The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-06-03
TRADES SKIES CLOUDED.
Tight Money and a Feeling Of UR-
certainty Reported.

Number Of lQle IA AuAlACloAAe5 vi
the Increase The Exports Still Be
low Last Years in Value.
New York. June r. c. Dun * Co. S
weekly review Of trade viii say: "NIore
dishearteninr conditions have prevailed
during the past week and those who saw
the beginning of permanent recovery in
the better tone "a week ago are disap-
pointed The money markets have been
closer. especially in the interior, and
manufacturing and trade are more af-
fected than before Some important
failures haveoccurred, including one bank
at Milwaukee Gold has gone out again
in large amounts. the exports for this
week being about s5,O0O,OO0 and the
treasury gold reserve has been drawn
down 10 about S90,0O00O0. In nearly
All DEPARTMENTS of trade I'M
certainty about the future has a
depressing influence which is now
clearly perceived in the decrease of new
business. and while most manufacturing
works are yet employed on full orders, as
these run out the number Of works closed
increases
philadelphia reports much disturb
ance in iron on account of the change in
railway rates but there is a large demand
for materials for trolley and other cleo
trical railroads.
THE iron trade at Pittsburg is less en-
couragiug; pig is weaker and finished iron
very low in price with weaker ten
dency.
st Louis reports satisfactory trade,
with very fair collection. Cotton and
corn are moving literally, but loans are
curtailed to the minimum and there IS no
market for local securities save at buyers
prices.
AT Little Rock trade is dull with cob
lections slow, and at Knoxville not i'm
proved.
Atlanta reports fair trade and close
money and slow collections.
Augusta reports slight improvement
IN trade. with improved farm prospects,
but tight money and slow collections.
Columbus, Ga, reports collections less
favorable and money very tight, and at
Macon trade is quiet, collections slow and
money close.
Mobile finds trade reasonably good,
with larger shipments OF vegetables, and
money easy.
AT New Orleans business is only fair,
but building materials are very active
and the crop prospects, though backward,
arc promising.
Jacksonville notes a little falling off,
and at Charleston tradei in dry goods ana
shoes is duh, and in groceries fair, but
jObbers are cautious in selling.
Uncertainty about freights, labor,
crops and finances make the iron trade
gloomy The prospect of trouble with
the amalgamated association sustains the
present demand for finished products and
HIGHER freight rates raise the prices of
pic, not to the advantage of sellers.
structural mills are yet well en-
plOyed, but at prices which return scanty
profits.
The exports of products still fall be-
low last years in value, and there
is much withdrawal of money loaned in
this country on foreign account. The fact
that 50 000, 600 of such loans mature with
in the next week leads to the expectation
of further exports of gold. Money on call
here has somewhat advanced, but there
is strong complaint of difficulty in getting
commercial loans.
''Ihe failures during the past week
have been 23S in the United States, against
Us last year, and q in Canada, against
81 last year"
BRADsTREET's REVIEW.
BradstTeet's review viii say tomorrow:
''Some effects of the prolonged stringency
IN the domestic money markets are char
acteriZed in detail in special kilograms to
BradStreet's this week. General trade
has already been cut into noticeably in
the eastern and middle states; to
marked extent in the central, northwest
eTn and western states, but to a more
moderate extent south. Interviews with
several hundred prominent jobbers
manufacturers and bankers at lead
ing money centers indicate a like
lihood of continued stringency, and
that general trade may be restricted still
further. The opinions offered are not
altogether gloomy with respect to the out
look, but banks are calling loans in many
directions and in other ways strengthen
dng their reserves and very generally re
fusing to extend or grant discounts to
other than regular customers. Efforts
are making to protect certain lines of
trade, notably grain.
MONEY LENDERS CAUTIOUS.
''Money lenders are affected by the pre-
.valent sense Of uncertainty in the finan-
cial world, and do not regard the outlook
rs encouraging. If the foods in the re-
gion tributary to Memphis continue to
fall as within few days, little damage
may result to the trade of that CITY
Banks there are discounting only for Gus
toners, and credits have not been affected
yet by tight money, the demand for &C
'cOmmodation being light. Nashville job
bers are buying more carefully and sell
ing only to those regarded as solvent.
Money is close, owing in part TO the re-
suits of the bank failures in March"
CONSERVATISM AT RICHMOND.
"At richmond trade is quiet, with no
Increase over 1892. The banks are carry
ing for customers, but making few loans
so as TO increase their reserves, and NOR
chants are scrUtiniZing credits and re
stricting sales. This is also true as to
trade and banks at Charleston, the vol
ume of business being smaller than a few
weeks ago, with the grocery trade notice
ably checked.
AT Atlanta there is no Improvement
nor prospect of special gains soon, the
conditions prevailing being those referred
TO.
ALL QUIET AT SAVANNAH.
Trade at Savannah is quiet and col
lections slow, naval stores alone being
steady, with a good demand. Banks are
making few loans, and charge one-eighth
premium on small checks.
."COllectiOns are slower at Birmingham.
Ala, and greater caution is exercised in
granting credits. Bankers do not look
for improvement in the near future
THE small movements Of merchandise
IN New Orleans has been reduced further
by floods, and banks have been calling
loans tC strengthen their reserves. and
now owe other banks less than usual
Money has hardened but regular Gus
toners are cared floor ''