The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-07-06
EnsINESS CONTINUES TO BOOM
.,cEs OF STAPLES AND WAGES
STILL ADVANCING.

THAN 900. 900 TOiIers Granted
Voluntary Advance of 10 Per Cent
=, Their Wages Within "A Month
Tse inward Tendency I'm Prices Not
MARKED as a Month Ago, But
E sill striking.
Il ~ York. July 5.-Bradstreet's to-mor-
v-iIl say: There are 1877 business fail
= reported throughout the United
4 ..rss this week. as compared with 2l5 last
4 * 1s4 in the first week Of July. 1894. $40
4 ,sg3 and 152 in the like week Of 1892.
1 The total business failures in the
D,-oinion of Canada number % this week,
E -,inst Is last week, 80 in the week one
car ago and % two years ago.
4 Notwithstanding the week is broken by
. holiday. the favorable trade conditions
.rstofore reported continue to exercise a
announced influence. prominently general
4 svances in the prices of staples and the
Arsess of industrial employees. The extent
i ,he voluntary advances in wages re-
orted within a month or two has out
brown the resources of voluntary statisti-
d ,l bureaus which have endeavored TO
sep track Of them, the latest advices be-
NJ that more than 1000. 900 industrial work.
RS have received an advance averaging
bout 10 per cent.
. THE upward tendency in prices, while
ot as marked as a month ago, is still
,,riking, because of additional advances,
hose OF lumber, tin plate and print cloths
s. sing new. Cotton goods are firm gener-
Nv on the late advance in raw cotton, al
though some varieties are quiet at this, the
Midsummer season. Fancy prints are ac-
ive for fall delivery.
Wool, which was late in starting in
lac race for higher quotations, is quoted
\, another advance for the South Ameri-
Ian and Australian varities. Prices at
.ondon sales are up 10 or IS points, which,
having been more than discounted here,
Induces the trade TO anticipate a reac-
ion unless London quotations advance
further. Cotton also is higher, as is leath-
Y, following which we have a repetition
b the announcement made each week
or more than a month, that the quota
ions for pig iron and steel billets have
lvanced. To this must be added a SINH
ar statement in respect to bar iron.
Among the list of staples for which
rices are lower are -four, wheat, corn
nd oats, in all instances the outcome of
epolts of improved crop conditions. Pork
md lard are also lower, as are pota-
oes and butter.
mo material Improvement is reported
Rom the south, rains continuing TO DE
amaging to agricultural interests and 10
lheck business in Texas, while at she
outh Atlantic and Gulf state cities the
ulet movement of staples goods and fair
y unsatisfactory collections Of the past
Month or two continue. But advices from
eary all the cities reporting appear to
gree that wholesale dealers in nearly all
ines are greatly encouraged as to the out
ook for business during the autumn, be-
Ewing that the demand will be greatly
simulated by the very general, and, as
is now believed, permanent improve
hent in prices"
R. G. Dun & Co.. in their weekly re-
pew Of trade tomorrow will say:
There were 6657 commercial failures in
he first half of 1885, against 1893 in the
rst half of 1894, and 6401 in the first half
~ 1898. These commercial failures in
B olyed liabilities of SSs, S59, 944 this year,
gainst SlOl, S06 last year, and Sl6S, S64,-
II in 1893
The details show a decrease in every
lass Of failures in the second compared
Elth the first quarter of 1895. both in num-
Der and magnitude, the defaulting liabil-
les averaging SS4 against $40 for every
rm in business. and 1904 against
'tlS for every $1,000 solvent payments.
The midsummer reports from all COM
nrnia a
st covering the questions on which the
lIure business depends. They indicate
stlnotly better crop prospects than other
mclal commercial accounts, a marked in
Tease in the retail distribution of prod
cts, an active demand for goods, and
eneral enlargement of the working force,
nth some advance in the wages of more
nan half million hands. At the same
me they show that the rapid advance in
rlces has somewhat checked buying of
e~ classes of products. In every part of
ne country the outlook for fall trade is
considered bright.
Nothing disturbs the money market,
ne government begins the new fiscal year
llh more than the required gold reserve,
no the disbursement of nearly $50, 600, 900
corporations in interest and dividends
III stimulate business in many
branches.
The advance in iron continues and the
noInas Company has raised anthracite
W. another 81 per ton. A comparison of
Ae prices for various iron products shows
ADVANCE ranging from 722 per cent.
ace February for wire nails, to IL per
mt Tor anthracite pig, and in all kinds
'eFaglng p per cent. The demand and
Se nave come so suddenly that, even
nile the first order for shipment of steel
NETS TO Europe, given some time ago,
men prices were low, is being announced,
ne price here has advanced from $17 in
'p'A 10 $22.25, or about 81 per cent.