for Canada
80, a total of 254, against PA last week.
ST. LOUIS WINS TOO LATE.