The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-12-22
BUSINESS NOT MUCH BETTER
Exports Of Gold and Uncertainty About
Congress Cause Fear.


Slight Increase in the Orders Given
to Manufacturing works-The Holi-
day Trade Poor at Most Points-Ex-
ports Of Merchandise at Last Larger
Than the Imports-The General Ten
deney Of Prices Downward Despite the
Increase in Orders for Manufactured
Goods.
New York. Dec. 2i-R. G.. Dun g. Co.'S
weekly review Of trade tomorrow will
says: But for the large exports OF gold
and uncertainty about financial legisla-
ton. the indications would be more en-
couraging. Some Increase is seen in the
orders given to manufacturing works.
though until the year ends the force ac-
tually at work naturally diminishes
The holiday trade has been rather poor
at most points. partly owing to mild wea-
ther
There is distinctly more conhdence
shown about the future demand for in
dustrial products, though prices are not
better
Domestic exports increase a little,
though eXportable staples are not better
IN price. In November the excess of mer-
chandse exports over imports was $685.
@l. besides 03i In silver and the De-
cember returns Indicate as large an ex-
cess. For this very reason the exports
OF S5,S320n In gold since last Friday and
the withdrawal OF about three times
as much gold from the treasury are the
more noticed. Money continues TO ac-
cumulate here, and there Is no enlarge
ment In the legitimate demand for COM
mercial loans. though some offerings OF
paper, apparently to prepare for yearly
settlement have excited remark
Larger orders for manufactured prod
ucts have appeared, yet, except IN boots
and shoes the general tendency OF prices
is downward
Steel billets sell at SIS at PittsburE,
and Bessemer pig at $3.50 al Valley Mills,
and IN other products the tone Is on the
whole weaker. except that structural
Deans hold the recent small advance. Yet
quite large transactions are reported In
pix iron and billets, and improved demand
for bar and nails, while nothing Is doing
lI lAHs' ana the business In sheets and
plates ia light Competition between the
works In operation for business which il
not enough to keep them employed pushes
prices IN many lines below the ordinary
cost OF production.
THE heavy auction sale OF cotton goods.
resulting In prices about 10 per cent. be-
low those previously current, and the
announcement on numerous reduotfona
Ia prices by agents are Thought by some
TO show that many mills have accumulated
larger stocks IN advance of consuming de-
gnhnd than has been supposed. Quite
large sales have followed, but the market
~ sun irregular and uncertain.
Inc volume of domestic trade does not
get better, in comparison with last year
when II declined. Exchanges for thc
week here are "a per cent. larger than
Iast u tooy year. but S31 per cent. less than
"a m. lSSs g, and for the month the daily aver
age nus been b9 per cent. larger than last
year. but 26i per cent less than In 1889.
Ihe Withdrawals OF gold from the
treasury n have been over S2l 100000 since
placement OF bank gold which was re-
duced by the purchase of bonds. Yet il
ls plain that the desire of foreigners to
get Bold instead OF stocks. and Of Ameri-
cans to get gold instead OF notes, rapid
ly takes from the treasury whatever was
gained by selling bonds.
The failures have been somewhat more
important. The reported liabilities for
the second week OF December amounted
to S2'n4.6O and for two weeks Of December
the. aggregate has been $3.50, ,401, OF
which the manufacturing liabilities were
2,466,ll4 and the trading liabilities $4O7f,-
529, But last year the liabilities in the
failures of the same two weeks were sil-
6IS,J96 of which no less than $5,174, 494 were
OF manufacturing and only So, ,7S4 OF
trading concerns.
The failures for the rast week have been
Si9 In the United States against 34 last
year, and SO In Canada against "a last wear
New York, Dec. A.-Bradstreet's TO-
morrow will say: The volume OF trade
continues small, as expected from the evil
dences of shrinkage within the month
Unusually mild, unreasonable weather con-
tinues to check the distribution Of coal.
heavy clothing, shoes and rubber goods
northwest, south and throughout the CEN
trail west and eastern states, although at
the larger cities the favorable reports as
to holiday goods and specialties at retail
are for the great part the outcome OF the
bright, mild weather
Cotton goods are weaker, and sales OF
moment are made only at concessions.
York resulted favorably Indicating that
the trade will stock up at lower price.
Business In Woolens is at a standstil1
and VIII remain so until after Jan. I,
when the new tariff provisions go into ef-
feet Prices at which wooden mills are
tive change in the tariff, and 1t Is declar-
ed that the American mills win hold
their share Of the trade. Sales of wool,
too, are lower.
"Pig iron breaks all records by dropping
to $3.50
"At the larger southern cities general
trade remains quiet. unchanged, or OF
moderate volume, except at Augusta.
which reports n slight Improvement.
AT Savannah and Jacksonville, the dis
tribution of staples is relatively most ac-,
tive, and at Chattanooga, where collec-
tions are satisfactory, the Indebtedness
of merchants is less than for several
years.
Orleans continue free.
"At Galveston, Birmingham. Atlanta,
Memphis, Nashville and Charleston there
is little prospect for Increased activity
prior to the new year.
uTAzF AT nnnK aTTI