The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-05-05
TINES ARE OUT OF JOINT.
The United States Standing the Seige
Wonderfully Well.

Which Would Explain Much Dis
aster-The Prices of Commodities
Almost the Lowest Ever Known.
The Volume of Business 3l.3 Per
Cent. Less Than a Year ARo-Ground
For Hope.
New York, May Ar. G. Dun & Co.'S
weekly review tomorrow will say: 1T is
now, as it has been for nearly year, the
amazement of intelligent observers that
the United States suffers so little from re-
verses which other lands share, but
which fall here more heavily than any
where else. The past week has seen
events which suffice to cause or to explain
much disaster-strikes Of nearly all the
bituminous coal miners and coke workers,
with numerous riots, strikes of many
thousand men in other employments,
stoppage of many manufacturing works
in consequence. arrest of traffic on several
great railroads by lawless proceedings,
and the stamping of discontented men, in
all mum bering several thousand, toward
the national capital in the hope of con-
trolling legislation. The lowest price
ever known for wheat, and almost the
lowest prices ever known for commodities
as a whole, exports of s., 100000 gold in
stead of abnormslly cheapened products
and the fall of the treasury gold reserve
below the 500, OOO, 600 limit, are significant
of widespread difficulty.
THE VOLUME OF BUSINESS.
''Yet the volume of business is but BIB
per cent. less than year ago; in some
directions signs of improvement appear
even now, and the sublime faith of the
people in their future is shown in the
general belief that strikes and disorders
will quickly disappear.
1T is also important that the prices of
iron and steel products promptly ad
va HHeed, in answer to the stoppage of
some works through strikes, since it indi-
Gates that the recent improvement on the
apparent demand was of a substantial
character At Pittsburg and Chicago
Philadelphia and New York. prices
have generally advanced though irregu-
ulariy, and in bar iron quotations appear |
a shade weaker. Bessemer pig has ad- |
vanced IS cents to 81, steel billets 81 to
Sl50, and plates and structural iron and |
steel and wire rods are stronger. Many |
reason that the advance may be main |
tanned, at least for time, because the |
cost will rise if strikes succeed, and if |
they fail because of the demonstrated ex- |
istence of demaud substantially equal !
TO the full product of the works thus far |
started
THE MONEY MARKETS.
''The money markets have not been dis |
turbed by the large outgo of gold, which |
was taken mainly from the treasury |
through the redemption of notes. The |
continued flow of unemployed money |
hither is not a sign of health, nor the |
ouJgo of gold instead of wheat at 81 cents, |
or cotton at 7.3l cents. The demand for |
commercial loans of the better class does
not increase, but there are more numer-
Gus applications for loans on questionable
paper from the interior.
Customs receipts were only $40, 49,
SOL in April. against Sl5, AIS, 63S last year,
and are not likely to increase while tariff
changes are pending. Exports of prod
ucts are declining, though in April 90
per cent. larger than last year, and the de-
crease in imports is about 80 per cent.
THE most encouraging sign is the
marked decrease in the liabilities of firm
failing, which were only 81 ,449,144 for the
last week of April, and for four weeks
1896, 5S7, Of which SO, 722, 300 were in
manufacturing, and 81, GA, 367 of trading
concerns. The amount of liabilities at
the south was S2,9l9,419, against So, Ill
O30 in the eastern and 81, 692, 257 in the
western states.
in the United States, against 216 last
year, and 30 in Canada, against % last
year"
BRADsTREET's REVIEW.
Bradstreet's tomorrow will say: "The
movement of general merchandise
rou ,holt the country is smalle,
in volume. Spring trade is fin
ished and orders for fall delivery are,
with few exceptions not meeting expec-
70 Tahh IN .,,l
most all the larger cities report sales al
most without exception as of a hand-to-
mouth description.
The extension of the coal and coke
strike, accompanied by riots at
Cleveland and Mesaba, has emphasized
the depression. The industrial situation,
therefore, has no improvement Strikes
of iron ore miners, among the building
trades, with an extension of the coal
miners strike and the almost total cessa-
ton of operations in the coke regions,
have swelled the total number of idle in
dustrlal workers to fully 2l5,000. Shut
downs of industrial concerns dependent
on coke or soft coal for fuel are increas-
ing, Notwithstanding an attempt of the
coal operatives and operators to get to-
gether to arrange basis of settlement.
There is more animation in the de-
mand for lumber and leather at Philadel-
phia, but increased prices for Bessemer
pig iron and steel bllletS at Pittsburg and
other points, due in part to the scarcity
OF fuel, have not resulted in more orders.
IN THE SOUTH.
Throughout the south trade has re-
manned very uniformly quiet, exceptions
being at Charleston, Augusta and New
Orleans. The strength of rice is fea-
ture.
AT Baltimore, quiet pervades all lines
of trade, and at Cincinnati merchandise
markets are duh and manufacturers
working on small orders. A few manufac-
turing lines at Louisville report an April
business equal to 1893 but almost all the
others say 1t is from 10 to 20 per cent
smaller. The Nashville money market is
weaker, but at Memphis and Chattanooga
there is no change in trade from last
week in any direction. Wholesale grocers
at Atlanta report the activity noted in
staple lines, and the Savannah naval
stores market is firm. Only a moderate
volume of trade has taken place at Mo
bile and Birmingham"