The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-09-16
R, c. Dun AND BRADSTREET
Weekly Review Of the Situation From
Authoritative StandpOintS.

According to Bradstreet's, is Being
Depressed by the 'Long-Drawn-
Out Indifference of the Senate o the
Wishes of an Enormous Majority of
the Business Community''-Save for
the Low Price and Shortage of Crop
in Most Parts, the South Retains
Her Relative Solidity, Notwith-
standing Widespread Uncertainty.
New York, Sept. 15.--R. G. Dun 81 Cos.
weekly review will say: Returs from
every part of the country show decided
improvement. A hopeful feeling prevails,
money grows abundant at speculative
centers and somewhat easier for CONNER
cial purposes. The number of establish
ments reported as resuming work, 81
wholly, and 26 in part, still exceeds the
number closing, 33 for the past week, be-
sides 10 reducing force; so that the hands
employed have somewhat increased. The
number employed is still very large The
great industries are still far below their
normal productiveness, and part of the
resumption of work has been secured by
lowering prices and reducing wages But
business is pulling itself together, and
even the crop report has caused little de-
preston in stocks.
Industrial Improvement is largely in
cotton and otherwise appears scarcely
more satisfactory than last week About
two-thirds of the Fall River mills are
operating, but at a reduction of 10 to l3
per cent. in wages, and there has been a
sharp cut in the prices of leading cotton
goods. Several shoe factories have started
in part, but orders are said to be not
enough to keep half the force in business,
though a distinct improvement is noticed
In all, Is metal works have started in part
and six wholly, while l3 have stopped and
IA have reduced hands orr wages
The output of pig iron Sept. / proves to
have been 81, 602 tons weekly, q decrease
of o., ,949 since May /, indicating that only
45 per cent of the productive force was
employed. Sales of gray forge for S7 at
Birmingham and of steel billets for Sl0.50
at Pittsburg, support the statement that
resumption of work in many cases is at
the expense of great sacrifice. But in
this industry business revives more yigor-
ously at the west than at the east.
An obvious effect of the short crops is
that railroad earnings may shrink with a
smaller demand the coming year for iron
products and for stocks. An abundance
of money seeking loans on collateral and
call tends to render the market indiffer-
ent to public abstentiOn and reduced
earnings.
DOMESTIC TRADE.
Restriction of domestic trade is shown
in clearing house returns at the principal
cities, which decline 23.4 per cent. com
pared with last year, but it is too soon
for improvement, just commenced, to af-
feet payments. Expectation of large
Cd
and exchanges have declined toward the
gold exporting point, as future exports of
products are liable to be restricted by the
shortness of crops and the advance
in prices here. Exports for the
week were large, and for two weeks have
been 30 per cent. more than last year,
while a decrease of 1880, 600 appears in
imports for two weeks. 1t is largely due
to the fact that values of coffeos and
sugar from Brazil were stated last year
in paper worth about 10 cents on the dol
lar. The liabilities of firms failing have
greatly diminished. The failures re-
ported this week have been in the United
States only 3l4 against Bl for the previ-
Gus week and l54 last year, and III Canada
n against 2S last year.
BRADsTREETs.
Bradstreets says: The starting up of
idle manufacturing industries has not
been as conspicuous this week as last, and
in most instances has been with reduced
forces and on part time The stimulated
demand for staples at the prominent
cities in the Ohio and Mississippi river
valleys remains the feature of the bust
ness week In other respects there has
been no real gain, and the long-drawn-out
Indifference of the Senate to the
wishes of an enormous majority
of the business community has
had a depressing effect on the commercial
situation. In addition TO the last weeks
favorable features of the money markets
are increased deposits. A heavy influx
of currency from the agricultural regions
is reported, and extensions of discounts
by few banks but there has been no
further increase in the volume Of general
trade throughout the country the in
crease in the volume Of bank clearings
within a week being more than accounted
for in other ways. At the south rela-
lively more favorable reports come from
Atlanta, Augusta and New Orleans and
west from Cincinnati, Louisville, St.
Louis, Omaha and Duluth, Such Centers as
New York, Chicago, Baltimore and Phil
adelphia are yet to feel a general expan-
sion Of demand for staples. Neither
wooden, cotton. iron nor steel industries
north and east are increasing their out
puts. Prices of almost all cereal and
meat food products, coffee and sugar, as
well as cotton and lumber, have advanced,
while quotations for steel billets, tobacco,
turpentinc, hogs and cattle have gone of,
Two weeks ago the number of failures
was 389; last week it was 279, and this
week only 300
Money is easier at Boston, but banks
are not discounting much more freely.
Wool sales are heavy, but at the lowest
prices, and the mills show no signs Of
starting up. Shirting prints are lower in
price. Cotton mills are not starting up
yet There is a better sale for fall and
winter dress goods. Ginghams, however,
are fat.
TRADE AT THE SOUTH.
Trade at Baltimore remains quiet an
increase in the number Of out-of-town
buyers not resulting in gains in the vol
ume of trade.
Richmond reports a slight gain in the
volume Of general trade, but industrial
assumptions are on part time and bank
ers are not making loans freely Charles
ton reports crops damaged throughout
South Carolina Is and 20 per cent, with
higher prices for food staples, but no in
crease in the volume Of business. Mem
phis banks are lending more freely, but
without appreciable change in trade con
ditiOns.
Trading remains restricted at Nash
vile, although the outlook is for improve
ment, the First National Bank having re
sumed on the 18th inst. Cotton receipts
at Atlanta are satisfactory, and iobbers
of frporaYsiag "A re sell inc franlu