The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-05-09
TO MUCH G LID SENT OUT.
The Drain Felt in the Markets Of the
World.

The Drain Felt in the Markets Of the
World.
NEW YORK, May S.-R. G. Dun & Co.'s
weekly review of trade says: The finan-
cial markets of the world have LA
Grippe" a disease imported from Russia,
the New York variety, by way of London.
The struggle to sustain Russian securities
against the disfavor Of the Rothchilds: the
demand for gold by the German
bankers and the threatened withdrawal
of Russian gold from deposits in
England, France and Germany, account
for much of the unusual movement of
specie which has been in progress, but
accounting for it does not stop it, and the
actual outgo of about $14,OOo,OOO in April
and not far from 100000 already for the
nine days of May has caused some weakness
in the markets.
ENGLAND PREPARING'
can advance of one-haf of per cent at
once in the rate charged by the Bank of
England is rightly regarded as notification
that England means TO fortify itself in this
great struggle by drawing gold from New
York. This sudden demand comes at
season when this market can
spare gold with less Inconvenience
tbaa at any other, and continued issues of
| silver notes makes the withdrawal from
| circulation less felt, though the fact that AZ
per cent. of the customs receipts at New
York, are now in silver paper shows that
the remedy cannot last always.
BIG PLUNGE.
MAY starts off with great plunge in
| speculative prices. which has for some
| weeks been anticipated. Wheat fell Is
cents in as many days, much to the disgust
1 of the men who have been predicting
famine before July. 1t is still fact that
the possible demand next year, on account
| of the failure of the crops in France and
elsewhere, has to meet it an exceptionally
favorable prospect here, while the export
demand for wheat this year, even since
prices have broken, is not large enough TO
| prevent the carrying over of great unsold
| surplus next July. The sales here last week
were buU $1,000, 900 bushels, but, with a net
| decline Of 5@s cents, and while corn has de-
| chned S]9 cents in sympathy, and many
| spectators have suffered the sales have
been but IL ,000, 900 bushels.
| THE STOCK MARKET
1.-THE st ok market has been weakened by
the gold movement III spite of very
harmonious meeting Of the Western Traffic
| Association, that would doubtless cause q
strong advance in prices, were the fear of
| heavy outgo of gold and possible dis
turbances in Europe once removed. An
element of strength is the accommodating
evidence that the wheat prospect at the
west is remarkably good.
Iron already feels stiffening influence
aud some kinds and grades are a shade
higher than a week ago, with larger buying
of pig iron at unchanged prices The de-
maud for structural iron is for the time
lessened by extensive strikes in the building
trades, but for bar and plates there is
more demand.
WOOL SCARCE.
Wool is scarce and manufacturers are
not inclined to activity until the new clip
comes forward freely. At Philadelphia
wool Is 2 cents lower and the trade in liquors.
tobacco. oil and cigars is quiet; in drugs
good, and IN chemicals and jewelry fair,
with improvement IN paints. Collections
are, On the whole, somewhat improved, but
there is yet much complaint.
"AtPlttsburg slight improvement is seen
10 Bessemer and some kinds OF maaufac-
tursd iron.
New Orlsans reports fair trade, with
cotton ia Moderate demand at some that
better prices, and sugar active, but lower