The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-10-05
BUSINESS MORE ACTIVE.
Even a Closer Money Market Fails to
check Trade.

AhGCk 4Id1G-H
New YoRK, Oct R. G. Dun s. Co.'s
weekly review of trade saysi
A closer money market, as was antici-
pated last week, has checked operations To
some extent. The shipment of 100000 in
gold to Europe by firm en- gagged in plac-
ing two large loans for foreign govern
me- ITS, and therefore anxi us to prevent a
further advance in Bank Of England rates,
was all clearer evidence Of the actual de-
maud abroad, because made at a small loss
If reckoned at current rates of exchange.
A GAME OF sEE-sAw
sudden fall in tho rate from 4sS to
1861 was followed by an upward nov
ment again, and it seems not improbable
that the exige aces Of the Argentine Repub-
lie and the placing Of the Russian loan may
for some time to come affect the money
market mere. The October disbursements
and moderate purchases of bonds have
made the market easier for the present,
but the rate on call, after rising ffhm 51S
70 per cent.-and even TO 30 per ceht. Tor
short time-is yet about per cent. with
no improvement in the commercial loan
market.
HEAVY INTERIOR DEMAND.
While the treasury paid out s2S00,000
everywhere increasing, with some strin-
go cy at Cleveland, an easier feeling at
Boston, and tig At money market at Pnlla-
delphia. 1t is an encouraging fact that all
reports repre'ent Collections as at least
fairly satisfactory, and at most points the
situation in that respect is good.
BUSINESS MORE ACTIVE.
The reports of business from all parts of
the country show creased activity on the
whole, t ough in some branches trade is
not up 10 the September level.
Pittsburg notes higher prices for iron
aud steel, the ass busine active, with
the works all operating, aud the coal ade
dull, waiting water for a river movement.
Throughout the west excellent crops are
the basis of large buying by the farming
districts, and confident hopes as to trade
for the rest Of the year.
THE BOOM IN IRON.
The iron business in some danger of
| running into an unhealthy BOOM SO
| great is the anxiety of many to s.i lulate
the demand. Several large furnaces are
about going into blast, aud southern No. L
is still sold here al Sl6 IS, but higher prices
than SlS are paii for sired brands Which
are scarce. 4 d structural, plate, aud
wrought pipe are strong, bat of bar there
is not much bIylug, and some mills are
| Inviting or1eIs at 81 3d.
Rails have ac5ually sold for 500 in con-
siderable quantity at eastern works. but
| Philadelphia quotes $751; and the west CORE
| spondingly 6 Ter prices.
COTTON MANUFACTURE.
Cotton manufacturers have reason to
| rejoice at the collapse Of the Liverpool
corner, and the price of raw cotton has
declined here q of a cent, with sales of
| $40, 600 bales.
The sug ir trust seems not unlikely to fol-
low the copper syndicate and he cotton
corner, at least rs far as prices are con-
cerned. Raw su ar is lower, the demand
for consumption being slack, aud mea l.
| while heavy sales of sugar trust stock
depressed the price to about IS. The cotton
4 oil rust is also heavily sold and declined
sharply.
THE COAL MARKET.
| The coal market imp proves but slightly in
the emount Of sales, a d not at all In prices,
! so that attacks upon coal carrying stocks
| have been encouraged.
| Speculation in wheat has weake ed, and
| the price is Ia lower, with sales of 10000
| 600 bushels here Corn is | cent and oats 15
| ce + iower, and pork steady. The general
level of prices is, nevertheless, a ade
higher tha o t. l, and has advanced a per
per cent. since Sept. |, a re ult due rather to
the partial failure Of me crops than to
/ any luCTb so Vi bbe HlOllebhIy supply
The volume of money ii circulation is
| Sl5,300,00 lar yer than Sept. /, and the in
crease in three months has been $2S, 800, 900,
| but the aggregate is scarcely larger now
| than it was last December.
BUSINESS FAILURES
The business failures occurring through
out the United States 70 the quar- or ending
with Septe nber were 2,276, showing de-
CT ease Of IS OF 81 per CO it. from last yea +,
| but for nine months the number has been
| 1879, showing an increase OF 329, or
per cent. The liabilities for the past
| quarter have been swelled by few
large failures to $39, ,227 ,045. or 40 per cent.
more than for the same quarter last year,
| but for the nine months the aggregate as
been $105, ,055 800, an increase of l61@ per cent.
| Failures ia Cana la show decrease Of 8
per cent. in number, and 40 per cent in liza
| bility for the past quarter. For the niue
months there have been only three less than
| las year in number, but l6 per cent. less in
| liability. For the past week the failures
reported number III for tue United States,
aud 81 for Canada-206 in all, against 1872
| last week.