The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-04-20
TRADE is STILL GAINING.
THE INCREASE Is IN vOLUME
RATHER THAN IN PROFITS.

Crop Prospects Frightening Steadily
and Largely Increased Exports Fol-
low Lower Prices-The Trade in
Rails the One Making the Poorest
Showing Less Numerous.
New YORK, April 19.-R- G. Qua &
Co.'S review Of trade for the week says:
Il still the fact that most of the indics-
tons usually considered of value point TO
genuine improvement in business though
moderate in amount and rather in the
volume of TRANSACTION than in profits. Yet,
in some directions. the outlook grows less
satisfactory every week, and dishearsen-
ment and uncertainty in few uuimportant
branches affect all trades.
CROP PROSPECTS BRIGHTEN.
Crop prospects brighten steadily. Lower
prices result in largely increased exports.
Money is abundant, the treasury is pouring
1t out freely, and there ara no signs OF
pressure from abroad. Railroad earnings
are increasing, and payments through the
banks. Yet, failures in some important
branches Of trade are numerous CONec-
tions are generally slower than usual. The
iron and leather interests are embarrassed
by a production largely exceeding the
present demand.
INTERIOR REPORTS FAVORABLE
Tie reports from the interior centers of
trade are almost uniformly Favorable, in
dicating a moderate but steady improve
ment. At Kansas City the wet weather
has somewhat affected trade and collections,
and at Pittsburg slow movement and
weakness in the prices of iron
affect business generally, but at Clevelend
more inquiry for iron ore is reported and a
better feeling is manifest. Similar infiu-
ences doubtless account, in part, for the
general dullness at Philadelphia, though
the grocery, provision and ca tie markets
there are fairly active.
WOOL WAITING.
The wool market is waiting. The old
supply is nearly exhausted and new wool
being not, as yet, avail BILE in any quantity,
the prices are mostly nominal but the aver
age for the 104 grades and quantities is
nearly half cent lower. This Is the direct
influence of the depression IN the iron and
steel business, but it has still greater moral
influence, because of the current i'm
preston that price, or consumption, of
pig iron affords a reliable barometer
of the general condition of business. 1t is
evident that this impression must be modi-
fed in some measure in times like these,
when the consumption for rails has declined
enormously. A Chicago publication of the
mileage Of all the roads projected fails to
stimulate the iron manufacturers, who are
well aware how many concerns are in the
market to purchase rails with bonds not
otherwise marketable.
AN ENCOURAGING SYMPTOM.
But when the quantity of iron made into
rails is deducted, the remaining consump-
ton for all purposes this year exceeds that
of last year by not far from 10000 tons per
uub il Of q 4
symptom. Prices are low. however, and
the tone of the market weaker, and it seems
inevitable that the production mus speedily
be much reduced unless the demand in
creaseS materially.
The overproduction Of leather does not
appear to be caused by any sudden shrink
age ia the demand for finished products.
since shipments of boots aud shoes are
larger than in any previous year. But the
depression in the price, which has now con-
tiaued since 1850, and reached IS per cent.
is unprecedented as to duration, and excess
of production undoubtedly begins to em-
barrass many makers.
COTTON MANUFATURING.
Cotton manufacturing is progressing
fairly, with the consumption a little larger
than in any previous year. and the demand
for goods this week seems better with print
cloths strong at ) cents for 64s.
Usually the open winter accounts for the
difficulty in the lumber business. which, in
some quarters. is much embarrassed by the
lack of supplies, and in part for the weak
ness in the coal market. Copper has fallen
g l2s at London during the past week and
projects for future control OF the market do
not vet materialize. Tin mas also declined
TO 20.S7 cents, but lead is strong at 3.61
cents
WHEAT But A SHADE LOWER.
Wheat is but a shale lower, and corn q
little higher than week ago. The rapid
approach Of another harvest, with an IN
sod surplus in excess Of al probable de-
mands, which seems likely to be not far
from 40, 900, 900 bushels july l. is sufficient
Gauss for the depression of wheat, and the
failure and suici1e Of an operator at tie
west tell of losses sustained The general
average Of prices is shade lower than 8
week ago.
TREASURY DISBURSEMENTS.
Although the treasury has been dis
| bursting money largely, holding in cash
| about 500, 900 less than at last reports, the
exports Of merchandise improve, and for
| the two weeks Of April have been 2013 per
cent. larger than last year, while some ten
dency to decrease appears in imports at
{ New York.
The bu-laess failures occurring through
| out the country during last week number
I for the United States 2l1 and for Canada
q n > roo -