The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-05-19
BUSINESS NOT PICKING UP.
No Material Gain Made in the Last
Three Weeks.

No Improvement In the Near Future
in Sight at Present-Shut-down of
Industrial Concerns and Restricted
Transportation Operations on the
Increase-The Failures of the Week.
New York, May 1s.-Bradstreet's to-
morrow will say: This week is the
third in succession in which there has
been no material gain in the volume Of
business and practically no improvements
in the prospects for trade in the near
future. Continued uncertainty regard
ing tariff legislation restricts trading in
futures" in all staple lines. This is
largely responsible for the reduction
in the volume of bank clearings. The
general industrial situation does not i'm
prove, although the striking New York
and Paterson silk weavers, who have
been out three months and have lost over
s. ,25O, 900 in wages, have gone back to
work. The coal conference at Cleveland
failed to settle the miners strike and the
situation as to fuel supplies continues to
grow worse. Shut-downs Of industrial
concerns, restricted transportation opera
tions. and seizures by railroad companies
of coal on the track are increasing. Large
quantities of foreign coal have been en-
gagged for delivery on the Atlantic sea
board. The number idle through strikes
still remains at about 225.000.
Trade is slow in all lines at Philadel-
phia and Baltimore, at none of which is
the trade for the near future encouraging.
At the south such centers as Charleston,
Nashville, Memphis, Atlanta. Birming
ham, Mobile, New Orleans and Galveston
report the jobbing trade practically at
standstill, there having been no improve
ment within week, and sluggish de-
mand. At Augusta drugs are relatively
most active; at Chattanooga sales of hard
ware are improved, and at Savannah
naval stores are frmer and lighter"
DUN's REVIEW.
R G. Dun & Co.'S weekly review of
trade tomorrow will say: The obstacles
to improvement do yot lessen, yet the re-
Operative force of the country is so great
that observers are constantly amazed at
the volume of business being transacted,
the tonnage being transported, the num-
Der Of works resuming operations and the
general soundness of trade, notwithstand-
ing influences which in any other land
wouldproduce dire disaster.
Some industries are clearly doing bet
ter. Among these are the boot and shoe
trade and womeus dress goods. Sales of
excessive stocks and the low prices of
cotton, misfortune to the growers, keep
many mills in operation which would
otherwise stop, but attempts to advance
some kinds of goods have brought no bet
ter trade
$50 real calamity, the long strike Of
the miners, results in better prices for
Bessemer iron, steel and many steel
products, and to iron making concerns of
the east partly compensates for the over
whelming advantage which the Pittsburg
region had secured in the fierce competi-
ton for some months. Foundry and
mill iron are in abundant supply with
little change in price, and though the de-
mand for finished goods is not large,
frmer prices appear where there might
be demoralizat ton, if part of the works
were not forced to close. At Chicago,
also, the market has been the best for
months with structural iron and plates
sitter. At Pittsburg the demand has
raised Bessemer iron So per ton, foundry
coke, which sold at 80 cents, sells at 81,
wire nails have advanced TO 81 so, and
there has been heavy buying of black
sheets and barbed wire. But it is feared
that more Of the mills must suspend if
the strike continues.
THE soundness of the commercial
world is shown in the diminishing i'm
portance of failures, the liabilities re-
ported for the second week of May
amounting to only 81 ,937, 53s, of which
81 ,490,932 were of trading, and 1882, 500 of
manufacturing concerns. The failures
this week have been 800 in the United
States against 247 last year, and "A in
Canada against IA last year.