The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-09-28
BUSINESS STILL ON A BOOM.
PRICES FOR COTTON GOODS CLIMB
ING WITH THE STAPLE.

Quotations for the Raw Material
so Much Higher Here Than at Liv-
erpOOI. as to CurtaiI ExpOrts-The
Outlook for a Good Crop stIII De-
cidedIy UnfavOrable-The Demand
From Dealers for Goods Decided
Iy Urgent.
New York. Sept. H.-R. G. Dun & Co..
In their weekly review OF trade tomorrow
will say: THE fun stateraent Of about 2.
800 commercial failures for the third quar-
ter Of 1895 will be published next week.
and will show liabilities OF about $30,000.-
600. OF which about $11 100000 have been OF
manufacturing and SIT. 900 of trading
concerns. In the same quarter Of last yeas
the failures were 2.S6S. and the liabilities.
80 1856. OF which Sl2, Ssi. .s92 were OF man-
ufacturing and $15,lSl 230 OF trading cons
Germs.
''rhe weeks reports are highly encour-
aging as to monetary matters. although
exports OF gold still continue. and also az
to cotton manufacture, but not as satis>
factory regarding iron. wooden, leather of
silk manufactures.
"rhe speculation In cotton has lifted the
price sc during the past week and quo@
tations here are so much higher than at
Liverpool that free exports cannot be ex-
pected. II seems no longer possible to
hope for a good crop and Neill Brothers
have issued a circular predicting a yield
OF only 100000 bales. The accounts of
injury and loss grow more dismal each
week, and while they may be somewhat
exaggerated, the general outlook is de-
cidedly unfavorable But for the extra-
ordinary supplies carried over from lass
year. the manufacturers at home ana
abroad would be in trouble But the prices
of goods rise each week, adding TO the
profits of the mills, which on both sides
of the ocean can use for some time to
come old cotton bought at low prices.
IL is not yet clear how far the consump-
tion will support the manufacture at the
present rate, and at present prices for
goods though the demand from dealers
is naturally urgent while the market for
the raw material is constantly rising
There Is still some chance OF strike
In Fan River mills, though the rise in
prices VIII make IL easier for the mills
to grant some advance in wages
Nothing is clear about the iron and
steel manufacture. but some Of the larg-
est ItttsDurg concerns, processing to have
orders for many months ahead, are bid
ding for small contracts in eastern mar
kets at ~ TO N.oO per ton less than the
THE exports Of gold, though not as
large as they were some weeks ago, cause
some disquiet In view OF the disbanding
of the bond syndicate.
The failures for the week have been
PIG In the United States. against 235 last
year, and 80 In Canada, against IS last
Bradstreets tomorrow will say:
striking features Of the week are the
increased demand for money east and
of he xrf1a a
and active demand for iron and
steel and the further upward
movement in the price Of raw
quotations for wheat, -four, and wool Sud.
den changes IN the weather affecting a
wide expanse Of territory have made gem
eral trade Irregular but reports from
those sections unfavorably affected are
In part offset by the stimulation OF de-
mand for certain staples In other portions
OF the country. The improved demand for
funds continues a feature Of the money
market at Boston, New York, Chicago.
81. Louis and minor centers. Inquiry
reveals a better demand from all classes
Of mercantile borrowers.
Higher prices for foreign woods in Lon
don have compelled domestic manufac-
turers to pay more for raw material At
present quotations foreign wools in do
nestle markets can be sold abroad at a
profit. Trade In light weight woolens le
unsatisfactory, and owAg to the high
price and strength Of cotton, caution 10
being exercised In buying cotton goods
The south is more bullish on cotton, and
the continued evidence OF a short crop ap-
pears to have at last compelled recogni-
tion abroad.
General business at the south has
shown Improvement at Memphis Nash-
VILE, Atlanta and Birmingham The de-
mand for funds there is Improving. and
all that appears needed is a freer move-
ment of cotton.
There were 9,299 mercantile failures.
in the United States during the past nine
months, as reported to Bradstreets onIy
forty-eight more than in the like portion
OF last year, which coincidence Is par
alleled by the total amounts of the as
sets and liabilities Of failing traders this
year being substantially the same as ia
Ike period one year ago
The feature Of the failure record for the
nine months lies in the relatively large
number reported I'm the first quarter Of
the year, since which time the totals have
fallen off from week to week very sharply.
The business failures in New England
have decreased notably as compared with
year ago, while those al the south have
increased about as much. There are more
failures reported from the western states
this year than last. while in the north-
fewer"