The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-09-15
BRIGHT SKIES OF TRADE.
FURTPER IMPROVEMENTS NOTED
IN LEGITIMATE LINES.

Speculative Markets Troubled Over
the st. Paul Incident Wheat Cheap
ened by the Report of the Depart
ment Of Agriculture-The Volume of
Business Large and Increasing.
New YORK. Sept AR. G. Dun & Co. s
review of trade for the week says:
The week has been one OF further i'm
provement in business, notwithstanding
some disturbance in speculative markets.
The passing of a dividend by the st. Paul
caused a fall in stocks, and the government
crop report, fall in wheat; while the
export trade, though improving, continues
small. But the volume of legitimate bust
ness is large and increasing. and there is
Improvement in the productive industries.
The crop report was so much less gloomy
than other recent accounts that it caused a
fall of 3 4 cents in wheat and 81 in oats,
with corn Is cent lower Estimates based
upon the report differ as usual, but the
figures, whether correct or not, appear to
indicate total yield of 4l5,000,00 bushels
of wheat, which, with the large surplus of
5l,OQO,OOO bushels from previous years
would meet all requi ements.
FURNACES IN BLAST.
The monthly statement of tire furnaces in
blast shows an output of l25, $3.50 tons of
pig iron weekly, an increase of 6,577 tons
for the month, but the prices, nevertheless,
are well maintained, with stiffening at
Philadelphia and Pittsburg. Southern pro-
duction gains largely, and the demand for
bar and other manufactured iron improves:
but in steel rails there Is no change for the
better
The cotton statement also shows that the
consumption in manufacture has been per
cent. larger than for the previous year,
with considerable increase in spindles at
the south.
In wool manufacture there are no new
signs of improvement
Once more reports from interior points
are uniformly encouraging, both as to the
volume of business and as to the money
markets. The supply at all points is said to
be sufficient for legitimate trade, and col
lections are either fair or improving little.
REPORTS CONCERNING COTTON.
At New Orleans it is thought that the in
jury to cotton has been generally exag-
gerated.
At Kansas city recent rains are held to
have dispelled all fears as to the corn crop
of that region and Omaha reports very
good crop. A heavy frost at Nil waukee III
jured some crops, but the tenor of the local
advices for the past week is almost uni
ldNCTdDlt.
The volume of business, measured by
bank exchange, is larger than last year by
10per cent. outside of New York, though
smaller by Az per cent.
The passing of the dividend by the st.
Paul has not been unexpected, but it con
vinces the public that the losses of western
roads, because of the Interstate act, have
been far heavier than spectators have rep
resented or investors believed. In conse-
quence, considerable selling on foreign ac-
count Immediately appeared, which might
easily go far enough to prove serious
The export trade still falls far behind last
years.
BREADSTUFFS.
The preliminary statements for August
of breadstutfs, cotton, provisions, dairy
products and oil aggregate only S27, Az, 118.
against S35, 673, $50 last year. decline Of %
per cent For the two weeks of September
the New York exports show a decrease of
per cent, while the imports have increased
Is per cent. No financial disturb
ance occurs as yet, though the rate
of interest has been rapidly advanced
The treasury purchased over So, 600, 900
more bonds Thursday, and has paid out for
the week 81 200, 900 more than it has taken
in, but it is an unwelcome fact that the
failures for two weeks have been 3S4 in the
United States against 3l7 last year. The
business failures occurring throughout the
country during the last week number for
the United States 100, and for Canada p,
total of PIT against PA last week.