The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-11-29
TRADES HORIZON HAY.
COMMERCIAL LOANS HARD TO
OBTAIN.

Banks end other Lenders HANGING
on 70 Their Cash Speculation Re
wing 70 an Unhealthy Eztent-The
Reports from the south Less Encour-
aging on Account Of Tight Money.
NEw YORK, Nov. pr G.. Dun &
Co.'S weekly review Of trade. issued to-day,
says: "The past broken week has not i'm
proved the business outlook The difficulty
OF obtaining commercial loans increases, not
here only, but at most other points. Banks
and other lenders, from the
largest 70 the smallest, appear
70 have been induced by recent
events to strengt hen themselves. Merchants
have grown more cautious about extending
obligations, or making purchases which
can be deferred, apprehs0ding that retail
buying may be cut down somewhat by the
reduced ability Of some consumers, and by
the disposition Of others to economize n
view OF the extensively reported advance
in prices.
UNHEALTHY SPECULATION
Meanwhile speculation has been reviving
70 an unhealthy extent in some directions
on the theory that the troubles are over aud
things will improve. The money markets
are thus loaded with increased demands for
carrying securities and products at a time
wnen trade especially needs more
liberal supplies. At most OF TIE
interior markets money grows more
stringent, and the scarcity begins to affect
trade at important centers, though tn vol
ume OF business is still very large. Money
Is quiet at PIttsburg, at to z per ca ut. but
Bessemer steel is so cents lower, nd the
demand for finished iron is smaller.
SOUTHERN REPORTS.
southern reports are less encouraging.
money Is in sharp demand at New Orleans,
the movement being unprecedented: ex-
ceedingly tight at Savannah, with the com
mercial prospects less bright; more timid
at Atlanta, and in Western Florida
short crops and embarrassmeDts of
merchants cloud the prospect But at Bal
tlmore money is easy, manufactures active
and the retail trade improved, though the
]oooing trade slackens. The setback in
wool at Boston averages cent less on de-
LANES and combings, but more on other
kinds Wooden manufacturers have lost
the nope OF obtaining better prices for
goods.
COTTON MANUFACTURE
Cotton manufacture is fairly main
tanned. Uncertainty in boot and shoe trade.
on account Of the reaction in leather.
causes reduced shipments. The week has
trade. and the tone is weaker, there is ap-
prehenslon OF forced sales by some southern
furnaces, and one large transaction at $40
for gray forge Ia reported at Birmingham.
Rail purchasers DID of and there is a visi-
bic decrease In the orders for finished
products.
SPECULATIVE MARKETS LIVELY.
But the speculative markets have been
advancing. Wheat has risen exc, corn
21Sc. and oats 4Ac., lard 15c. Der 100 |
pounds and coffee Hc., pork being un-
changed and oil 1c. lower Cotton has also |
yielded sixteenth, 10 view Of the crop
prospects.
I'm the stock market the strong rally of |
last week continues, prices having been ad- |
vanced "a per share since the break, and the |
proposed new railroad alliance and con- |
solicitations are counted upon as if there |
we're no chance of unfriendly interference |
by western legislatures. There Is already |
heard as stimulus to speculation much |
talk of the passage Of bin for the free |
coinage of silver at the next session.
TREASURY OPERATIONS.
1.-THE treasury has not been able to give
any assistance to the money market during |
the past week, but has put out 81 800, 900 |
more silver notes, nearly balancing the net |
Withdrawals of s1,S00,00O other money |
from circulation. There is at present no
fear of disturbance from abroad, as the |
funds in the Bank of England increase |
rapidly and the rate Of. sterling exchange is |
maintained.
The business failures for the week num- |
Der I'll, against 210 for the corresponding |
week of last year"