The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-04-21
(PRICE SO A YEAR. I
bCENTS A COPY. (
PRICES MOVE Up A PEG.
BOTH STOCKS AND BREADSTUFFS
ON THE RISE.

Speculation still Brisk Among Those
who Fail TO Find Good Cause for
Dua's Inclination to Depress Matters
Government Willingness to Buy
Bonds Already Felt.
NEW YORK, April 20.-R. G.. Dun & Co.'S
review Of trade for the week says:
There are higher prices in speculation,
but the business outlook is distinctly less
favorable. Stocks are stronger and bread
stuffs are rising with oil and provisions,
but purchases for consumption are so re-
stricted that almost every important
branch of manufacture feels the check, and
the volume of business recorded
IN bank clearings outside of
New York is smaller by 6
per cent. than at the same time last year,
with decline Of over 21S per cent at New
York. The prices OF manufactured pro-
ducts and chief materials tend downward,
SO that in spite of the natural advance in
speculative prices since Jan. l, and in vege-
tables, the average of all prices is a shade
lower than at the opening of the year.
PROVISIONS HIGHER.
Reports Of inquiry to wheat more fire.
quent and better sustained than the reports
customary at this season, evidence that the
backward spring has limited sowing, and
the belief that the death of the German
Emperor will lead TO war all influence the
breadstuffs market to higher prices Wheat
has risen axe, corn DC, pork Soc, lard
and oil u. Crushed sugar has been ad-
vanced &c. But while the belief in short
crops is not the basis for increasing conf
| dence in the future OF business, weaker
prices for wool, specially for the grades
most largely consumed, indicate no i'm
provement in manufactures.
COTTON WEAK IN TONE.
| Cotton is weak in tone, though unchanged
in price, with print cloths selling at only
| 319c.
Leather is not stronger, and a break In
| the prices of boots. with dragging trade
and especial dullness in women's shoes, in
dicates that this branch of manufacture so
long more hopeful than almost any other,
at last feels the shrinkage in con umption
The iron trade does not change mate
rally, though Southern No. l is sold at
$40 30 for early delivery, No. 8 at SIG, and
bar iron is weaker at 81 so to 81 IS.
STEEL RAILS CHEAPER.
The sales of steel rails for this year have
been 65s, ,5l3 tons against 1,494 ,Ss4 at the
same date last year, and weaker pric at
the West are reported, though not here.
Another of the l. rgest trades is affected by
the weakness in meats.
Coffee is a shade lower, because of
shrinkage in the demand. Brazil
estimates make decrease of consumption
of N 900 tons in Europe and 5000 in this
country.
The tea market is unsatisfactory, but the
market for dairy products is in better shape.
Reports from interior points, with scarcely
an exception, represent the money market
as fairly fully supplied.
COLLECTIONS A LITTLE TARpY.
There is more or less complaint of tardy
collections. AT about half the cities re-
porting better volume of trade is observed
incident to the Improvement in the weather.
| and heavy rail shipments eastward are
clearing away the accumulations during the
strikes, but the shrinkage in exchanges at
| Boston, Providence, Philadelphia, Balti-
more, Cincinnati, Louisville. Milwaukee,
Kansas City, St Paul, Minneapolis and
Omaha are not balanced by the moderate
gains where speculation has been heavy as
| at Chicago, St Louis and Pittsburg.
The sales of wheat have reached 90 000,-
900 bushels for the week; of corn 13. sos, 900
bushels; of oil, 1890. 900 barrels; of cotton,
266,00O bales, and Of coffee, 259 200 bags,
but the aggregate of exchanges at New
York has been only $685., 900, 900 for the
past six days.
STOCKS STRONG.
The stock market has been strong and has
advanced an average of nearly 81 per
share with the governments offer
to buy bonds The uncertain
outlook in Europe and the great success of
the British refuudipg are the most promi-
nent factors. IL may be said that the sue
cess of the Treasury in getting bonds at
reasonable figures is at least as uncertain as
it was last year, and that war in Europe
would be apt TO cause the selling of many
American securities held abroad Nor is Il
helpful thing for transporting interests
If crops this year are really to be short, as
the speculation in breadstuffs indicate.
FOOD FOR sPEcULATIoN's FIRES.
But the abundance of currency, with the
shrinking industrial demand, feeds the fires
Of all speculation. The Treasury, after
avoiding accumulation for some weeks has
taken about So, 400 900 from the market
during the past week, but foreign exchange,
though half cent higher, indicates no ap-
proach of foreign demand. A decline of %
per cent. in the March exports of the prin-
cipal products and the fact that bread
as ballast toge her with the continued in
crease in imports-6 per cent over last year
for April thus far-snow that foreign in
vestments of capital here cannot yet have
ceased
The business failures occurring through
out the country during the last week num-
ber for the United States III, aud for Cana
da 49, a total of 1876 against 222 last week