The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-03-31
BUSINESS MEN CONFIDENT
THE USUAL MONETARY PRESSURE
FAILS TO APPEAR.

European Gold Still Flowing this Way
to be Invested in Securities-The
Prevailing Dizziness in Great Meas
ure Attributable to the Unprece-
dented Storms.
NEW York, March 30.-R. G. Dun &
Co.'S review of trade for the week says:
Dizziness is the feature in business,
but dizziness with a hopeful feel
ing in almost every quarter. TIE
monetary pressure which has almost
invariably commenced about this time
does not appear, and the dangers which
were by experienced bankers apprehended
seem to have vanished. There is Just now
so little anxiety about the money market
That little is said of the delay Of the bond
purchase bill by amendments in the Senate,
which may poss bly, defeat it.
EUROPE BUYING SECURITIES.
The possibility of gold exports does not
seem Vislbly nearer than it seemed weeks
ago, and considerable purchases of securi-
Ties ON foreign account are reported. Money
on call at New York has ruled at to 21@
per cent, and foreign.e xchange has declined
from 81 SO to "a S7l4. More pacific adj
vices from Europe render the outlook more
"N''oAoSbpI1 y, DuI bHt prevailing uullneSS Is
everywhere felt. Many attribute it to the
recent storms and unfavorable wealth or,
which doubtless affected some trades ma
terially.
LABOR's PART.
Many feel the influence of the existing or
recent STRIKES The railroad difficulty at
the West does not abate but the feature
most widely observed is the disposition of
customers to act with great conserva-
tlsm, buying only as they are
compelled to buy, and this appears in many
OF the leading branches of trade. 1t is in
part fruit of the expectation that prices
may go lower, and in part due to a percep-
ton hat the demand for consumption has
slackened. and may diminish still more
EFFECTS OF THE FAILURES.
The failures Of banks or bankers in North
Carolina, Mobile and Newburg has caused
no disturbance, though it is recog-
nlzed that many weak spots must
always be found after a period of
extraordinary speculative activity,
yet ON the aggregate, the failures are not
more numerous nor more important than
those of last or the previous year, which
clearly indicates greater soundness in legiti-
mate commerce, since the number of fail
ures of speculative origin has increased
Prices are maintained with remarkable
steadiness.
HARD PAN REACHED.
For many years it has not happened that
the general level of prices has changed as
little as it has during the first quarter of
1883. Hard pan seems to have been
reached in the iron business, in the
Judgment of one of the most
successful concerns, for the Thomas COM
pany at last announces $40 as its contract
price for the year for the best anthracite
The rates for lake ore are not yet announced,
but are expected to be about So 25 for No
l BeSsemer.
COLLAPSE OF THE COKE POOL
The complete collapse of the coke pool,
with reduction of the price to 81 10 at the
ovens and the lowering of rail rates. give
producers better chance in Western Penn
sylvania, but rail rates are also reduced
from Alabama, and it is calculated that the
price at the furnace for the best mill iron
averages Sl2 IS at Birmingham Bar iron
is unsettled and sales of the best refined at
81 50 are reported with no Eastern sales of
nails. AT Western mills 1913 50 is quoted.
THE DRY GOODS TRADE.
The dry goods trade reports fairly salts
factory sales, and the Arlington auction
realized fair prices for cottons but it is re-
ported losses to makers on woolens
The jobbing trade is irregular, but storms
and unreasonable weather, with difficulties
both as to deliveries and collections in the
Western districts, affected by the railroad
strikes, are named as the causes.
Tee drug trade is in unfavorable shape.
purchases being reduced as far as possible
and similar features appear in the markets
for sugar and many other products which
may be affected by change of duties.
The wool market, however, though dull
is steady for the better grades, while other
qualities sell moderately at concessions.
A GENERAL FEELING OF CONFIDENCE.
Reports from vari us pa IS of the coun-
try show a general feeling of confidence.
though lack of present activity is commonly
noticed. with some cloSenesS in the money
market and t9rdiness in collections in the
Northwest. I he rates for money are about
per cent. at Boston, PHILADELPHIA, Gin
cinnaG and Chicago--at the latter
strong-and the only point of unfavorable
augury, as to the money market, is that do
nestle exports from New York for March
are % per cent. below last years, while the
imports increased little.
The business failures occurring through
out the country during the week number
for the United States 179 and for Canada
AZ, total of 221, against 243 last week.
The Dog Under the Wagon.