The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-02-22
BANKER cLEws' VIEWS.
The Financial Outlook as Seen From
Wall street.

New York. Feb. 20.-In the investment
and speculative departments OF Wall
street. there have been no important
changes during the past week The pre-
ponderant feeling seems to have favored
selling, partly because operators had be-
come tired of the dead level in prices
which had prevailed. and partly because
the condition of the foreign markets was
calculated 10 produce some unscttlement
of feeling on this side the Atlantic. The
result of these conditions has been a fall
of 10i2 Der cent in prices during the week
Domestic conditions retain the symptoms
of recovery which ! lately noted as haV-
ing set in; and there can now he no ques-
ton that the general business OF the c0un-
try is at last steadily drifting into healthy
activity. The tonnage retuTS of the rail-
roads. eastward and westward, show
very satisfactory increase; and the same
tendency appears faVorably with those of
January. With trihing exceptions, rates OF
freight are stable, which together with
the extremely low prices of railroad sup
plies, should be favorable to the net earn
ings.
The merchandise markets show a very
marked improvement. The commercial
hotels are full of buyers from all sections
of the country, and IL is doubtful II the
interior trade was ever before so fully
represented in this city Within the last
nine days, no less than thirteen hundred
dry goods buyers arrived here The
wooden goods trade shows a distinct re
covery, and mills that have been closed
for months are resuming work similar
recovery is apparent IN nearly AZ other
kinds of merchandise. The Interior buy
ers are discriminating and careful, but
the aggregate of their purchases is max
ing a satisfactory impression upon
stocks of goods There are nowhere any
indications of a speculative demand for
merchandise, but a fair. conservative
business is realized in the trades general
ly, and prices are steady. The break
ing-up of the steel rail association has
resulted in sales VariOusly estimated at
from 900 600 TO 100000 tons, the price
having settled down TO SIS to $40, accord
of the rail market viii set in operation
a large amount of business which has
been stagnant for many months. From
the winter wheat sections, the accounts
are still favorable, the thick snow blanket
having preserved the plant in good condi-
ton and the prospects being almost uni-
formly hopeful for the crop.
The foreign trade movement still runs
largely in our favor. The gain in exports
is naturally beginning to abate. and the
figures for January show an increase over
last year of 81, 100000, while for the preVi-
Gus quarter the gain had averaged over
SO 900 600 per month. But the imports for
January show a much larger rate of de-
crease than previously, the falling off be-
ing $l6,900,000. while for the months of De-
cember, November and October the
decrease averaged only SlS500,OO0
The merchandise imports for last
month amounted to S5S. 10000 while
the exports were valued at 49,
0oO,OO which shows a balance in our
favor, on the merchandise account
amounting to %5. 800, 900 or the same
month of 1896, the creditor balance was
go, 500, 900. These figures show that We
may safely postpone expectations of gold
exports for in addition to this balance of
458 millions for January we must reckon
the large sum of export bills still held
| here but which will now soon mature.
These balances will much more than cover
the interest payable abroad at the begin
ming of March.
II must be here noted however that
during this month the imports of mer-
| chandise have begun to show a decided
| increase, the result probably of more lib
eral orders sent out in November under
| the encouraging outcome of the election.
| The imports at this port for the first two
| weeks of February amount to SIS, 600,
which is Identical with the figures for tho
| corresponding weeks of 1896. We are eV-
| identity now entering on a period in which
| the late large creditor balance between
imports and exports viii be modified, and
| we may expect 10 see increases in the
| imports and decreases in the exports; hut,
| in the meantime it would seem that Eu-
| rope must be owing largely to the United
! States on the balance of past transact
| tons, including financial, as well as COM
mercial.