The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-03-07
TRADE WAITS ON SPRING
THE MONETARY WORLD RELIEVED
BY THE END OF CONGRESS.

= IhE END Of CONGhEOC.
The Availabls Supply of Currency Will
s Don be Largely Increased on Ac-
count Of the Heavy Appropriations
The Decline in the Price of Cotton ell
That's the Matter With Dixie.
NEW York, March 6.-R. G. Dun g.
! Co. 8 weekly review of trade says: Con
gress has adjourned ard the posi- bility Of
an extra legislative session no longer hangs
/ over business, 50 that the monetary basis
cannot now be affected by any law-making
earlier than December next. Nor is
there much prospect now that any serious
change will be made next winter. Meanwhile
the appropriations voted have been so large
and liberal that the treasury surplus must
be considerably reduced. and the available
supply of currency increased within the
| current year. One unwholesoms factor is
that the prices Of commodities are moving
| upward rather rapidly, the average having
| risen more than l per cent. during the last
week, aud the exports Of merchandise are
| thus liable to be restricted
REPORTS OF TRADE.
"Reports OF trade from all parts OF the
| country snow little change since last week,
though there is perhaps little less activity
| on the whole. The south feels the contin-
ued decline in cotton, but trade in that sec
ton is moderately fair. Rice is firm at New
| Orleans, molasses strong aud sugar dull
AT Pittsburg, while the failure to settle
the coke strike stiffens most prices, struct-
ural iron is shaded and window glass is
| weak.
Chicago reports an extraordinary de-
crease in dressed beef receipts, and a heavy
fall in receipts Of grain, lard and hides, but
a large gain In cured meats and wool.
| Trade is generally good at Boston, but
rather in materials than in manufactured
products.
"At Philadelphia, iron is flrmer and coal
more active, tobacco is quiet with slow
collections. wool is rather scarce, with
worsted spinners busy at profit, and job
bers In the shos trade reporting good orders,
though buyers are careful"
| CoTToN's DECLINE.
"The only speculative market that has
declined during the week is the cotton
market. the receipts showing an increase
of 1900 bales over last year, and the ex-
ports an increase of IL, 900. The fall of an
eighth puts the price close to the lowest
ever recorded in this market since 1851 but
wheat has risen over l cent, oats "a cents
and corn nearly cents, coffee
Is cent, oil q 4 cents, butter 9cents and
pork products a shade. 1t is difficult to see
why wheat should advance, with the west-
ern receipts largely exceeding those of the
corresponding week last year, with the
visible supply well maintained, and exports
falling off. Thus far this week, for in
stance the wheat exports are not half last
years for the same days. The flour exports
are not one-half, and corn exports only one
ninth.
THE SPECULATIVE WAVE.
1.-THE speculative wave which began with
the prospect of free silver coinage last
| spring will recede in time, not to the ad-
vantage of those who hold large stocks Of
products. l. is not good sign when specu-
latlve In erests are active and buoyaut,
while legitimate and productive Industries
are hesitating or curtailed. In the iron
industry temporary stiffness in prices
does not hide the fact that general
consumption has sharply declined, appar-
emily not far from one-ffth. No movement
is seen in rails, the Scranton and Lacka-
wanna combination has fallen through, d
while offerings of pig by uthern mills are
comparatively light. bar mills are ali hun
CRY for orders. prices Of plate and structural
iron are cut to secure business, and trade is
actually forced to regard with satisfaction a
continuance of the coke strike, and the Nc
honing and Shenango shut down.
THE WOODEN INDUSTRY.
1.-THE wooden industry is in a far better
condition, the output Of knit goods, worst
grades of II ems cloth being larger than at
any time for five years, but the more costly
grades Of cloth are not yet in strong de-
mand. Cotton manufacture is not favored
by a demand for many grades of
} cloth, but boot ard shoe manufacture is do
ing a lit lie be ter of late, though etnbar-
raised by unsatisfactory prices The tres
sury as put out, silver notes included, only
$20O,00 more currency than it has taken in
during the past week, but the money mar
kets are generally well supplied for legiti-
mate business needs, though at some points
stringent or more active.
, Reports as to collections grow little
less satisfactory and yet it is tne prevail
ing impression that business in all parts OF
the country is on solid footing, and viii
prosper when good crops come.
\ EXPORTS AND IMPORTS.
"The exports Of products from New Yors
were larger last week, but for the pas
: month show a decrease of about per cent
and imports mean while show q marked in
crease. Railroad earnings continue heavy
and clearing house exchanges exceed last
= years, but decidedly less advance IN prices
indicating material decrease in the quaint
ties transferred
1.-THE stock market remains comparatively
n inactive, with weakness in some stocks
/ but n general undertone of strength, and
Q the opinion grows that no particularly
Q harmful legislation is to be expected th
Q year in the western states
d 1.-The business failures for the weel
= number 235. For the corresponding weel
K of last year the figures were 223.