The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-01-30
LOWER PRICES IN TRADE.
THE VOLUME OF BUSINESS LARGER
BUT PROFITS SMALLER.

Money IN Plentiful Supply and the Elk
traordinsrily Heavy Exports Attract
ing Attention-More Business in Iron,
But Prices Weakened by the Heavy
Output-The Week's Failures.
New York, Jan. 29.-The business fall
ures occurring throughout the country dur
ing the last week. as reported to r. g. Dun
& Co numter for the United States 253
and for Canada A, a total of 297, against
32s last week. It is undeniable that there
exists considerable feeling of disappoint-
ment More business but at lower prices
seems to be the rule That the volume Of
trade is gradually increasing. even in the
branches which have been dullest, there
seems to be no doubt. But in an unusual
number of cases the increased sales appear
to be the result Of some yielding in prices,
so that the average decline in the prices Of
all commodities during the past week has
been more than one-half Of per cent.
MONEY PLENTIFUL
Money continues in large supply and ex-
traordinary exports in December, amount
ing TO almost $3.50, 900, 600 against not quite
$50, 100000 last year, attract especial atten-
ton The foreign trade of the country in
1891 was greater in exports and also in i'm
ports than that of any previous year.
There is no more business done in iron
but the increase in the weekly output since
the unprecedented report OF Dec. l has
weakened the prica so that the Wise com
pany has reduced No. anthracite TO Sl7 50.
and Bessemer iron is 80 cents lower at Pitts
burg. Bar iron is dull at Philadelphia and
weak at Chicago. The market for plates is
demoraliZed by large production. while
some structural iron mills are short Of
work.
REPORTS FROM OTHER CITIES.
Reports from other cities generally indi-
cate gradual increase In the volume OF
trade. At Philadelphia iron is quiet and
coal demoralized, but dry goods are more
active and the grocery trade larger than
last year. Paints. oils, glass and jewelry
are quiet and chemicals steady
At Baltimore the jobbing trade is quiet,
but manufacturing brisk.
Pittsburg reports finished weaker and
many flint glass works closed by dull trade.
In dry goods there seems to be rather less
activity as TO cotton goods, and in knit
goods some dizziness. Clothiers are con-
sentative. and are waiting for indications
of popular fancy, and hence the mems wear
wooden trade is perplexng. The stocks on
hand are short, but the demand is also short,
apparently because the freaks of the public
fancy last year were such as 30 warn manu-
facturers and clothiers against over hasty
action. There is "a better feeling in the
wool market, however, at New York, as at
Boston, and continuing sales prove that
manufacturing has by no means ceased.
COTTON LOWER.
Cotton is an eighth lower at
~ cents with enormous receipts
for the season and sales of S37, 600
bales here. While both receipts aud ex-
ports fall somewhat behind those OF last
year for the same week. the indications
still point to a very large crop.
The money markets throughout the
country are unusually well supplied, but in
part because the demand is only moderate.
Collections are generally improving or de-
cidedly good. At New York money on call
has declined from 2 to \ per cent, and the
treasury has paid out about 81, zoe, 900 more
than it has taken in during the week.
FOREIGN TRADE.
The course Of the foreign trade makes the
absence of gold imports somewhat note
worthy. The exports from New York for
the four weeks of January have been $1l,-
1873. 600, or 42.9 per cent. larger than for the
same weeks last year while In exports there
has been a slight decrease, which
would point TO an excess of exports over
imports amounting to about 49,, 900 900
for the month against $50, 5000 last JAM
uarY. Yet foreign exchange is stronger,
having risen during the week from "a S58I
70 a Sc. and the unsteadiness Of the STOCK
market is supposed TO be due to consider
able sales of securities by foreign holders
who may not unnaturally find attractive
opportunities in the weakness of govern
ment and corporate securities in their own
countries.