The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-12-27
MONEY TO BE EASY SOON.
THE TIGHTNESS EXP ECTED TO
CEASE AFTER NEW YEARS.


The Holiday Trade Reported Heavy at
Nearly Every Point Railroad Earn
ings Increased as Compared With
Year Ago-The Exports From New
York Heavy.
NEW YoRK, Dec. 26.-R. G. Dun & Co.'S
weekly review of trade, issued to-day, says:
"Business has progressed as well as could be
expected in week broken by the Christ
mas holiday and great snowstorm. The
holiday trade was remarkably heavy here,
and at nearly all other points was good.
which is by no means evidence that the
tightness Of the money market springs from
auy general embarrassment Of business or
industry. The volume Of payments through
the banks continues larger. though but
about per cent. larger than year ago.
The railroad earnings thus far reported for
December also show gain Of about per
cent over those Of the same weeks last year.
FOREIGN TRADE HEAVY.
''The foreign trade is very heavy, in spite
Of the causes which were expected 60 insure
material decrease. The uncertainty in re-
gard to monetary legislation, and It's pos
sible effects, is still the great obstacle, but
even this has a less disturbing influence than
1t had week or 30 ago, as the prospect of
unwise action seems more remote, aud the
money markets have generally grown easier
during the past week, not only at the east,
but also at the western and southern CEN
tiers.
"Reports from other cities disclose no inn
portant change in the condition OF trade,
though at Pittsburg Bossemer iron has sold
at sl6 23 the lowest price for the year. aud
all pig iron IL at bottom prices. Manu-
factured iron Is in fair demand and rails are
unchanged.
IMPROVEMENT EXPECTED.
"At points further west the expectation
Of Improvement after Jan. / Is general,
though trade Is quiet in Wholesale lines, but
fully up TO last years mark At other
points in the northwest the monetary sltua-
tion seems rather better
"Reports from the south indicate some
Improvement. Trade at Atlanta improves,
cotton Is moving more satisfactorily, and at
Galveston the receipts exceed last years.
New Orleans reports fair trade, larger
receipts Of cotton, tho crop being there
estimated at 100000 bales, and good
receipts Of sugar and molasses with steady
prices.
CoTToN's LOW PRICE.
Throughout tho south the fictitious
cotton have caused some embarrassment.
being followed by the inevitable decline as
the magnitude OF the crop becomes known.
But more than 8, 000, 600 bales have already
passed out Of the hands of the producers,
mainly at fair prices. It Is especially en-
couragiug that thus far there have been SO
little embarrassment aud 50 few failures
among important manufacturing works re-
Gently established In that section.
STEEL RAILS.
"In tho steel rail business crisis and de-
structive competition seem imminent, the
provisional agreement made during the past
week IN this city having been defeated by
the refusal of an eastern mill TO sign.
"Woolen manufacturers clearly enjoy q
larger demand for most products, since inn
portations were checked, but as yet no con-,
siderable improvement ia prices has been
found practicable.
"The adjustment Of prices In tho boot
and shoe and leather industries seems TO be
progressing fairly, with less prospect Of any
serious embarrassment.
ION the whole labor has never been more
| fully employed than in the latter part OF
1890
MONEY EASIER.
"The monetary situation grows more
| satisfactory, because the treasury disburse-
| ments continue and arrivals of gold have
| given aid, and tho enormous excess OF mer-
chandise exports over imports is felt. In
| the three weeks of December the exports
from New York have been per cent.
greater than last year, which would indi-
cate heavier exports than in any previous
month, while the increase in imports has
been but per cent. These facts point to
an excess OF exports as large as $37 200, 900
Of last December. and In November the ex-
cess Of exports over imports was more than
s25,000,0O0.
sPECULAToRs LAYING Low.
"There has not been much activity in
| speculation this week, though corn has
fallen "a cents, and oats l cent and cotton
3-l6, but wheat is "a higher, coffee
| u, aud oil AZ cents higher. The
stock market has been left to
the professionals, who have chosen
20 do but little until the new year has be-
gun. 1t is by all classes believed that the
monetary pressure will cease soon after
Jan. /, at least for time. and II no dis
turbing legislation comes trade may be ex-
pected 10 revive with vigor.
"It is a good symptom that instead Of in-
creasing toward the end OF the year the
failures have become less important and
less frequent The failures for the week
number 303. For the corresponding week.
| OF last year the figures were 262"