The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-09-21
TRADE PROSPECTS GOOD.
SPECULATIVE OPERATIONS THE
ONLY ONES UNPROFITABbE.

Stocks Fail to Maintain Their Recent
Advance and Relapse into DuIness
Speculation in Cotton at a slightly
Lower RANGE - Unprecedented Ex-
ports of Cattle ana Dressed Beef
New YoRK, Sent. 20.-R. G. Dun q Co.'S
weekly review of the past week, says:
Throughout the country the state Of bust
ness is encouraging. AMI ths only dis cart
enins feature are IN conuectloa with specu-
iative operations. Stocks have not quite
maintained the recent adva ice, and have
relansed into dullne-s, WITT sales of les than
100000 shares for the week, ghe chief cause
being the western railroad wars.
Speculation in breadstufFs and
cotton have been at a slightly
lower range Of prices with but moderate
transactions, and slackness Of consumptivs
demand causes a weaker tone in the coffee
and sugar markets without a material
change in prices. Oil speculation is a shade
stronger AMI provisions teady. The re-
ports from the cities this week correspond
fairly with the cleariugs outside Of New
York, which show an increase over last
year of about per cent. in the aggregate.
but an increase in only two-thiris Of the
cities
BOSTON CONSERVATIVE.
AT Boston a conservative feeling still
rules the money market, and business has
not wholly recovered from recent sett acks,
but is improving in wool. aud steady in
leaL her and lumber.
Az Philadelphia money is active, and the
lobbIng dry goods trade continues good.
The grocery trade improves exceeding last
years; tue paper ira le decidedly re- ives,
the liquor trade is ac.ive, d drugs and
chemi ais are IN 3rateiy active, but in
WOOL there IS very little movement.
AT CHICAGO.
At Chicago there is decline in the re-
ceipts of wool and Of grain, higher prices
for wheat leading farmers to hold back.
hut le sc increase in the provisions trade.
| The = ,sde In .ry goods and other merchan-
disc is quiet after the except nal activity
OF August For the year thus far trade
exceeds last years
Milwaukee reports a constantly improv-
ing US ness wi active money.
Kansas City report siness and collec-
tions as fair average for the season.
Cleveland rep lrt' increasing activity,
| especially IN iron aud ore 18th a prospect
| Of higher rates for money
AT o aaha great crops give good busi-
ness and c0llecti3ns
AT Pittsburg further Improvement Ia
n ID IN coal, with a resumption Of the glass
works at "a per cent. higher wages.
SOUTHERN REPORTS.
Southern reports al o are encouraging as
| to crop prospects and pre- ent rade
| Those specimeus illustrate the general
| tenor OF the reports, aud it may be added
that there is nowhere any strIngency In
money. the supply being ample for legiti-
mate needs AT New York the rate has
heen hIgher, but the damand FIR loans on
oLateral is amply supplied. On the other
hand, commercial paper IL If slow sale, aud
80" Janks are buving Foreign exchange
| has dropped half a cent, however and the
possibilities II GOLD exports appear more
remote, while tue merchandise exports for
three weeks exc5ed last years. by 80 per
cent, tho Increase in imports meanwhile
being but 3 per cert.
TREASURY OPERATIONS
The treasury, notwi hstanding gcanty
offers of bolds, has been SO managed that
its ac ual holdings Of casa are 5000. 900
lower than last Saturday.
Thus Tar tho New York banks have been
/ able to meet all demands from the interior
with ut disturbance, bug il is not forgotten
| tina. the demands are not ye: over, re sarves
are low d there is no present prospect Of
| supplies fr m abroad
Tue great ind stries appear 10 be Rradu-
| ally improving in coniitlon. While tha
| improvement is slow in wool manufacture.
| there is clearly more active demand at
| Boston, and the sales of wool ere this
| week are 3, 600 pounds, including some
| former sales just made public But the
| larger move nent, nainlv In fine washed
fleece, mas been secured by Concessions in
prices. The goods market il still d certain.
Jobbers hold considerable stocks made from
| cheaper Wool which have To be cleared Off
before the adjustment of the market to the
present p ice Of material Is possible. and
meanwhile pressure to sell may prevent an
| advance.
THE IRON BUSINESS.
| In the iron business the confusion in
crea es lsecause southern coke No. | foundry
is offered a. $l6 70 for delivery TO the O. q
| Janua y, while anthracite No | sells at
| $l7 to $lS, ana higher for spsci Il brands.
| But the consumption is enormous, and
seems about equal to the large production.
Largo contracts far stru rural iro in the
| Chicago and ST. Louis elevated railroads
have been taken iii Eastern Pennsyivania,
and the o ders for rails on tho bo ks Sept.
l we're l,i35 600 tons, quotations hire being
| still unc .ang d.
| Copper has remained dull, and thcugh
| 500 TO are reported on the way, spot
ia still quoted at II. ~ cents.
| The artial failure ofthe potato and fruit
crops and he iujIr to but or by recent
| STORMS cause an advance In price,, and tie
/ general average for commodIties is now
about PEI cent. higher than Sept |.
EXPORTS OF CATTLE.
The unprecedented moveme II of cattle
and fresh beef to Engla "a attrac.s much
attention, the exports haviny been over
81 900 head OF cat le d 10000, o 10 pounds
of fresh beef within the three M Mt s end
| ing with August, bssides "A 10000 0 lunds
OF cured or canned beef. With the
National S eamsnip Line engaged III trans
porting csttio rather than passengers, this
| movement seems lik iy to increase largely.
| And it is noteworthy that tbs export trade.
| though barely maintai ed In some npor-
| tant branches, steadily broadens by the
large increase in niner items not hitherto
| important.
! The business failures for the week occur
ring thr ughout the country during last
week nu nber for tbs U lice State III and
for Canada 81, g total OF lgS, against 1913
I last waak