The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-03-24
MONEY BILL SATISFACTORY.
MANY CATIONS FOR THE NEW
PER CENT.

Increase in Bank Circulation Is Al
ready over s1O,00O.c0o - Money
Markets. However, Are Undisturb-
..d-SettIement of the Carnegie
Prick ContrOVerSy-COtto Holds
ID We'll and There Is a Heavy EX-
port Demn nIl-Movement OF Corn
and wheat.
New York. March Z3-R. G Dun d; Co.'S
weekly Review OF Trade tomorrow VIII
say:
In is first week Of operation the new
monetary bill has given satisfaction 70 the
treasury and 10 banks. Applications for
nov rer cents have exceeded El0 oUf0l
ard the net increase in bank circulation is
already over 100000. As the rate at
which new circulation can be- issued is
limited. except for banks wnich gave or
ders in advance Of the passage Of the bin
ADD the issues at first are largely for the
increase Of notes 70 the par va.ue Of bonds
deposited. l,,le can yet be inferred gard
Tag the other increase. though Applications
indicate that it will be- large for interior
hanks. The release Of millions emplogel
ia preparation for action under the ne"
measure has caused in bank returns con
siderdabl changes which are nominal
rather than real ADD The money markets
are undlsturbe5.
The reported settlement OF the Carnegie
Prick controversy is Of the greatest I'M
t1rtance TO the iron and steel industry.
FFhe combination Of interests may prove
revolutionary in its influence. Whether
markets Will bee Immediately affected IS
not clear As yet the tendency toward
reaction Of prices continues.
Heavy Demand for Cotton.
Cotton holds at SIC for SPOT, with heavy
export demand though futures are weak
er European stocks in sight With mili
stocks reported by Ellison, cover consump-
rion al the rate ne reports for large
part but not for the whole OF the crop
wear remaining, and the visible supply IN
tbis country s. being sold al terms which
make the f50C00 bales exported this month
worth more than 67O0 600 than would have
been worth a year ago, when only 2H1D
went abroad IN the same time Receipts
have exceeded last years for the Week,
Enough not for the month
The goods market here is only strong ~
demands for immediate need, few caring
10 base future dealings on present prices,
while some make concessions for distant
deliveries.
The London wool sales have shown
shade more strength than those Of last
month and considerable American pur-
chases Of some grades indicate the true
position Of the prices asked here. Yet the
markets here are called stronger in tone.
although Of the sales reported much the
greater part were at concessions, and
manufacturers are doing very little Sales
a. the three chief markets were only T.
$50 go pounds Of which 377l,500 were do,
nestle. The state Of the goods market
does not encourage manufacturers to pay
the prices now asked, and the business Is
sfill disappontingly restricted
shipments of Cereals.
The advance in wheat which followed
statements Of the quantity in farmers
hands has not been maintained, and the
decline the past week has been l2s cents,
corn also yielding about nc. Atlantic ex-
ports were 1.7530 26 bushels for the week.
and for three weeks only 4,762,
~. against s,73O374 last year. Re-
oelpts at Western points in three weeks
have been II 81. 23l. against 10. ,957 last
year Meanwhile Pacific exports
heavy, and in three weeks have been g.
Is, 523 bushels. against 1G56,Z77 last year.
The foreign demand for corn stll lessons,
although 2342, III bushels went abroad dur
ing the week. and in three weeks, 8,459 $40,
against 1923, 4s5 last year
Failures for the week have been ls3 in
the. United States, against 300 last year,
and q In Canada. against q last year.