The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-05-13
TWO REVIEWS OF TRADE.
Legitimate Business Not Hurt by the
New York FURRY.

Large Losses Through Speculation in
| Grain and Real Estate at Chicago
Reflected by the Failures in the
! West-The Shrinkage in Stocks in
New York the Heaviest for Any
Single Week Since 1873.
New York, May l2.-R. G. Dun & Co.'S
weekly review of trade will say: The
smash in industrial stocks a week ago,
the failure of some firms and of the Ma
tional COrdage Company, and the largest
decline in stocks known in any week since
1873 have been followed by surprisingly
little disturbance. Business has shown
remarkable soundness and strength under
such a strain, though disquieting rumOrs
are naturally frequent. The bank fail
ures at Chicago and indianapolis, and
rumOrs of others, reflect large losses
through Chicago speculations in real es-
tate and grain, and at indianapolis
through the failure of the Premier
Steel Company, but commercial credits
are not as yet materially affected. There
is more buying Of commercial paper than
a week ago, and while foreign exchange
has risen above the exporting point no
gold is yet ordered for shipment, as bank
ing houses reckon upon larger exports of
products before long. Interior money
markets are growing tighter and
more cautious, but no such stringency is
yet seen as to check general trade, which
appears to have somewhat improved with
more reasonable weather.
THE SITUATION IN THE SOUTH.
AT Little Rock and river southern
points the danger of high water retards
trade
collections are fairly good in Tennes-
see and Atlanta, with quiet trade, rather
slower at Atlanta, somewhat improved at
Augusta, with more active trade in
groceries, and fair at Savannah. where
the trade in naval stores is active. At
Mobile trade is satisfactory; at Charles
ton, brisk in dry goods and good in hard
ware and shoes, though the liquor trade
is unsettled by the new law.
AT New Orleans trade is only fair,
though sugar is strong, rye in active de-
mand and lumber and building materials
active. The overlooking of the lowlands
in the YazOo delta arrests collections and
trade in that region.
THE weekly iron output May shows
200 tons increase for the month, and is
80 greater than year ago, while the I'M
sold stocks decreased L 900 tons in April.
Good pig iron is scarce, but some south
ern brands are pressed for sale. The de-
mand for bar plate, structural and sheet
iron is better in volume without improve
meut in prices.
The business failures during the last
seven days number for the United States
257, and for Canada %, total of $50"
GOOD WEATHER HASN'T HELPED.
Bradstreet's tomorrow will say: ODE
spite the favorable effects of bright, warm
weather the condition of trade has not
improved. There has been no change in
the condition of southern trade except the
depression due to the threatened over
flows in the Lower Mississippi valley.
Leading southern cities, except New
Orleans and Dallas, report general trade
quiet. 1t is dull at Memphis and only
small lots of merchandise are moving
from Nashville.
Charleston says trade is slow and the
prices of -four are up.
There is an active demand for shoes
for fan delivery at Atlanta.
AT Savannah trade is quiet in all lines
except naval stores, where it is brisk.
Mobile and Birmingham report the
demand quiet and collections slow, and
Galveston states that rains throughout
Texas have retarded business, while Dial
las reports trade good in all lines and
that rains benefited the dry districts.
There has been an increase in the vol
ume of trade at New Orleans, although
complaints are received there of too much
rain. High water and the breaking of
levees look threatening in the northern
portion of Louisiana"