The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-11-27
EXPORT TRADE is ENORMOUS.
pRICE OF WHEAT JUMPS UP ON EU-
ROPEAN TAKINGs.

Raw Cotton and Manufactured Pro-
ducts Also in Big Demand Abroad
The Aggregate Exports for the En-
tire Month of November Last Year
Probably EquaIIed by Those In
Three Weeks in November This
Year-SOuthern Demand for Goods
Larger Since the Raising of the
Quarantine.
New York, Nov. Pr. G. Dunn & Co.'S
Weekly Review of Trade in its issue to-
morrow will say: THE heavy exports of
wheat. with the renewed advance in price
is the most interesting and important
feature of the weeks EVENTS Since Au-
gust when the extent of the foreign de-
fciency became realized, the exports have
been larger than in the corresponding
weeks of any previous year. The cotton
exports also have become very heavy, and
the outgo of corn falls but little below
last years unprecedented record, while in
exports of manufactured products, espec-
tally machinery, all records for the season
have been surpassed. While the aggre-
gate for November was last year over
three weeks have been but slightly small
err with a fair prospect that the known
increase in cotton and other products from
other ports may make up the deficiency.
After the slight decline last Saturday
wheat rose to 81 .OO15 for November with
No. red and other grades selling many
cents higher. Yet when receipts are of
enormous magnitude, amounting in four
weeks to 27,O72, 104 bushels, against 9214.83S
in the same four weeks last year, while
Atlantic exports, flour included as wheat,
were for the week $685. 46 bushels, and
for three weeks 10, 439 $50, against 1871, 6S5
last year. The shipments from other ports
have also been heavy, and nothing APP
pears to change former estimates of Eu-
ropean needs.
Cotton declined to 5.S1 cents, the lowest
point for many years, with scarcely any
indication of speculative effort. More has
come into sight this month than during
the same time in 1894 the largest crop
ever raised, while takings by northern and
southern Spinners have been smaller.
Print cloths and some other staple goods
are at the lowest quotations ever known.
In such conditions, weakness is natural,
although extreme estimates of yield are
not by some entirely credited.
The demand for goods from the south
is larger since the removal of the embargo,
and recent reductions in prices have slim
ulated larger transactions by dealers, but
the stocks held by the mills are still
heavy.
"The iron industry shows no decided
production or consumption of pig, but
with much reduced orders for products ex-
cess of production is expected, and Besse-
mer falls a shade to $l0.15 and grey forge to
1925 at Pittsburg, though Chicago and
1 eastern markets show no change. Billets
are also weaker at Pittsburg at SIS. Expec-
tation of lower prices tends to depress
them at time when new business is nat
urally small and the mills are working
mostly on old orders, with buyers impa-
tent for deliveries. Other big orders are
held back for plate on account OF inability
of the works to deliver in the time speci-t
fed.
NO change has occurred in cotton man.
ufacture and the market for 1t is still ir-
3 regular.
''Failures for the week are 286 in the
United States against 800 last year, and rs
in Canada against SO last year.
New York, Nov. 2s-Bradstreet's to-
morrow will say: Notwithstanding the
i appearance of a demand for holiday spe-
cialtes at some points in the south at
Chicago, ST. Louis and in sections trbu-
tary thereto, general trade throughout the
country has shown no general improve
ment this week.
The eastern cotton goods industry con-
tnues depressed. Consumers evidently do
not intend to buy extensively until they
believe the prices of raw cotton is ready
to advance.
Competition from southern mills more
particularly over-production by manufac-
turers, who produce single staple. under
lies existing large stocks and the heaviness
of prices.
"Converters and manufacturers of cotton
yarns are situated relatively more favor
ably. Other lines reporting seasonable
distribution are manufacturers of woolens,
clothing, shoes and jobbers of fancy gro
ceries
Iron and steel have not been in as ac-
tive demand as expected, and are lower,
Notwithstanding furnaces and mills are
supplied with orders sufficient to carry
them well into next year. A favorable
feature is found in advances in wages of
operatives in various industrial lines.
Wheat exports, affected almost entire
~ by the holidays. showed considerable
4 decrease from last weeks total. The ag-
s. gregate exports of wheat (iour included
Il as wheaO from both coasts of the United
States and from Canada this week are
bA65,l53 bushels, against 665S,000 bushels
h last week and 3,51300O bushels last year.
Fl Corn exports also would have been
II larger but for this reason, amounting to g.
$4,000 bushels, against 33O7, 300 last week
and 100000 last year.
n There are 235 business failures reported
throughout the United States this week,
compared with 235 last week and 295 a
year ago."
l.. AND MS EARNINGS.