The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-11-16
Trade WAITING FOR WINTER.
.TtD WEATHER RESULTS IN 4
LIGHT DEMAND.

4 Distinct Falling OF in the Demand
for Iron and steeI-ImprOved Trade
reelected by Last Months Railway
rarnings-NearIy All the Southern
uondS show Increased Earnings
Despite the Failing on in the Cot
ION CrOp-The General Mercantile
situation satisfactory.
New York. Nov. 15.-Bradstreets to-
morrow viii say: THE condition of gener-
"a trade continues irregular and without
Material change There is a distinct fall
i-- of i'm the demand for iron and steel,
vrTo perhaps the heaviest reaction in
oratations in these lines are reported in
arv week since the boom in these metals
coached its climax. Central Western cities
continue to feel the unfaVorable influence
Of uuseasonably mild weather. which is
..rle as well at the cities of the northwest
Then there is the long list of reductions
ot quotations for merchandise. October
gross railroad earnings reflect generally
improved trade. and an especially heavy
movement of spring wheat is the largest
sa.n shown for any months but June and
july this year. With the exception of the
southwestern roads and the coalors, which
show decreases, every other group shows
gains All the trunk lines and nearly ali
fre southern roads show increases, the
latter i'm spite of the short cotton crop.
Renewed gold exports, amounting for
the week to 50, 10000, have checked the
bullish tendency of the New York stock
market The selling, however, is profess
sional. the short interest enlarged and the
liquidation apparently completed. Further
gold shipments are expected next week.
Bank cearings at cities throughout the
United States aggregate $1171. $50 600 this
week. 4 per cent. more than last week.
As compared with the corresponding
period in 1892, at time when bank clear
ing totals were exceptionally heavy, the
falling off this week is u per cent.
There were 279 business failures report
cd throughout thel United States this
week, compared with 260 last week, $50
i'm the week one year ago, and as con-
rasted with only 205 In the corresponding
week in 1892. The increase in the num-
Der of failures this week over last, is
more than accounted for by the southern
and New England states.
"Other features include very satisfac-
tory general mercantile conditions eX
ceptions being noted by their infrequency.
There is a disposition in the Gulf states
TO market cotton more freely, and Texas
cities report a checked volume of busi-
ness, resulting from lower prices for cot
tom
*. q. Dunn q q o.. Will say TOMORROW III
their weekly review of trade: The fail-
ures in the first week of November
amounted to $3.50. 10, against $2,8ti A5
last year. and for October show liabilities
of SIS GS7. 92i against Sill ,29O last year,
and $2i ,954. i32 in 1888 For the past week
the failures have been 2SS in the United
States against go last year, and 40 in
Canada against IS last year.
The scare about gold exports had no
real signmcance and Though S2,25lOJO
more Will go cut the stock market seems
to be recovering. The collapse Of the KAT
tir speculatons abroad has forced many
to realize on American securities held
there, and the impression that our govern
nent may have to borrow again also OPP
crates to our disadvantage. But there is
no local disturbance of the money mar
kets, stocks are 50 cents per share strong
err than a week ago, commercial loans are
not large and the demand for moving
crops has been remarkably small, so that
on the whole the money market has shown
very unusual strength and steadiness for
the fall season.
1.-THE government monthly crop report
has caused, as usual, rather more of an
uncertainty IS to its Interpretation than
previously existed as to crops. The cotton
statement lacking account OF the acreage
on which it is based, was of only specua-
tive value, and the mere ramon that MIR.
Neil had reduced his estimate of the crop
actually weighed more than the official
estimate. Receipts from plantations, 25
per cent. less than last year. IL of value,
would Indicate a crop over 100000 bales,
but organization to hold back the crop
renders the comparison of less use. The
bottom fact is that even a smaller crop
than anybody expects with the three mill
lions carried over, will assuredly pl event
any famine in cotton. Meanwhile the eX-
ports decrease IS per cent. in quantity.
Wheat perpleXes the Oldest inhabitants.
THE output of pig iron, Nov. I, was
217SO6 tons weekly. about 10 per cent.
larger than ever before, and continuance
Of the same production for six weeks
more would make the half-year's output
5,350,000 tons or more. about 10000 tons
greater than in any other half-year. The
startling fact is that the demand for
products of iron and steel falls off, now
that there is an increase of output or
pig, and although only few concerns
have closed or reduced work or wages on
account of lack of orders prices are sink
ing. having declined 2.7 per cent. for the
week and GA per cent; from the highest
point. Bessemer pig, billets, grey forge,
bar, tank steel plates structural an
giles and wire nails have all sold lower In
the past week.
The wooden manufacturer has to meet
this year with the two difficulties, the re-
markable demand for clay worsteds,
which has encouraged an advance of 10
per cent. in prices and the heavy i'm
ports of wooden goods. But sales of wool
continue large in spite of the fact that
part of the works are closed or working
only part force.
The cotton mills are running well and
find a very good demand for products,
though it is not of late fully sustained.
Print cloths have declined a shade.
The volume of domestic trade appears
from clearing houses returns II per cent.
larger than last year, but la per cent.