The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-12-29
END OF THE TRADE YEAR
A GENERAL FEELING OF CONFI-
DENCE NOTICEABLE.

Their Weekly Reviews ~ The Rise
and Fall in the Values of Stocks and
Commodities-How the Interior Re-
ports Look.
NEW YORK, Dec 2S.--R. G.. Dun a. Co.'s
review of trade for the week says: "In
closing the year 1888 the fact may with pro-
priety be noted that the course of the
markets and of prices has been fore
shadowed in this review with much correct
ness. For stocks it was June 10 that the
lowest prices of the summer were made, aud
on that day this review said: There are
some signs of recovery The ri g from that
point to Sept 20 averaged 81 AZ per share.
The highest prices of the year were made
Sept, 80, and on that day the review said:
Much realizing by foreign holders is re-
ported and trade has been checked by
artificial prices
"For comm dities, the highest average of
prices during the year was made Marcl 81,
and on the same day the review noticed;
"A disposition of customers to act with
great conservatism, buying only as they are
compelled to buy, and this appears in many
leading branches of trade. 1t is in Ear
the fruit of AN exp citation that prices may
so low er, and in part due to perception
that the demand for commodities has
The average d cline from that point to
June 80, was about IL per cent
THE RISE.
son the latter day. when prices were the
lowest of the entire year, the review said:
The general average of prices of commodi
ties is but a small fraction lower than a
week ago, and if crop prospects should
prove less favorable, some advance might
at any time begin. 1t actually began that
day, but spectators, who looked for an
enormous rise in consequence OF the expan-
sion of the currency, have been constantly
warned that the conditions for a general
and prolonged advance did not exist, and in
tact the highest point reached 81 ice June
gave an average advance of only 6M per
cent. from the lowest. While it is not any
part of tae object of this review to guide or
foreshadow speculation, 1t is recognized
that an understanding of the forces which
govern the more important speculative
markets is at all times of service to men
engaged in legitimate busine S.
TRADE DURING THE PAST WEEK.
"Trade during the past week has been
undisturbed by the monetary pressure ften
expert near the end of the year, and
has, on the whole, improved. The long
lNlCoAdh '"Ca btSaA III nDEOulublOu Cdtllc
with fall of o ceats on Wednes lay at
Chicago, but there has been some slight re-
covery. The sales have here been but l6, ,000,-
900 bushels for the week, aud it is still unce
tin whe her prices have declined enough
to permit the marketing of the large sur
plus this couut y has on hand. Il lor-
nous crops in Russia and the Danubian
states, with lower freights, keep European
prices low, and there is instant unloading
hu fhrCtIcrhput x,h,
ought heavily when the crop scar pre-
vailed Corn closed / X cents lower; oats
one-half cent lower; pork 25 cents per 100
pounds lower Cotton was steady, with
ales for the week of $4,000 bales Coffee
was unchanged, with 204, 900 bagS sold. A
break in oil dropped the price III cents
and refined also declined 10 cents per 100
gallons.
WHAT THE DECLINE PROVES.
"The general yielding in the speculative
markets Is but tardy recognition of the
fact that, while speculation was stimulated
by cure cy expansion, prices became
essentially artificial, and the connection of
the markets with the laws of supply and
demand was broken. No monetary pressure
now forces liquidation; throughout the
country the money markets are amply
supplied, though slight closeness is note
at st. Paul and the frequency of fail
ures causes some uneasiness at Memphis
The treasury is putting out more money
than it takes in--$l 30, 900 during the past
week-and the outgo OF gold has ceased for
the present.
Merchandise exports improve from New
Yors for Decem or, excee liug last years
by per cent, whicA l. dicates remarka-
bly, large movement when wheat shipments
are still so nearly prohibited. The excess
of the exports and imports for November
was even larger than the prelimina y state
ments foreshadowed, reac ing $22 ,394
for merchandise, AMI S3,4l5, ,4l5 for gold.
TRADE.Iy THE INTERIOR.
"Trade accounts from the interior are
generally satisfactory, though no Improve
meiit is seen at Memph sand the iron, steel
and coal trades at Plttsburg are dull. At
Philadelphia the iron trade is perplexed and
uncertain, and it is believed that conces-
sions on prices have been made, but more
active bidding is noticed. Steel bloom,
are unsettled and low, but rails and manu-
n :tured iron look better. Copper ald tin
are unchanged. Tie syndicate has been
obi ed to increase its holding OF copper by
several thou and tons and the stock Is now
supposed 10 be 10000 tons Ia Europe aud
10000 here, held ot $45 ,000, 900 or more
"The repo Is Of railroad ,rafIic show that
very large business is in progress. ..Indeed.
the ea,t-bound shii ments last week ere
III, 900 tons. the largest ever reported,
against 81, 100 tons for tie corresponding
week last year.
COURSE OF STOCKS.
"The course Of stocks during the past week
has been decidedly favorable to holders, es
pecially in a few Of the more active shares,
a d the general average Of prices is out
81 per share higher t1an at the opening of
the year. The prices Of commodities, on
the other hand, still tend DOWN. rd, hav-
ing declined about ! 1S Der cent in Deem
Der and about 81 per cent since ia . |.
'Tbe year closes with general confidence
--rlther greater. indeed, than the present
state Of prices and rate Of consumption in
some of tue most important industries APP
pear TO warrant But the marvellous
growth of the country continues. and en-
sures an increasing demand tor products at
no distant day.
'Tbe business failures occurring through.
out the cou try during last week number
for the United States 276 and for Canada
%, a total of 300, against 3i1 last week.
furniture Dealers Fail