The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-06-09
TRADE BOUND TO BOOM.
NOT A CLOUD TO BE SEEN ON THE
COMMERCIAL HORIZON.


Better Feeling in Business Circles
Everywhere, and Actual Improve
mont in Sales-Crop Prospects Much
More Roseate Than a Month Ago
Money in Abundance All Over the
Country.
New Y DIRK, June S--R. G. Dun s. Co.'S
review of trade for the week is as follows:
There is a better feeling in business circles
and in some quarters actual Improvement
in sales, though on the whole transactions do
not equal those Of year ago. The
better feeling is duo in part
to more seasonable weather
and in part also to the growing impression
that no disturbing changes in the tariff are
likely to be made this year, but more large
ly to decided improvement in the crop
prospects. The outlook as to cereals i'm
proves steadily, SO that there is now
reasonable prospect of a large yield of a II
grain except wheat, and for n yield of
wheat exceeding 2O,O00,O00 bushels more
than the estimates of month ago, provided
the weather continues fairly favorable.
CoTToN's ACREAGE.
The annual report as to the acreage and
condition of cotton by the Financial
Chronicle indicates an increase of per
cent III acreage, with the condition on the
whole rather more favorable than year
ago. The Atlantic states and Texas appear
rather less promising, but in Mississippi all
accounts agree that the prospect is better
than at this time last year. Another en-
courag1ng feature is the increase in the out
put Of pig iron, which is not large, but any
Increase whatever with the low prices ow
prevailing is significant. Partinl reports
show gain of 1888 tons in the weekly out
put since May |, due mainly to tho opening
of three large furnaces i'll Alabama. With
this gain the output is still 81 900 tons
smaller than Nov. l, but no advance in
prices has occurred, and a weekly produc-
ton Of 1900 tons, with only $lS obta n
able for No. | foundry, would have been
considered impossible in any previous year.
STEEL RAILS.
The ma rket for steel rails shows no
change, and while the sales of bar iron are
little larger prices do not strengthen
For other than the best grades of pig iron
the market seems on the whole weaker and
reports are current that production will
soon be suspended at a number of furnaces
The copper market is unchanged, though
an extensive caving lessons the out put Of
the Anaconda mine.
Tin is weaker, with accounts of det erior-
atiug quality in banca and lead has been
decidedly weak
The grain market has declined wheat
cent, corn 215cents, and oats Is cent, while
lard is Il cent higher, and pork unchanged
The improved crop prospects, both in the
Missippi valley and Pacific states, at pres
ent outweigh the moderate increase In the
purchases of wheat for import.
Corn and sugar are unchanged, and coffee
has yielded d cent.
Dairy products have recovered from the
depression of last week, but oil has declined
4 cents
WOOL LOWER.
The views Of holders and bidders are so
far apart as to new wool that prices are
hardly settled, but such quotations as ap-
pear indicate lower average.
The general range of prices Of commodi-
ties is about half of | per cent. lower than
a week ago.
In the stock market a small recovery in
prices has occurred, but dullness prevails
Good reports OF earnings are balanced by
increasing rivalry between lake and rail
routes, and between the Western trunk
lines.
The quick absorption of large amounts OF
bonds recently offered, prevents any ad-
vance in foreign exchange and puts
aside apprehensions of specie exports
but the merchandise movement indicates
heavy balance payable abroad, either by
specie or securities.
The exports for May from New York ex-
ceed by about 215 per cent. those of the same
month last year. while the imports fall
short two per cent, but similar changes
elsewhere would leave an excess of imports
over exports Of about $13, 100000 for the
month.
The treasury has taken in 81 SOC, 900 more
cash than it mas paid out, getting scarcely
any bonds, but the local market is glutted
with money.
Interior reports, with scarcely an excep-
tion, show money abundant and business
quiet or moderate, with collections not
entirely satisfactory. Yet, on the whole
the reports disclose more hopeful tone.
with better weather and better crop pros
pects
The business failures occurring through |
out the country during the last week num-
Der for the United States 207 and for
Canada %, total of 235, against 205 last |
week. The business casualties on the Pac flc
coast are exceptionally numerous still, there |
being no less than 43 failures reported there
during the week, which is far above the
average.