The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-08-25
BUSINESS LOOKS BETTER.
IMPROVED CROP PROSPECTS ALL
ALONG THE LINE

A Set Back, of Course, Among tho
Possibilities - Business on Change
Much Better Than Year Ago-The
Prospects of the Texas Cotton Crop
"A Rush for Coal
New York, Aug. ar. G. Dun & Co. s
review of trade for the week says: Tho BEL
fer feeling grows in every direction. Crop
prospects improve, manufacturers are gain
ing confidence, and dealers no longer oper-
ating on a falling maj ket keenly appreciate
the difference. 1t would be premature to
assume that no setback will come, for in
several directions possibilities of an adverse
change are obvious. The movement in
foreign exchange may be significant, but
the present state of business is clearly
encouraging, larger in volume than year
AGO. and growing more confident in tone.
EXCELLENT CROP PROSPECTS.
Extensive crop reports within the past
week strengthen the belief that the corn
crop will be larger, the oat crop large, the
Weld of wheat not below recent estimates
and the yield of cotton better than the trade
has expected.
The injury to corn proves really serious
in some quarters, particularly in Southern
Kansas, but over the greater part of the
corn growing area the promise is remark
ably good, and the chances of serious injury
bv frost lessen with every week that passes
without harm.
Oats have been seriously damaged, also,
in some quarters, and yet the aggregate
Weld is likely to prove the largest On record.
COTTON IN TEXAS.
Texas reports ample rain and good rea-
-, Il L
from l 1900 900 to 100000 bales, against
1900 600 last year. From nearly all points
reporting an imrroved out ook for farm
nroducts is noticed as the reason for the re-
vival in trade.
The iron trade does not brighten as was
expected, though prices are a little stronger.
At Pittsburg about the entire output of
Bessemer ore has been sold at Clevela nd,
and in eastern markets the pressure to sell
southern irons has lessened. Yet Tennessee
No. is still offered at SIT so. Philadelphia
notes a lack of buoyancy. Bar iron COL
tinues irregular in price, and structural iron
dull, and the outlook in steel rails is consid-
cred gloomy quotations being $25 so to S29
at the east, with sales at the west bringing
only S3l %.
RUSH FOR COAL.
At Duluth the coal trade is phenomenally
active, and an advance in price is under
consideration.
For the first time in eight years leather
dealers are no longer selling on declining
market though steady prices with an active
demand indicate healthy absence of spec
ulation.
In the wool trade also better feeling is
seen, with larger sales at Boston and Phila-
delphia, and in some grades better prices
But manufacturers still move with much
cautlOuSneSS.
Reports from all parts of the country are
more favorable. Though dull or quiet
trade is still noticed at many points, i'm
prOvement is more frequently reported.
Money is firmer at many points, with an
increasing demand, but scarcely anywhere
is there complaint of closeness, and collec-
tions do not seem to be more backward
than is usual at this season.
SPECULATIVE MARKETS.
The speculative markets have been varia-
bic, wheat rising 81 cents, with sales of
S0000,0G bushels here, while oats have de-
clined cents, and corn has advanced
nearly IA cents, with sales of 100000
bushels.
The cotton corner has broken, and the
price is rs cents per 100 pounds lower, with
sales of 31S,000 bales, while coffee is ID
cent higher, with larger dealings. Sugar is
stronger, and oil has risen Al cents. The
rise in foreign exchange from 81 to 4.87N
is spoken of as due to temporary causes.
That is not clear. The exports do not inn
prove, and the balance is heavily against
this country The prices of exportable
products advance rapidly.
Sales Of securities on foreign account
have already contributed to reaction in
the stock market, and it is not impossible
that the Presidents me sage looking toward
retaliation may incline some foreigners to
withdraw capital or realize profits in the
impression that internal relations may be
disturbed. Any considerable return of
foreign capital placed here would tend
strongly TO change the outlook.
The treasury has been putting out money
more freely, holding s., 100, 900 less than a
week ago, and the bank reserves at New
York are still unusually large. At the
same time the reports of agreement on
Thursday between warning western roads,
and improving crop prospects, tend to help
the market for stocks. But the increase in
the number of failures continues; for the
four weeks past the record covers no in the
United States, against 603 last year.
The business failures during the last week
number for the United States 1877 and for
Canada %, a total of PA, against 2l9 last