The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-02-26
SPECULATION A BIT SLOW.
FOREIGN POSSIBILITIES BRING
ABOUT HESITATION.
BRING

|
Ever-VoIume of business Larger
Than in February of Any Previous
Year-Lcgitimate Export and Do
nestle Demand Close PIP to the Ca
pacIty of WOrks-Wheats Sensa-
tiOnaI Advance.
New York, Feb. 25.-R. G. Dun & Co. s
weekly review of trade Will say In its is
sue of tomorrow: Foreign possibilities
! have much affected speculation and caus-
ed hesitation in some large business oper-
| ations, possibly accounting in part for a
| check in the rapid advance in wheat, but
industrial operations continue larger than
ever, a few new ones being added TO me
active list. and there is renewed evidence
| that the volume of business is larger than
in February of any previous year. Nor is
there any symptom Of a sensational char
acter. The legitimate export and domestic
demand press close to the capacity of
works, and. though there is no Eighty ad-
vance in tone, ana narrowness of profit is
a matter of complaint the new business
for this duh season is unprecedented.
Wheat continued its progress upward
until sLOs7s was reached on Monday, but it
declined 3l4c later, as if there were fears
that Spain would somehow stop British
vessels from taking wheat across the wa
ter. Any yielding based on foreign posi-
bilities deserves little notice, but the price
has advanced about 10 cents since Chicago
spectators last took occasion TO shake OFF
weak followers and the opportunity for re-
action was inviting There was no ahating
of the foreign demand.
'The spot price Of cotton was not al
fected. 1t is not the season for much i'm
provement in textile manufacture but the
cotton branch has gained ny the closing
of the strike in one Fol- River mill and by
the addition of some works at the South.
The wooden manufacturers meet many
cancellations. especially in goods sold
early without definite price, but IS dong
more than ever a this season, though new
business in the higher grades of worsted
and Woolens is not particularly encourag-
ing.
Sales of wool are slow, with weakness
in clio ing, amounting to about cents
decline from the highest points indicating
that mills have at the present abundant
stocks but some are selling foreign wool
in order to take supplies of other quail
ties.
In goods of medium and low grades
the demand continues large. The silk
manufacture shows a remarkable in
crease of imports during the year, having
imported in excess of consumption and at
the rate of 100 per cent. above the imports
in the last census year"
Bradstreet's tomorrow will say: 'W.hile
business of a speculative nature has been
inn -tY~1fY in,
political affairs in reduced values and
Withdrawals or cuPta.lment of activity in
some lines, there IS little to indicate that
the volume of distrbutive trade has been
reduced, and reports to Bradstreets this
week. so far as the latter branch of bust
ness is concerned, are among the best
received this year. With few important
exceptions the price situation is one of
strength, while the enlarged demand for
coarse grains is taken to reflect the turn
ing of attention from higher priced cereals
TO those of a lower priced character.
1.-The cotton situation is one of firm
ness, rejecting alike the curtailment of
production growing out of labor troubles
and the advance IN raw cotton induced by
export demand.
"Wool is firm, but there is less doing
in manufactured goods. Kansas City. per-
haps the most important market for agri-
=
ports the demand exceeding all records
and sales limited only by the ability to
deliver orders.
'The demand for iron and steel at the
West still continues large and prices are
firm.
"The South seems to have shared in the
trade Improvement to a notable extent.
collections are reported retarded in
Texas, owing to the holding back of cot
ton.
Exports of wheat including flour. dur
ing the past week five days., aggregate
3,722 469 bushels. against 3932744 bushels
last week, and 1872, ZIG bushels year ago.
Corn exports amount to 1862. 1872 bushels,
against 5.556,575 bushels last week, and A.
74.S5S a year ago
"a very large drop in the number of
business failures is indicated by reports
to Bradstreet this week. the total number
being only 1873, against 269 last week and
25S in the corresponding week of 1897