The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-07-15
BUSINESS IS ON THE MEND.
Money Less Tight and a Better Tone
Noticeable Everywhere.

Unusual Conservatism Still the Rule
but the Signs More Hopeful More
Imports of Gold Looked for but the
Exports of Products from New
York Still Below Those of Last
Year.
New York, July AR. G. Dun & Co.'S
Weekly Review SAYS: "There is a some
what better tone in business. becacse the
money markets are a little less stringent,
but it cannot be said as yet that there is
any distinct improvement. In every di-
rection unusual conservatism prevails,
orders are relatively small, the volume of
business is restricted and awaiting pol
icy rules New York banks have re-
ceived some money from the in
terror, but are not yet clear that it
is best to retire clearing house
certificates because there are said to be
weak spots which may yet require a lib
eral extension of credits. Other cities
have drawn less from New York because
their business is restricted. Some gold
has come already from abroad and more
is expected within the next week, but the
exports of products do not increase as
much as has been expected.
REPORTS FROM THE SOUTH.
'Trade at St Louis is very satisfactory,
with good orders for the fall and bust
ness ahead of the average for the season.
louisville reports easier money and
business fair in volume; at Nashville
trade is fair and at Montgomery improv-
ing; at Columbus it is fair with collec-
tions unimproved and at Atlanta satisfac-
tory in volume but collections are very
slow.
TRADE is dull at Augusta, through the
crop prospects are good
AT Mobile the crop prospects are fair
and trade satisfactory.
GOING SLOW IN FLORIDA.
Jacksonville reports country buying
small and collections slow.
AT Charleston the drygoods trade is
fair, and money easier, but collections
very slow.
cat New Orleans little improvement is
seen and money is very tight; but a bet
ter feeling prevails, for the crop prospects
are bright.
THE decrease of nearly 1000 tons in
the weekly output of pig iron is not Un-
expected this season, nor is it an unfavor-
able symptom The unsOld stocks have
decreased 10000 tons, but the markets are
dull and concessions common.
EXPORTS LIGHT
"The exports of products are light for
two weeks at New York being only Sl3,-
612,6i0 against $I5,919, 159 last year In
June the exports of bread stufTs, provis-
ions, cotton oil and cattle amounted to
$50, ,705, 1861 in value, against S42, 1872, 200 for
the same month last year, with note
worthy decrease il the quantities of
most products though in wheat and oil
the loss in value was due to prices
THE failures during the past week
were 374 in the United States against
1GS last year for the same week, and in
Canada 25 against % last year"
DEMANDS FOR MONEY NOT EXCESSIVE.
Bradstreet's tomorrow will say: "An-
ticipa tions of excessive demands on New
York banks after July l resulted in pre-
paratiOns to meet such requests and while
none such took place, the locking up of
funds by capitalists, bankers and others,
caused high rates for money early in the
week Further restricted commercial dis
counts resulted in several banks cashing
checks at the subtreasury instead of using
the clearing house, sand in other ways pro
duced a rather less favorable tinan-
cial situation than at the close CT
the preceding week, which, however,
has since been relieved. Chicago, too,
has felt an increase in the demand for
funds and New TOrk's relative inability
to supply the same was commented on
west and northwest. Thus far apparent
ly New York alone has increased CONNER
cial discounts, though only to a small eX-
tent Philadelphia. Boston, Providence
and Chicago have not advanced in this
respect as anticipated, but at the south
the prospects are much brighter, major
ity Of the cities reporting actual improve
4l Il !, 4,,I,
gain has taken place, although there IS no
rctrogradc movement.
REPORTS FROM THE CITIES
"The volume Of trade at Memphis is
unchanged except for seasonablG articles
in which it is larger.
"The early fall trade has opened at
Nashville and merchants there are conf
dent of fair business soon.
Business is dun at Richmond, except
for hats, dry goods and notions, in which
it is fairly active, with collections i'm
proved.
..There is some little improvement in
wholesale lines at Chattanooga due TO
commercial travellers having resumed
work, while at Savannah the business
situation is more encouraging and whole
sale grOcCrs report collections improving.
Mobile reports money easier and in
good supply" a phrase which has not
been seen in a long time.
"A larger volume of goods has been
distributed from New Orleans and there
is more confidence there that trade will
soon become fairly active because of
large crops Of rice, sugar and cotton to be
harvested in the lower Mississippi valley,
which will relieve the stringency.
Charleston reports brighter prospects
for trade and expects actual improve
ment when the liquor question is settled.
Birmingham, Alabama, and Houston,
Texas. have no new features in business
circles as compared with last week,
while in Atlanta trade halts to wait for
the coming crop. Jobbers and manufac-
turers regard the prospect as favorable.
Dallas says the wholesale trade is
larger than last year, but collections are
still slow.
Galveston reports no improvement in
this direction, and explains that country
merchants are asking extensions until
after the harvesting"
Pittsburg Secures Colcolough.