The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-09-07
MONEY ON EVERY BUSH.
ALL FEAR OF sTRINGENCY Has
PASSED AWAY.

Stocks Higher in Consequence and
Real Improvement Seen in Almost
Every Department of Business
Efforts to Boom the Prices of Wheat
and Corn Futile.
New YORK, Sept. 6.--R. G. Dun & Co. Is
review of trade for the past week is as
follows:
Real improvement is seen in almost every
department of business. With each week
it becomes more certain that the crops of
the year will be large. and of late the news
from abroad has clearly indicated larger
foreign demand, while such speculation as
might arrest the outward movement of
grain and provisions has thus far been pre-
vented.
In cotton, on the other hand, the present
scarcity rules the price in spite Of the
| bright prospects as TO the coming crop.
The effect Of the heavy bold purchases
! by the treasury has been great in the stock
market and is now felt in much bstter
demand for commercial paper, while the
| prevailing opinion in the street is that all
danger of monetary stringeucy is over for
| the year. Nor can good reason ue seen for
distributing this impression unless specula-
\ ton Is pushed so far as to cause mischief
FAILURES FORGOTTEN.
Meanwhile the unfavorable effects of the
recent dry goods and manufacturing fail
ure are gradually wearing off, as no furth-
er disasters Of importance have followed.
| Reports from other cities are unusually
| satisfactory, indicating at every point
| either impI pIovement or a continuance of
the previous activity where the expansion
of trade had been greater. At Cleveland
| there is great activity, especially in ore and
pig IRON, and the demand for ore seems 10
have actually exhausted the supply for the
| season.
The improvement in iron and steel is
general at Philadelphia and Pittsburg, but
| large buyers hesitate, and No. pig is still
quoted at $17 to SIS. with rails at $2S t.
$2S so. The demand for bar IRON is heavy
and prices have advanced. Though the
| production is enormous, it is realized that
the cost of making iron is advancing almost
everywhere, AID, meanwhile remarkable
rise il prices abroad shuts all foreign com
petition off to an unusual extent.
wHEAT's DECLINE.
The attempt to host wheat on extrava-
CANT estimates OF the European deficiency
and demand, has not been succe ssful, and
the price has declined "a cents for the
week. with sales of only 1000, 600 bushels
| That Europe will want more wheat than ii
did last year, is obvious, but the country
has a great deal more to sell.
Corn also fell l cent, with sales of 1000.
900 bushels, and continued exports, reacn-
| ing 5000. .000lbushels for the four weeks Of
| August, have an important bearing on tn,
| probable price of wheat. Oats were also O
shade lower, aud oil declined Is cents witt
small transactions.
Sugar has gone still lower, but at the de
cline some increased demand appears,
Pork has been steady and hogs higher
while spectators in coffee have raised the
price to 1914 cents.
The distribution Of groceries is generally
liberal, and IN dry goods jobbing the trade
has been very large, with print cloths sell
ing below S.15 cents for 64s; dress goods
steady, and woolen goods as before, in u
comparatively light dema d.
MONETARY DISBURSEMENTS.
During the past week there has been great
activity and stimulus afforded by disburse
mants. The cash holdings Of the treasury
have been reduced over $15 900, coo since a
| week ago, partly iii payment for bonds, of
which considerable offerings are still made
daily and partly in the disbursements Incl
dent to the beginning of the month. The
| effect upon the stock market has been an
advance of 81 10 per share in the prices OF
| dozen Actlhe s5CuTlJI@s, anu d IHOueIhue
advance in the rest of the list,
with the failure of one operator on
the wrong side of the speculation. The
| Northern Pacific group of securities led for
a time, and afCerward coal stocks. which in
view of the state of the coal trade is rather
significant.
In both imports and exports the increase
over last year continues enormous, and the
rate of foreign exchange has advanced to
S4 50, the Bank of England holding It's
minimum at per cent.
The general level Of the prices Of COM
modities is u shade lower than Sept l.
The business failures occurring through
out the country during tho week number
for the United States ia and for Canada
u, total of 2J1, against I'll last week.