The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-01-27
A BOOM BOUND TO COME.
All the Conditions For Better Times
at Hand.


Demand For Staples Will Necessi-
tate the Turning Of Every Wheel
Now Idle-Money Going Begging
For Borrowers.
New York, Jan. OR. G. Dun &
Co.'S weekly review Of trade tomorrow
will say: Secretary Carlisle's decision
20 issue bonds, and the early reports Of
large bids for them, helped to accelerate
the recovery Of industries and trade, as
was hoped last week. The sale Of the
amount offered will check anxiety about
the maintenance of note redemption, re-
move the only pretext for further issues
of paper, and thus give a solid basis for
greater confidence regarding the financial
future.
THE increase in the number OF hands
employed adds to the purchasing power
of the people, and dealers stocks are so
reduced that any sign Of larger consump-
tion quickly gives mills more orders. In
short. the conditions are such that, II not
interrupted by adverse forces, they
would naturally bring steady revival Of
business.
THE INDUSTRIAL GAIN
s'The Industrial gain is more definite
than a week ago. Few establishments
have stopped work, while many have re-
eumed or increased production, and
Enough these are not works employing
thousands each, the aggregate increase Is
considerable. Reductions of wages con
tinue, and about a quarter Of them are OF
20 per cent, the rest ranging from TO IL
per cent.
"In no direction are the quotations of
manufactured products higher, but while
some have actually declined, the general
tone is somewhat stronger.
THE IRON MARKET.
THUS, distinct improvement is seen in
the demand for iron products at Phila-
aelphia, though for some, which 1t was
Thought could not go lower, quotations
have been reduced. Sales of pig are
larger. though $40 so is now the open quo
tation for Bessemmer at Pittsburg, and
Southern forge is sold for s. IS at Birm-
ingham, the lower price telegraphed last
week having been. it is stated, for lot of
inferior quality. The Tennessee Coal and
Iron Company has made contracts for ore
which reduce the cost of its iron 221{
cents per ton. and lower contracts for ore
and freights are also reducing the cost TO
consumers of lake ore. ConnelIsville coke
is quoted at 81 per ton, with the
number of ovens in operation
practically unchanged. The increase in
the demand for iron products is mainly
in structural forms, cast pipe, wire rods,
barbed wire, and wire nails, while in rails
and other railway iron business is re-
markedly small.
TIE TEXTILE INDUSTRIES.
1.-THE textile industries have increased
their working force mainly in knit goods,
underwear and carpets. though several
wooden mills have started and others are
reported about 10 start.
'Cottons are not stimulated, as was
hoped. by the auctions announced, and
the effect has been to make buyers Of
other goods hold of, so that the market is
weaker.
NEW YoRK's aLUT OF CASH.
1.-THE New York banks again added to
their enormous stock Of money, and offers
are made for full year at per cent, the
lowest rate on record for that period
while for short loans l per cent. rules.
Decentralization in silver was caused by
abandonment Of the proposed import duty
by the government of India, and also Of
the fixed price for council bills at London,
but foreign exchange is not seriously
altered. Domestic trade is the key of
the situation, and the clearings outside of
New York are "a per cent. smaller than
a year ago. This is partly because the
average price of commodities is 1873
per cent. lower than year ago, having
fallen As per cent. since Oct. 1, while
British prices, according to the London
Economist, fell 2.5 per cent. from Oct
to Jan. l.
"The failures in the United States
were 430 this week against 255 last year,
and 55 in Canada against 40 last year.
None are of great magnitude"
BRADsTHEET's ON THE IMPROVEMENT.
Bradstreets tomorrow will say "The
improvement in industrial and CONNER
cial lines heretofore reported continues
to grow moderately, and shows gains
from week to week, although more con-
spicuously in manufacturing than in
commercial lines. This is indicated
by the record of sixty-two assumptions OF
more important manufacturing establish
ments this week, compared with seven
teen shut-downs. The sudden and severe
changes in the weather has checked ship
ments OF merchants at many western and
northwestern points, although orders for
seaSonable goods have in many instances
been increased with the cold and storm
Stocks Of general merchandise at interior
points almost without exception remain
light, and although purchases from Job
bers are generally for nearby wants, the
accumulation OF these is aggregating a
considerable volume.
More conspicuous increases in sales by
iobbers are of dry goods, clothing, shoes
and hats.
IRON AT CUT PRICES.
There is a much bettr demand fol-
iron, although at cut prices, and quota.
tons in some lines of iron and steel are
below the figures at which it was sup
posed possible 10 produce it.
The sales of raw wool are large
notably at Boston, although quotation.
are shaded.
The demand for gtnghams, prints and
general "wash fabric'," from eastern lob
bers is steady only cuts in prices in some
lines being the principal inducement tC
buy. Dress woolens are quiet though
the spring styles have opened
Eastern cotton mills are active, bu
their product is not selling freely.
aside from the depressing influence O
the unprecedent edly low range of price
for leading staples heavy drag on gen
eral trade now is the uncertainty as t
the outcome of the tariff legislation.
MONEY PILED Up AT PHILADELPHIA.
"The accumulation of funds at Phila
delphia emphasizes the dullness, blu
there are gains in sales in some lines
notably among jobbers of dry goods an,
manufacturers of morocco.
Baltimore reports that the hopeful
feeling continues, and that the sales o
millinery, crockery, glassware and drug
are larger.
There is slight improvement in mer
chandise lines at Pittsburg, where tn
raw iron and steel markets report i'm
proved demand.