The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-02-22
TRADE STILL HOLDS UP.
SEVERAL SIGNS OF IMPROVEMENT
DURING THE WEEK.

Cooler Weather has Helped Some
Branches-Wheat Stronger and a
Firmer Tone in Eastern Iron Mar
kets-The Country's Foreign Trade
! Not as Good as it Was TWO Weeks
Ago.
NEW York, Feb. CIR G. Dun & Co.'s
review Of trade for the past week is as
follows:
While the prevailing impression in bust
ness circles is rather less confident than it
was week ago, there were several signs of
improvement. Cooler weather has caused
a little more activity in some lines Of trade.
Wheat is little stronger, and there is
irmer tone in the eastern iron markets,
while a reduction in the Bank of England
rate from to 5 per cent, with its large
gain of $4.S15,CO0 gold during the past week,
diminishes the chance of lnconvenient de-
mands from abroad.
GENERAL TRADE.
On the other hand, general trade is not
increasing in volume or in profits, and while
it, soUndness is indicated by the occurrence
o fewer failures than many expected, as a
result Of the pAenomenally unreasonable
weather, complaint Of SLOW collections IS
common and rather increasing Clearings
through the banks at New York fell below
those for the CORES bonding week last yea
So per cent. at Boston, Philadelphia and
Chicago together the increase was hardly
per cent, and at all other cities only about
4 per cent. which Is a considerable decline
from the recent rate of gain.
At Pi'tSburg iron is weaker, becau7e of
increased southern competition, with a
duller coal trade, but business in glass is
good.
THE FOREIGN TRADE.
The foreign trade of the country is not as
favorable as it was two months ago. The
extraordinary outgo of cotton has passed,
and the exports in January show an increase
in that item Of $l,50J,000, and il ali the
principal items of about S2000,00O, which
indicates an excess of exports over imports
Of about $4,000, 900. In the three
weeks of February the exports
from New York show scarcely any increase
and imports an increase of only 3 per cent,
Indicating thus far an excess of imports
The cotton exports this week have been
$1,000 bales larger than a year ago, but for
the month thus far 10000 bales smaller, but
speculation has pushed prices still higher
by l-16 cent.
THE IRON MARKET.
It is difficult to account for the better
tone which clearl " exists in the iron market
here and at Philadelphia, unless it he due to
a hope that southern iron, which is now
moved from Sheffield at 81 % per ton to
Pittsburg, and selling there somewhat
largely, may hereafter effect western
rather than eastern markets The production
has been so large that serious question
exists as to the adequacy of the demand,
and yet the resumption of work at the old
wages by the striking cal miners in Ala
bama will put three large new furnaces
into operation speedily. For Bessemer pig
there is no demand il Philadelphia. The
bar market is not satisfactory, plate and
s,ruc ural mills are still busy on old orders.
but doing little new business, and there are
reports of steel rails offered at less than S35
per ton.
Cotton manufacture is active, but must
soon feel the high cost of the material.
GOTHAM's MONEY MARKET.
The local money market has been easy at
unchanged rates, although the treasury has
taken in since last Saturday 81, 400, 900 more
than it has paid out, and interior exchanges
with some cities are adverse 1t is hardly to
be expected that the banks will be able to
gain in strength until April, but decline in
foreign exchange to "a S64 puts further
away the possibility of gold exports.
Tne business failures occurring through
out the country du ing the last week num-
Der for the United States 800 aud for Can
ala Al, a total of 271, against 302 last week.