The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-12-28
TRADE MUST HAVE COLD.
NO DEMAND AT ALL FOR CLOTH
NC AND COAL

sales of Dry Goods Also Falling on
at several Points = The Holiday
Business Large at Nearly Every
Foint-The Iron Business Continues
Prosperous
New YoRK. Dec. 27.-R 6. Dun & Cas-
ravSe.x of trade for the past week Is as
follows: "a pause in business is usual at
The cad of the year; but this year the IN
sessousole weather and much pressure Tor
money collections makes the dizziness border
on depression. While the prospects for the
future are generally regarded with great
confidence, the present state OF trade Is not
quite satisfactory, and in some quarters
deav in collections causes fear Of CONNER
cisl em5ar-aSsments This is moro particu-
larry noticeable in the clothing and furnish
in-trades at Philadelphia, and in many lines
Of business at Cleveland, Detroit, and Nil
waukee Sales of dry goods are also falling
of at Chicago, though payments are re-
p5rted good The clothing trade there is
dun. and the shoe trade quiet. But at
western points, with scarcely an exception,
oI,en weather and the bad condition of the
ceuntry roads are noticed as causes of IN
usually slow collections. In other respects
rory.
THE HOLIDAY BUSINESS.
''The holiday business has been large at
early every point, though affected by the
weather ct Detroit.
The movement of grain at Chicago con-
IA nues equal to that of last year 80 date,
18th an increase of 80 per cent. in lard
products
SAT Philadelphia, where there is unusual
l. h01sI
rticles and wool and cotton, business Is
dull, and coal much depressed. The grocery
trade reports a prosperous year, but very
light sales at present
''At Boston all wholesale trade las been
quiet, but some retailers report holiday
sales ahead of last year. Wool is inactive
bat steady, and hides leather, and boots
and shoes moving fairly at unchanged
prices
WEAK POINTS OF THE SITUATION.
tThe weak points of the situation are
those trades which are most affected by
two successive mild winters. The anthra-
cite coal trade is stagnant in the absence of
demand, and the situation is almost with
out precedent Mere than half of the Read
ing coal mines have close1, throwing 5000
miners out of work, and it is stated that
10000 miners are working on three-quar-
tiers time. The bituminous coal trade is
relief in. the wooden goods business can be
expected until the long delayed cold
weather has caused a well-seasoned de-
mand, and the clothing business in all parts
of the country necessarily depends, to great
extent, upon the weather. To greater or
less extent many other kinds of business are
disturbed and sometimes put TO a strain by
the absence of demand incident TO the sea-
son, and In all quarters delay of collections
is felt
THE IRON BUSINESS.
son the other hand, the iron business
continues to prosper, though sales of pig
are not very large. Prices are very firm at
PHILADELPHIA, and $40 80 is quoted here for
No. ]. Sales of 81, 900 tons of steel rails are
reported, with the price steady at S35. east,
and $50 D at Chicago. Bar iron is firm at
2 cents, and the confidence in the future is
In all branches OF the iron and steel bust
ness undiminished.
'In speculative markets there has been
little change, except in corn. which has
dropped 215 cents, with sales of II 900 900
bushels. Coffee is 4 cent higher Cotton
is steady, with small sales, though the ex-
ports again exceed those of the correspond
ing week last year, and the receipts are
nearly the same. The belief in a very large
yield grows stronger, but also faith in a
large increase in the foreign consumption.
TIGHT MONEY.
flight money continues here and at
Philadelphia, but relaxation is to be ex-
pected after the January disbursements.
These are expected to give at least tenn
porary ease. The November exports, &C
cording to official reports just completed,
exceeded the imports by the unprecedented
sum Of S34, 65S, 716. and at New York, in
December the exports show decrease of 81
per cent, while the imports increase % per
per cent, but even at this rate
the excess of exports for the whole country
would be over $4,000, 900. The treasury is
SO conducted as to sustain the money mar
ket as easy as practicable, and s., 200. 600
has been paid out in excess Of the receipts
this week, but the movement of $40, 700 900
IN cash from the treasury and banks to the
west and south since August makes the
present stringency by no means surprising.
''The business failures throughout the
country during the last week number for
the United States 249, and for Canada 80, a
total of 2ss, against 342 last week"