The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-01-12
TRADE KEEPS IT'S END UP
THE RAILROAD AGREE MENT IN.
SPIRES HOPE.

Speculative Prices in Commodities a
Shade Lower The Iron Market
Somewhat Oversupplied-N Change
in Rails-Cotton Goods in Better
Demand Interior reports Not So
Good.
NEW YORK, Jan. 11.-R. G.. Dun az
Co.'S review of trade for the week, saws;
Events of unusual Importance during the
past week have helped the improvement of
business. The agreement Of the railroad
presidents, if signed by the companies at
the west which thus far hold Off will give
substantial reason to hope for better era
in railway management.
No change occurs as yet in the prices of
sugars, and it may be premature to sup
pose that other forms of agreement, escap-
ing the legal objections found against the
sugar trust, may not continue to control the
market.
The combination in coffee has not pre-
vented decline of 4 of a cent in the
price, ana speculation in hogs aud lard has
tended toward lower figures. Another fall
in wheat has occurred, the price closing *
cents lower for the week, exports being stil
arrested. Corn fell rs cents and oats adj
unchanged and cotton shade stronger.
THE IRON FURNACES.
The monthly statement of tho iron fur
naces in blast indicates that the production
is much the largest ever known The weekly
output OF anthracite and coke iron jan 1
was 142, ASP tons, against 1856 627 a month
ag1, and l2l, 307 year ago. For the past
year the production is estimated at G, 500 900
gross tons The enormous supply makes
ftnsaV Az bat raIl, = a -
as few are disposed TO purchase beyond their
immediate needs, and the stocks at some
furnaces are accommodating. In the rail
market no change is reported, and no con-
siderable transactions The demand for
bar iron is somewhat improved id 81 50
to 81 So is quoted for the best refined
The coal trade is very dull
In the wool trade the demand is not !arqe.
but prices are firmly held in the belief that
stocks are scarce and manufacturers will in
limo be forced to buy largely.
COTTON GOODS IN BETTER DEMAND.
Cotton goods are in better demand, at
steady or improving prices, and a decrease
in the port receipts of raw cotton for a day
or two is hailed with satisfaction by oper-
ators for an advance The exports in
December were 425, 600 900 pounds, AGAINST
! 3l0,000,O coo for the same mon h in 1887, the
| average export price being about the same.
OF oil, the exports were about 40,5O0, 900
! gallons against 50, 500 900 the previous year
The sales in the speculative marke.s nave
/ been small during the past week and the
| general tendency Of prices for commodities
as a whole is downward
The reports from the interior towns this
week are fewer than usual and indicate a
less active state of business
FAILURES NUMEROUS.
Failures continue numerous and COM
plants of tardy collections are ra her fire.
quent, and on the whole the settlements
that alto ded the beginning of the new
year seem TO have been somewhat less satis-
factory than usual But there is hardly
any complaint of monetary scarcity In
all quarters the money markets appear to
be fairly supplied for all legitimate Dusi-
ness, and rates of interest on strictly good
paper are not higher than usual
The treasury holds about SIS, 100000 less
cash than it did week ago, and at present
the apprehensions of gold exports are less
ened by heavy exports Of merchandise, but
the imports are also unusually large.
The money market here is easier and rates
lower than week ago, and the feeling Of
confidence in the Fl ancial and commercial
uture is still mistaken.
The business failures occurring through
out the country during the week number
for the United States 35l and for Canada 80.
a total OF 3S1, against 1877 last week