The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-03-23
SPECTATORS FEEL SICK.
LEGITIMATE BUSINESS GOOD BUT
THEIRS BAD.

Prices Settling Downward Steadily
Signs of Improvement in Trade in
Interior Cities-A Slight Decline in
Cotton-Ihe Copper Crash Expected
20 Cause More Disturbance,
New YORK, March 22.-R G. Dun g.
Co S weekly review Of trade, says:
In speculative departments the indica-
tons are generally gloomy, but reports
from the interior show that IN The distribu-
ton of things there is substantial improve
ment. Heavy failures aud losses at Paris,
with fear that the worst effects are not yet
realized; selling of securities on foreign
account, and consequent depression in
the stock market, though followed
by some recovery; continued fall in
wheat and corn, aud weakness in cotton
and coffee, have made the week tiresome
one for many spectators. But signs of
recovery in legitimate trade increase, and
though in important branches the season
has been exceptionally unfavorable, there
IL less dulluess or depre sion than under the
circumstances might have been expected.
PRICES DECLINING.
Prices settled downward steadily, the de-
cline TOR the week n the average for all
commodities having been about "a Il per
cent, and for TIE mouth thus far about | \
per cent, a change which tires speculative
holders, but facilitates distribution. F I'm
three quarters If the interior cities report
ing. there come signs Of some improveme It
in trade, though it is nowhere great, but
moderate and gradual. Tne outlook is
generally th ught favorable and
at New Orleans it is reported
tlat planting is under good headway, whi e
IN Dakota and Minnesota, the preparation
for seeding is a full month ahead # last
year. At Cleveaod and some othe poi is,
business is considered better THAI last
years, but t7ere is a marked r.
action at PittSburg from the favora-
BILE tone Of t5e past few weeks;
iron is lower; coke in less demand,
ard complai is of delay Of spring trade a
general. At Philadelphia some improve
ment is seen in the boot and shoe aud wool
trades; but DIV goods are in Ordinary con-
diton, and collections are slow, as also at
Milwaukee
INTERIOR MONEY MARKETS.
Interior money markets ara all compare
lively easy and well uoplied but in most
instance, it is added that the demand is
light or but moderate. The yearly com
parsons of bauk clearings, or RAILROAD ton
mage returns or earnings are just now j.
ueleSs, on account of the exceptional inter-
ruplion by storms last year, but these indi-
cations tend t. a belief that the volume of
trade has been increasing moderately
during the past few weeks.
COTToN's SLIGHT DECLINE
Cotton receipts and exports both con-
tinue much beyond last years., and the
price Of raw cotton has yielded a, while
the strike at the Fall River mills, aud the
failure of the efforts to reach a settlement,
have as yet no effect upon the price of print
cloths.
The light demand for coffee, and the be-
lief of buyers that p esent prices are I'M
warranted, have caused a decline OF only
d for the week, while the raw sugar is
strong and has advanced to 531 cents on
considerable purchases by refiners.
LEATHER STILL WEAK
Leather is still weak, the production ex-
ceeding the demand for consumption. aad
it Is noted that of leather, and boots and
| shoes, the demand is best for the poorer and
cheaper qualities.
The disclosure of an increase in the
weekly output of pig iron causes weakness,
| and some concerns are considering the ex-
| pediency of closing With production at a
rate exceeding by 100000 tons a
year the consumption in the latter
half of 1887, and with the dullest
possible market for bar iron, nails greatly
depressed. and some mills stopping, and but
moderate demand for structural or plate
iron, it is believed that the stocks of unsold
pig must be rapidly accommodating. Small
sales of steel rails are reported for S27 at
the mill.
COPPER's CRASH.
The impression that the crash in copper
must occasion more disturbance than has
yet appear d, is only increas I'd by the tone
adopted by the French ministry and by
mining companies at Boston, but sales at
improved prices at London have for two
days bsen reported.
In the dry goods business steady but not
very large trade is in progress, notwith-
standing the depressing influence of the
past unfavorable season. An auction sale
Of ginghams. at prices which resulted
in a loss to the manufacturers, was
still considered fairly satisfactory,
and somewhat more attention is
noted in prints, while woolens are
steady, with fair deliveries, but only mod
crate new transactions In foreign goods,
the month is called the dullest for years,
and the complaint of poor collections Is
more common in dry goods than in other
trades No disturbance has occurred in the
money market, and rates are half cent
lower.
The business failures occurring through
out the country during the last week num-
Der for the United States 220, for Canada
90; a total OF 249 against 261 last week.