The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-09-29
HOW TRADE IS TRENDING.
Commercial Agencies Report Great In
pTOVemGlt for the Month.

Wide Diversity shown in the Various
Branches of Trade-A Considerable
Excess Noted Over Last Year, but
Business Is Still Below Normal Fig
ures-Bank olearinEs and What Is
| Shown by Them-Failures.
New York, Sept. 2s.-R. G. Dun &
Co.'S. weekly review of trade to morrow
/ will say: "Retail trade, the last step in
the movement from producer to consumer,
is at the same time the first step upon
which depend empty shelves in the stores
/ and future orders to the mills. After
months of unnatural economy buying
should be large enough TO send the mills
! further orders very soon. Special inquiry
| has been made this week atall commercial
| centers regarding the state of retail
trade. Wide diversity appears in different
trades, and the details of business at the
different cities merit general attention
the main facts disclosed are, first,
| marked improvement within the past
month, and considerable excess over
the business done year ago, partcu-
larly in the neoessaries of life, But sec
ond, it appears that the volume of trade
at present is on the whole, considerably
less than in normal year, at most
points, and in the more important trades
is apparently about 20 per cent. smaller
than in September, 1892.
evidence of continued Improvement in
wholesale trade and manufactures does
not appear this week. There is large dis
tribution on orders given some time ago,
| hut uayv husinase yaiu0 IN tho mauufao-
turers is everywhere slackening. The
completion of orders for replenishment of
stocks leaves narrower demand, and it
is yet too early for consump-
tion TO provide further orders.
The volume of business reported
by clearings at the chief cities is
SO per cent, larger than last year, but
2l,S per cent less than in 1892, and for
the month of September the daily aver
age has been 1874, 900 600 against 1913, 900, 900
last year before the panic had come and
| III 900 900 in 1892. AS these include pay
ments resulting from trade deferred dur
ing months of uncertainty, the compari-
son is but moderately encouraging.
1.-THE depression in prices of farm pro
ducts will have some influence, Unpre-
decented record, have been made in cot
ton and wheat, though as to wheat only
in contracts for future delivery, in which
the prices are lowest ever made'
Cotton on the spot is lower at ga
cents. than at any other time since lS49,
and quotations then did not mean what
they do now, while the nearest option
has been quoted at 6,04 cents, which is
below all previous records. Even at the
close the fall for the week is one-quarter.
"The iron industry shows shrlnkage
Of demand, and the prices quoted to-day
are but little above the lowest this year.
Bessemer pig is weaker at Sll at Pitts
burg, with an impression that excess Of
production must cause further decline,
unless lower prices are made for steel
rails. Billets, structural forms and nails
are a shade weaker, and in eastern mGr-
kets competition Of works to get business
tends TO destroy profits. There is more
business at the west, and Oh 'caRo reports
good demand for sheets, for bar in small
lots, and for coke pig, though plates and
boiler tubes are weaker.
"Textile manufactures feel the shrink
age of the demand due TO replenishment
of stocks, and there Is less doing in cotton
and woolen goods at first hands. The
distribution by jobbers on previous orders
is large, and stocks are still being reduced
, by purchases, but the trade now depends
in all branches upon the supplemental
orders expected. In cottons recent ad-
vances In price are maintained, but buy
ing is noticeably less active.
imports at New York for four weeks
have been l3 per cent. larger but domes-
tic exports are 20 per cent smaller than
last year
Failures are few and small for three
b weeks, liabilities amounting to s., ,27s, ,5S5,
: Of which 81, ,3s2, ,313 were of manufactur-
ing, and S2,575,112 Of trading concerns.
The failures during the week have been
235 in the United States, against 354 last
year, and hfty-five in Canada, against
thirty-three last year.
BRADsTREET's WEEKLY SUMMARY.
New York, Sept 2s.-Bradstreet's to-
morrow will say: THE feature of gen
eral trade throughout the country is
found in moderate reactions within the
week, particularly In the volume OF pur-
chases of staples in the west, where trade
has been quite active, and at eastern
points, in the course of prices, the week
falling TO show any upward movement Of
note in this line, and in the check to
business south, together with damage To
the rice and orange crops.
LESS satisfactory reports come from
the more important distributing points
south, owing to the effect of the storm.
Augusta reports the outlook not so bright,
and refers 70 the low price of cotton and
its effect on the purchasing power of pro
. ducers. General business has been un.
settled also at Savannah and at jackson.
Vile, and the rice and orange crops
have suffered. There has been no ma.
terial gain in business at New
Orleans, importation Of fruits and re
ceipts of bulk grain for export being
light There has been fair business in
Chattanooga, but other lines report less
activity. Nashville says iron mills are
unable 10 keep up with orders but pig
iron in that market is quieter. Business
Is practically unchanged at Charleston
Memphis and Birmingham.
FREIGHT TRAIN DBRAILED.