The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-03-15
ABADWINTERFOR TRADE
NOW THE FLOODS INTERFERE
WITH DISTRIBUTION.

The Money Market Relieved by Treas-
ury Disbursements-The Volume Of
business stin Exceedingly Large
An Increase in Railroad Earnings
for February.
NEW York, March 14-R. G.. Dun &
Co.'s weekly review of trade for the past
week is as follows:
There was not enough winter to make
good the losses sustained by the restricted
demand for seasonable goods or to prevent
one considerable failure caused by the ar
rested distribution and collections, but
colder weather helped a little in many
branches of trade while it lasted. Now
the great floods in the Mississippi Valley
interfere with distribution and threaten
serious disasters On the other hand, the
money market has been relieved by treasury
disbursements. by another reduction In the
rate by the bank Of England, and by a
fall of three quarters Of cent in the rate
| OF sterling exchange. The volume Of busi-
ness continues extraordinarily large, at New
| York the ciearings exceeded last years by
8 per cent, at Boston by per cent. at
Philadelphia by 16 per cent, at Chicago by
| II per cent and at all other points by IS
| per cent.
INCREASED RAILROAD EARNINGS.
The increase in railroad earnings for
February was about 121S par cent. It is
| difficult at times to reconcile these proofs
OF large business with the expressions of
disappointment so often heard, unless it ia
! remembered that prices are low and the
| margin for profits very narrow
Tie weekly output of the iron furnaces
in blast Marcn l was lS0,991 tons,
against 174 03S Jan. 1, and 49,
| 775 a year ago. To many this fur
ther increase of over per cent. for the
month will seem surprising, but it was
announced a month ago that several large
furnaces we're about to go into blast, with
production exceeding that Of year ago
| more than 20 per cent, and already at tho
rate of 9,400,000 tons yearly the tone Of the
market has been weaker, and prices have
again declined.
BIRMINdHAM's CHEAP IRON
A reduction Of 81 80 in the price of Bir-
| mingham iron, 30 that it is now offered in
the eastern markets so cents below similar
| iron from Pennsylvania, compels sellers to
make concessions, and causes nervous and
disappointed feeling. Rails are quoted so
cents lower, and one lot is said to be for sale
| at $34. The demand for bar iron is better.
but on the whole there is as yet lack Of evi-
dence that the country can consume at the
rate it is now producing pig iron, and lower
| prices are apprehended.
Reports from other cities indicate some
Improvement in the volume of trade where
a change is noticed.
RATES ON MONEY UNCHANGED.
No change Of consequence 10 rates has oc-
Cured in the New York money market,
though the treasury has paid out S1,0O0,000
more than it has taken in.
| The exports Of cotton, breadstuffs and
| oil for February were in value $50, ,217, 1868.
| against $33, ,6I0,3 ,396 last year, gain OF II
per cent, largely due to the doubled ex-
| ports of wheat and -four. But for two
weeks of March the exports from New
York have fallen below last years nearly 2
per cent, while the imports increase.
The speculative markets for products
have been little stronger, excepting for
oil, which has dropped cents. Wheat and
corn are half cent higher, coffee quarter
cent higher, aud pork products a little
stronger. But speculation is not rampant,
and is likely to be restrained for month
by fear Of tight money
The business failures occurring through
out the country during the last week num-
Der for the United States 217, and for Can
ada 35, total of 252, compared with 200
last week.