The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-02-16
BUSINESS IS IMPROVING.
THE EXPECTATIONS OF TRADE
NOT MET YET, HOWEVER.

Larger Movement OF Freight, and
Railroad Earnings satisfactory-Un
certainties in Some Markets Affect
. iaR Many Departments of Commerce
Unfavorably.
NEW York. Feb. 15.-R. G. Dun g.
Co IS review for the week is as follows:
Actual Improvement in business continues
although there is still much complaint that
trade thus far this year has been disappoint-
ing The payments through banks are
large, the movement of freight is
larger and the earnings Of rail
roads satisfactory. but the output of
iron has declined and uncertainties
IL the Sraic, cotton, iron and minor metal
markets affect many departments Of bust
Eess unfav1rably The upward movement
il prices, Which was noticed last week, has
been sustained, the general average for
commodities being about nalf Of one per
cent lover than q week ago, though still
about that much above the level OF Feb. l.
MONEY AND STOCKS.
In the money and stock markets the
changes during the past week have not
been very important, but on the whole in
the direction of improvement.
The output Of pig iron has diminished.
The furnaces in blast February l were
producing l47,l1l tons weekly against
1872, 27U January !, a decline of 81 per cent.
While this is but a natural reaction after
the enormous and excessive expansion of
the past few months and still leaves the
weekly output about 30 per cent larger
than at this time last year. it is an evil
dence of a shrinkage in the demand which
may render inevitable a much greater de-
crease in the output.
RAILS STAGNATORY
For rails business is stagnating. Only
three mills out of fourteen are now running,
according to a recent statement, and the re-
corded sales this year have been far below
the capacity of the work. The plate and
tank iron trade is dull, and in
though hopeful for the future. There is
cutting in tho sales of pig iron by some
northern as well as southern furnaces, and
purchases are generally confined to imme-
date needs.
The coal trade is also depressed by over
production and the cutting of rates.
wHEAT'S RAPID RISE.
In wheat the rapid rise reached 9S$4
cents on the 18th, but prices have since
been weaker, and show an advance of only
l cent for the week The sales here have
been 81 COO, 600 bushels, but the Atlantic
exports were in the five weeks ending Feb.
2, only 242 453 bushels, against ], 764, 1888 last
year, and of fl Dur 5S3, 100 barrels against
l,032, 532 last year This compared with
exports of 10, 1l5, 1886 bushels of corn during
the same weeks against L, TBS, 567 last year,
shows how the foreign trade has been
affected by the speculation which holds the
prices Of wheat at Chicago far above the
prices at the seaboard.
CoRN's ADVANCE.
Corn has advanced but half cent, with
sales of 100000 bushels, and oats are I'M
changed.
Oil speculation has lifted the price Al
cents, with sales Of only 100000 barrels
here.
Cotton, with sales Of $4,000 bales, and
coffee, with sales Of POI 900 bags, have each
declined an eighth, and pork is so cents
lower. with lard 2715 cents lower.
The dry goods trade has been only mod
crate in amount but is more hopeful because
recent cutting Of prices has diminished.
STAPLE cOTToNs IRREGULAR.
Staple cottons are irregular and generally
sluggnh, though prices are fairly held,
but print cloths are shade
lower at cents. There is fair acti witty in
cotton and worsted dress goods, but the
movement in woolens is irregular. There
is liberal buying az to worsted goods and
over coatings, but only moderate as to
CasSimeres, tlannels blankets and
hosiery The operations in this, as
III other branches Of business
are 10 some extent retarded by close scru-
tiny of creditors which slowneSs Of collec-
tons in many quarters naturally prompts,
but reports from the interior 10 tat respect
are this week rather more favorable than
before. At all interior points reporting,
the money market is easy, with compare
lively light demand and accounts as to tire
volume Of business would indicate but mod
crate transactions.
BANK CLEARINGs.
Nevertheless, the cearings through banks
last week were 1874 per cent. larger than
they were year ago outside Of New York,
only seven cities reporting any decrease Of
which San Francisco, Minneapolis aud St.
Paul were the most important
The stock market has been stronger on
account of the covering of short sales, but
more discriminating in its temper than
usual. Most of the granger roads are weaker,
and failure to get the presidents agreement
signed by all the companies has a depressing
influence. Evidences that the agreement IS
actually evaded are accommodating, and Bal
timCre's receipts CT corn are especially
noticed.
EXPORTS AND IMPORTS.
The exports Of merchandise have been
80 per cent. larger for the first half of
February than they were last year, and the
imports also show large increase
The money market has been easy, rates
on call declining from % to ~ PER cent,
and the treasury has disbUrsed during the
week 81 100000 mere tEan il Gas taken IL,
but the decrease In the circulation of silver
continues.
The business failures occurring through
out the country during the week number
for tie United States FAB and for Canada
46. total Of 2s9 against 303 last week.