The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-11-17
LEGITIMATE TRADE GOOD
THE SPECULATIVE TENDENCY
DISTINCTLY DEPRESSED.

Stock Buyers Beginning to Take Into
Consideration Our Disputes With
Englend-Large Branches of Indus
try in a State OF Uncertainty-Wcol
Not in Big Demand at the Ad
vance.
NEW YORK, Nov 16-R. G. Dun e. Co.'S
review of trade for the week says:
The revival of trade resulting from the
removal of political uncertainty, has made
some progress during the past week,
though not in the extent or direction quite
according to anticIpations The specula-
tive tendency has been distinctly depressed
by singular combination of influences
The volume of legitimate trade continues
large, but in important branches the trans
actions in anticipation of an Improvement
in prices we're SO large prior to the election
that comparative dullness has followed
SPECULATIVE MARKETS.
The war Of rates between the trunk lines
| is the chief cause of disturbance in sDeculat-
| i've circles, but there is also some foreign
realizing, and men are beginning TO
consider whether the disputes be-
tween this country and Great
| Britain may not disturb current invest
ments. The stock market has, therefore,
been heavy, though transactions have not
been .arge, aud declines have been stub
bornlv resisted. The average Of prices has
declined during the past week about 81 II
per share, with more signs of weakness at
London than here.
WHEAT SAT- UPON.
Wheat speculation has been sat upon
heavily by a stoppage of exports from the
Atlantic ports aud an enormous movement
from e Pacific coast. In the month of
October 3,265. $50 bushels of wheat were ex-
norted from the Pacific ports, and only
| 303,30O from all the principal Atlantic
ports, and during the last five weeks the
Atlantic shipments have been only 10000
bushels, against 3,3S2, 4yl last year Vet
speculative holders are stubborn, and the
price has declined only ! L, cents for tn e
week. with sales here of 100000 bushels.
CORN IN BETTER DEMAND.
Another depressing feature has been the
export of 100000 bushels of corn in five
weeks against 2,S00000 last year, pointing
to less foreign demand for wheat. With
assurances of larger supplies, corn is three
quarters cheaper, with speculation narrow,
and sales of only 4 200, 900 bushels for the
week
Oats are | cent dearer; cotton has risen
one-eighth, with sales of $40, 900 bales, and
coffee has risen one-quarter, with sales of
100000 bags, while oil, after a little ad-
vance, closes as last week The failure of
monetary abundance to stimulate further
speculation in products is significant
feature.
A FEELING OF UNCERTAINTY.
The larger branches of industry are all
in an uncertain position. The market for
cottonS is rather quiet. A break in fine
bleached goods and changes in favor of
buyers iii medium and colored goods, do
not affect the prices of other staples, and
print cloths, with light goods Of low grade,
are very firm. WOollens move sluggShly
in part because of the mild weather, but
without some advance III prica, which the
cheapness of foreign goods resists, enlarge
ment of production is scarcely to be ex-
pected.
WOODS ADVANCE.
Wool has nominally advanced about 4
cents on the average withil the past month,
but the sales at the prices asked do not seem
to be en- COuraglng
The boot and shoe trade continues de-
cidedly active and promising. 1t is esti-
mated that 100, 900 pairs are now pro-
duced and marketed annually.
Excessive production has weakened the
anthracite coal market. The interior de-
mand for bituminous has fallen off, and
Monogahela operators talk of reducing tho
output, but the coke output in western
Pennsylvania exceeds all past records.
IRON AND STEEL.
While the demand for iron and steel is
larger, the production appears at present to
have increased even moro rapidly, and the
market seems rather weaker. Buyer; of
| pig hesitate because, with many furnaces
about to blow in, and the weekly Droduc-
ton already reported at 14l 900 tons, in
| Guiding charcoal iron, close to the maxi
| mum, they hope for lower prices. Sales of
No. southern here at ST. 80 are reported.
Bar iron is also weaker i'll tone, being quoted
| at lS5, and it is stated that steel rails have
n inc af =,
and the Chicago quotation of $50 so is
| hardly equivalent to that figure, though
| some eastern sales at $2S are also quoted.
TRADE IN The INT ERROR.
Reports from interior points vary more
| than usual as to the activity of trade,
| though complaints Of dizziness at some
sout. ern points are attributed to the late
ness of the cotton crop. At the west the
movement is generally large, though not at
all points quite up TO expectations. Money
is not easy at Nashville is firm at Kansas
| City and in active demand at Memphis, but
| at nearly all points is in ample supply, and
| the treasury observes that the demand for
currency has fallen off. Scarcely any com
ulaint is made Of collections, and yet the
number Of failures mas been considerable in
! some quarters. and on the whole larger
than last year for the past six weeks
BANK CLEARINGS.
The bank clearingS outside of New York
continue large, as well as railroad earnings,
but the foreign trade does not improve. In
| October the exports of cotton, breadstuffs,
| provisions, oil and cattle amounted to S54-
i67, 502 against $57, 035 last year, de-
cline of 81 per cent, and for the past two
weeks at New York the decrease has been
per cent. while the decline on imports has
been per cent.
No important change in treasury opera
tions has occurred. The disbursements for
the week have exceeded the receipts by
only 100000.
The business failures occurring through
out the country during the last week mum
Der: For the United States POS and for
Canada 81, u total of 237; against 226 last
week.