The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-01-19
TOO WARM FOR BUSINESS
THE MOVEMENT OF GOODS CON-
sIDERABLY RETARDED.

The Effect Of the agreement between
the Railroad Presidents and the
Bankers Bad on the Iron Market-It
also Checks the Distribution of Mer-
chaudise.
New York, Jan. lS-R G. Dun & Co. IS
weekly review Of trade says: Mild weather
still retards business, and the practical
effects of the recent agreement Of the rail-
road presidents and bankers begin to be
better understood. 1t IS seen that an adj
vance in rates has already checked for a
time the distribution Of products, that is, it
increases one difficulty which had beclouded
an horizon otherwi g clear. On the other
hand anxious manufacturers in iron and
other connected industries, when searching
for signs Of enlarged consumption are
forced to notice that the agreement of the
bankers, in effect that they will discourage
the building Of more competing railroads,
does not promise large increase IN the de-
mand for iron.
FACTS ABOUT THE PRODUCTION.
Lest years production of rails was one
third less than the production OF 1887, max
ing a difference of more than zoe, 900 tons
IN the demand for iron, and yet the new
year begins with weekly produc ion, ac-
cording to the Iron Age, Of 154 1893 tons,
charcoal iron included, an increase of 5,4S5
tons in December The immediate effect in
the iron market is weakening of prices, and
southern irons are still offered at so cents
| less than similar eastern grades, though the
| latter are about 80 cents lower than q week
ago for foundry grades. Bar IRON, except
| the best is exceedingly dull, and it is again
| c$o +aJ hot rfa rqilq hn had q
equal to S27, at the mill, the sales thus far
for 1889 being only 434, 38l tons.
| The coal market IS also dropping, and
there is complaint that rates are cut by in
divdual operators, and that restriction
fails to restrict.
| DRY GOODS GOING SLOWLY.
The movement Of dry goods is greatly
retarded in nearly all parts of the country
by the unreasonable weather, and while the
sales of woolens are but moderate, there is
10 animation in cottOns, though prices are
| firm. The open winter affects the market
| ing of goods by country merchants and
also retards the marketing of products by
farmers, and therefore collections, so that
complaints Of slowness are much more nu-
| merous.
But the money markets at substantially
| all points reporting are good. While ac-
| tuaI dullness of trade is complained of occas-
ionallv, at most points, business is called
quiet or fair for the season. But the light
demand at present for raw wool or cotton
does not prevent frmness of prices, since
holders have great confidence that manu-
facturers will presently buy more hber-
ally.
WHEAT SPECULATION.
What speculation has again tended
downward, the exports from Atlantic ports
for six weeks past having been phenome-
nally dull In the light of the official re-
ports, it is estimated that the sur
plus for export during the remaining
| half of the crop year must have
been about 900 bushels January
| /, of which only about 100000 bushels
were on the Pacific coast. from which the
exports have been 50, 100000 Bushels larger
than last year to date. Wheat fell 2l5 cents
corn one-eighth of a cent and oats one-quar-
ter of a cent during the week. Pork de-
clined 25 cents per barrel and lard % cents
per hundred pounds. The butter market
was demOralized and cents lower. Eggs
| fell 2 cents, and leather has slightly de-
| clined.
On the other hand, coffee and cotton are
| each one-eighth cent stronger, with moder-
ate sales. But the general average of prices
tends downward the fall, since Jan. l. hav-
| ing been l per cent, mainly in the articles
above specified.
The business failures occurring through
out the country during the week numbered
for the United States 2S4 and for Canada
46, total of $50, against 3S1 last week.