The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-18

The Improvement Sure, But NeCeS-
SaTily Slow.

I pOTLS IN OCLODeE OHAy pO4 sO74
1872, Against Ss4, 6s5,s16 of Ex-
ports - Gold Imports of Only
100000 Brought By the Enor-
nous Balance In Our FaYorS
The Fact Believed To Indicate
Heavy Imports of Securities
From Abroad.
New York, Nov. 17.-R. G. Dun's
weekly review of trade tomorrow will
say: Business is gaining, BUTT is a CON
slant complaint that the improvement is
slow. This is because very few realize
/ how heavy a load business has to drag
/ after it in climbing up again. Legislative
| uncertainties weigh heavily, but other
! loads many overlook. The past depres-
| sion, with trading and manufacturing
! failures involving more than $685.,
100000 in nine months, besides banking
| failures Of enormous liabilities, and fail
ures of railway and other firms, involve
| continual embarrassments which men are
| prone to forget. There has been great
! encouragement during the past week in
| the fact that the November payments are
| far more satisfactory than was feared,
| and yet the extensions Of the month would
have seemed alarming in other years.
| Merchants who collect part of the amount
due are rejoiced, but their buying power
] is not as large as usual. The
| extraordinary shrinkage in pur-
chases for consumption, if lessen
| ing has still made it impossible
for many firms to go on as before, and the
| largest failure of the past week, that of
! the Thurber-Whylaud Company, illus
! trates embarrassments which cannot be
| terminated in week or a month
MONEY NOT EASY.
Monetary difficulties no longer hinder
! 1t is true the treasury cash has fallen to
| S91 .3SS ,595. of which only So, 490, S91 was
| gold but there is no such alarm as there
| was when the gold reserve alone went
| below 500 100000 Business is not
| leaning on the treasury, and it is well
! that it is not. But while the imports in
| October were only SOL ,64l, 1S2, and the ex-
| ports Of products SS4 ,6S5 SIS, yet the
! enormous balance on mere landise account
| brought net imports Of only 81 600, 900 in
| gold. The exports represent a large in
| crease in the quantity of products sold
! but at lower prices, while in place of mer-
| chandise imported it is evident that there
| has been large imports of securities from
| abroad. The banks of New York hold a
! great surplus, and the fact now comes out
| that of the clearing house certificates re
| Gently issued, three banks took from So
! 100000 to $1,000 900, each indicating the
magnitude of the stock loans carried over
BRIGHTER SKIES FOR THE INDUSTRIES.
"The condition of the industries i'm
| proves, but they wisely wait the revival
! of purchases by consumers. Twenty-four
| works of all kinds have wholly, or in
| part, resumed, against fourteen closing
! Yet less than half the iron working power
! is active, and out of ninety-nine wooden
| works at the east, only ten are working
| full time, while forty-fve were shut on
| Nov l. The state factory inspectors re
port that, out of 10000 persons employed
| in textile mills in Philadelphia, only II, 800
| are at work.
"The great change in steel rails, which
are said to be selling at Pittsburg for $40,
| instead of 500, as a few weeks ago, has
given much stimulus to the demand for
materials, and western mills have also
| taken some large structural contracts
"a little better tone is seen in pig iron
and large orders are reported for cast
| pipe. But the whole business is still
| small.
The decrease in the volume of bust
ness through the clearing houses contin-
ues about the same and for the past
week was 1876 per cent.
The failures for the week have been
1924 in The United States against POS last
year, and 81 in Canada against 30 last
year"
NO INCREASE IN VOLUME.
New York, Nov. 17.-Bradstreets to-
morrow will say: General trade has
been irregular without actual increase in
volume.
"At the south improvement in demand
is noted in the Tennessee and Texas
cities
Heavy sales of southern pig iron, and
the breaking of the drOuth in the south
west, are reported.
Atlantic seaboard and Gulf state
cities, with few exceptions, report trade
very quiet, funds scarce at interior towns,
and country merchants permitting stocks
to run steadily down. Improved col
lections i'll Georgia warrant special no.
tice
The cold wave has stimulated the de-
mand for seasonable goods at Cincinnati,
Louisville, Chicago, St. Louis and Omaha
where unreasonable mild weather had
caused depression
THE TUMBLE IN RAILS.
"The demand for rails is checked be-
cause OF the cut from 500 to S2l in price
and the outlook for a further reduc-
ton.
AT eastern cities there is a more hope
full feeling, but no Improvement in the de-
mand except within day or two for
clothing, WOOlenS and Shoes
charleston jObbers report interior
stocks of merchandise running down and
> a continued disposition on the part of
= commercial travellers to select Gus
toners.
, The volume of general trade at Nash
vile is satisfactory and collections are
better and a sale of 81 600 tons of pig iron
2 IS regarded as encouraging.
, There is a gain in the movement of
l merchandise at Memphis. where dry
5 goods and collections are easier, but there
2 IS little improvement reported from Au
2 gusta, except in collections The receipts
} otcottOn continue free.
DULL AT ATLANTA
General trade is duh at Atlanta anc
, without feature, but with few complaint!
, of collections.
There is only moderate business at Sa
: yanuah, where cotton prices are depressed
by heavy receipts.
Country merchants in the vicinity O
birmingham are buying more freely anC
, appear BILE TO pay more promptly.
/ The recent tendency TO activity amonl
. the jobbers at Mobile is maintained The
volume of business at New Orleans ha.
declined somewhat because of inability u
$ export owing toia lack of tonnage The
, outlook now in view of Il hpttpr feeling /,