The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-07-18
TRADE GOOD FOR SUMNER
NO DANGER OF FURTHER MONEY
TROUBLE FROM EUROPE.

A Material Reduction OF the Balances
PAYABLE abroad in Specie Can Now
Be Counted On-Imports Falling OF
and Exports Increasing-Trade Duller
south Than Elsewhere.
NEW YoRK, July 1.-THE business fail
ures occurring during the last week number
for the United States PA and for Caaada
30 total of 274 against 247 last week.
R. G. Dun & Co.'S weekly review of trade
Saws: Business clearly grows somewhat
more active, though midsummer dizziness is
Gill the rule. At eastern cities there is
noticed more demand for manufactured
goods. with larger sales Of materials. At
the west trade is enlivened by large yield
e winter wheat already harvested, and
bv very bright outlook for other
crons At the south, however, though
IRON advices are also favorable, no i'm
,rovement appears in business, which is
tnllar than usual, even for the season, and
1T some points is pronounced quite unsatis>
factory.
GOOD REPORTS FROM EUROPE
1.-THE general confidence is strengthened
bv financial tldings from Europe, which in
dicate that disturbance of the money
markets from that quarter need not now
be feared, and by the change in the
foreign trade of this country, which
roints 70 material reduction OF
tie balances payable abroad IN
speoie The imports at New York have
sharply declined since July !, amounting to
about a, 800, 900, or Is per cent. less than
for the same weeks last year. On the other
hand, the exports of domestic products at
this point show an increase thus far in July
Of 50, 1874, 900 or nearly 80 per cent. in COM
parisJn with the same weeks last year.
PIG IRON PRODUCTION.
There is a remarkable increase in the pro-
duction Of pig iron, almost to the unprece-
dented figures Of last year. The sudden
increase in production is not in all respects
u favorable symptom. No corresponding
Improvement in the demand for man
ufactured products is yet seen, and
stocks unsold at only part Of the
furnaces ore now recorded as amounting to
about 900 tons. showing a very large
increase, particularly in coke iron. Unless
the demand rapidly improves the market
must soon weaken so far as to test
severely tue ability of some of the concerns
to continue production. Already there is
perceptbe weakness in the market at
Philadelphia, and some concessions in price
are noted for pig iron and for plates, while
the market for structural iaon is extremely
dull AS usual Of late, the demand for rails
is scanty, the market for railroad bonds
being still dull and disappointing.
REPORTS FROM THE CITIES.
Reports from other cities are generally
hopeful The prospects are considered
brighter at Philadelphia, though no i'm
proyement Is yet seen in most branches of
trade. but there is more disposition to buy
wool, and the tone Of the market is stronger.
Oils are fairly active. but chem
icals, paints and jewelry are oom-
paratively quiet. The receipts of
wheat, dressed beef, wool and hides at
Chicago show a great increase, aud new
wheat comes in literally, So per cent. of it
grading No. .. At Nashville trade is fair,
but dull at Memphis; unsatisfactory at Lit
tie Rock, falling off at Savannah and slug
gish at New Orleans, though q better
demand is seen for cotton. At Jackson
vile trade Is better, with crops in good
condition.
WHEAT SPECULATION.
The collapse In wheat speculation has
come with fall of cents during the past
week, but corn is scarce and 3J6 cents
higher, while oats have declined about l
cent. Pork and hog products are higher,
coffee has risen and oil the same,
but cotton is unchanged and the gen.
eral course Of prices has been downward, as
Is natural at this season. the fall during the
past week having averaged three-fourths Of
per cent.
The money markets are generally in
fair shape aud collections fair for the sea-
son,