The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-12-15
In THE WORLD OF MONEY.
DUN & cos. VIEWS ON THE PRES
ENT AND Fu URE.

Failure of the Panama Canal Scheme
the Most Noteworthy Event of the
Week-A Belief that the French Gov
ernment VIII Have to Avert the
Threatened Disaster.
New YORK, Dec. 14.-R. G. Dun & Co. q
weekly review says:
The most important event of the week in
the financial world, the ia lure of the Pa
mama Canal, has not yet been felt in this
country. The amount of securities held
here is not large and there is general be-
lief that tie French government will be
obliged to do something to avert wide
spread disas.er. But it can do nothing to
make of permanent value the vast amount
of securities issued heavy French loses
will in time have some effect on mo iey
markets elsewhere. In other respects the
financial outlook remains unc anged. Con-
| siderable expo is of gold continue, but
cause neither disturbance nor alarm Tbe
supply of money il all parts of the coun ry
Is 50 larg and heavy a the disburssm nts
of January ara so near at ha d that there
is an unusual feeling of confidence.
BUSINESS IMPROVING.
Business continues to improve in nearly
all sections, and though it does not meet
the expectations of the most sangui TO- there
is every indication that it is greater in
volume than that of year ago. The bank
clearings for the first week of December.
though they reflect to a noteworthy extent
the ira 1sactions of a month ago, on which
payments are now maturing, exceed those
Of last year by 1S per cent, which implies
large volume of present as well as of past
! business. The gains outside of New York
Iar ay.lya hltz ri ~
including even the southern sections in
which there has been most de ,ression Re-
ports from Mem Jhis still indicate that coli
lections are hard to make and business
shows no improvement, the cotton returns
for Arkansas d Mississippi being unfivor-
able. Throughout the northwest improve
ment is felt, except at a few p ints where
wild speculation over trading last year
did the most mischief.
THE IRON OUTPUT.
The iron output Dec. illustra es the pre-
valing confidence, and. at the same time,
the danger of over confidence. The fu naces
in blast were of a capacity of 1898
tons weekly, according to the New York
| report. and 139, ,2S2, acco 'di e to Pittsburg.
Taxi 9 the former as the maximum and
the latter as minimum, in either case the
increase in November was alb u 5000 ons,
and the production is either a little larger
or little smaller than the largest ever
attained, about Nov. l, 1887. The tone
of the ma ket is naturally weaker, though
| the prices Vt nig are uncha gad. B lr-.
regular and ssthe Generalization in manu-
| factured steel is striking. while in rails late
cjntrac S are said 10 have been at $27 %
with eastern and $265O with Pittsburg
mills. Ia other branches Of industry no
change of IMPORTANCE occurs Ths volume
of production is on the whole increasing,
aud The state of the markets appears to JUS
tify some anxiousness.
COTTON STEADY.
Cotton has been stea v. Memphis now
estimates the yisld at $4,000. and the ex-
ports last mo til were 10,S00,0 ,000 pounds
larger than for 1887. Tbs comparative in
activity Of the speculative market helps
legitimate trade to adjust prices o new con-
drions. Tue general average for all COM
| modities is about l per cent. lower than
week ago ard slightly below the level of
| Nov. |.
| l the stock market there has been no
hesitation, without pronounced movement
either way, while the average of prees IL
80 cents on tue share better than a week
| ago.
| The business failures throughout the
country duri & last week number for the
| U ieI States 26S, AMI for Ca ada 35, a
| total of 303, against 305 last week.