The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-02-24
TRADE " ATS ON SPRING
MATTERS AT a sTANDsTILL FOR
TIE PAST WEEK.

Gains shown by the Clearing House
Reports, However Much of This
Attributable to stock Speculation
Failure of the Proposed Railroad
Agreement Causes Decline aver
aging 81 Per Share in Stocks.
NEW YORK, Feb. 23.--R. G. Dun & Co.'s
weekly review of trade for the week, says:
1T can hardly be said that business has
improved during the past week, and &C
counts from interior points almost uni
formly represent trade as rather quiet or
Mt best, fair The clearing house reports
continue TO show gains over last year at
majority Of cities, but the number falling
behind is larger than it has been of
late This weeks reports show in the
aggregate outside of New York gain of
107 per cent, but a large part of it is due to
stock speculation at Boston. At Chicago
and some other western points grain specu-
Iafion has in like manner Inflated bank
transactions. The evidence Of an increase
in the volume of business is therefore less
clear than it seemed recently, but the gen
eral confidence in the future continues IN
abated.
THE RAILROAD SITUATION.
The failure of certain railroads TO assent
70 the interterstate agreement, and the de-
cision 70 organize without several, which
were at first considered essential to success
has weakened confidence in the efficiency of
that arrangement. This fact, with unTav-
orable reports of earnings from some roads
has caused some depression in stocks, and
the closing on Thursday was about 81 per
share below last weeks, but stronger
market appeared this morning.
IRON MORE STEADY.
The iron trade seems rather more steady,
but southern No. ! is still quoted at ST.,
and the pressure 10 sell by some northern,
as well as southern furnaces contrasts with
the large orders booked by the Thomas
Iron Company. Bar iron is still so Irregular
as 70 be hardly quotable. The sales OF rails
III January are officially reported az 494, al
tons against only 394, S97 in the same month
last year, and some works have new con-
tracts TO keep them busy most Of the year.
hut oshers are still accepting less than $27
per ton.
BREADsTUFFs STRONGER.
In breadstuffs there has been a stronger
market, with the usual lack of definite
reason. The Atlantic exports do not inn
prove, and corn goes to Europe in great
quantities in place OF wheat, while the ex-
ports of wheat from Pacific ports are re-
nsrlxably large But wheat has risen 2H
corn. while oats have declined a celt.
Pork is steady, and lard stronger, while
hogs are weaker, each by is cents per 100
pounds.
COTTON HIGHER.
Cotton has risen x cent with sales here of
400, 600 bales, but the receipts this week have
been 96, $50 bales against 69024 last year,
and the exports only 76, AIS against 100, 100
bales last year.
Coffee is II cent stronger with sales of
go, 900 bags, and oil nearly cent lower
The general price for commodities has
declined during the week and has now lost
more than the entire advance carly in Feb
ruary. The prevailing tendency still seems
to be toward lower level
MONEY PLENTIFUL.
Interior cities all report money in ample
supply, and nearly all report collections
slow, or somewhat backward. Noteworthy
Improvement is seen il tha exports from
New York for the week, making gain for
the three weeks of February of II per
cent, against an Increase of per cent.
on imports. As there is no longer prospect
of tariff legislation of any kind at this ses-
sion, while a reduction Of the internal rev.
enue is possible, the monetary prospect is at
least as favorable as ithas BEEN at any time
this year, but the uncertainty as to the
movement of securities does not diminish.
THE ONLY DANGER
A considerable withdrawal of foreign
capital seems just now the only appre-
hended change which could seriously dis
turb the money market for some time to
come, and of this there is yet little indica-
tion.
The business failures occurring through
out the country during last week number
for the United States 229, and for Canada
Al, a total of 270, against 2S9 last week.