The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-01-28
HIGHEST SINCE LETTER DEAL
SPECULATIVE ACTIVITY IN WHEAT
PUTS THE MARKET UP.

big Demand for All Glasses of Iron
and Steel-Many Combinations Tn
der Way-Lumber Trade Takes an
Upward Trend-Genernl Industry
Active, Especially in Coal Mining
and Ship BuiIdinE-ExpOrts of Ce-
reals for the Week.
New York, Jan. 27.-Bradstreets to-mor-
row will say:
The apparently steady rise In the tide of
general business has been diversified this
week by an outburst of speculative inter-
est in number Of staples, notably cotton
and wheat, which heretofore registered
steady gains on actual consumptive distri-
button.
Color Is given TO this claim by the fact
that the situation of actual wheat shows
but little change from recent weeks. 1t Is
true that the tendency to pare down alleg-
ed official estimates of Russian crops and
some weather reports from the West have
been more encouraging to the holders of
actuaf wheat, but the magnitude of The
outburst of new buying. shared in by for
mer persistent shorts in wheat. alone hard
~ explain the activity in this market
which has resulted in the highest prices
reached since the colapese of the Letter
deal.
Activity so demand for nearly all classes
of iron and steel is reflected in advance for
nearly every class Of pig iron and In steel
billets. rails. wire and plates.
consolidation N Feature
Announcements of a large number of
consultations and combinations, projected
or under way. are also feature
In the DOMAIN of other metals notably
copper and tin, speculation and actual de-
mand alike bring about higher prices.
Better reports are received from the lum-
Der trade in a number of cities, and all
the old advances are maintained with con-
hdence in the outlook for spring business.
Some improvement in the dry goods
trade is TO be noted at Eastern points
notably Philadelphia and Boston. where
advances in cotton are maintained.
Wool. though firm, is slow of sale and
finished products. with the possible excep-
tion of dress woolens, do not move as
freely as hoped for, a feature this week,
in fact. being the very low prices an
nounced by some manufacturers
General industry Is reported active, nOta-
bly, soft coal mining and ship building.
An encouraging feature in the former
trade has been the wage settlement made
with 100000 Western coal miners for an
other year.
Shipments of the Cereals.
Wheat, including -four, shipments for
the week aggregate 4997572 bushels
against 5,19S.6n bushels last week, 5.026, 02s
bushels IN the corresponding week of 1898
2.5l5,40S bushels in 1897. 21.55O.2O6 bushels in
1896, and 24S3, S5S bushels in 1895,
Since July ! this season the exports OF
wheat aggregate 144. Do. 29l bushels. against
LAG, 49, $50 bushels last year.
Corn exports for the week aggregatinp
1856, 1913 bushels. against 2.92S.19l bushels
last week, A,926,559 bushels in this week a
year ago 3.011,s COZ bushels in 1897; 3.Ig7. 0St
bushels in 1886, and 942. 46l bushels in 1895
Since July 1. this season, corn exports
aggregating s5,7l5,923 bushels against 81.
9S37SS bushels during the same period q
year ago
Business failures are fewer in number
aggregating PIG, against 262 last week p,
in this week a year ago 326 in 1897 80.
in 1896 and 81 in 1895.
Business failures for the Dominion OF
Canada for the week number 32 against q
last week, 49 IN this week year ago. 3,
in 1891 s. w 1886 and IS in 1886