The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-03-19
BUSINESS STILL ON A BOOM.
WAR RUMoRs HAVING ONLY SLIGHT
EFFECT.


Highly Satisfactory in the Central
West-MOvcment of Iron and Steel
Large But Prices UnchanEed-Ex-
ports From New York Continue
Unprecedented Movement of
Prices During the Week IrreEu-
lar.
New York. March 1S.-Bradstreet's to-
morrow win say: THE aggregate volume
Of the counIry's business continues suf-
fcently large TO allow of favorable com
PARSONS with past periods alike in this and
in preceding years. Aside from quoting
in demand at few leading eastern markets,
where uncertainty as to the outcome of
foreign complications is advanced as rea-
son for unwillingness to embark in new
business. the situation is one possessing
nearly all of the favorable features noted
for some time past.
The best reports as to distribution in
leading lines come from the central West
and the Northwest. Favorable weather
has improved distribution of dry goods,
clothing, millinery, building materials, ag-
ricultural implements and nearly all other
sumption among the prosperous farming
community.
The movement of iron and steel is es-
pecially large, but without effect on
prices, which are generally very firmly
held. Some slight advances in pig iron, in
fact have been feature of the week at
some markets. Southern Iron manufacture
| re 0rf md taIo lp 81
ments promise alike to be early and heavy
"Distributive trade is reported increasing
at the Northwest navigation is practically
open on the lakes and April l win witness
a general movement of craft.
"Other favorable features of the coun-
| try's general trade situation are summed
up in liberal shipments of leading cereals,
unprecedented totals of exports at New
York, fewer business failures, and slight
| ly larger bank clearings.
Prices have moved irregularly during
the week. The position of print cloths is
a very depressed one, prices during the
past week reaching the lowest quotation
on record. While low grade cottons have
been weak, the medium and finer grades
have maintained prices, have also cof-
fee, sugar, molasses, iron and copper apd
| raw wool.
| Wheat exports are smaller than last
week, but considerably larger than in cor
responding periods of preceding years, ag-
gregating 3,625,5S4 bushels, against 44S4,-
900 bushels last week, 1629,0OO bushels last
year, 1,592,O00 bushels in 1896, and $685. 600
bushels in 1895.
Corn exports exceeded those of last
week, eggregating 3,91S,OO0 bushels, against
$685. 600 bushels in the preceding week, g.,
$4,000 bushels last year, 1,S02, 900 bushels in
1896, and $4,000 bushels in 1895
Business failures in the United States
this week number 233, against 247 last week,
and 231 in the corresponding week of 1897!
and i'm Canada they number % against 81
last week, and &c year ago."
New York, March 1S.-R. c. Dun & CO..
Weekly Review of Trade tomorrow will
say: Neither peace nor war reports have
changed the onward current of business.
Orders for more than SIS, 10000 gold from
Europe have blocked any drift towards
stringency in rates for money, and treas
ury receipts of about 81, 100000 per day
have kept in check any question about the
currency while exports of products have
continued at a rate considerably increased
and the demand for products of the great
industries shows steady expansion. Prompt
action by the Senate and House has re-
moved all fear of embarrassment through
conflicting purposes at Washington. The
government is making ready without any
waste of time, while frankly assuring
everybody that it looks for a peaceful set
tlement and hopes that its preparations
may prove unnecessary.
The backbone of the situation is the ex-
cess of merchandise exports, more than
$41, 100000 in February, with an increase
of S2,2O0000 in miscellaneous products
81 100000 in provisions, $4,500OO0 in cotton
o. aa1 ran.A
last year, and SIS, 100000 in all products
In two weeks of March exports have been
16 per cent. larger than last year, and
imports have gained but 81 per cent
although especially swelled by receipts of
India rubber, sugar and hides. The outgo
of cotton surpasses all expectations, though
the price was stronger last week and the
export demand apparently paid no at
tention to market fluctuations. Receipts
from plantations continue much greater
than at the corresponding date from the
largest crop heretofore produced, so that
guesses about the future crop are now
the main reliance of spectators.
Wheat also moves in spite of all specu-
lation. Atlantic exports, flour included
have been 1,S24.569 bushels, against ], 253. 1896
last year, and from Pacific ports, ], 81. S26
bushels, against 26S, sos last year, making
for three weeks from both coasts 10, SIS. 125
bushels, against 453S,441 last year The
price has varied with conflicting reports
but closed Il cent higher for the week
Wool shows no change in quotations.
though eastern markets are extremely
dull, and the Indifference of manufact-
urers has made transactions only 2O62. 300
pounds against 1881 800 for the cores
ponding week last year, and sos, 200 for
the corresponding week in 1892 The Lon
don market is rather higher and holders
in the interior are expecting a material
advance in prices.
Little encouragement appears in the
market for cotton goods with print cloths
| a sixteenth lower than a week ago. and
standard grades undersold by many of less
note. The demand is large, but not large
| enough.
"In wooden goods, on the contrary. the
material advance in prices has raised the
only obstacles to increased transactions.