The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-12-23
TRADE NOT BOOMING YET.
The Volume Of the Holiday Business
Smaller Than Usual.

Much Business Done at Prices That
Return No Profit - Increased De-
preston in the Iron Business in the
East-No Material Improvement in
Wooden Manufacture - The South
Holding Up Better Than ANY Other
Section.
New York, Dec. 22.-R. G. Dun & Co. S
weekly review Of trade tomorrow viii
sav: The year is practically over, except
the holiday business, which is remarka-
bly, well sustained as respects the num-
Der Of sales, considering the state Of in
dustries and the army of the unemployed,
but is materially diminished in volume
because purchases average much smaller
in value than in recent years. Other
business, all branches included, appears
from clearing house returns PSI per cent.
less than last year at the same
date. But much business is done at
prices which return no profit, merely to
keep hands together, or retain customers,
and the losses by numerous and heavy
failures reduce profits even where the
volume of transactions has given fair
promise The changes during the past
week have not been cheering in charac-
ter, but the minds of many are now turn
ing to the dawn of the new year, with
hope of better times.
IRON MANUFACTURE.
'The failure of the Crane Iron Com
pany at the end of last week with some
other smaller failures, outweighed the
influence of the resumption of work by a
few iron works. and has increased the
a cir ut 10 flpCCauprs i1Ou iC
shipped 70 Philadelphia from Pittsburg,
where it sells at Sl0.75 and grey forge
sells for $685. at Mahoning valley fur
naces: but even in that region the manu-
facture keeps only 8 ,425 of the COnnells-
vile coke ovens at work, while 9,0S5 are
idle"
1.-THE reduction in the prices of bleached
cottons last week, and of leading wide
sheetings this week has been less effective
in stimulating trade than was expected,
and print cloths are selling at 3 cents.
The wooden manufacture has started
three more mills, but six have stopped,
one employing 5000 hands, and others are
reported about to stop when the stocks in
hand are worked up.
THE BANK FAILURE.
''The closing Of the ST. Nicholas bank,
with liabilities of s., 753, 900, caused no ex-
citement. Custom has hardened the
street to reports of failures, and it is gen
orally expected that the close of the year
may bring more than usual.
Foreign trade still shrinks, the reports
for three weeks having been 10 per cent.
less than last year, and the imports at
New York 20 per cent. less.
1.-THE failures for the week were 344 in
the United States against 2S3 last, year,
and 81 in Canada against Is last year,
THE DEPRESSION WIDESPREAD.
Bradstreets tomorrow will say: 1.-THE
features of the business week are the in
creased uniformity in the reports that
general trade is quite as much or more
depressed than previously; that holiday
trading has been unsatisfactory and far
below that Of year ago, and the contin-
ued closing down OF important industrial
establishments, reductions of wages
and increased instances where
short time is being enforced.
Nearly all the staple markets are quiet
almost to stagnation, the exception nav
ing been cotton, the price of which was
stimulated late in the week by a revival
of confidence in low crop reports With
the exception of Augusta. Ga. and posi-
bly, one other point absolutely no claim to
even a slight improvement in any line of
business is made at any point this week
Restriction of Industrial prod uction
and commercial output at Boston con
.tinue features of the situation, which is
true at Philadelphia where the usual
orders for January and February de-
livery at this season are not received
Sales of lumber have declined so per
cent, and the shoe and leather markets
are dull. Very small stocks will be
carried over by 1obbers at Baltimore.
where funds are easier and pushing col
lections is prominent.
IN THE SOUTH.
COLLECTIONS are pressed by Richmond
fC.l e.,,Ay,
toh piis S'0'A'' 1 H0 IKE Is 'rO9 al OnarleS-
AT Savannah naval stores are firm and
prices advancing.
''Sales are light at Atlanta, and manu-
featuring is only moderately active, but
at Augusta all lines of business show a
larger volume of trade and the manu-
featuring industries report the demand
fair
Trade is quiet at Memphis, Birming-
ham and Nashville, the demand for gro
ceries and for Christmas specialties be-
ing the only ones noticeably active.
There is a small increase in the vol
ume of trade at Mobile, although it is less
than year ago.
1.-THE country merchants in Southern
Alabama are buying conservatively, but
the lumber mills in that vicinity are more
active.
AT New Orleans the bulk of the cotton
and sugar crops are reported marketed :;
orders from 1obbers are small, and there
are no new features.
AT the larger Texas cities, the situa-
ton remains as week ago, with fair col
lections and moderate volumes of trans
action"