The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-11-24
TRADE ON THE UP GRADE
FAIR PROGRESS MADE DURING THE
WEEK 1T MOST POINTS.

The Damage to Cotton by the Rains
Causing Hesitation in Some Parts OF
the south-Foreien Holders Less
Eager for American Securities-1he
Weeks Failures.
NEW YORK, Nov. 23.-R. G. Dun & Co.'S
review OF trade for the week SAYS: Bust
ness has made fair progress during the past
week. and at most points the prospect for
further Improvement is considered good.
| But the damage to the cotton crop by wet
weather has caused hesitation in parts OF
the south, while the outward movement of
| gold at New York is not encouraging spec
ulation. Notwithstanding the enormous
supply of currency in circulation, the east
ern reserves are net so large that the gold
exports may not produce some embarrass-
ment if continued. Bankers look for
continuance of the outgo unless the condi-
lions change materially.
THE CAUSE.
! The immediate cause is not the state of
| the merchandise trade, FOR of late the ex-
| ports have exceeded the imports in spite of
| the stOpnaRe of wheat shipments, but the
| sales OF securities Oh foreign account, which
| for some time have exceeded Ia. purchases.
! \ charge in the temper of inve.tOrs might
| result from settlement o, the rate wars,
| but at present fureig ers do hot seem to
regard American railways with the conf
dence formerly shown, iii part because of
thar damaging competition, and in part
because the effects Of the interstate act are
thought serious.
STOCKS A DOLLAR LOWER.
Under continued sales, the stock market
has declined on an average about 81 per
share 7 ne exports of breadstuffs from
Atlantic ports have been Only l30,312
bushels uf wheat i'll three weeks, against
$780, bushels last year, and 40S, 4S7 bar
rels of -four against 675, 69S last year, with
an increase of $50, 900 bushels Of corn. The
cotton movement is large but still much
behind last years.
The removal of duties in Portugal caused
small shipments of wheat thither, but from
other markets the current price still ex-
cludes A lantic wheat, Tough the decline
mere has been 4 a cents for the week, with
sales OF 80 900, 900 bushels
Cora and oats have scarcely changed.
Pork and hogs are IA shade lower, with
lard stronger.
NO CHANGE IN COTTON.
No change appears in cotton. An esti-
mate that the yield is 100000 bales doe,
not accord with the accounts of injury in
several southern states.
Coffee has advanced . cent, with sales of
463 600 bags.
Oil is practically unchanged, with refined
a shade lower.
From parts of the south less encouraging
reports are coming. The wet
weather has injured much CO..
ton and caused some anxiety. At
Memphis trade does not Improve and deal
ers are more anxious about collections than
about sales The extent of the injury is
not accurately estimated but heavy in
in bO11f
the south render that section naturally more
sensitive when a setback is threatened.
ANTHRACITE COAL DULL.
The anthracite trade at New York is dull
and weak, with the de1iand slackening,
and at Pittsburg the suspension of the
Monongahela Mining Company Dec. l is
attributed to distinctions on the rivers.
The coke trade is active, with more ovens
building.
The Carnegie and Cambria companies,
with the Pennsylvania company, have
taken orders for A., 000 tons Of steel rails at
500, and other EASTERN mills have refused
S27 so, the deliveries for the year to Nov. l
being 1,020, 119 tons. Bar iron is irregular
in price, with southern sales of pig at the
east, and is checked by the uawillingness of
raj road TO guarantee tne present rates for
| the future.
DRY GOODS INACTIVE.
In the dry goods business there is compare
tive Inactivity but n large auction of woolens
which realized low price, brought together
| many BUYERS. Great activity and an advance
| of about 2 cents in wool encourages hope
inst the trade in goods will improve. Some
| Improvement Is already seen in ho'iery and
in some light weight goods. Cottons are
| generally steady, With some di>counting on
wide sne5tings. Print cloths are unchanged.
| The boot aud shoe trade improves, with
| leather irregular.
In sill manufactures it is reported that
| the years production equals SIS, 900 900 in
value, about half of the entire consump-
ton.
TREASURY DISBURSEMENTS.
The treasury has paid out only s200,000
more than it has taken in during the week,
and the iAterior demand for money has
slaclIeued. Bank cleariags show slightly
! smaller volume of bust hess outside of New
! York than that Of last year, with d cline
| OF IA pee ce t. here, and about per cent.
at Philadelphia, Chicago, Baltimore and
| Cincinnati.
The exports for the three weeks of this
month fall per cent. below last years at
| Now York, and the imports per emit. be-
| low which points to a considerable excess
| of exports over imports for tine month
| But if foreign realizing OIL American IN
! vestments continues, the state of the mer-
chandise trade will not prevent some outgo
| of specie.
| The bupness failures occurring through
! out TIE country during the last week num-
Der for the Uaited States 260, and for
Canada So, total of 1896, against 237 last
week.