The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-06-29
TRADES OUTLOOK GOOD.
THE CROP REPORTS UNUSUALLY
FAVORABLE.

Some Damage to Cotton and Grain
in Texas on Account of Rain the
Only Unfavorebie Crop Mention
Speculation Particularly Active In
Trust Stocks.
New York, June 28.-R. G. Dun & Co. IS
review of trade for the week is as follows:
ut has been a week Of considerable ex-
element in speculative circles, and of
heavy general trade, without material
change in the conditions. As all depends
in large measure at this season upon the
crop prospects, it is most encouraging to
find the reports in this particular unusually
favorable. the only noteworthy exception
being that some damage to cotton and
grain from frequent rains is reported at
Galveston. In the northwest the grain out
look is particularly fine, great improvement
being reported in quarters where there had
been some apprehension.
THE PROSPECT NOT GLOOMY.
With crops of unusual magnitude highly
probable, and with the general volume
OF business so man aimed that an
increase of 80 per cent. over last year ap-
pears in the clearing house returns. the
prospect is not gloomy. Accounts from
interior points are decidedly favorable.
At Cleveland and Pittsburg the iron aud
other trades continue to mend. The glass
factories have about all closed for the sum-
mer, it is thought with stocks not too large
to meet the present demand. Coal mining
on the Monongahela is dull, and it is ex-
pected that the agitation against company
stores is TO be commenced in that district
soon.
SPECULATION ACTIVE.
Speculation has been quite active, espe-
cially in trust stocks, grain, coffee and oil.
A sudden boom in oil has lifted the price
over cents, and has caused some specula-
tive failures; refined has been advance 30
cents per 100 gallons. Wheat has advanced
2 cents, with sales of "a, 100000 bushels on
Wednesday, and 81, 000, 900 for the week, but
all accounts of harvesting thus far are sat
isfactory. Corn and oats have declined.
each fraction, and coffee is still sold heav-
lily, the transactions for the week reaching
100000 bags and has declined half cent.
Pork and pork products are all a little
stronger, without definitely assignable
reason.
COTTON QUOTATIONS.
The sales of cotton have been 10000
bales, and the price is about an eighth
ports still fall behind those of corresponding
dates last year.
The general average of prices has fallen
during the past week. Speculation in trust
stocks has been remarkably active, and
stimulated by host of rumors. But ex-
element and feverishness have Inclined
conservative people toward caution. The
stock market has not been as strong as
some expected, notwithstanding the marked
activity in some securities.
The state of the anthracite coal trade
causes some hesitation for the trade is dull
and weak, and the production in May ap-
pears to have been 10000 tons more than
in the same month last year. Sales much
below nominal prices are reported.
IRON STRONGER.
In the iron business there is a stronger
feeling at all points, with quotable improve
ment in some grades, especially of mill
iron. But bar does not improve according
to expectations and rails are not changed in
price, nor are large transactions reported.
AT Pittsburg aud Cleveland stronger feel
ing still prevails. The money market has
stitfened to some extent here, as is natural
after heavy exports of gold.
but the treasury has paid out during the
week about $4,000, 900 more than it has
taken in. There is nowhere observable any
actual stringency, nor is apprehension no
ticeably influential. Indeed, it is one of
the phenomena which most deserves at
tention that there is generally pre-
valent a feeling of confident indiffer-
ence to the changes of the money
market apparently based upon the faith
that in any event the treasury will control
the situation. The exports of merchandise
for tour weeks h I'VE been but Is per cent.
above last years, while the imports for the
month thus far show small increase.
The business failures occurring through
out the country during the week,
number for the United States 1874 and for
Canada 81, total of 2l5, against 220 last
week.