The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-04-14
TRADE STILL SLUGGISH
THE BOOM INCIDENT TO SPRING
NOT YET UNDER WAY.

! governmental Report of Injury to
| Wheat Sends Up the Price-Some
Cutting in the Dry Goods Trade to
Secure Transactions The Stock
Market Unchanged
NEW YORK, April 13.-R. G. Dun g. Co.'S
Review of Trade for the week says:
If dullness in trade were always a bad
sign, the present outlook could not be called
hopeful. At only one or two interior points
is the actual business transacted satisfactory
in volume; nearly all report comparative
inactivity at present, with hopeful anticipa-
tions, though at several points considerable
slackening of trade is now noticed. Money
has become tight at some Western
and Southern points, complaints
OF poor collections being much
more frequent. The clearing house
returns for the first week in April, which
included large deferred payments as well as
quarterly settlements, showed a gain of s
per cent. over last year, outside of New
York, but the current transactions do not
increase to that extent. if at all. Inac-
tivity has caused yielding in general prices,
Notwithstanding slight advance in some
speculative markets.
wHEAT'S JUMP.
The government repoet showing injury to
wheat, was the occasion of a sharp advance
in breadstuffs, and wheat is still &c higher.
though it has lost part of the gain, and corn
gains also, but oats closed no higher than a
week ago The Chicago "corner" in pork
bled some short sellers, but prices quickly
reacted
Corn is a shade stronger, for though the
crop already in sight exceeds the entire
crop of last year, and the falsity of the
short crop estimates is proved, the receipts
are now falling off. The exports last month
were l54, 100000 bushels, against 232, ,000, 600
in March, 1887.
Oil has risen 316c aud the exports last
month were 47000.000 gallons against
$4,000, 900 last year.
Sugar has also gained fraction, but cof-
fee is uncertain and by some shaded to
secure trade Teas are slow and hesitating.
Butter is weak, eggs lower and beef does
not improve.
IN THE DRY GOODS TRADE.
In the dry goods trade there is only mod
crate business with some cutting to secure
transactions Print cloths have declined to
312c. and the tone seems weaker for cotton
goods generally, except for the most favored
makes. In woolens no change appears, and
the weakening wool market distinctly re-
fleets the disposition of manufacturers TO
confine their purchases to their present
needs.
The boot and shoe trade continues more
active and cheerful than most others, and
the demand is good, but the prices realized
are slightly lower. Leather is quiet, with
fair volume of trade, and heavy sales Of Sc
lected South American hides at 16@16Hc.
are reported.
IRON FURNACES.
The report of the iron furnaces in blast
April | indicates slight increase since
March !, the capacity of the few large fur
naces which have resumed exceeding that
OF the more numerous furnaces, which have
ceased production, but it is reported that
a further decline this month is to be ex-
pected. The demand is so far satisfactory,
that the Thomas Company report the sales
as large as last years 20 date, and other con-
Germs report fairly liberal sales, but the
Offering of southern iron at $40 to $50 for
No. !, and S16 10 $16 81 for No. 3, still dis
turbs trade. Sales of 10000 tons of steel
rails at the East, and 10000 at the West are
reported at unchanged prices; but bar iron
Is low and irregular on account of Western
offerings. Wire rods and wrought iron
pipe are lower and rails are slow, the West
ern association having virtually reduced
the rates for all below twenty penny.
STOCKS UNCHANGED.
The stock market after some rise and re-
action, stands precisely where it did week
ago. Large foreign purchases of bonds are
constantly coming out, and there are
signs that foreign buying exceeds the SELL
ing of stocks, but the ending of the strike
does not restore harmony among the West
ern roads The Eastern trunk lines have
met without action, or complaint that ex-
port rates worked unfairly, and suits are
commenced for unjust discrimination in
Eastern dressed beef rates, and based on an
allowance TO the Grand Trunk
The Treasury has decidedly helped the
money market the past week, paying out
81 100000 more than it has taken in, and
foreign exchange is unaltered. But the ex-
ports for the last month evidently were
much behind last years, the loss being 20
per cent at New York, and So. .270, 900 in
the values for oil, and cotton from all the
principal ports, while the imports at New
York were but 5 per cent lower last month
than for the same month last year. and for
the first week of April show heavy in
crease.
The business failures occurring through
out the country during last week, number
for the United States 200, and for Canada
% "a total Of y2D aQainct o27 ast vyaak