The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-07-08
BETTER TINES IL SIGHT.
The Tone In Business Circles Clearly
Improved.

Early Settlement or the lnanclal
/ FURRY Prices Show a Slight Ad-
vance and the Crop Prospects Clearly
Improved.
New York. July 7.-R. G. Dun s. Co.'S
weekly review of trade will say: The
/ tone in business circles has possibly i'm
proved. This is partly because the banks
/ have been rendered more hopeful of an
/ early financial settlement by the calling
1 of an extra session Of congress partly be-
/ cause of some recovery in prices from the
/ sudden depression which followed the de-
/ cision to close the India mints, and partly
/ because the crop prospects have clearly
/ improved in spite of the dismal reports
from some sections. On the whole there
! has been a little better distribution of
| goods to consumers, and perhaps the
| countermanding of orders given some
months ago is not quite as frequent as it
was last week. The more hopeful symp-
( toms are gladly noteC, but while the
| causes of depression remain it would be
rash to calculate that difficulties will not
/ reappear. Large sums of money will be
! required to move the crops and in the
/ present state of the money markets some
/ stringency is not improbable.
/ Business in Baltimore is very dull.
/ Iron has hap another drop at Pitts
! burg, though many furnaces are closing.
/ A reduction in cost is expected from the
/ wages settlement.
Cincinnati reports little improvement
| with close money.
IN THE SOUTH.
AT St Louis trade is quiet, but col
/ lcCtiOns very fair, while banks are still
most cautious.
/ Nashville and Knoxville report bet
ter feeling, and Montgomery quiet
| trade
AT Little Rock business is very dull,
| and at Augusta and Atlanta quiet with
money comparatively easy.
| Galveston reports the situation fairly
! good in Texas. with few failures, and the
! prospects of more than an average corp
/ Banks care for customers, but discOur-
! age new loans.
! New Orleans notes no improvement,
money tight and collections slow, but the
! crop reports excellent, except in the over
! flowed sections.
AT Mobile the banks are more free:
! at Jacksonville trade is fair, but cOllec-
| tions slow and the banks cautious, and at
! Charleston the tone improves, though
money is tight. Trade in groceries is fair,
| and in other lines moderate.
THE IRON MARKET
''The market for pig iron and steel rails
| is very gloomy, rail makers having about
reached the end of their orders vet the
| consumption of pig has been $500 tons
! larger for the half year than for the half
/ year of 1892, the stocks being reduced 1885,
| 600 tons. Heavy contracts for iron have
| be en- made by agricultural implement
W orks, locomotive works were never
buster, the Cramp and other ship yards
are well employed, hardware, stove and
other snacial works are busy with good
| prospects, and yet the prices for pig are
quite demOralized by southern pressure to
sell, and, in general, the prices of iron
| products are the lowest ever known
! Money has grown easier, but it is still
hard at most points to get accommoda-
tions, as banksu are preparing for large
! demands
Foreign trade shows little change, the
exports being much below last year and
| the imports quite large.
Stocks are dull and inactive with some
| signs Of more foreign disposition to buy
but prices are only fraction higher
The mercantile failures during the
week number 324 in the United States,
against l5S last year, and % in Canada
against 49,"
BRADsTREET's NOTES THE IMPROVEMENT.
New York, July Bradstreet's to-
morrow will say: "SOme improvement
| in the financial situation in southern cities
is noted, and at the west, St. Louis and
| san Francisco make like reports, while in
! the east the corresponding change is al
! New York, where there is better tone
due to the completion of the July set
Elements, although, as at Boston, CONNER
| cial paper remains practically unstable
in the open market and discount rates
/ are as extreme as from = to 10 per cent
New York banks, however are providing
somewhat more literally for regular Gus
toners, which is in part Offset by COM
parative tightening of the purse strings
! at Chicago, due TO the demands of coun-
try banks for re-discOunts and the tying
up of funds in wheat. Money has been
shipped east from New York to provide
! savings banks with funds against possible
Withdrawals of deposits, but a slight in
flow from the west is reported.
mo improvement in the iron and glass
industries is looked for until there is a
change for the better in the financial
situation. Many iron mills have shut
down for repairs and stock taking.
IMPROVEMENT IN THE SOUTH
''Nearly one half the southern cities
| specify modest improvement in either
general trade or the financial situation.
! SeasOnable lines distributed from Rich
| mOnd report slight gains in volume,
although collections are difficult. There
are increases in the sales of groceries and
hardware ut Memphis, and there is i'm
provement at Chattanooga, while at Sa-
vannah the volume of sales in general
lines has increased and mercantile col
lections are made more promptly, with
| money easier.
Mobile banks are lending more freely,
but the volume of trade is the same.
There is a better feeling at Nashville.
but money continues close and the volume
| unchanged.
Business is quiet at Charleston. Very
few liquor houses have closed entirely
"A better feeling is also noticeable at
Atlanta, due to the favorable bank state
ments July 1.
There are no new features to report
from Birmingham, but business at New
Orleans continues restricted, owing to
the stringency and continued high water
although the influence of the latter is
said 10 be gradually disappearing.
Texas crop prospects are reported ex-
cellent at Houston. Galveston reports
that no gains in the trade situation need
be expected for thirty days and that in
terror banks usually supplied with funds
/ from the east have applied TO Galveston
institutions for relief without avail"
HANGED FOR ARSON.
The Accused Protested His Innocence