The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-08-31
TRADES STRIKING INCREASE.
LAST WEEK IN AUGUST A SUR
PRISE To EVEN THE MORE
OPTIMISTIC.

Too Rapid Expansion of business.
The Speculative spirit and the
Power of Combination Pushing
Prices Upward-R. G. Dan A Co.'S
and Brndstreet's Opinions on the
Trade of the Week.
New York, Aug. Or. G.. Dun & Co.
In their weekly review tomorrow will
say; Improvement in markets and prices
continues. and whereas a few months ago
everybody was nursing the faintest hopes
Of recovery. it has now come to be ths
only question in what branches, If any
the rise in prices and the Increase Of busi-
ness may so too far. A strong conserva-
tive feeling is finding expression, not a.
yet controlling the markets or industries.
but warning against too rapid expansion
and rise
In some directions the advance in priced
clearly checks future business. The ina
dustries are not only doing better than
anybody had expected. but are counting
upon a great business for the rest Of the
year. Since the speculative spirit and the
power OF combinations pushed up prices
OF hides, leather and shoes, the demand
has distinctly declined, at least for this
present. and many works are out Of or-
ders, while few are now receiving enough
TO support fun production. Shipments
from the east In August foot up s5s.57d
cases. against 355,sA last year, and s23, ,asa
in 1882
The prospect for wheat has hardly
Improved this week. though the price
has fallen II cents. Western receipts
have decidedly increased. but are only
S,9O5,e06 bushels. against GAS. "a last year,
and Atlantic exports are only 1,373,35d
5,2n, ,liS last year. In the past four weeks
Atlantic exports have been only 4,S6S.5s9
bushels, against s5S last year. and
this alone Is quite enough to explain
the failure to maintain the sensational
advance In prices which so effectively
checked the OutgO.
With the promise OF a great crop, pork
and lard are a shade lower.
Cotton Is rising as IL there we're no
surplus OF 100000 bales-American carr
ried over to the new crop year. which
begins with the next week. Whether exc
aggerated or not. reports OF injury have
impressed traders and purchases in three
days here amounted to s., 800 bales. The
price has advanced 8i9 cents. and as there
Is no large supply OF actual cotton availa-
BILE at this time, the market price can be
easily moved. But II the yield Is as short
as buyers believe II Is not a good sign
for business at the south. since the
abundance Of old cotton IN foreign mar
kets must hinder exports at higher prices
during the very months in which plant-
ers are forced TO sell most Of their prod
uct.
Already dispatches indicate that the re-
tail trade at many southern points is
slack. The volume OF domestic trade Is
but slightly better than In the previous
week, exceeding last years BY 1873 per
cent. against l6.2 for earlier weeks OF the
month. and falling 81 per cent below 1892.
against 81 In earlier weeks.
Railroad earnings In August have been
hardly per cent larger than last year.
but 1868 per cent. smaller than in 1892. tbs
loss on Grangers and southwestern roads
being large Tonnage east bound from
Chicago was ls6,736 In four weeks Of Au-
gust. 1871 last year. and 207.6 .695 In 1892.
Failures in three weeks OF August show
liabilities of SG.5ls.366, manufacturing. $3,-
5l7,577. and trading, s2,s52.96s. In the same
weeks last year, liabilities were Ss,2l1,f70.
manufacturing. .33s. and trading. 2,-
ssl. flL Failures for the week have BEEN
lss In the United States. against 1856 last
year. and AZ In Canada against 40 lass
year.
Bradstreets tomorrow will say: The
concluding week Of August surprises
even the more optimistic with a strik-
ing increase in the volume OF business
with jobbers in staple lines at such
centers as New York. Baltimore, Boston.
Chicago, st. Louis, Kansas City. st. Paul.
Minneapolis. and TO a more moderate
extent at distributing points in the South
Atlantic and Gulf states, among them
Charleston. Chattanooga, Atlanta. Sa-
vannah. Jacksonville. Birmingham. and
Dallas. In dry goods millinery. shoes.
hats. clothing. and groceries. the autumn
demand is making itself felt. with the
prospect for further improvement in
immediate succeeding weeks.
This situation Is encouraged by the
practical certainty Of an unprecedented~
ly large crop of Indian corn and phe-
nomenaI harvest Of wheat In the norfh-
west. as well as by the unexpected up<
ward bound OF prices OF steel and iron.
followed by a corresponding gain in de-
mand. The gain in quotations for steel
and iron is one Of the sharpeet within a
week on record. and following. as It doess
advance Of about 30 per cent. for low
est levels reached In 1884 Is enough
to raise the question Of whether a YER
liable boom is impending in these met
ais. A jump Of nearly 81 per ton for
Bessemer pig within a week, $50 for
biilets, 81 for charcoal pig. and western
mills refusing TO take orders for fu-
ture delivery except at value, render
these industries excited. All forms OF
in price.
The total volume Of general trade for
the summer has been larger than in 1895
and in many instances than in 1888. with
the outlook to-day for even a better fall
demand than many had anticipated. The
upward and onward impulse of this week
Is noticeable. All winter lines Of goods
have felt an improved request and man.
ufacturers and jObbers in dry goods.
hardware and groceries announce the re-
celpts OF many osders for September de-
livery. Even IA Texas. where at the south
the state has suffered from drought. AMI
az the north from continuous rain, and
where the cotton crop is 20 be short in
consequence. country merchants report
better feeling IN all lines and G fair de-
rnand for wholesale results.
The general course Of prices has been
Indicated with reference 20 the leading
metals. and higher prices for cotton stim-
ulate advances in quotations for glnghnms
and prints. Wool ls firmly held, largely
owing 70 the strength u the London mar
ket.
Deniea ~ she Carnegie Secretary.