The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-08
sIsE OF THE BUSINESS TIDE.
-yr GAIN so FAST As TO BE Al
MOST BEYOND BELIEF.

sign of N Reaction That Can
s,.rt PRICE, Downward Again.
an Increase in Consumption as
,he EmpIOyment and Wages OF
10 People Increase-The Outlook
Cor Cotton-COttOn Mills Doing
well.
New York, June 7.-R. G. Dun Co.'S
.ssklv review Of trade tomorrow will
The tide of business is rising. even
...- was falling two years ago. with sur
rising rapidity. The gain has gone so
a. and so fast in some branches that
- more conservative fear it may not be
.siatained But the period Of dullness
1rf.h comes in each market after an IN
,,.,,al rise brings as yet nothing like
.,-rssponding decline. Industries gain
much halt or fall back little, and then
-.tr once more. The demand for con-
-,,ror+ion steadily increases as the EN-,
--,vment and wages of the people in.
.-asse. The demand for money expands.
,rs bank reporting % per cent. larger
5is,ounts for the country and another %
~ cent. more commercial loans than a
yss- ago. and all but two report some
cain. one serious question remains,
wbether the crops will be full enough to
sustain a large business. But the worst
reports to-day are better by far than the
estimates recently current.
cotton declined an eighth, with better
weather at the south, but excitement
and prices rose again with the report
of only lis per cent. decrease in the acre
age A much greater decrease had been
called certain, but the condition is re-
norted less favorable than last year.
With a tenth smaller yield per acre and
the acreage 11.6 per cent. less than last
wear the yield would still exceed 7,7OO,0O)
bales which, with the heavy stock car
ried over. would forbid the idea of a
famine. But late crop is the more ex-
posed to injury. June began with 9,55S,S9S
bales already in sight and $780,, 1850 Amert-
can remaining in commercial stocks, while
European spinners held on May l over
1O01 40 bales, according TO Ellison.
Cotton mills are doing well, with very
satisfactory orders already for promi-
nent lines and the market is strong with
occasional further advances. In knit
goods there is also some Improvement
and higher prices for yarn. though prices
have been cut in some kinds of hosiery.
The effort to end the Olneyville strike
was not wholly successful, and in few
other wooden mills strikes nave occurred,
but the demand for goods looks better,
and a fair start has been made in recorders
for fall goods.
THE flow of money hither from the IN
terror has not ceased, but has much les
sened. and banks report a general Increase
IN discounts for the country. largely for
the south, and in commercial loans here,
mainly in manufacturing paper. Foreign
exchange is higher, exports showing
a per cent. decrease for five weeks,
while the imports show IA per cent. in
crease London has sold about $4,000 shares
Of stock more than II has bought for the
week. but still bids largely for bonds.
The failures in the four weeks of May
showed liabilities of Ss,S29,lSl, Of which
S,40l,a5 were of manufacturing and So
1896 of trading concerns. Last year the
total was $97S7, 92l, of which S4O6l, COZ was
Of manufacturing and $42Sl,SS6 of trading
concerns.
The failures for the week have been 1855
in the United States, against ZIG last
year, and rs in Canada, against 40 last
year."
Bradstreets tomorrow will say; THE
speculative spirit which seemed to domi-
nate both commercial and financial cir
Cles until within a week or ten days
past is still less conspicuous in all lines.
The demand for staple goods in num-
Der of instances is small, notably at Bos-
ton, Pittsburg, Chicago and Kansas City,
particularly in dry goods, the demand for
which at first and second hands has de-
cAned, as is customary at this period.
While business throughout the country
may, therefore, be characterized as quiet
er, the tone of the staple market con-
tinues strong, and confidence in good
demand when the fall season opens next
month remains undated.
The features of the week, as hereto
fore is the continued long list of advances
in prices, notably those for iron and steel,
and the upward movement of bank clear
tngs Higher prices are recorded for some
cotton goods shoes, hides leather, paper,
pig iron, steel, galvanized iron, black
sheets, canned goods, hogs, wheat, corn,
oats and some grades of wheat flour.
Prices for live cattle, wool, coal and lum-
Der are reported unchanged and firm,
while silver, cotton, petroleum and lard
alone are noteworthy as showing lower
prices than last week.
Southern cities, in most instances, re-
port trade and collections only fair, with
no special change from last week.
slight gain in demand is reported from
Atlanta and from Jacksonville, where
collections are also better The improved
condition of business reported at New
orleans a week ago continues.