The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-07-13
EVERYBODY TO GET RICH
BUSINESS PROSPECTS BRIGHTER
NOW THAN EVER.

July's Crop Report en- Assurance of
Large Yields all Around-Railroad
Agreements That Point to an Ad-
vance in the Price OF Stocks-FaiI-
ures Only Normal.
NEW YORK. July l2.-R. G. Dun 81 Co. 3
review of trade for the past week is as fol-
lows:
Substantially oil the news this week has
been favorable 20 the business prospects.
Inc official crop report for July was not
only an assurance of large yield, but evil
dence that the reported injuries to wheat,
cotton and corn had not been as seri-
ous as many believed. The gold exports
were stopped by a slackening Of foreign de-
mand and decided Improvement here in
offerings Of commercial bills. The treasury
put out money moderately, and the de-
mand from the interior has been met with
out change of rates here. Railroads made
great progress, apparently, toward a set
tlemont OF their controversies, and the
stock market took an upward turn Thurs
| day.
SPECULATION IN COTTON.
Speculation In cotton was not helped by
the crop report nor by the embarrassment
OF Liverpool operator, who had also taken
too much sugar and lost thereon, but closed
one eighth higher for spot with sales of
| 2l1 900 bales.
Coffee partly recovered from the late de-
chns, aud tho sales reached 362, 600 bags.
but doubt aS to the interior demand for con-
sumption is as chilling as ever.
FORK products have been weaker but
without great change.
The average Of all prices OF commodities
has moved upward 4 per cent. during the
week
The reports from the interior towns show
that while the usual midsummer duliness
prevails, and at some points is even greater
IMAM usual, confidence in an early and largr
tall trade grows stronger,
MONEY EASY.
Collections have improved where there
| mad been most complaint, a the latest ac-
counts are more satisfactory than usual
The money markets are fairly supplied.
and at nearly all points easy with only
moderate demand. The indications point
10 some monetary pressure this fall, unless
the treasury succeeds in disbursinR
tre0ly. The great industries are,
on the whole, in better shape, though
some signs of danger are discoverable. The
weekly output Of iron, July 1, was 141 All
tons, an increase of 4300 tons, the furnaces
temporarily stopped by the Johnstown
disaster having resumed, and it is known
that other furnaces OF considerable aggre-
gate capacity will soon resume, but the
market is clearly stronger, and some
southern pig recently offered in vain at
| &lb % has beon sold at ST. .
RAILS IN BETTER DEMAND
| Rails are ia better demand, with rumored
sales amounting 10 84, 900 tons, and S29 is
now the bottom price. But the great strike
at the Carnegie mills, accompanied with
violoRce at the very outset, may lead to ex-
tended disturbance Of this industry.
Wool is unchanged in price at the eastern
markets, but the persistent conservatism of
manufacturers, who are buying only for
immediate necessities and running only
part foroe, begins 10 have its effect and
weakening abong Ohio holders ia reported.
Coal is irregular In price, but the oper-
ators are confident, and the demand seems
70 improve.
STOCKS A FRACTION HIaHER.
The stock exchange has been strengthened
by very favorable accounts of neg citations
between railroad managers, who appear to
have settled the difficulties as to the
eastern trunk lines and to have
made some progress toward an
amicable adjustment of the western
controversies. The average of prices is a
fraction higher than a week ago, not in
Guiding trusC stocks which have caused
another sensation by the disclosure Of the
amounts outstanding. The information
that ss3, ,0o0, 900 Of lead trust stocks, $780,
100000 Of sugar, $42, 100000 of cotton oil,
S3l, 100000 OF whisky, and S13, ,000, 900 of
cattle trust, were outstanding, caused a
break in lead, and some sailing in others.
NEW RAILROAD TRACKS.
It was also made known that the railroad
mileage completed for tho half year was
but l. 40 against 1850 for the first half of
1888. The exports Of cotton for June were
in value only 81, ,746 against s., 1887, ,325
FOR the same month of last year, but for
the two weeks of July all exports from
New York show an increase Of 20 per cent.
over last year, and the weakening of specu-
lation in wheat is also favorable sign as
TO the monetary future.
The business failures occurring through
out the country during the week number,
for the United States 1911, and for Canada
Is. a total of 200, against 202 last week.