The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-01-07
PRICES A LITTLE LOWER.
THE SHOWING FOR THE WEEK
NOT A BAD ONE, HOWEVER.

Bar Iron Weaker and the Prospects
for Rail Manufacturing Not Much
Improved Dividends Fail to Ad-
vance the Prices of Stocks-The
Money Markets Easier.
NEW YoRK, Jan. 6.-R G. Dun g. Co.'S
review of trade for the week says:
The past broken week has not been one Of
great activity, and the year opens with
some reaction in most of the markets. The
Reading strike has become more serious
than was expected. The miners committee
claimtsthat 10000 miners and $4,000 rail
road men are out, ard though tho state
ment is plainly exaggerated as to the rail
way hands, the suspension of
mining appears to be nearly COM
plete in the Reading as in the
Lehigh region. In spite of December's
large output, stocks at tide water are low,
and the stoppage of supplies of coal threat
ems to close some manufacturing works.
The iron market is already distinctly sitter
because of the possible closing of furnaces,
and the Thomas Company has not yet an
nounced its prices. Sales of 5000 tons of
Southern iron are reported, with some
weakness in bar iron and little improve
ment in the prospects for rail manufacture.
SPECULATIVE MARKETS.
All the speculative markets have expert
enced some reaction, except for TIN, which
is firm at 15c. advance and lead,
which is quoted slightly lower The bad
break in copper stocks abroad with quick
reaction was followed by a heavy failure
and panic at Paris
Oil mounted to % on Wednesday, broke
suddenly to 921S, and has since risen again.
Pork and lard have declined little and
cotton lie.
Coffee is demoralized and shows a loss of
nearly 1c.
Breadstuffs have been weaker
Stocks have not advanced as those hoped
who supposed that S7O, 100000 distributed in
dividends and interest Jan. ! would lift
prices. An increased demand for good
bonds appears, but the share market has
been weakened by Western wars of rates,
which spread and grow more bitter, and by
the strike of the coal miners.
FEWER FAILURES
The first week of the year opens with
fewer failures than were anticipated, and
with fair business for the season at all points
reporting. The money markets are gener-
ally easier and complaint of collections is
less frequent The dividends declared by
banks and other financial institutions were
generally up to expectations, Dut much OF
the money appears to have been anticipated
in previous investments.
Wooden manufacture seems uncertain.
Raw material has declined about lc. in De
cemL or and &c. to SC, since July, though
coarse wool yields the least and the largest
decline has been in fine fleece. The esti-
mates of the clip vary widely. Common
manufacture is exceptionally prosperous,
and fancy prints have advanced to SIC
Some makes of brown and bleached goods
have advanced, and print cloths have risen
to 3Slc.
EXPORTS AND IMPORTS.
The foreign trade continues large. The
exports show only g. per cent. decline for
five weeks at New York and the imports
only is per cent decline, in comparison
with the enormous business of last winter.
The Treasury has put out So, 3OO,0 900 in
gold, and S900000 in silver since last week,
and it increased the circulation Of all kinds
of money $4,000 900 in December, and
S62, 900 during the last half of 1880 But
for the miners strike and the threats of the
cotton spnners, who claim that higher
wages were promised when goods reached
present prices, the outlook would be more
favorable than for many weeks past.
The business failures occurring through
out the country during last week number
for the United States $50 and for Canada %,
a total of 279, against 1868 last week. The
figures for the first seven days of 1897 were:
United States 27l, Canada 2S; total 800.