The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-12-29
BUSINESS NOT YET BRIGHT.
The Consumption Continues Below The
Production.


About 10 Per Cent. Since the Great
Auction Sale at New York Very
Little Done in Wooden Goods During
the Past Week-A Waiting Market
for Iron and Stsel-The Failures for
the Year Fewer Than in 1893, and
the Liabilities Less Than Half as
Large.
New York. Dec. 2s-R. G. DUN Co.'S
weekly review OF trade tomorrow will
say: THE commercial failures in 1894
already reported to Dun & Co. number
l4,292 against i5.2i2 last year, with Habll-
tiles OF As,23s i0i against S3is 10. $50 last
year. Next week the final report for 1884
viii probably include about 1000 more fail
ues with liabilities Of about s4.000o0o. From
these accounts banks and bankers, lnan-
cial and transporting companies are exchi-
! ded. The manufacturing failures already
number 2,55s against s,i22 last year. but the
liabilities are only SEA. PSI against si7s.-
sS2,09l last year. The trading failures al
ready number ii.sli against II .5l2 last year.
hut the liabilities are only SsT. so, ,05s against
| $3.50 O62 S3S last year. The abatement by
sections shows decrease OF about two
thirds in defaulted liabilities In the middle
and central northern states. one half in
the west and southwest and a third in
other sections.
Revision OF prices for cotton goods has
been the controlling feature since the
/ great auction, and wide sheetings have
I been marked down about 10 per cent. while
| changes all along the line are expected.
/ II Is no longer disputed that the coneum-
I ing demand has fallen below expectations.
and below the production which the mills
| kept up In the hope of increased consump-
/ tion.
Very little has been done IN woolen
1 goods. all waiting for development after
Jan. l. when the duties take effect
The market for iron and steel Is walt
/ ing, but the reduction In wages at the
Edgar Thomson works. averaging 10 per
/ cent, plainly indicates tho same difficulty
| which Is seen IN other quarters. that the
demand In consumption does not answer
TO the increase in the production OF pig
| iron. The shipments OF rails for eleven
months are rockonod at only 10000 tons.
/ Of which only 100000 are for new roads.
/ Numerous projects for steel buildings are
| under consideration. but no important
| contract is reported. IL gives some en-
| couragement that the bethlehem works
have secured a contract 10 make urmor
plate for Russia, but the order for case
| pipe for japan ~ stll in doubt. Prices
have scarcely improved during the week.
and Beasemer pig and billets are. II any
| thing, a shade weaker. There is larger
| demand In nails but in hardware, ma
| chinery engines ana railway stocks and
| materials the business Is much depressed.
"rhe shipments of boots and shoes
| from Boston have been 6f0,f7l cases In
the past two months. against 5s4.2SS In
| 1892, hitherto the largest year, but the
tions.
Money Is still coming to this city
| In steady stream, and the exports OF
| gold for the week are expected to be
about $2,JO0,O0O The dissolution Of the
bond syndicate on the ground that the
pending currency bill has destroyed the
market for bonds, is the most import
ant event In financial circles, and Is liza
able to have results OF some cOnse-
quence. For commercial loans the de-
mand has slightly increased, though only
as might be expected at this Season
THE failures for the three weeks of
| December show liabilities of Sl0,65i, ,937, OF
which S3.5G 765 were manufacturing and
! S6,75l,4l9 of trading concerns. The fall
ures for the week have been $50 in the
/ United States, against 511 last year, and
| Al In Canada, against Al last year"
Bradstreets tomorrow will say; Cen
eral trade presents the usual holiday char
/ acter. a majority OF the wholesale dealers
and manufacturers are beginning or have
| finished taking account of stock, or ar
/ ranging settlements for the new year.
/ The main activity has been for Christmas
! speclalties in retail lines The practical
| conclusion of holiday trade has brought
| about a moderate reaction, and this en-
! phasizes the dullness noted in the pre-
! ceedng weeks. Jobbers claim that the
! outlook for trade during the late winter
ard early spring is for very conservative
| buying. But in some lines, notably heavy
| textiles, the recent cold weather has slim
/ ulated sales and reports from retailers
/ west and south indicate that stocks are
/ low, almost beyond precedent. This is
\ taken as indicative of a better merchan-
| disc trade in the near future than for sew
eral years past The travelling statesmen
/ with few exceptions are of the road. Mer-
/ chants generally incline to the view that
/ 1895 promises favorable business, al
| though as indicated, opinion is divided as
/ to whether renewed activity will mark
/ the early months Of the coming year"
Industries are shut down in many in
| stances to make repairs and take stock,
| and owing to extremely low prices for in
/ dustrial staples, the wage movement tends
/ downward. Quotations for staple mer-
chandlse show much flrnness, with sugar.
cotton, wheat corn, steel. naval stores.
! tobacco, tin and copper practically un-
changed In prices Coffee is depressed
and there are rumors of contracts for iron
and steel at a shade under last weeks
quotations although unconnrmed.
Southern cities uniformly report a very
quiet trade in jobbing lines. Charleston,
Savannah and Augusta report collections
slow, but at Nashville, where merchants
regard the prospects for spring business
as reasonably good, collections are fair.
Manufacturers at Atlanta are doing little
and Chattanooga jobbers likewise A
moderately improved demand for funds is
announced from Memphis, and at New
Orleans the only gain is better feeling
I'm the rice market. Galveston notes the
exception with an Improvement expected
shortly after Jan. I, and wholesale mer-
chants in nearly all lines sending out
travellers"
India's Import Duties.