The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-03-11
TIGHT MONEY AND TRADE
SEVERE WEATHER ALSO BAD AN
ADVERSE EFFaCr.

The Restraint of Exports by Speculs'
ton in the Chief Staples an Important
Factor in Causing the StrinGency.
The Outlook as Shown by Reports
From Various Cities
New YORK, March 1O.-R. G. Dun s.
COL weekly review Of trade says:
business during the past week has been
affected by severe weather. but even more
by the stringencY and uncertainty In the
money markets. The rates for money have
mounted from 81 on call to 81 per cent,
and for two days ruled above 10 per cent,
| but tie extreme pressure has absted with
out any measure OF relief, and on the an
/ nouncement that the treasury department
would not issue bonds but would use the
bullion reserve in maintaining gold pay
ments, the Withdrawals of money for the
west and south have nearly ceased. Gold
TO the amount of 81, 100000 was offered to
the treasury Ia exchange for legal tenders
by banks of Denver, and as much by one
bank at Chicago, and rates here fell to per
cent.
There were some liquidation of stocks,
but none Of Importance in products, and 1t
is evident that the restraint Of exports by
speculation In the chief staples is an irns
po-tant cause Of the monetary strlngency
and Of the loss Of gold by the treasury.
Fair increase is seen in the Wholesale
trade at st. Louis, with bright promise for
the spring
TRADE is satisfactory at Little Rock:
improving at Memphis and quiet at other
points in Tennessee; shrinking with tight
money at Columbus; least fairly good at
Atlanta; better with increased shipments of
lumber at Mobile, aud fair at New Orleans
with sugar firm but rice lower,
The output of iron March l, was 81 no
tons weekly more than Feb. l, though IT,.
600 tons less than a year ago. The stock
uusold declined 100 tons during the
month. Southern producers are weaken
ing and II, 900 tons of gray forge were sold
at 50 at Birmingham. Bar iron is at the
lowest point. Plates are cut somewhat less
severely and rails are dull, while struct-
ural works are still running on full time,
hut with few new orders.
The business failures during the last
week number for the United States, 1913,
and for Canada 81, total of 225."
BRADsTREET's REVIEW.
Bradstreers tomorrow will say
THE orders for cotton goods at
eastern and other centers of pro-
duction are larger, more cotton is being
consumed and prices are steady. Jobbers
are taking larger quantities OF goods, and
country dealers are placing heavy orders,
The increased capacity at Fall River results
in a surplus of 5000 pieces. but prints are
active.
"At the south Charleston reports trade
dull, as interior dealers are permitting their
stocks TO run down. Business Is not par
ticulerly active at Nashville, Memphis,
Richmond, Atlanta, Birmingham or New
Orleans, and collections, while fair at a few
points, are generally slow.
Farmers ore actively engaged in field
work in Western Tennessee, and in Georgia
they have raised SO much larger food crops
that grocers' sales have beell affected at
Atlanta and elsewhere, although at Birm-
ingham trade in this line has improved
The slow movement of cotton makes
trade dull in Louisiana, where the sugar
acreage is to beiucreased.n