The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-04-15
NEW RECORD FOR BUSINESS.
SUCH EXPANSION IN ALL LINES
HERETOFORE UNKNOWN.

Increased Clearing House Payments
Are Not Due TO Speculation Alone.
Industries Are All Doing Wen.
The Iron and Steel Market Holds
Its own Right .AIOng-Things Are
Bright in the Textile World, and
Failures Are Decreasing.
New York, April AR. G. Dun & Co S
Weekly Review of Trade will say to-mor-
row:
There is still an increase in all legitimate
business, and the productive power. OF
great industries increases even though
some of their stocks decline. The sharp
reaction in speculation week ago in no
way affected the producing capacity of
furnaces or mills, and has been in part
recovered, while the disturbance of BUSH
ness caused by the formation of great
combinations has in large measure ceased
The money market is in safer and more
wholesome condition, and in spite of four
heavy payments by large syndicates,
amounting to about $5O,OOO,OOO. has grown
easier. The only stringency has been M
call loans.
1t is not owing to speculation alone that
payments through the chief clearing
houses have been so per cent. larger than
in the same week of 1892, and 1888 per cent
larger than last years.
New York transactions far exceed those
of any previous week. 81, l6s 5o2, 709 In
amount, but outside of New York the
clearings were 415 per cent, larger than
in 1898, and 44.6 per cent. larger than IN
1892. The truth is that no such expansion
i'm the general business of the country has
ever been seen before, and if such records
only were considered, there would be
ground for fear that wild passion of
trading had again lifted the whole bust
ness community off its feet
But instead there is found surprising
increase in the chief industries. Naming
first some of those of which only returns
of raw materials imported give definite in
dications, raw silk imports increased 81
per cent. for eight months of the fiscal
year over last; hides, 40 per cent; india
rubber, rs; tin, 81, and tibers, 10 per cent.
In the Iron Market.
The output of pig iron April l was 245.-
796 tons weekly against 22S 1876 March /,
with 115.11S tons decrease i'm stocks I'M
sold and 1850 in warrant stocks, indicat-
ing consumption in manufacture of L.
056,043 tons in March. The haste of forty
other furnaces to get into operation with
their possible output of 10000 tons more
weekly, has helped to keep prices of pig
quite steady although strong, but the de
mand for finished products is far from
satisfied
Plates have sold at $40 for sheared at
Pittsburg, but the leading mills there and
elsewhere a for he
and many will not quote at all. Large
contracts were closed in structural works,
one for 5000 TONS just before the advance
in prices, but Chicago orders this week
cover 5000 tons building work and every
where there is much business in sight.
Bar and sheet mills are hindered by
prospects of consolidation, but though few
orders for bars are taken just now at me
West, the Philadelphia market is more
steady.
The Connellsville coke product, 179, 1853
tons for the week, surpasses all records,
and prices are steady as before quoted.
Lake copper is strong at 1S1h and scarce,
and tin went up swiftly with London de-
Ginning only TO 251Ac. -
The Textile Market.
In spite of some strikes because wages
were not raised as much as had been ex-
pected, the cotton industry has a very
good demand, and most of the mills are
working satisfactorily.
A Southern combination of fine goods
makers is proposed like that of the Fall
river mills, which has kept prices quite
steady of late.
Wooden mills have begun to buy wool
more largely, though at prices much of
their own making, but there is improving
demand for goods with light weight pur-
chases continuing surprisingly for the sea
son. Sales of wool at the three markets
have been 16,794,000 in two weeks, against
1886 900 last year.
Wheat advanced about 15c, accounts of
Injury discovered since April supple
menting the government report. Were the
worst of the stories true there is yet spring
wheat seeding to make up for deficiencies,
though the season is getting rather late.
Exports have been reduced Atlantic -four
included, amounting to 1850, $50 bushels for
two weeks, against 5.2S5 1888 last year, and
Pacific to oA, 1862 against 2,Q93,942 last year,
with other exports 806,5T bushels.
Corn is a shade stronger, and In two
weeks exports have been CHA 93 bushels
against S,146,6S1 last year.
Failures for the week have been 1888 in
the United States against 254 fast year, and
% in Canada against IS last year.