The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-01-05
NO IMPROVEMENT IN TRADE
OlIT a Moderate Volume Of Business at
The Large Cities.

ths West-Dun Reviews the Failures
ofthe Past Year in This Country and
Canada-The Continued Exports OF
Gold an Unfavorable Feature The
Consumption Of Manufactured Pro-
duets stiu Small.
New York. Jan. Brads,reets to-mor-
row will say. There has been TO mate
rial Improvement in general trade. Al the
large eastern cities only "a moderate yol-
ume OF business is reported. Buffalo and
Boston iuclinius 90 regard the near out
look the more hopefully Philadelphia
ana Pittsburg are naturally affected some
what by lower quotations for iron and
steel and Baltimore prefers awaiting
orders from commercial travellers before
expressing opinions on the outlook
General trade is reported quiet at
Charleston. Nashville and Memphis, with
mercantile collections fair only.
AT Chattanooga and NJ Atlanta very
little is doing in wholesale lines. the for
1ner reporting manufactures quiet as
result Of a prolonged holiday influences
and the weather.
At Savannah trade is quiet. but improv-
ing. and collections are only fair Cotton
manufacturers are taking some new con-
tracts, but merchants viii act with ex-
IRENE conservatism.
Augusta cotton factories report a fairly
good demand ana improved collections,
though general trade shows no gain.
CITY ana county trade is reported fair
~ satisfactory by Jacksonville. The dam
age from the extremely cold weather in
Florida TO fruit and vegetables is quite
heavy, orange growers being affected Sc
riously
AT Birmingham manufacturers report
orders scattered. general trade quiet, and
collections only fair.
There is only small volume Of business
st New Orleans. and collections are slow.
AT Galveston trade is very quiet and
orders are for needs only.
"All the western cities announce prac-
tically unchanged trade conditions, and
light or moderate volumes Of business.
conspicuously. Cleveland. Cincinnati,
Detroit and Louisville, although the
Straits city reports that cold weather has
stimulated orders. and Louisville that
merchants are more hopeful At Chicago
orders are mostly OF the hllng-in variety.
and s.. Louis merchants are still working
on their inventories ana starting out com
mercial travellers. business is confined
mostly 10 mail orders"
r. G. Dun d Co.'S weekly review of
trade tomorrow will saw Failures for
1891 are fully reported this week. being
Is. $50 ia the United States and SiG in The
Dominion of Canada. The liabilities i'm
the United States were Si72. 49,. S56. and in
Canada $lI6l6.2lJ. Neither the decrease of
over half in this country. nor the increase
of over 40 per cent. TN Canada is surpris-
ing. but the statement shows that most Of
the decrease in the United States is in
manufacturing liabilities. while the entire
increase in Canada is liabilities OF trading
concerns \ few states. including New
York and Pennsylvania. SHOW more fail
ures than in 1893. and in a few southern
states the amount of the liabilities is
larger, but in the central and western
states very much smaller. In eleven of the
last thirty-eight years, the reported liabil-
ities have been larger than in 1894. though
for this year al 1898 the statement is
confined to commercial failures. as il was
not in former years. The failures have
been 12.5 in every thousand firms doing
business; the liabilities have averaged
Sl32.U to each firm In trade, and in pro-
portion to the volume of solvent business
represented by all clearing house ex-
changes, 500 Tor every Sl,U00
1.-The complete review OF different
branches OF business given to-day places
in clear light the fact that the prices of
commodities are at the lowest level ever
known. The fall since Il year ago has
been So per cent, but very unequal in
different branches. In iron and steel pro-
ducts it is IA per cent, in wool 1874 per
cent. and in woolens and cottons about Is
per cent. These changes contrast sharply
with the decline of wages paid per hour 5
work, which, as was shown last week
averaged only IL per cent. less than
year ago.
1.-THE exports of $4.55OOOO in gold this
week are not because of merchandise
movement for the excess of exports over
Imports of merchandise has been found
from $50 100000 to $50, 100000 per month
Unquestionably large Withdrawals of for
eign capital, through sales of securities
and otherwise. have caused the outgo,
the duration and extent of which, there
fore depends upon other than commercial
elements.
IAN extraordinary abundance of money
has resulted from the general dullness of
trade, and the movement to this center
has been unprecedented in volume
1.-The condition of the industries has
been largely governed by the fall in prices,
and while production is much greater
than a year ago, the aggregate increase
being fairly measured by the increase of
3.24 per cent. of the hours of work done in
November compared with the previous
year, il has been controlling feature in
every industry that the consumption has
not kept pace with the output and
has not sustained prices.
I'm iron and steel the lowest prices
OF the year are at the close, and the low
est ever known the demand calling for
less than half the usual quantity of rails,
with a large decrease in many other
branches, but probably the use of struc-
.tural forms was larger in 1894 than ever
before.
1.-The wooden industry records a produc-
ton for the year about quarter less than
normal, and for the last four months
Is. A per cent. less than in 1892 in the guam
tity of wool consumed, but in the value
of the product the decrease was, of course
greater.
THE cotton industry with material
close to the cheapest point ever known
keeps most of the mills at work. but 10y
selling goods at prices quite unprece-
dented.
The output of boots and shoes has
been the largest ever known in the number
of pairs but. besides fall in prices, be
low all records. there has been a genera
preference for the lower priced goods and