The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-09-28
Money RULESTHE WORLD
THE BUSINESS OUTLOOK GOOD,
BUT INTEREST HIGHER.

DO I'M HUB LIN.
Gold Weather Betters Trade in the
Northwest, and Improving Manufac-
lures and a Heavy Export Trade
Helping Out In the East-Stocks and
Wheat Higher
New YORK, Sept. Pr. G. Dun & Co.,
in their weekly review of trade, say:
The business indications this week are
generally favora lie. Throughout the
northwest colder weather has made trade
more active, and at the east improving
manufactures and a heavy export trade
stimulates busin IS of all kinds. The
exports from New York for the four weeks
exceed last years by 25 por cent, and a like
gain elsewhere would mean au excess of
exports over imports for the month APP
proaching $9,000,0O0. for the increase IN
imports here has been but 31s per cent.
MONEY DEARER.
But THAI excess would not meet the
months allowance for interest, under valu-
atlons and freight charges, 50 that foreign
exchange has advanced during the week
half cent. The Bank of England has
raised its rate from 70 per
cent, and that bank lost 1855. 0J0 specie for
the week. the Bank of France also losing
So, 275,0 900, aud the Bank of Germany
S2, 2l4,0O0 These evidences of foreign de-
ma d, with the state OF the reserves at New
York, render the monetary future less clear,
and rates for money have advanced during
the week fully l per ceat. on call,
with increasing caution in commercial
loans. The treasury has helped during the
week by disbursing 81 250. 900 more than it
Nnlr -, 4 1T.
points all indicate an ample supply of
money for legitimate needs, ald no
stringency.
THE STOCK MARKET.
Until Thursday the stock market had
been comparatively inactive, though not
tecli ilg B t a sharp advance has since
appeared, putting the average of prices
fully so cents higher than week ago. Re-
ports Of foreign buying of securities are
circulated, but the market is still mainly
confined to the pr fesSionels, though its
advance should indicate stronger confidence
as to the monetary future, and also to an
early settlement Of rates.
MANUFACTURES IMPROVING.
Manufactures are clearly Improving. At
Boston the s4les OF wool have bee 2,290,0OO
pounds for the week, with prices about
steady and the demand more active. At
Philadelphia manufacturers are also buy.
ing, though with caution. No present
change is noted in the goods market, which,
indeed, has been less active since tle storm,
but there S growing confidence that busi-
ness is going to improve.
iron AND STEEL.
The demand for iron and steel still meets
a very large supply, aud the changes in
price are all upward Pig iron can still be
ho1 at f1.. Nd I1H -
northern No /, SIG for No. 2 and SIS
for mill, but from 81 to 81 so more is
paid for preferred brands. Blooms have
advanced 81 bar, plate and structural mills
are busy, and while $40 is asked for rails at
all eastern mills and $50 quoted at Pnila-
deIphia. such prices are rot yet established
by considerable sales. At Plttsburg S3l so
is quoted, and at Chicago $685. The rise
from the lowest point has been So at the
east d s. at the west The scarcity of
manganese ore, which has risen So at Pitts
burg, is an important ee nent.
COAL STRONGER.
Coal is rather stronger, but the demand
does not yet meet the supply.
Copper has cen shade stronger abroad,
but dull here az IL GEMS for lake, and the
eparation to refine the large Anaco .da
output by electric pr cess promises to
greatly increase the supply OF the better
qualities.
wHEAT's RISE.
Wheat has risen 2% cents during the
week, on sales of "a, ,000 900 bushels, not be-
eau of larger foreign demand, bat be-
cause the supplies coming from the farms
do lot grade so well and are not so large as
was ex ected. Prices are low at best, but
there is nothing t. modify the belief that
the supply for the year will much exceed
all demands. Corn has fallen over half a
cent ami oats a quarter, with moderate
trading.
LIvERPooL'S COTTON CORNER.
A Liverpool corner IN cotton is threat
ened by general stoppage of the mills and
a rapid movement from the American
plantations, the port receipts thus far ex-
ceeding last years by 5000 bales and the
exports by 81, 200. and the price has declined
three sixteentns
Coffee is d cent lower on sales of 3l2, 900
bags, and oil cent lower on small trading.
Pork prcducts are rather stronger, and
butter is cents higher.
AN UPWARD TENDENCY.
The general tendency of prices is up
ward, t ough the advance for the week nas
been slight. But the signs of greater
activity in all directions are encouraging,
and the only unfavorable symptom is un-
certainty as to Q monetary supply,
The business failures occurring through
out the country during last week number
TO- the United States 1855, and for Canada
81; total of 1872, against 1913 last week.