The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-02-24
BUSINESS STILL IN A RUT.
Prices in Nearly Every Line Again
Greatly Depressed.

Gitdlll DepltSStu.
The Money Markets Still Glutted as
a Result of the staRnation in Trade
No Increase in the volums OF
Domestic Trade-Exports of Gold
Among the Probabilities of the Near
Future.
New York. Feb. 23.-R. G. Dun & Co s
weekly review of trade tomorrow will
say: "a waiting condition of business is
one in which weekly fluctuations mean
nothing. Business Of all kinds is hest
tating until more can be determined about
the future, and meanwhile orders
which will keep hands at work for
a time are given and accepted,
this week increasing as in some others
decreasing, without affording reasonable
indications of the future. Prices are
again greatly depressed, as low or lower
than ever, having been made in wheat,
silver, and some manufactured products,
and neither cotton, wool nor raw iron
have advanced.
THE GLUT OF MONEY.
THE glutted money markets continue
to show that the volume of business is
still inadequate to employ the circula-
ton available and the withdrawal Of
about SCI. 200. 600 from the New York mar
ket by the sale of government bonds
does not cause the expected strengthen
ing of rates With gradually decreasing
shipments of merchandise to other coun-
tries. foreign exchange rises, and some
exports of gold are expected. The volume
of domestic trade does not seem TO in
crease. In all clearing house payments
bo ic Al & for the upnpx
against 37S per cent for the previous
week and about 37.5 per cent, for the
month this far
CoTTON's DECLINE.
''Cotton was a sixteenth lower. with con-
siderable trading, the receipts from plan
tations still exceeding those Of last year,
butthe exports showed a relatively large
increase, while Ellison reports foreign
consumption nearly full. The takings
of northern spinnerspsince Jan. l have
been IS per cent. smaller than last year to
date.
LOAN RATES LOWER.
"Hesitancy and uncertainty still con-
troll the money market. Rates are even a
shade lower than in recent weeks, com
mercial paper being in small supply at 81
to 6 per cent, while call loans are seldom
made at more than l per cent Foreign
exchange has advanced about cent and
Dub lOE lllE SkEOuE NOuulblOu OF T4uEpDGdn
banks gold would have gone abroad al
ready A further decline in silver takes
the price below the lowest previous
record, and is partly due TO a heavy ship
ment from New York during the week
The treasury deficit in February is some
what smaller than in January, for though
customs receipts do not enlarge and for
the month thus far are 80 per cent. less
than a year ago, the internal revenue
for the month shows some increase over
last year.
The industrial changes have been
few, but little better demand for some
textile goods has started more mills than
have stopped There is a better feeling
in fancy cottOns, though some goods are
shade lower.
.Woolen dress goods are steady, with
fair demand, and though orders for
heavy woolens and worsteds are light,
they are little better, some agents hav-
ing made fair progress.
"A larger demand gives encouragement
in the iron and steel manufacture, and in
creases the output of the mills, though it
is yet only 80 TO 60 per cent of their
capacity. Hence, fierce competition con
tinues to depress prices, ana while the re-
cent slight advance in steel billets and pig
iron has been lost, some other products
are selling lower than usual
The prices of commodities now aver
age dUOQb a per cent. nlRueF IMAM a
month ago but III per cent lower
than year ago, and, excepting this year,
have never been as low on the whole as
they are now.
The failures during the past week
numbered in the United States 2SS,
against 1913 last year, and in Canada 81,
against 81 last year"
WHAT BRADsTREET SAYS.
In their weekly review of the state of
trade Bradstreet's will say tomorrow:
"1he demand for fertilizers remains
moderately active at Charleston aud Au-
gusta, and at the latter city collections
have improved, as has the demand for
cotton factory products.
Trade at Atlanta is dull, but at Chat
tanooga the seasons business in hardware
is reported more satisfactory than last
year.
General trade is unchanged at Savan-
nah and quiet at Nashville, where collec-
tions are only fair.
Memphis reports moderate activity
with tendency to Improvement in bust
ness.
AT Birmingham, Ala. and at Calves
ton, no change Is reported in business
Heavy rains have Affected dealings
at New Orleans, although rice is active
and the corn export movement heavy.
dallas reports a growing volume of
business, with cold weather stimulating
request and immigration enhancing the
values of farm lands"