The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-08-17
HOW TRADE is TRENDING.
BEYOND DOUBT Is THE FACT THAT
INDUSTRIES ARE IMPROVING.

The business of the Week summar-
lied by II. G. Dunn a Goa BE-
lated Season and n Frost May Set
Everything Back-GOld Exports
Continue and the Impression
Grows That Another Bond Issue Is
Forthcoming Imports show
Slight Increase, Exports "A Loss.
New York. Aug. 16.-R. G. Dun & Co.. in
their weekly review of trade tomorrow,
will say: 1T Is a belated season; frost
may set everything back The heavy bus
mess which ought to have been done in
May and June was pushed into July. so
that the midsummer decline. due in July.
comes IN August With this in mind, one
is not surprised to find the shrinkage
from July to August rather more conspic-
uous than usual. Financial events are
used in speculative markets to create ap-
prehension. Exports of gold have contin-
ued this week. and while the syndicate
has deposited enough in the treasury to
keep the reserve intact, the impression
grows that another sale of bonds may be
made
Exports have fallen below last years in
two weeks of August S3.SOO,OOO or 20 per
cent, while imports show an increase of
! 5lz per cent Government receipts for half
of August are s71Sl, 1886 less than expenses.
The disappointing crop reports of last
Saturday, though evidently distrusted,
lessen confidence in regard to the future
of trade, even while some spectators
gain by them
Back of all doubts is the fact that the
industries are doing better than anybody
could have expected. The output of pig
iron Aug. was 1sO,525 tons weekly, or
1856 by another report, In either case,
close to the largest output of 1893, though
surpassed by 1900 tons in the spring of
1882. Unsold stocks are SS,O7s tons smaller.
The great steel companies have made
heavy purchases in advance of needs, but
the actual consumption is large, AMI
prices rise in the face of an increasing
output. Bessemer iron is $14.15 at Pitts
burg; plates have advanced 81 per ton,
though other prices are in some cases
shaded in the east.
Wooden manufacturers find in their way
large sales Of foreign goods at prices
which cause official Investigations. The
imports were 32,6OO,OOO pounds of dress
goods in the first half of the year, against
$4,000 last year. The sales of wool in
dictate that wool is largely held for spec
ulation at prices about cent higher than
manufacturers feel able to pay A few
strikes in the wooden mills occur, but the
carpet works about Philadelphia are still
idle.
Shipments of boots and shoes have fall,
len almost to last years figures for Au-
gust thus far, and orders are as yet scant
for the new season, but prices are firm,
| and leather does not change, though tan
ners decline to pay current quotations, 90
to lOc, for western buff hides.
Failures for the week have been 1856 In
the United States, against 229 last year,
and SO in Canada, against As last year.
Bradstreetsl tomorrow will say:
| Midsummer quiet is more conspicuous
| than a week ago, though less so in in
| dustrial than in commercial lines. AS
rule leading manufacturing industries
| are exceptionally good, and 1t is worth
| adding that the increase in the output
of the demand and the prices for iron
| and steel continues.
Gross and net railroad earnings re-
turns for the first HAIR Of the present
year show fairly aggregate gains over
last year, a period of commercial and
railroad strikes, and of financial and in
dustrial depression and arrangement
The best showngs in net earnings are
made by central. western, eastern and
southwestern roads, while the only de-
creases noted are in the granger and
southern roads.
Many. in the trade were surprised by
the very unfavorable cotton crop re-
port by the government, and the price
of cotton speedily advanced Steel bill
lets have also been marked up, as we'll
| as some varieties of print cloths. Quo
tations for -four oats, pork. sugar, cop
per and wool have remained firm, but
unchanged, while declines are recorded
| by Indian corn, on a very unfavorable
crop report, by lard, and by wheat
In the southern states general trade
remains quiet, and in some instances
quieter than week ago. Mercantile col
lections have not begun to improve, and
at some points jobbers report a small
falling off in the volume of sales, though
in several instances this is due to rainy
weather. On the other hand rain is
needed in South Carolina, while in Texas
it is estimated that eN en- with very ia
Yorable conditions from this time on the
Texas crop will not exceed -2,25 900 bales.
Word is received that Texas interior
merchants have been cancelling bagging
and tie orders.