The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-01-04
TRADEANDTHENEWYEAR
A CONFIDENT FEELING IN EVERY
PART OF THE COUNTRY.

business in Holiday GoSdS Probably
the Largest ever Known-stocks
Higher Than Year Ago in Conse-
quence of Better Earpings-Tha
Record of Failures.
New YORK, Jan. 3.-R. G. Dun s. Co.'S
review of trade for the past week Is as fol.
lows:
The new year opens with most confis
dent feeling prevalent in all parts Of the
country, and yet with some features which
suggest especial caution. The volume of
business, though little more curtailed than
is usual near the end of the year in tbs
wholesale and jobbing lines, was nearly il
not quite the largest ever known in holiday
goods, and, on the whole, close to the maxi
mum. True, in several important trades
the profits have not been Commensurate
with the mag gaitude of the transactions, and
slow collections have caused many failures,
with apprehension OF more in the near fut-
ure. The money markets are strained at
the east, close at Chicago, Cleveland, and
Detroit, and closer than before at Kansas
City and Omaha, but at other points fairly
supplied.
HEAVY SPECULATION ABROAD.
AOub boe duFduco III bue Ddnk OF n l&l6n0
rate, and signs of possible disturba ice, re-
sulting from excessive speculation abroad,
render the monetary outlook here less clear.
Heavy disbursements for terest and divi-.
dends, estimated at S66, ,2G4. 7l6 at New
York alone, nearly 6 per cent. more than
last year, " Ill doubtless give present relief.
The reports from other centerS OF trade all
show that the unreasonable weather is hav-
lug dep essing influence, but yet tho
weather reports are greatly encourag ng.
Inc chief industries are, On the whole,
usually prosperous. A fuller statement OF
the cotton mills dividends for 1889 indi-
Gates that they We're larger than in any
previous year of specie prices.
The leather trade has become hopeful,
and the consumption Of boots and shoes id
prodigious, but over-production pushes
prices too low for healthy profits.
THE IRON TRADE.
The iron trade pauses at this season, buh
prices are tirmer, and though sales at the
advance are scanty, as yet there is general
confidence that tue demand will prove
equal even to the Unprecedented supply
An open winter makes even restricted pro-
duction largely exceed the consu nption,
and the output for 1889 was but "a, $780, ,00I
tons, against 81 SOC, 900 in 1888, but btu
minous coal is in deficient supply for lack
OF transportation.
The combination Of the glass producers
has raised the price of wind w glass higher
than for the past five years, aid they exc
pect to make the business profitable
Copper is selling at IA u for lake, with
increasing consumption.
The wooden business is still cloud in the
sky. The stocks carried over at the CHIEF
cities prove to be 22.0O0,00O pounds more
tnan year ago, and the sales at Boston for
1889 we're 134,000,00O pounds, against 1867
0O0000 pounds for the previous year, de-
crease OF nearly 20,O0O,0OO pounds.
PRODUCE MARKETS.
The produce markets have been dull.
Wheat has risen Is cent with sales of $780,
000 bushels, and oats as much. but corn has
declined "a cents, with sales of nearly S,000,-
600 bushels
Oil is Is cents higher, but pork is so cents
lower. aud lard declines.
Conflicting estimates Of the Brazilian crop
make coffee q cent weaker.
Cotton is unchange |, with small trading.
The decline in the prices of all commodi-
ties from Jan. to Jan. l was about % per
cent, and the range Is nov a little lower
than in any previous January for thirty
years. The average for 1889 was 4.92 per
cent. below that of 1883.
The stock market was weakened by mon
etary pressure for the past two weeks but
the average Of prices is IS per share higher
than year ago. Larger earnings and div
lueHuS WOuiu luSUIy Iully tnaD alVauc6, IL
the prices of last year were not too high,
and the recent stringency, with considerable
selling on foreign account has caused but
little depression in railroad stocks.
The foreign trade continues heavy, tho
exports for the five weeks at New York
falling only 1.S per cent below those Of the
previous year, which indicates an excess OF
$20,000,000 or more in exports over imports
for December
pEooRD or rArTrrRFs
The failures in 1889 numbered 1882 in
the United Stales, or l in every 81 firms,
and 1.777 in Canada, or 1 In every 45 firms.
In 1888 the failures we're 1869 in the
United States, and 1,6T In Canada. The
aggregate Of the liabilities was S143. 7s4, ,33z
in the United States, against Sl23.629, ,973 in
1888, and 14,7l3, ,223 in Canad4, againsu
$14, ,0S1, 1863. But the average liabilities for
each firm failing was lower In Canada-$S,-
279 last year against 49, 396 in 1SSS--a ID an
increase in the United States, "a unfavorable
indication, was still not enough
to denote an unhealthy state of commercial
credits. for the average in 1889 was but
$l3,672 against S1l 500 in 1883, against ST..
379 in 1887, and ,632 in 1884
The business failures occurring through
out the country during last week number
for the Unite1 States 291, and for Canada
81, total of 322 failures against 28S last