The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-09-06
TRADES BOOM STILL ON.
BUSINESS NOT HURT By THE
WEEKS FAILURES.


The Speculative Markets the Only
ones Afected-Purchases OF Wool
Larger on the Strength OF Prospec-
tive Tariff Action Dry Gooos Moving
Well-Iron Manufacture More Hope
full
NEW York, Sept. 5.-R- g. Dun's
weekly review Of trade issued to-day says:
"Another large failure, that Of Sawyer.
Wallace & Co., came ct the time when the
effects Of the Potter-Lovell failure at Bos-
ton prove more disturbing than was ex-
pected. The New York house had been
sDeculating for advance in wheat and pork,
and the Boston house had been carrying
spectators in hides. 1t is not believed that
the joint effects Of the two failures will be
much felt in legitimate trades, but the
speculative markets are effected.
OTHER CONDITIONS ENCOURAGING.
THE other conditions are ali the more
encouraging. The treasury has announced
a second purchase of $50, 0O0, 900 of AIS. and
las disbursed during the week at New York
e.. 800 900 more than it has taken in; and
while the Bank Of France has lost nearly
81, 90 900 in gold, the other continental and
London money markets are undisturbed.
Foreign exchange here has risen from 81 IS
TO 81 85s<, but toe money market is fairly
supplied on call at 4 per cent. aud there Is
no unusual pressure in the commercial loan
market.
THE WOOL MARKET.
1.-The prospect of speedy action on the
tariff bill in the Senate ana considerably
better sales by clothing dealers have
made wool manufacturers more hope
full, and the purchases Il wool are larger at
Boston, reaching 100000 pounds. But
concessions have heen made to secure sales
on many grades, the money marke. press
ing, and it is NOTICED there and at Philadel-
phia that buyers act still with great eau
ton
DRY GOODS MOVING WE'LL.
"The dry goods trade ia decidedly larger
than last year, with a better movement of
heavy weight wooIens and full orders con
tinuing for low grade goods. In cottons the
demand is full aud prices are well sus-
tanned.
Iron manufacture is also more promis-
ing, the demand for bar plates, structural
and sheet iron being very active, while TO-
600 tons of rails have been sold, the quota
tions for early delivery being S3l, but pig
iron is kept low by the heavy supply, aud
at Pittsburg is quoted a shade lower.
TRADE ACCOUNTS ENCOURAGING.
The accounts Of trade from all parts of
the country are encouraging this week At
Philadelphia the liquor trade is active,
chemicals are in fair demand and drugs aud
tobacco quiet, but business in dry goods de-
cidedly exceeds last years. The paper and
printing trades are satisfactory and collec-
tions improve. From Jaconvile there come
brighter reports, and at Savannah business
is brisk. the receipts of cotton for the week
being 81 - o bales.
AN EASY MONEY MARKET EXPECTED.
at is the prevailing belief that the sec
ond offer by the treasury to purchase bonds
insures fairly easy money market for the
fall. The volume of money in circulation
increased 1890, 900 in August. and is
S45, OOO, 900 greater than year ago. But it
is not t. be forgotten that the interior
money markets are growing more stringent
as the extraordinary demands arising from
the unprecedented volume of business is re-
allied.
TRADES INCREASE.
TRADE, in all branches taken together, is
certainly more than 10 per cent. greater
than at this time last year. exclusive of
speculative operations, about 5 per cent. of
the increase being due to the advance in
prices since last year, and the rest to an in
crease in the quantities of products trans
ferred. Though commercial credits appear
to be unusually healthy, a few failures aris-
ing from speculation may cause some dis
turbance.
"The business failures for the week num-
Der for the United States 167, and for
Canada 36, total of 203, against 1S9 last