The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-01-01
1 BRIGHT YEAR AHEAD.
MN REPORTS ALL TIE INDICA-
TONS FAVORABLE.

Tho Unusually Low Price or Cotton
tie Only Element OF Depression in
the Whole Countrywide West on g
paoular Boom-The Money Markets
Well Supplied.
-NEw York, Dec. 3L-The business fail
u,as occurring throughout the country dur.
,,y the last seven days, as reported to K. @.
n1n & Co., number for the United States
az and for Canada %. or a total Of 1923
.,nnared With 292 last week and 1856 the
week previous. For the corresponding
geek Of last year the figures
we're S4S. The old year has closed
nth a little more than the usuaI
bolidsy dizziness in general trade, but the
reports as to the volume of the holiday
trade are mainly satisfactory; at Chicago it
was the heaviest ever known. OF st. Louis
unusually large, and in jewelry the biggest
known, but at Philadelphia and at New
Orleans not quite up Interpretations, and at
Little Rock unsatisfactory. Quiet In other
trades at this season is not q bad sign and
nearly oil reports add that the prospect
for the coming year is considered unusually
bright.
COTTON THE ONLY DRAWBACK.
Exceptions are to be found at the south.
where the unusually low price Of cotton and
the accumulation of extraordinary stocks
cause depression in trade and stringeucy in
the money markets, but at New Orleans
the money market is easier, still there is a
strorg demand there and at Richmond and
Savannah. 1t is plain that the
SOUTH is the one obstacle to the general
progress at present, over production of cot
ton being the cause. The receipts at the
ports are no longer equal to last years, and
vet do not fall off as much as was expected.
while the accumulation of stocks has be-
come heavy financial burden, and the
price has dropped three sixteenths during
the past week to III cents for middling
upands at New York.
THE SUGAR MOVEMENT.
The sugar movement is large at New Or
leans, with prices improving, AM the move
ment of rice IS steady and tobacco is fairly
sustained in the northern markets. but
the southern trade depends so largely
upon cotton that serious de-
preston necessarily follows the lowest price
for many years. 1t must be added that the
greatly increased production of iron has
made it very low, and thus strained the re-
sources Of many new and costly works at
the south, while cotton has gone cut OF
many Speculatlons In real eItate.
GOOD LUCK OF THE WEST.
On the other hand, the west is peculiarly
favored by an enormous foreign demand
for crops, which would otherwise be de-
pressed because the largest ever known.
Wheat comes forward as rapidly as the
crowded condition of the railroads will per
nit, and the exports, though reduced last
week. are very large again this
week and for tho six months
have exceeded 100, co., 900 bushels, -four in
GUIDED, whereas the greatest movement ever
known in the last half of any previous
year was lis. 900 600 in 1879. The price has
declined nearly l cent during the last week,
corn "a and oats Is, but prices are highly
satisfactory to western farmers. Pork
products are shade lower, coffee nearly l
2e1t lower, oil }s cents lower, aud the
prices OF all commodities average more
than one-half of per cent. lower for the
week.
THE MONEY MARKETS.
The money markets continue we'll supplied
and undisturbed, and the treasury has
again paid out more than 81 900, 900 In ex.
cess Of its receipts fo7 the week. Foreign
exchange tends lower, indicating larger i'm
ports OF gold at no distant day. Foreign
.Tade continued exceedingly favorable, for
@hile the increase of imports at New York
during the past month has been about
~ per cent. the increase in exports here has
3een over $40, l7S000. or about 81 per cent,
which would indicate an excess OF exports
2yer imports exceeding $46, 600, 600 for the
month. TIE stock market hes been strong
.o"ard the close OF the year. and the divi-
l9nds declared have been encouraging, but
me record Of receiverships during the year
Includes twonty-slx railroads with 2,l59
mlies In operation, and SS4, 479, 600 in stocks