The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-10-06
PRICES ON A Low LEVEL.
Farmers to Buy Few Manufactured
Products.

Wheat and Cotton at the Lowest Points
on Record During the Past week-The
Largest Yield Ever Known Looked
for If the Weather Continues Favor
able.
New York, Oct 5.-Bradstreet's to-mor-
row. Oct. s. will say: While no radical
change has appeared this week there are
features of the situation pointing to con-
tinued progress in the direction Of i'm
provement. This is true Of the country
at large From the south the most favor
able report comes from Jacksonville,
where wholesale trade is good and retail
trade improving. Merchandise is moving
satisfactorily from Savannah and from
Charleston and Chattanooga.
Nashville finds announcement in in
creased bank clearings although collec-
tons have been disappointing.
Business has been fair at Memphis in
dry goods, shoes and clothing, and at At
lanta the volume Of trade has increased
ten per cent. in most leading lines.
Improvement is also shown at Augusta
and the volume of sales Of groceries and
hardware from New Orleans has in
creased. Galveston and Birmingham, Ala,
report no changes.
r. G. Dunn &, Co.'S weekly review Of
prices ever known for wheat and corn
necessarily imply somewhat restricted
consumption Of other products. With the
chief money crops of the west and south
sinking in value II is not strange that the
purchases of manufactured products are
smaller than was expected. Wheat has
touched the lowest point ever known for
options and cotton the lowest ever known
IN any form with the present classical
ton, and the accumulation of stocks in
both products is discouraging purchas-
ers for an advance. Producers are com
PEELED to sell at prices below the ordinary
cost OF raising crops, and in some west
ern states there is also a lamentable fail
ure OF the corn crop. Under the circum-
stances It would be very strange If the
demand for manufactured products should
be quite as large as in other years.
Cotton is one eighth lower, the cash
price being the lowest known for As years.
and considering the difference in CLASH
ncation II is perhaps lower than at any
time in 1919, and estimates that the croD
is more than 100000 bales are more com
monty credited now than estimates of
$4,000 were two months ago. With ia
Vorable weather the yield seems likely to
net the largest ever known.
Cotton print cloths are shade
stronger, as the news from Fall river re-
garding the duration of the strike is less
encouraging, but for other goods the mar
ket is slow, as might be expected in view
OF the heavy decline in the raw material.
The condition Of the industries is in
some respects more satisfactory. Evil
IDENTIFY there is a larger demand for iron
products than there was a month ago.
though the increase in output has been
somewhat greater than the increase in
the demand, so that prices steadily tend
downward.
"Bessemer pig is selling at $40. 90 at Pitts
nI1FR ipnn
at s11.05. while a contract to suppress the
principal western competitor in nail man.
fracture to hold the price at 81 for wire
and IS cents for cut nails,
The structural market is fairly active
at the west without change at the east.
and while the coke output has now he
come the heaviest ever known 149 775 tons
Tor the week, the price is declining and
steps are being taken to limit the supply.
The volume of domestic trade Indicated
by the exchanges at the principal clear
ing houses is lis per cent. larger than a
year ago. but In comparison with 1892
SHOWS a decrease Of 22.S per cent
In the money market more commercial
paper Is coming into sight, though on the
whole the market is by no means encour-
aging, and good single name paper has
been placed at per cent, the lowest rate
on record.
The commercial failures in the third
quarter of 1894 have involved liabilities of
S2s,S6l, ls6, exclusive of banking institu
lions and railroads, against $50, 469. 82l re-
ported year ago for the same quarter.
ana Tor nine months of 1894 the liabilities
nave been $l3l,O94,502 against $25l, 1874. 265
Iast year. The manufacturing liabilities
were SIZ'S5l'S92 against $23, 1854 reported
year ago, and in trading S14131. $50 for
the quarter, against $58,S14, 176 a year ago
Aor the month of September the liabiIi-
Ties nave been smaller than in any other
month this year only $3.50, I24, of which
$3.50. S13 were Of manufacturing, and a.
ooo,osz OF trading concerns. The failures
Ior the past week have been 219 in the
United States, against 800 last wear ana
% IN canada, against 45 last year.