The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-04-23
BUSINESS NOT so VERY BAD,
INFLUENCE OF THE APPREHENSION
OF BANKERS FELT.

No Excuse Except want of Nerve for
the Decline in Railway stocks.
Earnings showing Up Magnificent
lv-CIearing House transactions
Give No Ground for GlOOmtneSS.
Price OF wheat on n BOom.
New York. April 22-R. G. Dun & Co.'S
Weekly Review of Trade viii say to-mor-
row: 1.-THE war is no longer to be avoided.
and business is somewhat contracted by
bankers apprehensions There is no ex-
cuse except want of nerve, for the de-
cline in railway stocks, when earnings
have been 1i.S per cent. larger than last
wear for the first half of April, aud 4.s
per cent. larger than in 1892, with rail-
way tonnage oast-bound from Chicago
about 10 per cent. larger than in 1892.
Neither are clearing house transactions
gloomy. The weeks payments were 1876
per cent. larger than last year, and SO
per cent. larger than in 1892.
I'm no aspect can the wheat market be
considered without finding just occasion
for a material advance in prices, which
has been TIC for the week. The exports
from Atlantic coast ports have been S,104.-
800 bushels, flour included, against 1,19OS92
last year, and from Pacific coast points
4S5,6S6 bushels against $3.50 last year,
making for the three weeks of April $685.
1872 bushels from Atlantic ports, against
S,5SS,17O bushels last year, and from Pacific
ports 2,529,62S bushels, against 712,S1 for
the same weeks last year. The exports
of corn during the same three weeks have
been 11,2SO1SS bushels, against 1O,22l 16i
bushels last year, which is strong evidence
that the demand for wheat is in no sense
fictitious.
THE enormous iron production does not
diminish, and the demand for finished
products is heavy. No decrease in prices
appear and the production continues prac-
ticaly unchanged at the highest point
ever known, although in Eastetn markets
the output is considered somewhat in ex-
cess of the supply.
Copper is stronger with heavy demand
for consumption.
''In woolens the heavy cancellations re-
Gently reported prove to be in a large
measure requests for deferred deliveries,
but better demand has been seen dur
tng the past week in some quarters on
account of large government orders
In cotton goods the resumption of work
by several large mills has increased the
output and the demand does not appear
to have diminished
Failures for the week have been 2O4 in
the United States, against 2lS last year,
and % in Canada against q last year"
Bradstreet's tomorrow will say: Gen
eral trade and speculation this week have
exhibited most of the characteristics
which have become popularity associated
with the near approach Of hostilites.
While there is reported a further quiet
ing of distrlbutive trade in some lines at
the East and South traccabe almost di-
rectly to anticipated warlike conditions.
there is lack of regularity even in the
reports from those centers, which serve
70 show that now that the uncertainty
so long prevailing has been dispelled trade
conditions are being shaped to the new or
der of things. There is consequently
great increased activity in many special
lines at the seaboard, accompanied by ex-
cited markets and heavy price advances.
While trade in the interior .sympa thizes
to- "a certain extent with this price move
ment, there is still a perceptibly good
trade reported entirely outside of this,
which serves to prove that the prospect of
war has not had nearly as much effect
inland as 1t has had on the coast
In commercial lines this week much
interest and activity has been manifest
ed in the speculative and actual demand
for leading staples, such as wheat, corn,
oats, -four, coffee, sugar pork products
and cotton.
"A reflection of this active demand,
1ant1~ 80 s4. -
cotton are concerned among foreign buy
ers who wish to anticipate any possible
Interruption of supplies, is found in the
movement of prices, which for the first
time for many weeks past, shows a gem
eral upward tendency.
1.-THE advances In coffee, sugar and rice
are directly traceable 10 war influences.
marking, as they do. either desire on
the part Of domestic buyers to protect
themselves against any possible Interrupt
tion of supplies or the anticipated levying
of taxation to meet the increased outlays
OF the government.
Careful search among the quotations
for staple products fails to reveal any inn
portant decline ip prices outside of frac-
tionaA marking down of steel billets at
some markets.
1.-The check to the export trade at some
ports, notably at the South, Is reflected in
temporarily smaller shipments of wheat,
corn and -four. The total shipments of
wheat. -four included, this week aggre-
gate 1929, l06 bushels, against LIES, 302 BUSH
els last week, and 1,654,66S bushels in the
same week a year ago Corn exports this
week aggregate S.S6S.O0O bushels, against
4.e66,0O0 bushels last week and 4.T6s. 900
bushels In the same week last year.
There were "a business failures in the
United States this week, against 2l5 last
week, 2f6 in this week year ago, 2lO in
1896 and 23 in 1895.
Business failures In Canada for the
week number 10, against q lastsweek, aid
e In the same week a year ago.