The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-22
GOOD TIMES ON EVERYWHERE.
A RISING TIDE OF TRADE AND IN
DUSTRY AT HAND.

Fears That IL May Here and There
Mount too Far and too Fast-The
Volume of business Not Equal to
That of 1892 Yet, But Rapidly
Reaching That POint-CrOp Reports
Highly Encouraging.
/ New York June 21.-R. c. Dun & Com
pany's report says: THE failures for the
/ second week of June show liabilities Of
only ZOE $50. Of which S702357 were manu-
featuring and S1s2s.625 were trading.
I against s2,917.535 in all for the same week
last year. Of which S6ss. l37 were manufac-
turing and s.. 220 765 were trading. Addi-
lions for the first week Of June raise the
aggregate for two weeks. including the
cordage concern. TO Sl432l, S4l, Of which
$l0,517,325 were manufacturing Ind 1858. JIG
We're trading. The failures for the week
have been 22s in the United States, against
2li last year. and thirty-one in Canada
against twenty-five last year.
He who sees a setback in business. at
this time must be gazing through a tele-
scope pointed by mistake at some other
country. From all parts of the United
States the best a6vices obtainable tell of
a rising tide Of trade and industry. which
threatens here and there to mount too for
and too fast. The volume of all business
is by no means equal to that of 1892 as yet.
though in some important branches larger
than in that Of any other year. The daily
payments through clearing houses in June
are 1863 per cent. larger than last year
though Sc per cent. smaller than in 1892
the last year of full business at this sea
son. rise of more than a quarter in a
single year Is the more significant, be-
cause, in spite of recent advances, the
prices of commodities as a whole, average
a fraction of l per cent. lower than a year
ago. The influence of tremendous money
power contribute to the rise, encouraging
crop news and confident replenishing
stocks, which have been for two years de-
pleted to the utmost. When business pay
ments have so long been Sl5.OOOGOO yearly
less than before, it is not strange that the
increase should be at the rate of 81, 100000
year. when faith in the future inspires
general replenishment of stocks
Excepting too heavy rains in Texas,
crop reports this week have been highly
encouraging. Future injury to cotton can
not be predicted but as vet nothing indi-
would not be supposed to threaten a
famine If the commercial and mill stocks
were remembered, now exceeding by
2,5O,OOO bales full consumption until Sept
!. The receipts continue small and the
consumption close to the maximum here
and abroad, though the marketing of Brit
ish goods is not entirely encouraging Lib
eral purchases of all products by the south
do not indicate belief that any serious mis-
fortune impends. So the strong trade in
the grain growing states accords with
brighter crop prospects"
Bradstreet's tomorrow will say: 1.-THE
feature of the business week Is the Gus
tomary check to the activity in trading
in staple articles of merchandise, due
to the near approach of midsummer, with
the accompanying stock-taking in some
lines; in addition to this, perhaps, the
only other not pointing to improvement
Is the reaction of prices of cotton, COAL
wheat, flour, corn, oats, pork and lard
from previous relatively high levels. In
almost all other directions reports on the
business situation and outlook are excep-
tionally favorable. The New York stock
market keeps its strength, in face of
high rates and the absence of foreign
interest Favorable crop prospects, and
especially in the southwestern territory.
and the rise in iron and steel prices, create
bullish professional temper under
which realizing sales have little effect.
The return of one of the bond syndicates
leaders from Europe is regarded as bull
ish influence.
Notwithstanding the reaction in the
price of cotton, cotton goods in some in
stances are higher, with the market quiet
and likely to remain so until after July A.
''Woolen goods are quiet, with mills
fairly well employed where labor troubles
have not interfered. Trading in wool has
been very heavy, and while sales at the
west have been made at low prices, quota
lions have since advanced 1sd1c pound,
thus apparently placing wool in line with
wheat, corn. cotton, iron and steel.
Among the staples which have enjoyed
revival, the demand for iron and steel
continues, perhaps. the most striking
feature. In a few instances certain
grades of iron have enjoyed the unusual
distinction of having quotations advanced
twice within the week. Since the rise in
prices began pig iron has advanced % and
steel billets about 80 per cent. in price, and
reserve plants are being pressed into SER
vice.
I'm the southern states business con-
tinues at about midsummer proportions
with improvement in dry goods and gro
ceres, at Chattanooga and Atlanta, a bet
ter feeling in trade circles a Birmingham,
and only moderate expansion of business