The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-05-27
FEAR COMES THROUGH HABIT.
NO OTHER CAUSE FOR APPREHEN-
SION IN THE MARKETS.

Every Year There Is Worry About
short Crops, Hut the Crops Con-
tinue to Grow LRrger-The Way
Iron and steel Hold Up Is some
thing EAtraordinary-HeR Sales
of Wool, and the Cotton Mills Have
Fairly Good Demand.
New York. May 26.--R. G. Dun & Co IS
Weekly Review OF Trade will say to-mor-
row:
There is some fear that has no other
source than the habit Of fear. Men have
found for so many yGrs disaster treading
on the heels OF apprehension that they
lack faith in good things present and to
come. Every year there is worry about
short crops, and yet The crops grow larger.
The spectre Of monetary trouble haunts
men who know that the country is strong
beyond any need. Promoting methods
alarm men who are really quite aware that
il Is only needfuf 10 put promoted stocks
in a class by themselves.
But all the time the volume Of business
is rising, ard the weeks payments through
the chief clearing houses are 62l per cent.
larger than last year, and 6S per cent.
larger than in 1892. For the month thus far
The daily average is $40 per cent larger
than last year. and 66.4 per cent, larger
than in 1892 Moreover. this week and
every other week brings larger wages to
many. and increased purchasing power, and
the demand for products is consequently
expanding in all branches Of consumption.
The Mig Rise in Iron.
The rise in Bessemer pig iron to $l7.65
at Pittsburg, 81 in two weeks in grey
forge TO SIZES; in anthracite number one
here to $l6.75, and in local and Southern
al Chicago. results directly from the fact
that supplies are for the time less than
the demand. Many more furnaces are in
haste to begin work, some succeeding, but
others hlndertd by the difficulty of getting
prompt deliveries of needed parts of ma
chimes, or prompt supplies OF ore and fuel.
The fact that new orders now call for
.ess work than was done In April or
March is for the time hidden by the en-
gagement of nearly all concerns for
months ahead The largest and best
works are catching up with their orders
though much behind and obliged TO refuse
many, while others are entering the field.
II is proof of an astonishing demand that
after nearly five months this congestion
continues. and the rise In prices, includ-
ing advances of 80 per ton In plates aud
bars, are not forced or unnatural
Minor metals have followed London so
long that tin sticks at 1855 cents. though
stocks are large and the demand is re-
markably poor, ard lead at 4.45 cents,
though the demand Is slow, while copper
wealens TO 1879 cents for lake British
statistics indicate a fall Of nearly a quar-
ter in consumption for four months this
year compared with last
Wool and Cotton Market.
The heavy sales OF wool, 80 1854, 900 pounds.
at the three chief markets in three weeks
against 20.7S0300 for the same weeks in
1897, when the disastrous speculation of
that year had begun to turn and 14212,-
$50 in 1892 are mostly to spectators, as
manufacturers are doing scarcely any
thing. Weeks ago they held that prices
We're too high, even after some decline,
for the prices at which goods could be sold
But Western and Eastern SPECTATORS
have settled 1t that the manufacturer will
be forced to buy at such prices as they
may fix, and are taking large quantities.
The cotton mills have a fairly good de-
mand, after a considerable advance in
y.
The material has been steady at 6hc,
with no ground 20 expect much change,
and the best reports indicate a decrease
in acreage of 4 per cent
Situation with Cereals.
Wheat advanced cents, but lost near
ly all the gain on Friday. Western re-
cepts have fallen to about half last
years. and exports In four weeks from
Atlantic and Pacific ports have been TO-
$50 1853 bushels, -four included, against 49,
Sol 1872 last year, while from Northern ports
1926 ,0S7 bushels have gone out this year
But men forget that the foreign demand
If not as large as IL was last year with
famine impending, is much larger than in
the same weeks of 1887, when wheat ex-
ports were only 5.70i,334 bushels, and also
forget that the Letter speculation caused a
wholly unnatural May movement last year,
for the Western receipts in the.p past four
weeks, $3.50 ,665 bushes. compare with 49,
206.255 last year, but 1861 so in the same
weeks of 1897, and reserves In that year
We're not especially reduced, but closed
quite large enough.
Corn exports, though only 10 267, 662 BUSH
els, against 20.2S5, 097 last year, were also
but 9,3e0,C91 IN 1897
Failures for the week have been 1i2 IN
the United States, against 2i5 last year,
and 16 in Canada against q last year.