The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-09-14
WEEK IN THE BUSINESS WORLD
BRADSTREET'S AND Dun q co. ON
THE TRADE OUTLOOK.

Unexpected, hut no Less Pronounced
Improvement Noted in the SOuth
and SOuthwest-Fan Trade Is Open
ing UP I'm Those sections More
Freely Than Was Anticipated.
FiFmness in Cotton Goods Prices
Also n Feature-The Rise I'm the
Price of steel Rails A Gradual Adj
vance In BauL observation-disclosures
Failures for the Week.
New York. Sept lS-Bradstreet's to-
morrow will say: THE week is charac-
terized in trade circles by unexpected but
no less pronounced Improvement south
and southwest. This is reflected al he
markets from which supplies are distrib-
uted to these regions. Relatively unsav-
orable features are found in a quieter
tone in dry goods jobbing circles; a
check to seasonable trade throughout he
central west. due to the unusual heat:
low prices for men's-wear woollens, ana
an unsatisfactory outlook. due to depress-
ed quotations abroad only moderate or
ders for domestic woollen manufactures;
cancellation of few Nebraska general
merchandise orders at Chicago and the
somewhat critical position Of the Amer
lean tin plate industry, owing to the heavy
advance in price Of tin plate bars. with
ont a corresponding increase In the price
Of tin plate.
At the south the fall trade is opening
up more freely than anticipated with
marked Improvement In business and in
creased confidence as to the outlook
at Jacksonville, Atlanta nad
Augusta. The Improvement in
iron has had an influence at Bir-
mingham and throughout the tributary
region. all Of which is found in the :em-
porary inability of birmingham wholesal-
ers to meet he demand for hardware
and groceries.
Aside from the nrmness of cotton goods
prices. which is a feature in trade circles
north and east, the most conspicuous
movement is the continued activity in
iron and steel. the highest quotations
yet reached having no effect In restricting
demand. The present rate Of production
of pig-iron exceeds 100000 tons weekly, the
largest in our history, at the rate of
more than 100000 tons per annum.
The lake cities have reported improved
demand for general merchandise, stronger
lake frelghts and request for tonnage
active. Al Chicago relatively more or
ders are received from the south and
southwest than ever before. Revised esti-
mates from Texas point to only half a
cotton crop, but trade is active and the
outlook favorable because of a greater
relative increase IN the price Of cotton
than the reduction In out turn. The Loui-
L. afaI .aF
cent to 20 per cent smaller than that of
last year.
The gradual increase In the clearings
during the past few weeks brings the
aggregate nearly 10 the billion dollar
mark again, being 1898 100000, about II
per cent. more than last week, IL per
cent more than the corresponding week
one year ago. and % per cent more
than in the second week of September,
1893 But as compared with the cor
responding week In 1872, the falling on
Is per cent, and contrasted with the
like week IN 1891, the decrease is 15 per
cent.
The tendency to reaction in prices.
particularly among food staples, contin-
ues, with further liquidation in wheat.
Indian corn. pork, lara and sugar. Re
actions are reported in prices for cotton
and hides. on the other hand higher
coal prices have appeared at New York
and Philadelphia, and the prospect is
for further advances all along the line.
In addition to higher quotations for
cedar, prices of almost all standard va
rieties OF cotton goods are higher and
tend upward. Then there is the 81 in ad
vance in steel rails the latter now being
on a parity with quotations for billets.
The total of business failures through
out the United States this week num-
bers 213 as compared with 1874 last week,
naa L. ,.f Gsaf. .tar., ,t.f.f-
1S9l-300 in that week in 1888 and l43 in
the corresponding period of 1892.
r. g. Dun & Co., in their weekly re-
view of trade tomorrow, will say: "A
slight setback. which may mean much
or nothing, according to the final outcome
of the crops, is not unexpected at this
season. If the government crop reports
were correct, the situation would not
be encouraging But not much confidence
is placed in the reduced estimate Of corn.
none at all in the estimate of wheat and
even the most enthusiastic bulls do not
think Ii worth while to quote the gov
ernment report as to cotton. The fact
is that we are beginning to market not
far from 2200.O00O00 bushels of corn,
though only about 500, 100000 bushels will
be moved from the counties where 1t is
grown; about 450.OOO,O0O bushels of wheat,
of which the farmers are unwisey hold
ing back a large proportion; and about
1900 900 bales of cotton, If later indications
are not erroneous, as they very easily
may be, TO add to the stock carried over
The commercial stocks of cotton Sept
1st here and abroad amounted to 2,1OO, 53S
bales and domestic mill stocks were $780,
6lS bales, allowing not a single bale for IN
crease of stocks at southern mills.
Prices have settled a little back during
the past week, and, Notwithstanding the
gloomy department report, the wheat
crop is evidently larger than the depart
ment has estimated, though nobody knows
how much larger, and 1t Is coming for
ward with more encouraging repidity,
no less than .773,l73 bushels having been
received at western ports, against 5446-
00l bushels for the same week last year
from a much larger crop. The price de-
clined sharply about cents per bushel,
with little indication of recovery.
The price of corn has also yielded with
a strong prospect Of the largest crop ever
grown and at 38 cents at New York. a
large proportion of the crop viii be of
little profit to farmers. II we are TO have
a laEge crop of grain and a small crop
of cotton it is natural to infer that manu-
facturers may find large transactions at
A.. ,nf fto