The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-08-19
.NEILL NOW HAS THE FLOOR.
DIE TO HIN THAT COTTON Is OFF
THIRTN-ONE POINTS.

nm 4 GO. say Official and other Es-
Inmates of the crop Are smaller.
But the Wan Who Was Right n
Year Ago Carries WeiGht-shiP-
builders can't Get steeI-Prices on
Irou Away Up-Whent and Corn
Are Up.
New York. Aug. lS.-R. G. Dun & Co. s
Weekly Review of Trade will say to-
morrow:
The Cramps have discharged many hum
drod hands and ask Russia to extend the
time cor the completion of two warshlps
because they cannot get the steel. The
completion Of twenty-one out Of thirty
seven vessels building in the Delaware IS
also affected. it is a curious experience
for this country. ana shows the gigantic
expansion Of home demand
No one can question the fact that pay
ments through the principal clearing
houses have been IN August 500 per cent.
larger than in 1892 for the month thus
far. and outside New York o per cent
No better test Of the volume of business
is known. but there is a growing handi-
cap in the advance of prices. How lone
and how far this advance con go with
out reaction is the problem which level
headed business men are studying. Evil
dences Of cholled consumption are rare,
but it would be childish to hope that at
some point higher prices would not hinder
buying.
In iron the question is of steel billets,
which the great consuming companies
have bought far in advance, so that all
new orders have a narrow market. For
six months bilets have sold at "a 10 IS
higher than the rails made from them.
Other demands. not covered by contracts.
are mainly for various shapes and sizes
only prescribed in contracts. While prices
have risen % cents for Southern pig iron,
so cents for Chicago local coke and 70
cents for grey forge. at Pittsburg rails
have advanced 81 per ton, with work COW
cred for all this year and 100000 tons or
more taken beyond what can be delivered
until next year.
Other finished products do not change.
although the demand at all points exceeds
present capacity. Copper is steady at lSlac
for lake. with production for July. 2l.3j3
tons, domestic and 1890 tons, foreign Tin
is lower at 3OAc, and lead weakens on the
Cotton rose a week ago to 6.5Oc, but has
fallen to 6.19c, Mr.. NELL having estima ed
the coming yield at II, 10000 10 100000
bales. Officials and other estimates are
all much smaller but the man who judged
rightly a year ago has the floor COnsump-
ton here and abroad has been very large,
and prices of goods are rising while cot
ton falls. Stocks carried over must also
be large, but will be less than present re-
turns Indicate For wool, Coates circular
for AugJ 1 sun holds good, although inside
quotations are more often made.
Sales for three weeks have been 1893 $50
pounds. against IS, 1886 500 last year, 49, $50 3O5
in 1897, and %, S65 400 in the same weeks Of
1892. Goods have advanced farther espe-
cially in casimeres, eheviots and cotton
warp cashmeres. The tendency is upward
in nearly all grades.
Wheat has advanced about cent during
the week, with Atlantic exports only 1858,
302 bushels flour included, against 3,O59. $50
last year; Pacific exports, S5l,39 bushels,
against 10 400 last year. Western receipts
have been only 3,Zl2,l17 bushels against g.
$50 220 last year IL is a question whether
the smaller receipts are due TO recent
changes in crop prospects giving holders
Of gram "a better outlook. Exports OF
wheat IN three weeks have been from both
coasts. -four included 9,976,74 bushels,
against 101l4246 bushels last year
AMI the Western receipts have been
Il .S6i ,696 bushels, against 9O15,1S9 last
year, but it is also significant that corn
has risen three-eighths of a cent, with re
ceipts of 3.O26 692 bushels for the week
against 3,5l4. 1862 last year, while the ex-
ports have been 4.04,3O2 bushels against
2.370,302 last year. The figures clearly dc
not indicate material decrease in foreign
demand in the whole, although for wheat
it is somewhat smaller than appeared in
July
Failures for the week have been, in the
United States, 156 against 1874 last year
and in Canada "A against II last year.