The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-02-06
THE STATE OF TRADE.
Every Section Except the South Re-
ported as Doing Fair Business.

Every Section Except the South Re-
ported as Doing Fair Business
NEW YoRK, Feb. 5.-Business failures
occurring throughout the country last week,
as reported 70 r. G. Dun & Co., number
for the United States 273. Canada 40; total
3l9. against 297 last week.
In spite OF much dullness and complaint
in some important branches. trade is grad
ually charging. The east does not get the
full benefit, because the western business is
largely met by western distributing ceaters,
and that alone is increasing heavily, while
the southern trade, which is more largely
met by distribution from the east, is I'M
usually dull But the west is steadily in
creasing orders for manufactured products
and is likely to buy more largely In the next
five months than ever before. Eastern con-
sumption is also fairly up to the maximum,
as labor is well employed. StringencY at
the south, owing 70 the overproduction Of
cotton and hurtful speculation in the past,
is at present the only force retarding gem
eral Improvement
THE MONEY MARKET.
In financial and speculative circles, never
theless, some apprehension appears because
Of the advance in foreign exchange from
81 So TO "a 81, in spite Of the enormous mer-
chandise balances in favor of this country.
1t Is argued that this shows a very heavy
withdrawal of foreign capital from the
country, because silver legislation is feared,
or for some other reason, and that in effect
Europe will pay for breadstuffs and cotton
needed by surrendering titles to American
property. IL so, this country can fairly we'll
afford TO own itself.
Exports of merchandise continue TO
greatly exceed last years for five months
at New York by about 81 per cent. while
In value or imports the increase was very
slight. There is considerable evidence that
large blocks of American securities are be,
ing sold here by foreigners, but the market
has taken them without serious disturb
ance.
GENERAL TRADE.
At Philadelphia more orders are seen for
manufactured iron. and increased business
in dry goods. especially in staples, dress
goods being sold far in advance, while wool
is quiet with fair volume of sales. Cigar
manufacturers are busy and trade in
groceries and chemicals unchanged. Specu-
latton in products has been more active, but
in spite Of abundance Of money the tendency
of prices is lower. Wheat fell to 99% cents
here, but recovered over a cent, and
after sales of SO, 600 900 bushels is l cent
lower than a week ago. Western re-
ceipts diminish, but exports diminish still
more. Corn closed only an eighth higher
and oats three-eighth higher, but pork
products are a shade lower. Cotton is a six
tenth lower for spot, aud February has
sold below cents, receipts, continuing
enormous. Coffee is a fraction stronger
Silver has also fallen to about the lowest
price ever quoted, 41.56 pence per ounce, re-
covering slightly to 41.62 pence.
Great industries take progress In spite Of
low prices and production which seems to
threaten reaction. Pig iron shows little
concession at Philadelphia. and some shad-
ing here by southern concerns, and bar is
as dull as ever: light demand for plates.
Structural iron is unsettled by the collapse
Of the steel beam combination, and the
price has fallen to 90 cents. But
coming expenditures by great rail-
roads promise an unusual demand and
the news comes Of the opening Of addi-
tional furnaces. At the highest price de-
manded by agents, coal is exceedingly dull.
The boot and shoe business is getting better,
with more orders, but in some cases prices
are shaded a little.
More activity is seen in dry goods and a
large number Of western buyers are doing
fair business. The demand for spring goods
is growing, but clothiers are still in the
dark Cottons are affected by poor south
ern trade, but prices of some prints and
sheetings have been advanced, and orders
for knit goods are fully as large as a year