The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-06-08
DULL BY DISASTER.
TRADE CONSIDERABLY INTER
RUPTED BY THE FLOOD.

Sales Of Southern Pig Iron Heavy at
Former Prices-rhe Destruction of
Bridges, Locomotives, Cars and Miles
of Track Increases Business in Those
Lines.
NEW YORK, June 7.-R- G. Dun & Co.'S.
review of trade for the week says:
The calamity at Johnstown has touched
all hearts and seriously interrupted business
at many points. Other disasters by food in
Pennsylvania. Maryland, New York and
Virginias have involved enormous loss of
property, interrupted traffic even more than
the billiards of last year and entirely
change the situation in the eastern lumber,
coal, iron and steel trades Producing COM
panies Of the first Importance have suddenly
ceased operations and their orders must be
filled by others or be delayed. The flooding
of many coal mines cuts off supplies of fuel
for many manufacturing works and the
stoppage of the Cambria mills and furnaces
which produce yearly over 100000 tons of
iron i'll various forms, will affect the trade
for some time.
INCREASES BUSINESS.
The destruction of more than forty
bridges, about half of them on the Pennsyl-
NduId DS,luSS lOCOuUllNeS,
cars, and mics of track, has created a sud-
den demand which is felt in all iron and
steel mills. Vast quantities of lumber have
been swept away and thousands Of houses
and buildings must quickly be replaced, re
quiring vast quantity of supplies and
stores. 1t is impossible as yet to estimate
the effects in various branches of trade,
but the demand for many kinds of
iron and steel products is already felt in
nd adu
iron, however, does not change as yet, pro-
du ton previous to the disaster having
been much in excess of the consumption,
and while some production capacity Is cut
off, quite as much of consuming capacity is
also stopped by the destruction of manu-
featuring establishments or their cessation
for lack Of fuel.
SOUTHERN PIG IRON.
Southern sales of pig iron have been
heavy at tirmer prices, but %, 900 tons Of
rails have been sold, and the price is firmer
at $27, while structural, plate and tank,
and bar iron are stronger, and an advance
is looked for in nails.
The transactions in anthracite coal have
been limited at the late advance, but the
tone is stronger. Many soft coal mines are
cut off for tae present, and the movement
from the Pittsburg district is interrupted by
the lack of boats.
TENDENCY TOWARD HIGHER PRICES.
Wheat and oil haye been lower, but in
other speculative markets the general ten
dency has been toward higher prices.
Limited foreign demand and the pressure
of accumulated stock depress wheat frac-
ton and -four 10 cents per barrel, but corn
is about half cent stronger. Cotton has
advanced one-sixteenth, bu5 the annual
statement of the acreage and condition
of the Financial Chronicle indicates an in
crease of 3 per cent. in acreage to $780,
009 and better condition than year ago.
Coffee is &c stronger but the market is dull
because co lsumers prefer to wait. Sugar
has been advanced quarter, and the sta
tistical position is considered strong, but the
growth of demand for consumption as yet
is only anticipated. Some grades of leather
are little stronger, and confidence in the
boot and shoe outlook is abated.
DRY GOODS.
In dry goods trade is fair for the time of
the year, though prints hardly equal ex-
pectations as 10 the volume of business,
and print cloths sell at 81 for Gas. The
new demand for woolens is light, but there
is firmer feeling and an advance in price
is expected. Flannels are selling fairly at
about the auction price. Reports from the
interior show fair volume of trade in
progress except where disasters have inter-
rupte1. In those localities business is pros
trated and many individual losses will call
for the indulgence of creditors. Elsewhere
collections are on the whole rather dull
The business failures occurring through
out the country during the week number
for the United States 200 and for Canada
%, total of 225, compared with 215 last
week