The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-02-10
BUSINESS FAILS TO BOOM.
Improvement Seen, but Ii is Coming
Very Slowly.

Baltimore Jobbers Report Their Sales
25 Per Cent. Less Than Usually at
This Seasonal Slight Failing of in
the Sales of Footwear-M More Activi-
ty in the Wool Market-An Increase
in Failures.
New York, Feb. Or G. Dun & Co. 5
weekly review of trade tomorrow will
say: Improvement in business appears in
many directions, but it seems TO be in
part balanced by loss in others. The
gradual gain which began some time ago,
and was strengthened a little by the sue
cess of the treasury loan, has scarcely
answered expectations. Reports of re-
sumption of work continue TO in
dictate that the industries are
doing more than in December, and
yet the record of their actual gain is dis
appointingly small The marked increase
which appears in offerings of commercial
paper has almost wholly ceased and the
accumulation of unemployed funds con
tinues, so that endorsed mill paper has
been taken at 234 per cent The bond
operation has not advanced stocks nor
stimulated speculation, and the lowest
price ever known for wheat has been re-
corded.
CAUSES OF THE UNCERTAINTY.
Doubtless the uncertainty which re-
mains with the tariff bill yet in the
Senate and currency measures of i'm.
porJance psnding in the House, mas some
hindering influence, but there is still seen
an increase in the demand for many kinds
Of goods because of the exhaustion Of
stocks in the hands Of dealers, by q con
sumption which, though less than usual,
is nevertheless greater than in any other
country
The volume of domestic trade does not
materially increase. exchanges indicating
a decline compared with last year of 1873
Der cent. elsewhere, and 34.9 per cent. at
New York.
PRODUCTION OF PIG IRON.
1.-The actual production of pig iron Feb
1, was 80 242 tons weekly, against 99.0S7
tons, Jan. l, and III POI a year ago. The
apparent output was slightly less in Janu-
AIRY. than in Deeemb Der, but the increase
in stocks unsdld only 1921 tons against
l9.457 in December so that consumption
in the manufacture increased not quite
Paper cent. though AZ per cent less than
a year ago
There have been large sales of steel
billets, lifting the price to SIC 25 at Pitts
burg, and a better demand for wire
nails, wire rods and barbed wire, while
the Pittsburg price Of Bessemer pig has
advanced to $40 IS. Philadelphia notes
larger transactions, and improvement APP
pears at Chicago.
BOOTS AND SHOES.
"The decrease in the shipments of
boots and shoes from Boston for the
week was only Ia per cent, but trading
runs SO largely to lowpriced goods that
in value the decrease in business must be
great.
Textile matters are gaining little. In
quiry discloses larger stocks of cotton
goods held by dealers than was supposed,
and quite large proportion of mills
likely to close before long unless orders
increase, but the number reported start
ing is again much larger than those clos
ing down.
SALES OF WOOL.
THE sales of wool were decidedly
larger last week, 5,173,040 pounds.
against $3.50 $50 last year, and the mar
kets were all more active, but this week
were comparatively quiet. Many mills
have opened in an experimental way,
and have made up goods enough to try
the market with results not as yet
largely encouraging. There is better
demand for dress goods and for some
worsteds, but in general the trade is ex-
tremely cautious. Recent sharp reduc-
lions in cotton goods have not brought
out the increase of business expected.
AN auction sale of silks resulted in
better prices than any anticipated.
Foreign trade does not improve, do
nestle exports at last falling below those
of the corresponding week of last year,
though for the year thus far the increase
is per cent, while the imports are 40 per
cent. less than last year"
The failures for the week were 1856 in
the United States, against 222 last year,
and 90 in Canada against A last year, sew
eral being of more than ordinary impor-
tance.n