The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-06-14
LEGITIMATE TRADE GOOD
NEITHER LARGE
= NOR ENTHUSIASTIC.

A Decline in Exports and q Moderate
Increase in Imports-The Flow CT
Currency This Way Sufficient to
Supply the Lisfket-Improving Crop
Prospects Having a Good Effect.
New YORK, June l3.-R. G. Dun &lCo. S
weekly review Of trade says: "Spscule-
tion has been neither large in volume nor
enthusiastic in tone during the past week,
but the legitimate business of the country
continues unprecedented in volume for the
season. and highly encouraging in pros
poets. Although the treasury has taken in
$50. 900 more money than it has disbursed,
and foreign exchange, apparently
owing to decrease OF sales Of
American securities and Stacking Of exports,
has advanced about cent during the week.
the current rate for money on call has de-
clined from 70 Al per cent. There has
been quite a decline in exports from New
York for two weeks past, the value having
been IA per cent. below that Of the same
weeks last year, while in imports a moder--
ate increase continues, last week being 5
per cent. But the flow of currency to this
country supplies the demand and makes tho
market easy, and confidence in currency
expansion by legislation is unabated. In-
terror cities report rather more demand for
money.
CROP PROSPECTS HELPING.
"The crop prospects begin to rule all mar-
kets at this season, aud these are distinctly
improving. The government report was
more favorable than was expected, aud. in
spite of the extravagantly low estimates
put forth by speculative statisticians. wheat
has declined 1sS cents, oats cent and corn
Is cent.
"The cotton prospects have much i'm
proved with favoring weather, and the most
reliable authorities now reckon the condi-
tion as satisfactory. with reported increase
of 2.67 per cent. in acreage. The price has
again declined Is cent for export.
"A better demand for refined sugar Is
alleged as the reason for an advance Of "
cents in the price, but other reports in
dictate that the dealers are not buying freely
at the high prices.
THE IRON MARKET.
"The capacity of the iron furnaces In
blast June was 1s0, 795 tons, against 180,1
900 May /, and 137, 10 tons year ago. ID
seems scarcely credible that the actual con-.
sumption can be 81 per cent. greater than
year ago, and yet the tone OF the
market is fairly confident,
and does not indicate material aocumula-
tion of stocks. The eastern makers are said
to have checked the incipient advance in
prices in order not TO establish a market for
southern aud western producers to unload
on. The demand tor various forms Of man.
ufactured iron and steel is still good, prices
steady and sales of 10000 tons OF rails are
reported, with $3I quoted at the eastern
mills.
THE WOOL MARKET DULL.
''The wool market has been dull No inn
provement is seen in woolen goods, though
dress goods are in fair request here and the
stocks of light weight cloths are small
Flannel mills are generally cutting down
production.
Railway wars do not cease. On the
contrary, more cutting OF east-bound rates
appears, and speculative managers are sus-
pected of willingness to see lower prices.
"The prices Of stocks have been weaker,
though the sugar trusts has been put up
again with reports of large profits. The de-
lay OF the Senate finance committee in act
ing upon sugar duties suggests some uncer-
tainty, but in the main the House tariff bill
has been accepted by the committee,
and it is thought likely to be
passed without great changes The latest
advices about silver legislation suggest
greater possibility that the two houses may
disagree, the disposition toward free coin
age being strong in the Senate.
"The business failures during the last
week number for the United States 1876,
and for Canada II. For the corresponding
week last year they numbered Ia the United
States 226, and in Canada "a