The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-12-01
GOLD NAY co OUT AGAIN.
Foreign Exchange Near the Exporting
Point.

The Closing of Sugar Rehneries an Un-
favorable Incident of the Week in
Trade Cireles-The Prices of Iron
Weaker-The Shoe Industry Doing Re-
markably Well for the season-The
Failures for the Month and Past Week.
New York. Nov. S0-R G. Dun & Co.'S.
weekly review viii say tomorrow: ''The
complete successes OF the government
loan, and the replenishment Of the gold
reserve have not percepubly affected busi-
ness, nor prevented an advance of foreign
exchange near to the exporting point.
''As January interest has soon to be
met. and the operations Of the syndicate
are thought likely to prevent much selling
Of the bonds to foreigners, some exports
of sold are not improbable.
1.-The closing Of sugar refineries will
diminish the industrial force more than
Il is increased by the resumption of the
Bethlehem steel works, and a few other
concerns. The controlling factor is that,
although in two instances wages have
been increased, the earnings OF the work.
ing force and its purchasing power are not
on the whole enlarging at present, and the
prices Of the chief farm products do not
materially improve.
"The great Industries fairly maintain
the production previously reported, but
cannot be expected to increase. at this
season.
"A few more iron works have gone
into operation. and the demand As re-
ported larger. but there Is distinct weak
ness in prices especially at Pittsburg,
and Bessemer iron, billets, nails and
some structural forms are quoted lower
The rail combination has agreed to a re-
ducton of 81 per ton for the next year.
Coke contracts are being made for the
first quarter OF 1895 at current rates.
THE shoe industry continues to do re-
markably well for the season, and the
prospect for the spring business Is fairly.
good, although trouble about prices oc-
casions some friction.
I'm textile manufactures there is more
strength In print cloths, but other cot
tons are somewhat irregular and weaker.
and the wooden manufacturers stin re-
ceives some orders for winter goods. but
the demand for spring Is much retarded
by unavoidable delay in filling orders.
Money commands better rates since
the sale OF the bonds, but there Is scarcely
any Improvement In the commercial and
Industrial demand and the flow of cur
rency hitherward Is as large as IL has
been at any time since September I'M
| porters make moderate demands and the
call for merchants is only for immediate
needs. There Is some fear of financial
legislation this winter; an agreement to
get rid Of duties on refined sugar is re-
ported, and host Of congressman are I'M
sisting upon monetary reconstruction OF
some sort. November payments through
the clearing houses are but S.2 per cent.
larger than last year and 23.9 per cent
less than In 1892
THE liabilities I'm failures for the third
week of November were $233S, ,93i,
against S2285.676 for the same week
last year The decrease was all in
manufacturing, Of which the liabilities
wero S9i5,826, against Sl.SS0,0N last year,
while in trading concerns the liabilities
were si.595,G40, against S.Ss4649 last year.
For the three weeks of November the Ii
abilities have been S8,sOs.4 429, against ST.
937.1f5 last year. The failures this week
have been I'm the United States 2s9, against
2u last year. and In Canada "a, against 70
last year"