The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-12-21
TRADE HURT BY THE WAR TALK
THE PRICES OF COTTON, WHEAT
AND STOCKS DECLINE.

Most Centers Despite the FURRY in
the Markets-Christmas shopping
Active in the south, But business
in Wholesale Lines quiet.
New York. Dec. 20.-Bradstreet's to-mor-
.ow win say: "The general business sit
nation mas been affected by the precipi-
tation OF possible complications with Great
Britain First 10 feel this are the stock
market and prices OF cotton and Of wheat,
the influences Of which ramify among bus
mess houses IN many different lines. The
serious nature of the Presidents state
ment Of the case had the effect here. and
in London of causing free selling OF Sc
curities in spite of the fact that the expee-
tation of war is slight
"A violent depression in stock and Sc
curity values has followed the Presidents
Venezuelan message. and its reception in
Europe The London market has been no
less disturbed than our own and the for
eizn selling Of our securities was on an
enormous scale. Gold shipments for the
week are IS. 5S0.000, of which $4,000 so TO
London to-day. Foreign exchange is up 10
Sqls for demand Sterling, and bankers
show a great dissemination TO draw IN
view Of the possible curtailment OF foreign
credits here. -
sReDresentatives of Bradstreets at %
CfTfeS interviewed many 4tdAAlAE lLdllAA az
turers and merchants Thursday as 10 the
effect, present or prospective, on the SIT
qation nrecipitate1 by the Presidents mes
sage. In no instance, so far as the inter
views extend is war considered the prop
able outcome. So far as the euect on bus-
mess is concerned. eastern and western
manufacturing centers ana many OF the
larger western and northwestern dlstrl-
buting points report none is felt whatever.
Perhaps as significant as any other 1ea-
ture Of the Interview is that IN al
cities except a few the cOncensus or opinion
distinctly favors the sentiments expressed
in the Presidents message Ihe eNcep-
tions, where opinion on this point was a.
vIded are New York, Boston, Detroit ana
Milwaukee
s.In the grain market, at the cotton ex-
changes and throughout the cotton pro
ducing regions, as well as at New YORK
city, Philadelphia, Boston ana Other New
England points, complaints are heard OF
the effects on business of the international
question which has been raised.
Leading southern cities report CHRIST
mas retail trade fairly active, but that
business in wholesale lines is quiet. Dull
ness is conspicuous in teas, and cotton
continues neglected at leading markets;
Charleston alone reported more general
improvement.
West and northwest unseasOnably mild
weather and the tendency of Jobbers TO
reduce stock prior TO the close OF the
year have served to render general trade
quiet and at best only fair for the sea-
son.
vious tendencies. Jobbers in cotton and
WoOlens report the demand quiet at first
hands. Wooden mills are taking only fair
orders for spring goods. Hides are firm
er, but manufacturers of shoes have not
yet begun to anticipate wants by increas-
ing purchases of leather although in IN
stances shoe factories have begun to in
crease their outputs Favorable reports
come from western glass factories the
prospect being for a largely increased de-
mand and a corresponding advance III
quotations. Iron and steel report an
other reduction in prices of nearly 81 a
ton each, and bar iron has gone off 10
per cent. in price, which is also true OF
structural material. The output of pig
iron is nearly at the rate of 100000 tons
a month, and unless consumers place or
ders soon there will be a restriction of
production.
Prices generally show no more encour-
aging tendency than heretofore.
THE total number of business failures
throughout the United States, as report
ed to Bradstreets this week, aggregate
1856, compared with 3l3 last week, 800 in
the like week one year ago, 1853 two years
ago (more than at the close of the panic
year, and 29S and 3l3 in similar periods in
1892 and 1891"
New York, Dec. OR. G. Dun & Co,
in their weekly review of trade will say
tomorrow: The failures for two weeks
of December show loans of $3.50, 451,
against $780, O1 last year, and 81, SIS, 1856
Tor the same weeks OF 1889. The failures
for the week have been 81 in the United
States, against $40 last year. and 80 in
Canada, against SO last year.
THE strong Americanism of the Presi-
dents message has given its character TO
the week Popular feeling was profound
ly moved, but excepting in the stock and
cotton markets. business was romarka-
hly dull and scarcely affected Selling of
securities held abroad was a natural i'm
pulse, though the sellers are not unlikely
sn time to discover that no other securi-
des are safer from international compli-
cations than the American.
Cotton has declined a quarter and
wheat about &C. The markets in this coun-
try do not act upon the theory that any
interruption of foreign relations is to be
expected. Coming at a time when nearly
all the produce markets are inactive and
the industries unusually dull, the disturb
ance has affected values much less than
might have been expected
Not because OF any foreign question
but solely because of influences which
nave been IN continuous operation for
months, prices of manufactured goods
continued TO decline Prices of iron and
steel have fallen about per cent for
the week, and are now per cent. below
their maximum, BesSemer pig and gray
forge and most kinds of finished prod
ucts having yielded more or less. Pur-
chases by the great steel companies it
is now evident, We're much in excess of
their actual consumption, and il is be-
leved that some furnaces will have to
suspend production, as the demand for
manufactured products is too small to
support the output estimated for the
year at 9,3SI639 tons by the Pittsburg
American Manufactures. Minor metals
are weaker.
"There is no change of Importance in
the market for cotton goods which is
not active enough to prevent some accu-
mutation. Print cloths are a shade weak
err
The market for wooden goods has not
improved. The sales of wool are mainly
confined to the needs of manufacturers,
who are buying but little ahead The i'm
ports of wooden goods continue very large,
though smaller than a month ago.
The movement of cotton continues
comparatively small but estimates OF
consumption here and abroad begin Ia
take the place in a measure of estimates
Of yield, as the markets for goods are
generally dull. There was a shade of ad-
vance in the price until foreign questions
disturbed the market, but it closed with a
quarter decline"
BRUNsWICII,s BUDGET.