The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-07-27
TRADE HOLDING Up WELL
THE DRY GOODS HOUSE CRASH
THE WEEKS ONLY CLOUD.

With a Probability of a Large Eor-
eign Demand-The Wool Market In-
clined to be Still Less Clear.
New YoRK, July 26-R. c. Dun 81
Co.'S review Of trade for the week is as fol-
lows: The business outlook had, on the whols
improved during the week, but on Thurs.
day the assignment of anlmportant dry
goods commission house with liabilities Of
over -, ,OOO, 600 occasioned some disQuietude.
Asvbanks and other lenders in several cities
are affected To some extent, and may be rem
dered more cautious in scrutinizing
paper, the effect may not be fully
realized at once. But the general
tenor of advices is encouraging. The
crop prospects improve; and there is a
probability Of large foreign demand.
The apprehended financial difficulties do
not yet arrive, the great industries seem to
be getting in a stronger position, and the
railway situation is, at least, no worse. All
the cities except nine report larger bank
clearlngs than year ago, and while the
increase Is not as large as 1t has been in
other recent weeks, it is shared by more
than three-quarters of tho cities at which
speculative dealings are not important.
AS to the dry goods failure, the present re-.
ports hold out the hope that the liabilities
will ultimately be fully met
wHEAT's IMPROVEMENT.
Late accounts Indicate a decided inn
provement in the wheat prospects in Da-
kota and Minnesota, the Weld being estf.
mated at S0,OOO,000 bushels against 60, ,000>
600 last year. Foreign reports are emil
nently two-faced, but on the whole, PROMISE
larger demand than last year. New wheat
is going freely and beginning to effect
ID
the past estimate old wheat in large quaint
tiles continues to come forward from north
western farms, where speculators have
| represented the supply as. exc
hausted, The price has advanced
| y, corn and oats "a and hog products have
declined fraction. Cotton reports are on
| the whole tayorable, especially from Texas,
but the scantiness Of the present supply sus-
tatns prices, which are unchanged Sugar
has declined d in spite of the report that
| famine is imminent. The consumption has
been sharply reduced by the high prices.
| The general average of prices is a shade
| higher than week ago.
| IMPROVEMENT IN THE GREAT BRANCHES.
There seems to be real and steady inn
| provement In the condition Of the great
branches Of industry, although it is by no
| means such as yet as to clear away uncer-
| taiEty. The demand for iron in various
general stitfenihg of prices during the past
/ week inspite of the enormous production.
| Bar iron is a tenth Of a cent nigher Rails
! are firm at $2S, and nails are stronger rhe
business IN structurahand sheet iron is Very
| satisfactory, but the demand for plate is "a
| shade less urgent. The official renQrt shows
| that the production of pig, 1885,, ,677 gross
tons, was the largest in any half year jim
the -country's history, and, wh1le stocks in-
creased about 200 tons, the cousumpr
/ ton was but 10000 tons less than in tho
last half of 1888; 1S1 900 less of northern
iron, apparently, and 81 900 tons more OF
southern iron. But the productiohn has
been in excess Of the demand.
THE WOOL MARKET.
Signs of improvement. in the, wooden bus
| mess are less clear, but manufacturers hava
been buying more freely and there has
| been some increase in the orders for goodss
| Confidence in a large fall trade is tmdihin-
/ ished, and while the stocks on hand in
some lines are hrge, there is feeling that
| the force of foreign competition will be less,
| felt hereafter. The movement Of cotton
| goods is fairly satisfactory, and print cloths
are a shade stronger.
BOOTS AND SHOES.
The harvest season for boots and shoes
| has commenced well and the shipments for
the first half Of 1889 have been fully up to
l lunb year Is ItlONbIle1b, WHICH SHOW gu dn ln~
| crease of more, than 90 per cent since 1879,
about double the increase in population.
The coal business is dull and weak, with
a shut down in Lehigh and Wilkesbarre.
BUSINESS GOOD IN THE INTERIOR.
All accounts from interior cities indicate
that business is fairly good for the season,
| though there is, perhaps, rather general
| feeling that the fall trade does not open
quite as early or as briskly as had been
hoped.
The monetary supply is at all reporting
points ample, and the complaints OF slow
collections are fewer than usual. The
treasury has taken in 81 000, 900 more than
it has paid out during the week, but the ex@
ports Of gold have been for the moment ar
rested, aud commercial bills are more freely
made against gram and cotton to 90 abroad.
The exports from New York for the
three weeks of July have exceeded last
years by l55s per cent, though the imports
are also large.
THE STOCK MARKET.
In the stock market the depression has
been followed by a stronger feeling, aud
the average prices isa fraction better than
week ago, with rather more hopeful pros-
poets as to the settlement of the difficulties
between Chicago and the seaboard.
The business failures occurring through
out the country during the week. number
for the United States 49, and for Canada
~, total OF PIG, against 20S last week.