The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-04-28
STRIKES HOLD BACK A BOOM
The Business Situation Less FaVOTa-
Bile Than Last Week.

Many Furnaces Banking Their Fires,
Factories Closing Their Doors and
| Lake Vessels Lying Up Owing to the
| Prospective Coal Famine-A Total
| of2oo, 900 Industrial Employees Now
on Strike.
! New York, April 27.-Bradstreet's to-
morrow will say: THE general business
situation throughout the United States is
less favorable, as shown by reports from
more than fifty important distributing
| centers. A specially depressing influence
| is the strike of 147 900 bituminous coal
and coke operatives in twelve states. Ac-
| cumulated stocks of bituminous were
! about an average for the season, but are
not likely to last beyond the middle
of May. Already the record of furnaces
banking their fires, factories closing
their doors, lake vessels laying up and
mills throughout the central and central
western states shutting down in conse-
quence of prospective lack of fuel is at
tracing attention. This, apparently, the
largest single industrial strike taking
place in this country, is reported caused
by the efforts of the operators to recoup
themselves from the results of Insane
competition" by repeated cutting of the
miners wages. Complicating the situa-
ton is the effort of about 80, 600 miners to
supply the demand for coal who will not
strike.
100000 MEN IDLE.
"The total number of industrial and
other employees on strike now, with those
made idle by reason of the strikes, is
200,0 600. of which nearly 70 per cent. are
coal miners and coke operatives, 10, 400
textile workers, 1000 in pottery and
kindred industries, 5000 among building
trades and 5000 railroad employees
"Only two cities of thirty-five report
ing in the central, western and north
western states report material improve
/ uIent IN general trade this weelK-IHaiah-
apolis and Kansas City-and even at
those points the gain Is slight
In the south the business situation is
marked by quiet, even dizziness, an ex-
ception being noted in better tone to
trade in several lines at New Orleans
Drouth in the vegetable region near
Jacksonville has checked shipments and
affected the local money market.
ATLANTA furniture factories have shut
down for six weeks and other industrial
establishments are working on short
time"
DUN'S REVIEW.
R. G. Dun s. Co. S weekly review of
trade tomorrow, will say: when &C
counts of great strikes and labor dis
turbances crowd all newspapers, it is
idle to look for much improvement in
business. The bituminous miners quit
work last Saturday in larger number than
was expected, and the coke-workers at
once renewed, with greater unanimity,
the struggle recently unsuccessful While
these great bodies of men, besides the
thousands who were on strikes in the
building trades, in silk, wooden and
cotton mills, in Alabama ironwork
and on western railroads, are refusing
to work, there are other thousands
marching to Washington, who claim that
that they seek work in vain, and that the
government must give relief. Both
classes are engaged in making business
worse, because it was bad already.
That every week of idleness for so
| many men must appreciably lessen the
aggregate power to purchase products of
labor is evident, but in spite of all, some
improvement still appears.
IRON AND STEEL.
THE iron and steel works in regions
where bituminous coal or coke is used as
| fuel, may be seriously interrupted in the
struggle is much prolonged, but the i'm
| mediate effect Is to give better look TO
| prices of some products in those regions,
while eastern works feel a somewhat
larger demand. Southern freights to
| New York, being so cents lower. pig iron
| from Alabama is offered at $l15O,
and rails of light sections are
sold, it is stated, below $40 at
| the mill, while at Chicago business
halts, and bar iron is down to one cent,
though plates and beams are slightly
| stronger Barbed wire at Pittsburg is
| quoted at 81. 10 and wire rods at S23 so,
though billets and Bessemer iron are
| stronger. Philadelphia notes an increased
| demand, and in that region about two
thirds OF the working force is employed.
CLEARING HOUSE PAYMENTS.
Payments through all clearing houses
were 20.4 per ceut. smaller than year
! ago, and outside New York 1873 per cent.
smaller, but prices of commodities, now
! averaging nearly IA per cent. lower than
year ago, account for over half of the
| change. The volume of foreign trade does
not materially alter, exports hence for
the month being 10 per cent. larger than
| last year, while imports at New York
have been All smaller. =, The decline in
| custom receipts indicates that the in
| crease in dutiable imports is As per cent
mo enlargement of commercial loans
! appears and money continues TO accumu-
! late here, though IN smaller amount this
week. This state of facts clearly indi-
Gates the general depression of trade and
industries, but domestic exchanges have
so far changed that abatement for the
flow of money hither is expected Only
/ $1,000 900 gold goes out this week, at pres
emit accounts, and there are no indications
of important foreign operations during
the week in American securities. Consid-
cradle exchange is being drawn on ac-
count of Americans about to visit Europe,
as usual, at this season.
THE FAILURES ,
THE decrease in liabilities of firms fail
ing still continues, and the aggregate re-
ported for the third week in April was
| only 3, 1872 462, and for the three weeks
of April S6,9SS, 1888, of which 81. Sl0.l94
We're of manufacturing and 1854 ,095 of
trading concerns. The failures have been
very equally divided as to sections, the
east having the larger number, with liza
bilities of $2277 900, the south 81, 572, GOO,
and the west g., 1873 900 The failures
this week have been $50 in the United
States, against PIG last year, for the first
time in many months showing a decrease,
and in Canada 26, against % last year.
This list includes none of great import
ance."
BACK FROM The HEA RsARGE.