The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-01-13
TRADES TIDE IS TURNING.
Encouraging Reports Sent in From
Many Cities.

| Months-An Excess of Deposits over
Withdrawals in the Savings Banks.
An Increase in the Number of Indus
trial Works Resuming Operations.
New York, Jan. .-Bradstreet's to-
morrow will say: Especial kilograms
from leading trade centers to Brad
streets bring evidence not only OF much
that is encouraging regarding the out
| look, but that the tide has actually
| turned. 1t appears beyond question that
business in industrial and commercial
lines has for some time been at a low ebb,
| and that movement in the direction of
an expansion Of the volume of business
has appeard. The pendulum which
swung in one direction from May last
year until 1894 shall soon be seen swinging
in the opposite direction and Bradstreet's
points as evidence of that act to the in
crease Of "a per cent. in the production of
pig iron within three months, to an excess
of deposits over payments at some of the
largest savings banks in the United
States, and to resumption of work at in
dustrial establishments in all directions,
even though with lower wages, and on
shorter time, as contrasted with the
epidemic of shutdowns prevalent month
and more ago.
RISING AT VARIOUS POINTS.
''In addition there is direct evidence
that the tide is rising at various points.
IAN increased movement of farm stock
at Atlanta and a heavier demand there
for farm machinery and manufactured
| products is reported.
Augusta announces that cotton facto-
ries have orders ahead, while from
| Charleston and other points word is re-
ceived that, while the city trade is rela-
lively quiet, the "cross roads trade" at
the south is healthful and active.
Gas soon as the southern planters and
others have arranged with the factors for
the coming year the demand in general
| lines south is expected to assert itself
| more vigorously.
Merchants at Louisville have begun
to appreciate that the worst is over and
TO regard the future of trade hopefully
| There is more inquiry for whisky and to-
| bacco, the crop of the latter being short,
and prices advancing.
Every little is doing at Baltimore, and
| the outlook is not thought bright
AT Charleston, rice is l cent higher,
and there is a better feeling in trade cir
Giles.
cat Nashville shipping business is
! opening WIFI SlEllS VI lllt, anu INC IIduc
is fairly satisfactory.
There is only fair volume of bust
/ ness at Memphis, but at Chattanooga
there is heavier demand for hardware.
"a moderate volume of business with
| fair collections is reported from Mobile
and from Birmingham.
1.-The New Orleans money market is
| tighter on account of delay in securing
| bounty payments by sugar planters all of
which has an effect on general business.
| Little Rock says the trade is unfavor-
! able in all lines, and unreasonable
weather at Galveston has had an in
fluence.
From various portions of the south,
reports are received that cotton is being
held for an advance"
DUN ALSO SHIFTS THE CHANGE.
r. G. Dun & Co.'s weekly review Etc
morrow will say: Business has dis
tinctly improved since the new year came,
and the gain is no longer visible only in
the speculative markets 1t is the only
\ kind of improvement that has in it pos
sibilities of lasting, because it Dis based
upon actual increase in the production by
industries. As all rejoice to see ii, there
is perhaps little disposition
| to reckon the gain greater
than it is as yet, but several large
establishments have started with part
| force, hoping to increase, and more
| smaller works have started than they
| have stopped. Orders from dealers whose
stock approach exhaustion form promi-
nent cause; another is the widely preva-
lent impression that action at Washing
| ton will be more satisfactory than have
expected. and belief that in any case
the situation will not be changed until
goods now in the works can be marketed
has weight in some trades. Whatever
the causes, even moderate gain is most
cheering.
MORE IRON FURNACES AT WORK.
"Several more iron furnaces begin pro.
duction this month, and prices show nc
recovery. Indeed the Loormoor works OF
Virginia have reduced the prices of No
l foundry to $13 per ton, and finished
products are weaker steel billets and
bars again making the lowest price on
record, though the tone is more hopeful
both here and at the west, with a little
more business
Bank clearings indicate that no large
gain has occurred as vet in the volume OF
business, being 81 per cent. smaller than
a year ago. Money continues to pour into
this city, as it would not if trade an.
preached normal activity, and the de.
mand is so narrow that loans were SlOO,.
100000 below deposits. Foreign exchange
has risen cents in a fortnight, and some
look for gold exports again. Sales OF
! stock turn the balance, though foreign
houses are Offering loans here on long
| time
CONDITION OF THE TREASURY.
THE condition of the treasury causes
much remark. and the cash reserve is
lower than ever, and New York banks
have agreed to defer indefinitely demand
ing from the treasury about 1908, 900
due on mutilated currency.
Though the secretary urges provision
for the future, congress has not yet touched
the subject, aud with a great stock OF
gold here, the situation is less serious
than it would be otherwise.
. The returns of sales published last
week attract great interest as a moro
definite measure of the condition of va.
rious branches of business than has been
obtained through other sources. Addi-