The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-12-07
TRADE PROSPECTS FINE.
NO DISTURBANCE CAUSED By THE
GREAT FIRES.

Every Other Event of the Past Week
Added to the Prevailing Confidence.
The Business Of the Country Larger
Than Ever Before, and Crops Unpre-
cedentedly Large.
NEW YORK, Dec. 6.-R G. Dun s. Co.'s
weekly review of trade issued to-day is as
follows:
No disturbance appears TO have resulted
as yet from the Lynn and Boston fires, and
free offerings Of bonds to the treasury make
the monetary prospect clearer. In all other
RESPECTS the events of the past week have
but added to the prevailing confidence in
the future of business, and the opening of
congress, with the annual message and re-
ports, have decidedly an encouraging infiu-
ence.
The reports of business indicate some
falling off at the west, but nearly all re-
ports indicate that business is satisfactory
for the season. Pittsburg notes an improved
demand and higher prices in iron and in
flint glass, window being unchanged.
The situation in the great industries is
especially significant. In spite of the I'M
precedented supply of iron, there seems to
be an actual scarcity in Philadelphia, and
some sales of No. at Sl9 for 1890 delivery
are quoted here. Buyers hesitate and sales
are not large, but there is a strong under
tone, and at Pittsburg an advance of 25
cents to 81 per ton. Bar iron is more irreg-
ular and while rails are stifflv quoted at $35,
no sales appeared, but one offer is reported
by an eastern mill at $34.
WOOL DEALERS MORE CONFIDENT.
Dealers in wool are also more confident,
and at Boston improved prices were realized
for combing and delaine. The sales were
3,172,000 pounds, and manufacturers are
more encouraged as to the goods market,
believing that good demand may lead to
some advance in prices later.
Boot and shoe manufacturers continue
remarkably prosperous, though compare
lively few of the burned-out producers at
Lynn are vet ready for orders.
Another large branch of industry which
has been doing unexceptionally WE'LL is the
building trade, and well sustained markets
for all materials result. especially for lum-
Der, structural iron, nails and glass.
The speculative markets for products
have been strong, but not very active.
Wheat is Is cent higher, with sales here of
44,000,000 bushels, and corn as much higher
with sales of 100000 bushels. Oats are a
shade higher; pork produts steady, and
still exceeding last years. Coffee has
dropped "a cent, with greater confidence in
Brazilian peace, and oil cents with small
trading.
Another advance of one-quarter cent. is
seen in raw sugar, without change in re-
fined. and the first deliveries for the new
Spreckels refinery were announced yester-
day. The general tendencies of prices is
still upward, the rise since Nov. 80 having
fant he Of I for
commodities.
IN THE STOCK MARKET.
In the stock market there was serious de-
preston at the end of last week, aud on
Monday, but since that time there has been
some recovery, with considerable foreign
business. At the lowest, prices were nearly
81 per share below those of Nov. 81, but
aOout half of the loss has been recovered,
and the average is still nearly S. per share
higher than year ago. The earnings OF
railroads continue remarkably large for
November, exceeding those of last year by
nearly ID per cent, and the statements of
the net earnings which appear are
equally encouraging. But there is
scarcely any activity in the market, and pro-
fessional operators who loaded up month
ago have found tight money an obstacle,
and much of the past weeks depression was
due to fears regarding withdrawals of gov
eruIn6nG uepOSlbS from UdnkS, Dub II Is now
certain that no disturbances can result
from the gradual measures adopted.
FINE OUTLOOK.
With the business of the country larger
than ever before at this season of the year,
with unprecedented crops, as yet but
partially marketed, and the certainty
of large consequent demands for products
which the farming states purchase, and
with an abundant supply of money in cir
culation. and foreign exchange so low tina
gold imports are already rumored, the bust
ness outlook is more encouraging than
usual. It is more encouraging because
speculative activity of late has been much
depressed.
The business failures occurring through
out the country during the last week num-
Der for the United States 271, and for
Canada As; total of 316, against 249 last
week.