The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-04-24
TRADE HURT BY WAR TROUBLE
DANGER or A EUROPEAN OUT-
BREAK CAUSES A SCARE.

American Markets Much More Fligh-
~ Than Those of Europe on the
Opening OF HOstilities-Wheat Up &
Cents I'm Four Days-The Uncer-
tainty of the situation Sure TO In
nuence Prices Until II Disappears.
Heavy Exports of Corn Cotton
Very Slightly Affected.
New York. April pr. G. Dun & Cos
weekly review of trade tomorrow will
say: IF either Turkey or Greece had
been wholly buried in the sea, markets
might have been affected less than by the
outbreak of war in Europe. Like fire in
the heart of a crowded city, it raises the
question If a general confiagration may
spring out of it. To the possibility. and
not to rhe direct influence OF either Tur-
key or Greece upon the worlds money or
produce markets was due the excitement
i'm grain and stocks. AS the unknown is
magnifed, American markets were much
more tightly than the European, where
the possibilities have been discussed and
partly discounted for months. But, the
uncertainty remains and will affect the
movements of money and staples until it
disappears, creating a large demand for
American products at higher prices caus-
ing hasty speculative selling of securities
at times, but also more continuous buying
for foreign Investors, and not improbably
influencing the attitude of foreign powers
on questions important to this country.
Wheat rose six cents from Thursday
to Monday, and has retained most of the
states will be likely to ship wheat scanti-
ly, especial needs and much higher prices
being possible there, a large share of the
requirements of western Europe may nat
uraly be drawn from this country, and
the chance of war between the great pow
ers has the more influence because the
supplies held are not large. While west
ern receipts do not yet increase, and in
three weeks have been but 5,641, 900 bushels
against 5,9S3,199 last year. Atlantic eX-
ports begin to gain slightly, amounting TO
1.19O, 329 bushels, flour included, against l.
0S5,764 last year and for three weeks have
been S,5SS, 10 bushels, against S,45S,679 last
year
But the great increase is still in corn
of which the price has scarcely advanced
though Atlantic exports were 4,1S9,146
bushels for the week, and for three weeks
20 otslO
Already the exports for the crop year have
been 100000 bushels larger than Atlantic
exports of wheat and -four, and may soon
exceed the total exports of wheat and flour
from both coasts.
Cotton has been affected scarcely at
all, though government estimates that the
flood districts yield nearly 500 600 bales for
increased acreage in other sections is gen
orally reported. The past week, like 9TH
ers of late, has witnessed the starting of
operations by several iron works, especial
| ly in black sheets for timing, and YET
| prices of pig iron and unfinished products
are lower, the demand not yet equalling
| the supply.
| 'Bessemer pig has sold as low as 1906
| at Pittsburg, and grey forge al $3.50 in I5ir-
| mingham. Steel billits fell to $1425 at
| Pittsburg and angles to / cent. but wire
rods cannot be supplied fast enough at
| 2l.75 Nails are strong and a few more
| structural orders are pending. Eastern
| works also have orders for 1900 tons OF
steel rails. Complaint and proof that
| the demand for products is deficient blinds
many to the fact that the actual work In
| progress, largely on the heavy orders for
beams, billets and sheet bars taken when
the pools broke up. is of greater volume
i than for a long time. Large sales of con-
| per are reported at 11l2 cents, with pro-
| duction of Is, 2S3 tons in March. The end
| of the stipulated curtailInent has been
| reached by some cotton mills, and nearly
| by all. and since the auction sales some
bleached goods have been slightly advanc-
| ed, but actual buying does not increase,
| and print cloths do not improve.
'sales of wool have been largely by for
eign representatives. For the three chief
/ markets the sales were 1896
| 800 pounds in three weeks, 20,271, 300
being foreign, against Is, 800, 100 of 1892 in
! Guiding 7,574,0OO foreign. But manu-
| g. H.. -
/ orders for goods improve very little, though
better for some grades.
| The failures for the week are 21S in the
United States, against 23S last year, and
p in Canada, against A last year."
New York. April 28-Bradstreets to-
| morrow will say: THE change in the
conditions underlying general trade. while
slight this week, has been In the direction
| of improvement. The depression in iron
and steel continues and Bessemer pig and
| still billets have reacted another Is cents
a ton The outlook favors an increase in
| labor disturbances to resist midsummer
| wages reductions. The bituminous coal
mining industry Is worse off than the An
thracite, with rumors of strikes which
| promise to have an unfavorable influence
on other than the iron and steel industries.
Trade in wool is quieter. There Is less
life i'm the wholesale dry goods trade ana
little relief has been experienced. notwitb-
standing the large auction sale of cotton
goods last week, buyers continuing TO sun
ply immediate needs only.
1.-The tendency toward more eettIed
weather has stimulated the retail a.
mand, more particularly at the north
west, notably for dr. goods, hardware ana
millinery.
THE general tendency of the Mississlp-
pl flood to subside mas created a better
feeling, but not even the recent agrieul-
tural department census records an the
damage done.
Country roadways have begun to I'M
prove which benefits interior merchants
l.,rhn nnlu laroe CITIES rannrll... - -