The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-02-09
PRICES BEGIN TO GO UP.
I'M G. cos REPORT FOR THE
,rrEK VERY REASSURING.

Volume of Legitamate Business
-.urer Than in Any Previous Year
peItetthat the Quotations on Iron
"a struck Bottou-The Weeks
Failures,
M Work. Feb. S.--R. G. Dun & Co.'s
- If trade for the week says:
1.-THE average price of commodities which
, 49,, hean gradually declining since Jan. l,
LA e. some weeks previous to that date
..ban a turn upward during the past
The advance has been about per
in the aggregate and is shared about
lie ..il,, nv speculative and non-speculative
Ills The change for the better In this
-..,,aot after so long period OF declining
;,s, with large business In progress is
P-.bla Indication for the future, but in
10. Instance the temporary Influence of
-,.nos Of weather, and of certain specula-
~, Governments must be remembered.
LEGITIMATE BUSINESS.
= has been a matter of surprise, how
~ tbet the volume Of legitimate bus
go ,-. has continued larger than in any pre-
ln9s ~ ysar notwithstanding the IL season.
Ia weather III JdhuolJ oAA VIZ NSNOA AHS
az Na',orca of falling prices. Outside of New
I E1Iar, tba payments through the clearing
IN I'm IN January were about Is per cent
,IDs', then last year, and colder weather
. ma N remove an important cause Of de-
preston. 80 ,,;vod SOMA
- Taaker and others stronger. Pork
S.s 6eclined 50 cents per barrel, lard
frsctjon and hogs Is cents per hundred
,raight and these movements are in accord
Mn decline Of one-haf cent in corn and
! cent IN oats
wHEAT'S RISE.
po+ vbeat has risen 2L cents, with re,
rorts that a powerful combination at Chi
rago has cornered May deliveries, and the
MARGIN between New York and Chicago
rr'ces has grown wider, Chicago being
b;gbor The highly artificial nature OF
western prices needs no other proof than
tba fact that, in spite of this difference,
wheat is still shipped from the west and
from Chicago to New York. The export
demand has increased little, but is still
0iI has advanced u cent and cotton a
cent. in spite of heavy increase of the
late receipts over last year, and consider
able decrease in exports. The weather at
the south has been exceptionally favorable
for saving a large crop, and higher esti-
mates of last years yield are current
IRON HAS STRUCK BOTTOM.
The iron trade is thought by some to
have touched bottom The Thomas Iron
Company has named SIS 80 as its contract
price for gray forge, which is called equal
to sl5 for southern iron at tide water, but
has not vet decided upon its opening price
for foundry grades Some southern sellers
4, fr.- 20
cept for Bessemer pig, no further depreS-
SION in price appears, but of that grade con-
siderable sales are reported at $15 by man
ufacturers, who had taken larger stocks
than they are able to use with profit. No
change appears in rails, and it is claimed
that the only sales below $27 have been
made under exceptional circumstances.
COAL VERY DULL.
Coal is phenomenally dull and many col
heries are stopping. The mines at Pitts
burg have resumed and the coke strike has
been abandoned.
A noteworthy feature in the'reDorts from
the interior towns is that all record com
plant as to collections. One city reports mo
Improvement" another rather poor" and
others somewhat dulln or decidedly
Slow But no uneasiness is expressed and
slackness at this season Is not unusual.
though it is rare that the complaint is so
general. Business is almost everywhere
called quiet, but when comparisons are
made some excess over last year is usually
observed.
MONEY NOT SCARCE.
There is nowhere complaint as to the sup
ply Of money, but ease is generally con-
nected with moderate or slack demand.
The foreign trade continues large, and for
five weeks imports show a gain over last
year Of So per cent. and exports gain of
II per cent.
The business failures occurring through
out the country during last week mum Der
fer the United States 273 and for Canada
81, total of BOB, against 332 last week.