The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-02-25
TRADE AT A STAND STILL
A MODERATE IMPROVEMENT FELT
AT SOME POINTS.

Unusual Uncertainty in Several
Branches Of Business-The Outlook
of the Iron Trade Not Affected by
the End of the Reading Strike-War
on the Sugar Trust.
New York, Feb. 24-R. G. Dun g. Co.'s
review of trade for the week says:
Both Legitimate trade and speculation
continue duller than is usual at this season,
though moderate improvement in trade is
noticed at Memphis, Charleston, Kansas
City and Milwaukee, and in speculation
there has been lttlo more activity in
stocks. To the natural causes of dullness
at this season there is added quite an I'M
usual uncertainty in several important
branches of business The termination Of
the Reading strike has come at last, and, as
was suggested some time ago, it only in
creases the uncertainty in the iron business.
RAILROAD WARS.
Efforts to settle railroad wars have not
succeeded, but new cuts cause much dis
turbance
The Sugar Trust meets unexpected opposi-
ton threatening its existence; operations Of
other syndicates or combinations make it
impossible to forecast the future in many
trades, and meanwhile the uncertainty
as to Congressional action on
the tariff is in no degree
lessened. Within few days sharp rise
in foreign exchange has also rendered the
future of the money market less clear The
fact that the Reading strike but slightly
affected the iron business became clear be-
IoTe work was resumed, and it is now felt
that with the known shrinkage in the de-
mand for iron, "A resumption of work by a
few furnaces would be likely to insure lower
prices. The sale of All extra good forge for
SO So at the furnace is reported, and COM
petition to secure orders for rails is still
keen.
A DEMAND FOR CARS.
Bar iron is quoted at 81 90, but car build
| ing continues unusually large. The Penn
sylvania alone has placed orders for 2,200
cars and 20 locomotives
The Eastern nail makers have combined,
and the price stiffens a little Coke pro-
! ducers at Connellsville have at last con-
sented to reduce the price 25c., which will
help the manufacturer The Gogebic mine
consolidation has collapsed, and orders for
lake ore thus far indcatea heavy decrease in
the demand. The failure of Graf, Bennett& 81
Co., OF Plttsburg, produces no disturbance
but illustrates the overcoufidence of last
years expansion. The decision against
barbed wire patents affects concerns having
capacity of 100000 tons, but not actually
producing 10000. Without wider de-
road building must affect many branches of
production.
THE STOCK MARKET
The moderate improvement in the stock
market is therefore interesting, but as yet
has scarcely lifted prices above the level of
Feb. !. OF the new bonds issued this year
S54, 900 are for new roads and nearly
$12, 900, 900 additional were listed last week,
but how many of these have found pur-
nIa No Et1 ha
in foreign exchange appears to in
dicate that investments of foreign capital
on this side have ccas q for the present, and
experienced bankers now discuss the posi-
bility Of early exports of gold.
The actual exports of goods at New York
for three weeks past show an increase of
35 per cent. over the same weeks of last
year, but no such increase is expected in
the aggregate. Domestic exchanges are bu5
slightly in favor of New York, and the
movement of money this way seems to have
ceased, with some tendency TO out go in the
direction of Boston.
IN THE INTERIOR
AT interior points the supply of money is
everywhere reported ample, and collections
are on the whole improving, especially in
the Northwest. Trade in breadstuffs is
hindered by foreign uncertainties, which
keeps alive hopes of war and higher prices
In the sugar trade Philadelphia house
offers 10 undersell the trust, and at Boston
there is "A rumor of a split, while from San
Francisco comes news of organized opposi-
tion by Spreckles and others
The dry goods market continues fairly
active for cottons, though print cloths are
a shade easier. In the jobbing trade grow
ing activity is noticed But in woOlens the
prospect of improvement is disturbed by
renewal of the'large auction seles, and a
peremytory sale of silks is also announced.
The business failures occurring throughout
the country during the last week number
for the United STATES, 237, and for Canada
80, total of go, against 273 last week.