The morning news. [volume] (Savannah, Ga.) 1887-1900, 1890-06-01
A SLUMPIN SPECULATION.
STOCKS AND WHEAT GIVEN a
BLACK EYE LAST WEEK.

The Legitimate Business in Progress
Average for This Season OF the Year,
Crop Prospects in the South Re-
ported Fair.
New YORK, May SIR. g. Dun g.
Co.'s weekly review Of trade, issued yester-
day, says: "Another week has brought q
distinct reaction in speculative markets,
which was only suspected week ago.
Stocks and wheat have had a sharp decline,
though the business in progress throughout
the country seems about as large as at any
previous time, judged by railway earnings.
clearing house exchanges and other condi-
lions. With no disturbance in the
money market, and DO commercial
disaster to cause apprehension, prices
turned downward, and the expectation OF
ali expansion Of the currency no longer
suffices to lift things. As before, there is
full confidence that some bill causing q
large addition to the currency, based on
silver, will be passed, and the events of the
week at Washington have increased the
probability that the pending tariff bill will
become a law, with some notifications
Reports from the interior cities continue
highly encouraging.
BUSINESS 0OOD IN DIXIE.
sat the south the crop prospects are fair
and business is satisfactory for the season.
though naturally declining as summer APP
proaches.
SAT the east groceries have been COM
paratively active, and the boot and shoe
trade fair, while strikes still fail to disturb
the markets for building materials AL
though the number or persons noininally
on strike during the past month has been
unusually large and more than double the
number In May, 1889. scarcely any of the
contests have been prolonged, or of much
influence upon general trade
'sThe great industries have not materially
changed in position, for although specula-
tion in cotton has advanced the price again.
and has caused some advance in cotton
goods, particularly in bleached, the demand
is only steady. and print cloths have not
risen.
WOOL NORMALLY FIRM.
"Wool is called firm only because buyers
and sellers do not yet make the concessions
necessary to make trades, and manu-.
facturers are still waiting in the hope that
lower country prices may make profits pos
slble for them, or else that the contemplated
change of duties may help the sluggish
market for goods.
'The iron and steel industry has not yet
realized the decided improvement which
dealers hopeu was IOresnadOWe0 by the
drmer tone last week, and buyers do not
forget that the present production, at the
rate Of 100000 tons yearly, is more
than the country has ever yet
taken into consumption. The works
are generally employed upon orders
for some time ahead. The rail deliveries to
date exceed last years, and better orders for
manufactured iron are noted, but the point
is approaching at which the consumption
Of pig iron must slacken for a time, unless
the demand for some kind of finished pro-
ducts become fuller.
THE MONEY MARKET.
"The general tendency of the money
market has been toward relaxation in the
demand and a return of currency to this
point. The treasury has taken in 81, SOC, 900
more than it has paid out during the week,
but rates have declined from to
5 per cent Foreign exchange has
risen cent however, and
decrease Of 100 per cent. for the month in
the exports from New York contrasts with
the increase of 10 per cent. in imports, in
dicating q large excess of imports for the
month OF May.
"The business failures occurring through
out the country during the last week mum.
Der for the United States 204, and for
Canada ID, total of 21S, against 222 last
Weekn