The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-11-04
Two REVIEWS OF TRADE.
Confidence Restored by the Repeal Of
the Silver Bill.

4 The Tone os Trade More Confident in
All Parts of the Country-Bankers
More Liberal in Their Acconmoda-
tions, and Merchants More Hopeful
in Purchasing.
New YORK. Nov 3.-R c. Dun & Co. s
weekly review Of trade says: The re
peal of the silver purchase act does good
already The business world in every
part of the country rcckons it helpful,
and the tone of trade is more confident. 1t
is hardly time as yet for the effects to be
felt to any great extent in manu-
features. But bankers are more
liberal in accommodations, and mer-
chants more hopeful in purchasing.
II is well to remember that the act will
do less good than if il had been passed
early in the spring or without delay after
congress assembled. 1t cannot now pre-
vent several thousand failures which
have already occurred. nor relieve credi-
tors from resulting embarrassment. 1t
cannot now save from loss a multitude of
manufacturing establishments which
have closed because the future seemed
uncertain. 1t will 90 far to restore bust
ness confidence, which was much needed,
but many expect from the measure larger
results than can at this late day be real
lied
WHY PRICES ARE NOT HIGHER.
The action of congress had less visible
influence upon speculative markets for
products, in part. because the foreign
markets obstinately refused to accept the
higher valuations which SPECTATORS here
tried to establish. Though people
across the water award unstinted
praise to those who secured the passage Of
the repeal bill. there is not much DISPOSE
ton TO pay higher prices, on that account,
for wheat or cotton. In view Of the
great abundance of money at speculative
ccnterS, the weakness Of the MARKETS. is
the more significant
The industries could not be expected
to mako any material gain as yet in con
sequence of no financial conditions, but
the demand for textile products has to
some extent improved.
The metal WORKS industries manifest
little gain as yet The minor metals are
weaker on the whole, though speculation
lifted lead a trihe.
THE volume Of domestic trade gains
but little, exchanges outside OF New
York, being 1886 per cent. lower than last
year, for the week.
IMPORTS SMALL.
"Thc exports of products for the past
month have been about II 100000 larger
than last year, while the imports have
been about $40 100000 smaller, which in
dicates an excess of exports Of $50, 000,0 900
or more for the month.
The railroads have been doing little
better but returns do not yet come up to
those Of last year.
The failures for the week number 35S
in the United States, against 23S last
year, and % in Canada, against 81 last
year. Only five concerns failed with LA
billties exceeding 500, 600 each. The ag-
gregatC Of the liabilities for the week
ending Oct. 26 was larger than that of
late, amounting 10 s. 100000 against So,
100000 for the previous week"
BRADsTREET's OPINION OF THE SITUATION
Bradstreet's tomorrow will say: ''Tele-
graphic advices from many of the more
important business centcrs are that some
of the effects Of the passage of the silver
purchase repeal law are reflected in an
improved tone in financial circles
and the growth of confidence
OF merchants in the outlook.
But it should not be disguised that the
repeal is too late to have an effect on the
fall trade The earliest renOrted effect
of the repeal is seen in tlc improve
ment in the demand for commercial paper
at New York and some other centers
The only Improvement in the demand for
general merchandise this week is a slight
one at Minnesota, Iowa and Wisconsin
cities.
In the cotton districts of the south col
lectious are improved. The like is true
through the Illinois, Missouri and Ne
braska grain growing sections but the
country people are economizing rigidly,
and in the interior storckeepers therefore
refuse TO buy except for immediate needs,
although their stot ks are light.
STAGNATION STILL. PREVAILS.
"The long prevailing stagnation in the
iron and steel and wooden industries shows
no signs Of an early change.
THE cotton manufacturing industry is
relatively better situated.
There is evidence TOO, gilmore activity
in Shoes, brown cottons, tobacco AID
anthracite coal
The northwestern lumber cut viii be
! short this winter, but lumber is generally
! quiet Clothing has had a disappointing
) falldemaud. and tanners are waiting for
! shoe manufacturers to buy stocks of
| leather Contrasted with October last
year, the decrease is - per cent. and
! with tne two preceding OctoLers
the falling of is still hcal Ter. FOR ton
months the clearings aggregated @45, IA
/ $4,000, or per cent less than in the ten
months of S93.
Wheat is or again on heavier sup
| plies, the to.al available in the United
States and Canada and afoat for Europe
being lI2, S25, 900 bushels, the heaviest
/ NoF total on record
O ttober'S worlds wheat stocks
increased last months twice as much
as IN ls33 and in 1891, years OF hea ~
! products The exports of wheat, -four in
Guided equal :, 100000 bushels from both
coasts of the United States and Canada
this week. A year ago the total was
3,fl4,0Oo and two years ago, 3,S30,0OO
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