The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-12-14
TOO MILD FOR BUSINESS.
THE CLOTHING TRADE ONE OF THE
WORST SUFFERERS.

The Balmy Weather Good For the Ex-
tensive Building Operations in Prog
ress at Many Places-The Financial
Situation Everywhere Healthy The
General Level of Prices a Trifle
Lower.
New York, Dec. 1S-R. G. Dun g. Co.'s
weekly review Of trade for the past week
reads as follows:
But for one thing, the business reports re-
ceived this week would be exceptionally
satisfactory. Among all the reports re-
ceived there is not one that does not mention
mild, open and unreasonable weather as &C
counting for some depression in one or more
branches Of business. The effect is espe-
cially marked in the clothing trade, which
has not wholly recovered from the unfavor-
able results Of the last open winter,
and at Philadelphia it begins to
be feared that some misfortunes
will occur unless good weather
comes soon. Trade in woolen goods and
heavy boots and shoes is also retarded and
the anthracite coal trade even more
seriously, though the depression of the
detailed weekly reports leaves much to the
Imagination.
GOOD FOR BUILDING OPERATIONS.
On the other hand there is some COM
pensation in the fact that open weather has
enabled building operations to be carried
on longer than usual, and the activity in
that large department is almost unpre-
cedented at many points, notably at Phila-
delphia, where real estate is also
active, and at Boston, where
rebuilding after the fires there and at Lynn
causes an especial demand for materials
The holiday trade has also commenced
early and is of unusual magnitude thus far,
indicating that millions have had pros
porous year, and are inclined to spend
freely.
THE IRON TRADE.
Strong evidence that the situation is
healthy appears in the return of the iron
furnaces for Dec. l, which shows a weekly
output of 1863, Isl tons, against 163, 225 Nov.
l, and las, ,9l3 year ago. With an output
at the rate of 8,750,0 600 tons per annum.
iron does not yield in price, and
though 1t is admitted that heavy sales have
been made at figures below Philadelphia
quotations. and in many instances probably
at S19, with a guarantee against loss if
prices fall, it is hoped that $50 may be
established for the coming year, but there
is some evidence of uncertainty in the
market for bar iron and other unfinished
products, though steel rails are firm at
$685. Advancing prices are noted at Pitts
burg, and great activity in ore at Cleve-
land where it is stated that the entire Lake
Superior product for the next year has been
already sold.
COTTON MANUFACTURE.
Cotton manufacture continues undis-
turbed, and though the receipts and ex-
ports of raw cotton both fell below last
year for this week, the price is unchanged.
In spite Of the effect Of the unreasonable
weather on woolen manufacture, the sales
of wool at Boston were exceptionally large,
4,014, 200 pounds at firm prices, with signs
of improvement in delaines in Ohio and
Michigan.
The speculative markets have been
stronger, but show no unwholesome
activity. Coffee has risen five e-eighths of
cent, with sales of 316,0 bags, and enor-
nous exports of cotton thus far, in Novem-
ber $47, ,555. .03S in value against $3S, ,210
hlast year, old the price unchanged.
THE GENERAL LEVEL.
The general level Of prices has slightly
declined for the week, but is about a fifth
of per cent above that Of Dec. /.
Fears of monetary difficulty have faded
away. but the market has not grown easy
as yet, nor have reinforcements came from
any quarter. The east is in want of funds,
the west finds in phenomenal business
activity employment for the large
amounts sent thither, and the
anticipated imports of gold from Europe
do not yet arrive. Foreign exchange, in
deed, is shade stronger than a week ago.
The treasury has managed to avoid acu-
mutation, and holds 800, 600 less cash than
on Friday last, but there is thought to be
some prospect that speedy action on the to-
bacco tax may cut down the revenue with
out waiting for general revision of the tariff
and tax laws.
The business failures occurring through
out the country during the last week num-
Der for the United States 260, and for Can
ada 80, total of 29O, against 3l6 last
IUaak