The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-07-12
TRADE FAILS TO WILT.
SUMNER BUSINESS BETTER THAN
IN ANY PREVIOUS YEAR.

High Hopes Stimulated IN all Quar-
ters by xcellent Crop Reports he
Failure TO Finally Dispose Of the
Tariff Bill Causes Uncertainty in
Some Lines of Trade.
WASHINGTON, July 1.-The weekly re-
view of trade of r. G.. Dun & Co, issued
to-day, reads as follows: I'm spite of the
usual midsummer dizziness, aggravated this
year by exceptionally hot weather, the vol
ume of business continues larger for the
season than in any previous year, and in all
quarters high hopes are stimulated by
excellent crop reports. The passage of the
compromise silver bill by the Senate helps
to give encouragement. though the
delay of action on the tariff ques-
ton depresses some important industries.
Large exports of gold have begun,
however, owing TO the suspension of specie
payment in South America, and urgent
demands in that quarter for commercial
necessities. The banks of England, Ger
manv and France have lost this week
s., S95. 900 in gold, and it has been decided to
call over s., 900, 900 gold from this country,
making the prospect less clear than it has
been, though rates here are comparatively
steady
IMPROVEMENT IN THE NORTHWEST.
From many northwestern cities special
| reports show distinct Improvement in trade
because of the crop prospects, yet the prices
Of wheat, corn and oats have advanced,
while cotton is unchanged. Hogs and lard
are higher but oil Ia cents lower
The more important branches Of manu-
| facture show hesitation.
THE wool receipts are large at Boston, but
manufacturers do not buy freely. and the
sales are 2, lis, 900 poulds. AT Philadelphia
dizziness reigns aud western markets are
weaker, though still too high for the views
Of most manufact lrers, No chance is seen
for improvement in the prices of goods, aud
heavy imports are expected to keep prices
down for the rest of the year.
THE IRON BUSINESS.
"In the iron business the buoyancy au-
ticipated at Philadelphia does not appear;
and here pressure to realize keeps the
market weak, with northern No. l foundry
at Sl7 so and southern at Sl7, and mill iron
especially weak. Rails for fall delivery
are quoted at S3l, and while the mills have
orders for some time to come, the present
demand for finished products is not large.
Coal is dull and weak, the recent ad
vance being principally on paper and the
half years output being within 1000 tons
of the output last year.
hOFEfUL REPOhTS.
THE reports from all quarters are hope
full Midsummer dizziness prevails, at Bos-
ton increased by monetary stringency, and
at Philadelphia and Pittsburg by the fact
that higher wages have been conceded to
iron workers, though higher prices for
products do not seem obtainable
THE glass works are closed at Pittsburg,
but stocks are moving fairly, and scarcity
of miners is felt in the coal business there.
RAILROAD TRAFFIC.
THE traffic of the railroads is still very
large-for the last week of June about s
per cent, and for the month about II per
cent. above last years, while few reports
for July show still larger gains. The
action on the silver bill caused
a stronger tone, and it is observed that in
spite of their wars the railroads have not
been swelling the list of bankruptcies un-
usually, the receiverships for the half year
covering but Sal, OO0. 600 of stocks and bonds
of $50 miles, while the foreclosures for the
half year last year covered 1872, OO0, 900 of
stocks and bonds and $50 miles of road.
The steady growth of the country is
illustrated in the national bank reports,
showing an increase since 1880 of Is per
cent. in the number Of banks, 81 per cent
in deposits and 80 per cent. on loans
"The business failures for the week num-
Der for the United States 175 and for
Canada % total of 1877, against 1893 last
week.