The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-09-01
BUSINESS FAR FROM BAD
CROP REPORTS CONFLICTING, BUT
THE OUTLOOK GOOD.

NO serious monetary SCrlngency he-
ported Anywhere Exports Still Too
Much Below the Imports to Be Salts
factory-The Average Price Of All
Commodities Moving Upward.
New YORK, Aug. 3L-R. G. Qua & Co.. .
review of trade for the week says:
within the past few days crop reports
have become exceedingly contradictory and
confusing. Dispatches by the score are
published asserting that frosts have cut
down the yield of spring wheat greatly,
especially in Dakota and Minnesota, and at
the same tine the government weather
bureau affirms that the weather has
been most favorable and that the reports
Of injury from frost are greatly exagger-
ated. Reports from France indicate that
the yield there will fall % per cent below
last year, a contrast with an official state-
ment that the decrease will not be per
cent. Such confusing accounts from all
quarters have helped very active specula-
ton, with sales OF 930J0,000 bushels here,
and net decline in price Of only = per
cent. for the week. These facts lead TO a
suspicion that gloomy reports are being
used to unload speculave burdens, and that
the actual outcome will not tall much
below previous estimates.
CORN A FRACTION LOWER.
"Corn is a fraction lower, with sales Of
10000 bushels, and oats are cents higher,
with some activity.
"In provisions the ire mas been active spec.
ulation, an advance and a reaction. Hogs
remain 10 cents higher. OH mas risen
cents. Leather and hides are one-halt cent
higher. Coffee has sold largely for specu-
lation--261, 600 bags at New York-but
nu nd IA ~ 81
Sugar is unchanged, with better demand
for refined.
the dry goods market has been active,
and even buoyant, with print CLOTHS stiff at
4 cents but some descriptions of brown
sheetings are weak, and the market for
woolens is irregular and uncertain.
SPECULATION IN COTTON.
Speculation has raised the price of cot
ton, with sales of 26l, 900 bales at New
York, in spite of favorable crop advices.
Tine average price Of all commodities
moves upward steadily, having advanced
about One-half of | per cent. for tue week,
and "a per cent since June 80
'lt Is hardly necessary to point out that
this speculative activity particularly in
exportable products, Is not a very healthy
sign. If crops are really poor, business
must suffer in consequence; and if prices
are merely inflated without reason, the in
evitable relaxation will do harm.
EXPORTS CONTINUE SMALL.
"The Immediate effect is that exports
continue small. From New York for the
past four weeks they have fallen 161% per
cent. below last years in value, though
prices are higher. The heavy excess of i'm
ports over the exports in July, and for the
six months ending with July, appears 20
have created large adverse balance, which
will require liberal exports of merchandise
or of specie sooner or later. But at present
foreign exchange is steady. and the belief
that the exports OF products will be as
large, IN spite of the high prices, still con-
trols the market.
Speculation in stocks has been moder-
ately active and strong, for the partial re-
actions have not come TO much, but the adj
vance in the more active stocks has now ex-
ceeded 80 per share on the average, and
still the market does not broaden, nor is the
public belpi it The sales by foreign
holders have not been large enough to
affect results materially, but a feeling Of
uncertainty Is noticeable.
ABSORPTION BY THE TREASURY.
1.-THE treasury has taken in IS, 900 900
more than it has paid out this week, but
the supplies OF money are abu dant here,
and there are no reports of serious pressure
any where. The reports from all parts of
the country continue encouraging, even
from the northwest, where speculative ac-
counts dwell upon the damage to crops.
The usual reports state that the crop pros
poets are generally excellent.
Texas reports as TO cotton continue
good; but considerable injury from rains is
reported at Memphis
"At all interior points business is active
for the season, and there Is unusual uni.
formity IN the report that orders for goods
are increasing At some points collections
are fnirly good, but much the greater num-
Der of reports note more than usual tardi-
ness for the season and complaints are gen.
eral
CROPS HELD BACK.
"The state of the specua i've markets tends
10 prevent farmers from sending forward
their products promptly and at the south
the resistance Of the producers TO the
reactions of the cotton baggIng trust keeps
back SOCKS. Yet there is a noticeable in
crease in confidence as to he future of busi-
ness in almost every quarter from which
reports are received, and banking returns
show a continued increase in exchanges, in
part, Of course, because Of greater specula-
tive activity
THE business failures occurring through
out the country during the last week num-
ber, for the United States POP and for Can
adaA, total Of 226 against PA last week"