The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-10-19
LESS FEAR OVER MONEY.
THE SUPPLY IN THE INTERIOR |
AMPLE FOR THE DEMAND.

Trades Volume, Bank Clearings, and
Railroad Earnings Continue Lar -
The Iron Trade Still Healthy-Cotton
Manufacturers Thriving-Causes OF
the Decline in Wheat
NEW YORK, Oct 18-R G. Dun & Co. s
weekly review of trade for the pa { week
reads as follows:
As before, the money market is the one
point of anxiety. The rates are higher, but
perhaps apprehension has somewhat less
ened. and the senseless cry that the pressure
was only manipulated, has given place to a
more rational understanding of the reality
and consequent Limitation of the
demand. The country still calls for
money largely, but reports from
nearly all the interior centers Of supply
show that the supply is considered ample
for the commercial needs. The volume of
trade continues large; bank clearings exceed
last years: railroad earnings are encour-
aging, and east-bound shipments from Chi
cago are heavy.
THE IRON TRADE.
The iron trade is still healthy. Southern
furnaces seem to have well sold up, and
JnOuSu al O16T OI NO.
| at SIG so is reported, the quotation for pig
is S17 to SIS. Bar iron is not as firm as
other forms, and surprisingly heavy de
mand for plates and structural forms is for
steel rather than for iron. Rails are quoted
at S31 so, with sales for the week of 81 500
tons. An offer for 5000 tong of American
iron to be shipped TO Scotland failed because
freiEhts were too high.
The wool trade is still dull, and while
fhova de- 81 xNf Arne A.
and enlarged discounts have caused moro
business in knit goods, the demand for mems
woolens is strictly moderate.
COTTON MANUFACTURERS.
Cotton manufacturers are thriving, and
the trade in goods is satisfactory, print
cloths selling at 81 cents for CAS-. A fur
Their decline OF 1-16 cent In raw cotton
helps. and sales here were $4,000 bales for
the week. Receipts and exports both con-
tinue to exceed last years, largely.
Speculation for higher prices in wheat has
not been active, for the last gov eminent
report and heavy northwestern receipts,
prices, which have fallen rs cents for the
week, with sales of 3l,0O0,000 bushels,
against 0,0O0, 600 last week.
Corn has declined 4 cent and oats / x
cent, while pork products, though still sus-
tanned by tie clique, are little lower.
Coffee has yielded 4 cent and is weak at
Rio; traders suspect on a be ter knowledge
of the yield than has been forwarded.
The coal business is better with cooler
weather, but by no means satisfactory.
The price of raw sugar has again declined
&c, and of refined &c, and a circular an
nounces the approaching opening of a large
Spreckels ref ery, but fall in sugar trust
stock has been arrested by an upward re-
action.
THE STOCK MARKET.
The stock market resists tight money
stubbornly, but has yielded an average of
81 per share on active railroad. stocks, with
some recovery, however, on Friday. 1t is
the theory Of some western managers that
an advance in prices, just before the meet
ing of the Legislatures in the granger
states, would be most unfortunate.
But a more generally controlling
influence is the conviction that western
competition threatens mischief and is not
restrained by the interstate act or by the
good sense Of the managers, while for the
present monetary uncertainties are also
felt. The business failures occurring dur
ing last week number for the U nited States
1S2, and for Canada Al.