The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-12-28
DULL BUSINESS IN DECEMBER.
THE CHECK DUE TO THE WAR
TALK AND FINANCIAL SCARE.

a Better Demand in All Lines Looked
For Next MOnth-Increased Exports
and Decreased Imports n FavOra-
BILE Feature of the MOnth-An In
crease of Only Two Per Cent. in
Business Failures as Compared
with Last Year.
New York. Dec 27.-R G. Dun & Co.
will say tomorrow, in their weekly re-
view Of trade: THE failures for the
week have been 322 in the United States
against $50 last year, and 40 in Canada,
against Al last year The failures Of the
fourth quarter and the year 1895 not yet
finished. cannot be definitely stated. but
the aggregate Of deferred liabilities for
the year. while much smaller than in
1898. will vary but little from that of 1894.
The years aggregate of commercial liza
bilities will probably be about $40 900, 900
in manufacturing over $73.00O,OOO. or 10 per
cent. more than last year. but in trading
about $SS,O0O,OOO, or 8 per cent. less than
last year.
THE foreign and financial messages Of
the President were followed by violent
reaction in the stock market last Satur-
day with grave fears of monetary trou-
BILE.
THE sudden panic checked business in
many departments, and the industries
cannot be expected to show signs of i'm
provement until the new year begins.
orders have for months been so much
smaller than they were in the summer,
when production was expanding and
prices mounting rapidly. that new causes
Of uncertainty have the more influence.
"Bessemer pig has declined % cents at
Pittsburg, the Bar Iron Association has
reduced its price, not yet to the rate at
which steel, as well as iron bars are
actually sold, and in most departments
this industry suffers from the speculative
advance in prices and production last
summer. II is noted that Bessemer and
open hearth steel were offered at the same
price in bids on 5000 tons, which Pitts
burg mill will produce for appraisers
stores here.
In the great textile manufactures, the
usual holiday dullneSs is increased by de-
lay of orders. though there is some ac-
pected soon. Standard brown sheetings
and drills are an eighth lower, and cotton
goods average third of one per cent.
THE shoe and leather business does
not improve and both leather and manu-
featured goods decline slightly, though
speculation is again hosting hides about
10 per cent. for all in two weeks, and for
IL
Cotton has remained at sac since last
Saturday, and enormous commercial and
mill stocks here and abroad, with de-
mand for goods much smaller than in
September, hinder an advance. The guam
tity which has come into sight is 80 per
cent. less than last year TO date, but
slightly larger than in 1892 when the crop
was 900 bales.
Payments through clearing houses
were abnormally swelled by last week
panic, so that the average daily for De-
cember at all points is 1870 per cent. more
than in 1894 and 1872 per cent less than
in 1892.
cent. in exports from New York for three
weeks of December, which is decidedly en-
couraging, and a decrease of 1912 per cent.
in imports here"
Bradstreets, tomorrow, will say: LAS
is the rule in Christmas week, wholesale
trade has been quiet. The holidays, the
close of the year and the stock-taking
tend TO make business slow and promise
only a light trade until late in January.
At various cities, notably New York, Bos-
ton. Baltimore and Chicago, anticipa-
tions as to the character of trade early
in the coming year are hopeful, but II
remains to be seen whether the downward
movement of demand and prices, and the
delay in putting the currency on a sound
basis all of which have begun to show
themselves in trade conditions, will per-
NIT of as early and marked gains in sta
pie lines of trade in 1896 as has been conf
IDENTIFY anticipated.
THE business failures in the country
for a completed year number 1903, an
increase of more than ? per cent. The
increase in the number of failures is at
the west, northwest and in the Middle
states, decreases being shown in New
England, at the south and on the Pacific
coast.
1.-The prices movement is more favora-
BILE than for a number of weeks the quo
tation for coke having been advanced,
as wen as those for mohair wheat, In
dian corn, oats and for sugar, while for
leather, hides, lumber, coal, WOO, coffee and
print cloths quotations are unchanged.
Reactions are reported in prices of refined
petroleum, cotton, pork iron and steel.
1.-The weeks features in commercial
lines are a rather better trade in Christ
mas specialties than expected, a check
to business at the west from long con-
tinued rains, extremely light stocks of
goods in the hands of retailers, the
strength of wool and the expectation of
holders that il will advance should the
proposed duty be placed on it, together
with the pronounced movement of funds
from the west to the east. not only to
pay interest, but because of the better
demand for currency at the larger finan-