The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-11-07
DUN'S REVIEW OF TRADE.
A SLIGHT INCREASE N THE NUM-
BER OF FAILURES.

The Collapse of the Maverick Bank
the Feature of the wsek-Money
Temporarily Scarcer ct New York
en- Account OF Withdrawals by
Boston-Crops Moving Freely and
the Outlook Good.
NEW YORK, Nov. 6.-The business fail
ures occurring throughout the country
during the last seven days, as reported to
r. 6. Dun & Co, number for the United
States 223, and for Canada 43, or 2G6, COM
pared with 255 last week. and 249 the week
previous. For the corresponding week last
year the figures were els.
The failure Of widely known bank at
Boston was the striking event Of the week
but has caused establishment rather than
disturbance. The Withdrawals Of money
from this point to fortify Boston have
caused higher rates. per cent. here against
a week ago, but supplies continue to come
steadily from Europe.
ENGLASD's INTEREST RATE.
The Bank of England does not ch ange its
rates. though losing gold largely. and the
official treasury report shows an Ad dition Of
S33, 0O0. 600 to the actual circulation of all
so that it seems scarcely possible that any
important monetary disturbance should
I~arise at present. 1t is also a
reassuring fact to eastern capitalists
and investors that the western elections
| have resulted in the complete defeat Of those
| who advocated wild financial schemes, so
that their power in the next session OF con-
| gress is likely to be much diminished.
BUSINESS HEALTHY.
l
| show that business, though interru pied
somewhat by the elections, has been healthy
and large in volume. At Boston the failure
| of the Maverick bank caused some IN
easiness, but business continues steady
and healthy, no lack OF confidence
is seen and money is easy. Tile only cities
reportings monetary pressure are Omaha
| and Savannah.
The iron industry, in spite of the lowest
| prices ever known for some products, shows
no dependency. and the demand for manu-
| featured iron and steel does not diminish.
THE DRY GOODS TRADE.
| The trade in dry goods looks little better
| Spring woolens are in rather more demand,
the dress goods season is fairly satisfactory,
and agents have begun to show overcoat-
iugs with fair results. The recent decision
as to worsteds opens the way to largely
| increased imports.
to last years, but for the whole season
thus far it has been considerably larger.
SPECULATION IN BREADsTUFFs.
Speculation has lifted wheat 1910, though
the western receipts continued enormous
The exports for the week thus far are about
equal to those of recent weeks. Corn has
| declined 10. with some 1hat in-
| creased receipts at the west,
and cotton sc, with very heavy
receipts at the southern ports. Oil, pork
products and hogs are some What lower.
but coffee is &c higher. The general
average of prices is shade lower for the
week, and the markets are less embarrassed
than usual by cliques maintaining artificial
prices.
LABOR WELL EMPLOYED.
In the main labor is well employed, with
few controversies about wages. Stocks
have been weak on account of the failure
at Boston and some selling by foreigners,
but show little better tone at. the close.
The treasury continues to add new notes
to the circulation in exchange for silver
purchased, but the price Of silver bullion
| has dropped to 931S per ounce.
| Throughout the country collections seem
to be fair for tie season, and on the whole
| gradually improving.