The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-01-11
BUSINESS DISAPPOINTING
BETTER THAN LAST WEEK, BUT
NOT UP TO EXPECTATIONS.

NOT UP TO EXPECTATIONS.
Widely Prevalent sickness to Some
Extent Responsible-The Financial
Condition Slightly Improved -Ex-
ports and Imports Fail Of-Iron in
Doubt.
! New YORK. Jan. 10.-R. G. Dun & Co.'S
weekly review Of taade has the following:
A larger money market and colder
weather have helped business some but it
cannot be denied that the opening trade Of
the year has thus far been a little disap-
| pointing. For this widely prevalent
sickness is TO some extent responsible,
as 1t interrupts the operations of buyers
aud sellers in every direction, and lessons
retail trade, except in drugs In other
branches business has been fairly active,
but not up to expectations, though the pre-
vailing belief is that the slackness is only
temporary, and that large business is to
be expected soon.
THE FINANCIAL CONDITION.
Large payments by the treasury have
much relieved the money market, the ex-
cess OF disbursements over receipts during
the past week having been s., 900 600 But
a remarkable movement in foreign ex-
change, which has risen from "a "a to "a sd
| during single week, tends strongly to iu-
crease the impression that the advance in
rate by the Bank of England TO per cent,
and the refusal Of gold bullion for export
| by that bank have started considerable
realizing on Americas accounts by foreign
holders. The possibility Of gold exports at
no distant day is, therefore, discussed.
IMPORTS AND EXPORTS.
Imports and exports have both fallen or
| much since Jan. !, and while either change
may be but temporary, there are some
| facts which point to different conclusions
Cotton exports have been remarkably heavy
for three months, and are now falling be-
| hind last years, a change which is natural.
and must be expected to continue. The
movement of wheat has not been large
in December, with prices comparatively
low, and can hardly be expected to increase
much with higher prices. In general, the
| foreign demand for American products
must have been to some extent sati fled for
the present by the unprecedented exports Of
| the past quarter. On the other hand, specu-
lative disturbances at London and Berlin
render it probable that some realizing on
| American investments may be forced.
ana the action of the Reading company
| Is likely to cause distrust. After the ofi-
cial announcement that interest would GER
| tainly be paid on first preference bonds
the committee unanimously reports that no
| interest has been earned or can be paid It
would not be strange II dissatisfaction
| with American securities should be much
increased by such an experience, as this is
one of the most conspicuous of all foreign
investments.
| LESS FAVORABLE REPORTS.
Reports from other cities are little less
| favorable. Comparative dullness in De-
| cember was expected to be followed by
activity after New Years, and there is some
| disappointment. Respecting money and !
collections the situation Is about as last re- 4
ported. In general, the interior markets |
| appear only fairly well supplied, notwith- |
standing large amounts Of money sent west !
and south during the past four months.
No important change is seen in the great
| Industries.
COTTON AND WooLEN GOODS FIRM.
Cotton continues to do we'll, and woolen /
| goods have opened at last years prices, but |
as yet without specially satisfactory indi- |
| cations
IRON TRADE STILL IN DOUBT.
The iron trade is still in doubt whether /
| the heavy increase in production has been
| matched by the increase in consumption |
and while the prevailing opinion favors1
| higher prices, it may be noticed that moder- (
ate lots are occasionally offered below cur
rent quotations, while in bar iron the feeling /
is less confident of late. In rails the move-
nent is not very active, and no sales of rails /
are reported. Undoubtedly the enormous
building Of last year sustained the iron |
trade At New York and Brooklyn the
| value of new building was $95, ,000, 600,
against $70, ,000, 900 in 1888, and at Philadel3
phia the number was 9,432, against 1875 inj
| 1888, but constructing at such a rate cannotl
be expected to continue.
COAL DULL.
The coal trade remains dull and Affects
prices of coal stocks, though the averagei
for active stock is about 80 cent. per sharea
higher than week ago
Sugar trust stocks have been pushed down
to about 80, Notwithstanding higher prices
for raw sugar.
BUSINESS FAILURES.
The business failures occurring through
out the country during the last week num-
Der, for the United states, 334; for Canada,
80; total 373 failures, against 322 last week,