The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-05-05
! PRICE $40 A XAR. I
bCENTS a COPY.
TRADE NOT In THE DUMPS
THE FEELING FOR THE FUTURE
DECIDEDLY HOPEFUL.

There is q Little Tinge OF Uncertainty
Which Begets Hesitation-The Prices
of Securities Advance While Those
OF Comm odities Decline The Fall
ures of the Week.
NEW York, May Ar. q. Dun 65 Co g
review of trade for the week says: It makes
all the difference whether the situation is
observed bv prophet or a photographer.
The streets are full of prophets who see sure
indications, favorable or unfavorable, and
the prevailing impression regarding the fu-
ture is decidedly hopeful; but the facts as
they stand disclose an uncertain
state of business. A slight improvement
in some branches, increasing depression in
others, but hesitation and waiting on all
sides. The net result has been little adj
vance in the prices of securities, with con-
siderable decline in the prices of commodi-
ties. At interior towns money is generally
in ample supply for the existing demand.
A furry at Boston carried the rate to per
cent. for day, but it has dropped back,
and the settlements at Chicago were unusu-
ally small for May L.
COMMERCE WITH EUROPE.
Foreign exchange is little higher, but
merchandise exports also improve, for the
five weeks, exceeding last year by 3l6 per
cent. As last years excess of imports for
April was over SIC, 900 900, the comparison
still indicates that exports of gold are only
prevented by foreign investments Of capital
here.
The reports of trade from interior points
are not enthusiastic. Inactivity or quiet
is the prevailing feature, with more fire.
quent complaints of slow collections. The
clearings Of the banks outside of New
York continue TO slightly exceed those Of
last year, but less than the difference in
prices, which implies the transfer of a
slightly smaller quantity of products, and
the increase In cearing9, moreover is due
TO two or three cities in which speculation Is
especially active; deducting Chicago alone,
the latest reports from all the other cities
outside of New York would show a de-
crease.
The failures in April exceeded those OF
last year by ninety in the United States
over 10 per cent-but were smaller than
last years in Canada
WHEAT'S LITTLE BOOM.
Speculation in wheat has been rather
active, the sales reaching "a 200, 900 bushels
here but the net advance in price was only
Nc, with the same in corn, while oats de-
clined nc. The reports of injury to wheat
have become more definite, but the tele-
graph brings news Of extensive rains a1
Denver, Omaha and Milwaukee, and in
California rain caused a sudden fall of &C.
per Genital.
Pork products, hogs and cotton are a
little higher, and oil has risen 11&c.
, Coffee and sugars are unchanged, holders
being confident.
Wool and hides are shade weaker, and
the collapse of the tin speculation caused a
fall from about SIC. TO about 20c. Weak
ening in copper naturally follows but it is
supposed that the syndicate has concentrate
ed It's efforts in order to control that mar
ket.
LOWER FREIGHTs.
Lower freights have been obtained by the
IIehigh iron producers, but all the benefit
goes to the consumers and No. pig iron is
now quoted at $3.50, with the expectation
that $40 will be reached at Philadelphia.
The market for bar iron, even
at 1.S cents is unsatisfactory;
plate, structural, and sheet iron
are all reported weaker, and steel rails are
quoted at $50 80. The Southern supply Of
iron increases, and it is yet undetermined
at what price in the Northern markets the
large furnaces can afford to sell.
Anthracite coal is strong, the production
having diminished
The dry goods business is more hopeful
The buying for the fall trade at this season
is regarded as encouraging, though the
movement is moderate and prices un-
changed.
THE GENERAL RESULT.
The general result of trading for the past
month has been decline of nearly per
cent in the prices of commodities as a
whole, notwithstanding the strength in the
grain and produce markets. Stocks rose
rapidly until MAY /, when the average of
prices was about az per share above last
weeks, and the reaction within the past
three days still leaves prices about 75c.
per share higher than week ago.
Large earnings and foreign buying, with
not surprising.
The business failures occurring through
out the country during the past week num-
ber, for the United States 209, and for Can
ada 25; n total of 234 as against 22S last
week.