The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-07-20
TRADE IN THE DOG DAYS.
THE GENERAL AVERAGE GOOD
FOR THE SEASON

new BUSINESS or q NOn-5peculatives
Character in Excess of That of Any
Previous Year-The Treasury Sur
plus Still an Element OF Uncertainty
Tho Failures Of the Week.
WASHINGTON July Is-Dun s. Co.'S.
review of trade for the past week reads as
follows
For the dull season of the year business
continues remarkably large The increase
In clearing house transactions for July thus
far has been about 80 per cent. at New
York, about 10 per cont. at Boston, Phila-
delphia and Chicago, taken together, and
about 10 per cent in the aggregate of all
other cities. gain so general and so great
is not to be explained by any supposed in
crease in speculative transactions. which
chiefly affect the clearings at the four cities
named, nor by settlements on commercial
paper made in the winter and spring. for
the increase in the first week Of the month.
which would naturally include the greater
part of such settlements, was but little
more than in the latter weeks. The new
business of a non-speculative character eYi4
IDENTIFY exceeds that of the same month i'm
any previous year From all parts of ths
country also come reports that aa active
and prosperous fall trade is anticipated,
and crop prospects continne favorable.
THE FINANCIAL OUTLOOK.
But the financial outlook is regarded az
made uncertain by tho continued exports
OF gold, the liquidation Of foreign holders OF
securities aud doubts about trust OPERA
tions. Secretary Window has talked
with some freedom regarding the pur-
n Rhou Of hnfr de as..a~
more liboral offerings will come whenever
there Is real need Of larger supplies of
money, but stating that the prices now paid
are as high as he thinks tho government
ought to pay He has no power to helm
matters, no shows, If it proves that those
who want money are uot those who have
boHds to sell, but considers that the mone-
tary supply is atpresant ample. All reports
from interior cities indicate that the
demand is everywhere met by an ample
supply, and at nearly all points is still but
moderate.
TREASURY DISBURSEMENTS.
Tho treasury has paid out during the
past week 81, 100000 more than IL has taken
iii, but the disbursements incident to the
beginning Of the new fiscal year will pres
emily have passed, leaving bond purchases
as the only means for dsposing Of the sur
plus revenue. Already s3.000,C00 in gold
has been ordered for export this week, but
the rate for money here does not rise nor
does foi eign exchange rise.
FULL NORMAL DEMAND FOR GROCERIES.
At most points there Is observed a full
normal demand for groceries, excepting
articles especially controlled by speculation
or trusts and the demand has raised coffee
u cent, with sales Of 32l 900 bags here.
while distrust OF the combination has helped
to lower the price of sugar an eighth. Tha
supplies OF dairy products are very large
and butter has fallen half, and cheese q
quarter of a cent. Pork products are q
fraction lower.
MOVEMENT OF DRY GOODS.
The movement Of dry goods is little
moro active here, but scGnty at Philadel-
phia. Print cloths have slightly declined to-
g. "a cents for 645, but bleached cottons are
ia better demand. The demand for woolens
Is still very conservative but makers claim
that the new and slightly advanced pricea
are as low rs possible In view of the adj
vance in wool. OF the great industries,
WOODEN manufacture seems in most uncer<
tainty, for the sprice of the material has
further advanced about one cent on the
average and the tone Is very firm, while.
manufacturers do not care TO sell wool shorts
by disposiug of goods at present prices, andI
are not yet encouraged by the demand forl
goods to hope for an advance.
BOOTS AND SHOES.
There is more confident feeling in the
boot and shoe and leather trades and pro-
duction having been limited by unremun-
eratiye prices, some improvement is ex-s
pected.
The coal market is full and the demand
backward, though shipments east are large.
The output for the two weeks Of July has
been about 100000 tons, and for the year
thus far 1900, 900, less than last year, or o
per cent.
IRON HEsITATING.
Iron is hesitsting again, for though fur
naces are we'll sold for some weeks to ONE.
consumers are not disposed to buy largel1
for later delivery at present. prices, and the,
belief that the present rate Of production
cannot be maintained seams to be increas-
ing. The demand for finished productions
is not satisfactory, though rather better al
M N9w York York m and the sales Of
but $1,000. For the half year the actual
shipments Of rails were SIS, 900 tons against
,558 last year, and 907, ,371 the year be-
fore. AZ the prospect In the stock market
docs not now encourage hopes of larger
railroad building for the rest of the year,
tue expectation Of an advance in iron is
less confident
Copper is weaker with August lake offered
at lt.75 cents, and lead Is fat at SIS
cents.
COTTON DULL
Cotton has been unchanged in price and
dull. TIE general average of prices is lower
by nearly one-half of per cent than ID
was week ago, and unless crops sustain
great injury 10 is likely to go still lower.
Tho exports last week were large, and for
the half of July arc about 25 per cent. in
excess Of last yeGris, but stocks have
tended downward and average about 81 25
per share lower than week ago
The business failures occurring through
out the country during the week number,
for the United States 1888, aud for Canada
20, a total of 2O8 against 209 last week