The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-06-30
BUSINESS SLOW TO BOOM.
The Demand for Products Looked Upon
as Disappointing.

Several establishments Shut Down
for Lack of orders-The Volume of
Domestic Business as Shown in
Clearing House Payments Smaller
Than at This Time Last Year.
New York, June Or. G. Dun & Co.'S
weekly review of trade tomorrow viii
saw: 1.-The great strike of the coal miners
has ended at most points, but another
threatens to interrupt business more
seriously for time, though the number
of hands engaged is comparatively small
THE resumption of work in the mines
and mills has made good progress, but
the demand for products is as yet smaller
and less urgent than was expected.
Buyers apparently wait for lower prices
of iron and steel products, which manu-
facturers are slow to give. in view of the
increased cost of the materials and pro-
duction. After suspension of half
the working force for more than
month, it was expected that the orders
for products would be very large, but in
stead there is general complaint of dull
ness and narrow demand, and prices of
-Bessemer, pig, and some finished forms,
are a little weaker. Although the work.
ing force has evidently increased, several
establishments have stopped for want of
orders, or because no settlement regard
ing wages for the coming year has yet
been reached.
DULLER THAN LAST YEAR.
1.-The volume of domestic business, as
shown in clearing houses payments, is
. allo,s he al ~
last year, and at New York the decrease
is 361 per cent. There is some improve
ment in the demand for commercial loans,
especially from the south. and sales of
foreign exchange against prod
ucts to be exported hereafter
have much increased. This, with
foreign buying of stocks after the action
of the New York banks, have weakened
exchange so that gold exports for the
week have been only 81, 570,0 600. But the
customs receipts for the month have been.
only SS,551, 467 and the years deficit will
be about $50, 100000. A considerable de-
felt is expected in July.
This week the failures have been 214
in the United States against 307 last year,
and 25 in Canada, against % last year.
Of late the number and importance of
failures have increased little, as is usual
near the close of half year."
MORE FAVORABLE PROSPECTS.
Bradstreet's will say tomorrow
"While there is no actual Improvements
in business throughout the country, there.
are more favorable prospects and better.
feeling among merchants. with an in.
creased number of instances where trade
has been stimulated. The ending of the
great bituminous coal strike was promptly.
followed by sympathetic strike of rail
way employers. which threatens disas-
trous effect on business by reason of in
reference with distribution and travel.
"Other unfavorable features include a
conference of Rhode Island cotton mill
owners as to the advisability of shutting
down, owing to accumulation of stocks;
heavy arrivals of wool at eastern mar
kets, where the stocks are already large;
delaying in settling the coke strike, which
prevents many industrial estab-
lishments from starting up; an extremely
restricted volume of business among
wholesale dealers in clothing; at Balti-
more 43 per cent. of what it was in the
first half of last year; delayed purchases
by merchants in Georgia and South Caro-
lima, where crop damage has been threat
ened, and sharp restriction in the
volume of general trade at Chicago,
where the railroad strike centers.
AT New Orleans trade in all lines is
smaller
AT Nashville and Birmingham it is
dull and without sign of early improve
ment.
There is an improved trade at Mem
phis, Jacksonville and Charleston, due
primarily to the effect of rain on the
crops.
Atlanta announces the volume of trade
for June about equal to that in June last
year, and that country merchants are or
dering for future delivery
There is more activity in nearly all
lT1CE r,Et
mand for cotton is heavier.
Continued improvement is reported
from Galveston, where collections are
easier"