The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-25
BUSINESS on The MEND.
Consumption Of All Products on the
Increase.


Clearing Houses Outside of New
York Only Slight Cotton Goods
Stronger.
New York. Nov 24-R. G. Dun & Co. s
weekly review Of trade tomorrow viii
say: Consumption increases slowly,
and all branches of business are waiting
for its growth. There has been a little
improvement in stocks, while the price Of
products has declined a little on the
whole. but the volume Of business has
somewhat increased.
Exchanges through clearing houses
outside New York show decrease of
only - per cent. for although last years
business at this season was extraordi-
nary. the week included the Thanksgiv-
ing holiday.
The railroad earnings for the month
thus far are only SO per cent. less than
those of last year, the decrease for the
last week being even smaller in freight
earnings.
Trade waits for the revival Of indus
tries and the weeks returns re-
specting industrial progress are rather
conflicting.
COTTON GOODS STRONGER.
"There has been q heavy sale of cotton
goods at very satisfactory prices, and the
market has strengthened in consequence.
Though the production in this branch is
still somewhat less than it was year
ago, the market for goods at current
prices is strong.
"a new compact of the steel rail pro-
ducers, the Pennsylvania and Maryland
works having been leased to others in
order to keep them idle, has checked any
increase in purchases of ore and coal and
other materials. and the Pittsburg manu-
facturers are playing havoc with eastern
markets, though the prices made in that
region are so low that their continuance
can not be predicted. There is a con
siderable increase in the number of con
Germs in operation. but there does not ap-
pear to be much gain in the actual con
sumption Of pig iron, and prices are as
low as ever.
BIG PURCHASE OF COKE IRON.
at is stated that British purchase of
5000 tons of Alabama coke iron has been
made at 1925 at the mill. Even in the
Pittsburg district where business seems
more active than elsewhere, the works
are not fully employed and the state of
the manufacture is shown by the return
of the Connellsville coke furnaces
GAS are in operation and II ,005 are
idle, the output being only 81, 755 tons
weekly.
Cotton is 1-16c higher, though consider
bly, depressed during the week, with re
eeipts of $4,000 against 100000 for the
same week last year and the belief in a
short crop does not outweigh the fact
stocks abroad and at home are 3,242 600
bales, about 40 per cent. of a full years
consumption.
MONEY PILISG UP.
Money continues to accumulate, and is
loaned at per cen.. on call, and as low as
per cent. on the best commercial paper.
There has been improvement in the
market since the successful sale of cot
tons, but the country banks prefer TO pile
up their balances here to be loaned at low
rates on call rather than TO buy paper
below per cent. Maturing notes have
been met much better than was expected
and throughout the country collections
though slower than usual, show
stronger condition of trade than has ever
been known Immediately after a financial
revulslon. The exports continue to exceed
the imports largely For three weeks at
New York the exports were so, 5lS 34l,
against SD 469. 1886 last year, while the
imports were 81, 934 ,029, against $97 ,15S,-
943 last year.
BOW THE DIFFERENCE IS EXPLAINED.
In October the excess of merchandise
exports was SIG, 600, 600. and with allow
ance for undervaluations of imports and
for interest due abroad. there would still
be heavy balance due this country,
which does not appear to have been met
by movement of securities. as Europe
seems Of late to have been buying rather
than selling The phenomenon probably
indicates settlement of commercial loans
made during the period of the panic
The failures for the week number 3S7
in the United States, against $50 last
year, and "a in Canada against 30 last
year. But the list this week includes
some Of more than usual importance.
For the preceding week the liabilities of
the firms failing amounted TO only 8. 526,-
sl2, against So III ,467 the week fore,
but the weekly average is far beyond
what 1t would be in times of prosperity"
STIMULATED BY COLDER WEATHER.
Bradstreets tomorrow viii saw;
"a feature has been the stimu-
lus to sales of seasonable staples by colder
weather in the northwestern cities. Sec
ond only in Importance are improved col
lections at Atlanta, Chattanooga, Louis
vile, Omaha, Duluth and St Paul
The relatively stiff prices for wool at
western centers places that staple there
above parity with western quotations
and checks the movement
Leading dry goods jobbers at the
larger distributing points report only
moderate volume of business, but take en-
enlargement from the Unexpectedly brisk
demand and good prices realized at the
auction sale of staple and fancy cotton
goods at New York.
" New England cotton mills report sales
slow and the demand for woolens dull.
yet wooden manufacturers have a few
orders ahead, and more are starting up.
At Baltimore there is only a moderate
trade in general merchandise. although
reports from the south point to improve
neut.
The large tobacco crop has depressed
prices.
There Is some improvement reported
from Cincinnati, where manufactures are
increasing the outputs.
Trade remains unchanged at Louis
vile. except that the demand for tobacco
Is stronger.
IN THE SOUTH
at the south improvement is noted in
collections as well as in the demand in
various lines at Atlanta, Savannah. Chat.
tanooga and Birmingham. Fertilizer
debts are being paid more promptly than
IN previous years, although easier money
at those points affects only the best name
paper.
'Charleston reports trade very quiet
Jobbers are choosing customers and coun.
try buyers taking for needs only. About
% per cent. Of the South Carolina rice
crop escaped the cyclone, and is now com.