The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-06-22
BUSINESS MORE ACTIVE,
Nevertheless the Outlook Not Much
Unchanged.

Unchanged
New YORK, June 21.-R. G. Dun & Co.'S.
review of trade for the week SAYS;
While business is rather more active, it
cannot be said that the outlook has, on the
whole, improved There IS better feeling,
with larger transactions in iron and wool,
and crop prospects are more favorable, but
the agreement of the railway presidents
has not prevented o renewal of strife, and
Generalization of rates is spreading
widely, and meanwhile the exports of
gold tomorrow will exceed $780,
O0O If the railway outlook con-
tinues to discourage foreign investors.
and banks begin the last half of the year
with low reserves, gold going out and large
crops to be moved, the monetary prospect
VIII not be quite encouraging. The present
increase over last year in the volume of
payments through the clearing house is
large at New York, averaging 81 per cent.
for two weeks of June; not SO large at Bos-
ton. Philadelphia and Chicago, where
speculation is active, but averages for two
weeks 1873 per cent. and smaller, but yet
considerable at thirty remaining towns,
where the increase for two weeks
averages 9. per cent. An actual increase
=
fairly distributed, though at about third
OF the cities business falls below last year.
BETTER PRICES FOR IRON.
Better prices for iron are reported at
Pittsburg, Philadelphia, and to some ex-
tent, here, the advance on many kinds of
pig iron being about so ceuts per ton But
northern No. can still be bought here at
SIG so to SIS, and southern No. at SIG 25
to SIT per ton. The markets
for manufactured products are
stronger and higher, but there is feeling
of doubt whether the Improvement will
hold after orders have been placed which
result from the recent destruction of prop
erty by the floods.
In coal, recent hopes have not been real
lied. 1t is even stated that the Reading
company has not received single order at
the late advance, and sales below the sched-
ule are reported at Philadelphia.
Copper is unchanged, but tin is lower, at
20 cents, the production having been stim-
ulated
Wool is rather stronger, 1O4 quotations
averaging three-tenths of a cent higher,
and manufacturers in some linesss,,buy more
hopefully, but in many othersthe state of the
goods market is still given as a good reason
for buying no more than enough for imme-
date requirements.
COTTON LOWER.
Cotton has declined one-eighth, with sales
OF 4S6, 200 bales in tie week, which is more
than double the entire stock at all ports.s
The long expected break in coffee lowers
the price 4 cents with sales of 696. 900
bags, but the price is still Is cents for
December options against 91S year ago,
aud operators wonder that the public does
not buy.
Pork. lard and hogs are fsaetion lower.
Sugar is unchanged for this week.
Leather is 4 cent higher for some grades.
The general tendency of prices has been
slightly upward, but the advance averages
only an eighth Of per cent for the wesk.
The heavy shipments of gold this week
are surprise to many, and are attributed
by some bankers to the needs of the Bank
OF France and the large expenditures of
Americans at the exposition. But the
balance Of foreign trade for months has
been SO heavily against this country that
no such explanation OF the gold shipments
is necessary. For June, thus far, the
merchandise exports from New York are
10 per cent. larger than last year, with i'm
ports somewhat smaller, but even these
changes would leave heavy excess Of i'm
ports over exports to be met by shipments
Of securities or gold. At present the
temper OF speculation does not encourage
the belief that foreign buyers will take rail-
way securities largely. On the contrary,
Generalization of railroad rates is likely TO
be followed by foreign sales
The stock market is a little lower than a
week ago, but with great speculative
strength still shown in stocks which have
been controlled by powerful combinations
The business failures occurring through
out the country during the week number
for the United States 1876, and for Canada
%. total of 220, against $50 last week.