Savannah morning news. [volume] (Savannah) 1868-1887, 1882-11-28
The State OF Trade
Philadelphia Record.

FHttddetptt0 record.
The general business situation contip-
ues unsatisfactory. Trading is moderate
in most lines, and the season is nov foo
far advanced to admit of any marked or
general improvement before the close of
the year. There is a good deal of dissatis-
faction in mercantile circles with the ra-
suits Of the seasons business to date and
early anticipatiOns Of the extent and VOL
ume of the fall trade have been realized
in very few departments. Now that the
approaching period for stock inventories
and the annual settlement of accounts
naturally influences a quieter feeling i'm
most of the wholesale markets. tbp
prevalent tendency to conservatism is
increased by the apparent depression
i'll the iron and steel industry and some
branches of textile manufacture. as we'll
as by the continued stringency of the rates
for money and the unsettled and declin-
ing market for stocks. These disturbing
influences manifested toward the close Of
somewhat Disappointing season nat
urally awaken distrust and promote cau-
ton until a clearer discernmento Of the CON
ditions of the near future becomes posi-
bic; but there is no general apprehension
of serious commercial depression. and
apart from these disquieting elements the
situation presents many features of en-
couragement.
In detail the markets have undergone
little change during the week Leading
staples of manufacturing supply. eXcept
iron, have ruled fairly steady in price. with
demand in all cases, however, regulated
by immediate requirements. The weaken
ing tendency of prices on iron and steel.
and the generally unsettled condition Of
the market have limited trading. The
opinion is gaining ground in well-informed
quarters that the depression in this in
dustry is not so great as it has been pic
tured, and that the reports cpRcerning its
present and prospective condition through
out the State, which have caused so much
uneasiness in general business circles. have
been exaggerated in order to furnish
more apparent justification for a reduc-
ton of wages and to scare off threatened
Congressional action against the existing
tariff. Textile production is less active.
and is embarrassed by a slow market for
goods. This is particularly the case with
local manufactures. Reliable authorities
estimate that nearly, if not quite, 80 per
cent. of the capacity of city and surround
ing mills running on low grade cotton.
shOddy and similar fabrics is idle or work
ing very irregularly and on part time.
The anthracite coal trade is only moder-
ately active. Vessels for Eastern ship
ment continue in small supply, and
freights have again advanced. Prices
rule steady on domestic sizes of coal, but
on stocks for manufacturers purposes
they are frequently shaded.
The grain markets have ruled stronger.
In England there has been an advance
equivalent to about two cents per busheI
on this side i'll cargOes of wheat for prompt
shipment, but this has been more than
offset in its effect on the export trade by
the increased cost Of ocean freights arising
from the scarcity of vessels at all Atlantic
ports. shippers, however, have manifested
considerable interest in the market. The
visible supply has increased about OPT
900 bushels. Interior holders are still in
different about selling, Notwithstanding
the fact that five cents per 100 pounds will
be added to present rail freights on the LIST
of December, the expectation being that
Eastern prices will improve sufficient
ly to cover the rise in rates for trans
pOrtatiOn. This firmness in the West.
in connection with the better inquiry for
exports, contributes to the present
strength of seaboard markets. The grow
ing scarcity of old corn has enabled New
York spectators to manipulate values
pretty much at pleasure, and at one time
as high as 81 10 was paid in that market
i'll settlement of November contracts. The
sudden advance has stimulated the ship
ment Of all available lots from near mar
kets to that port, and thus has influenced
a propOrtionate Improvement in prices in
all Eastern grain centres. Receivers gen
rally anticipate an active export trade in
corn as soon as it begins to come forward
in sufficient quantities Of suitable quality
for shipment. The weather of the past
week has been favorable for an early
movement, but this, however is still con
tingent upon the continuance of a cold,
dry season.