The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-02-02
BUSINESS CONTINUES BAD.
THE NEW LOAN GIVES THINGS 4
LITTLE BOOST.

TITS NANNAEA ~ n EN@
Low Average-IdIe Money sim
PiIine IN at New Nork-The Trade
IN IRON anu steel at the East Less
EncOura sfng-Prfces for Textile
Manufactures Unusually -Irregu-
lar.
New York. FEB. L-R. G. Dun q Co.'S
weekly review tomorrow VIII say:
Things look better near the close this
week, because it. is believed new loan
viii be negotiated. There was need for re-
lief, since January closed with the heav-
lest Withdrawals Of gold from the treas
ury, the reserve falling to Sis.46S.1oS. the
hope Of a new loan being the one thins
which has lifted prices durins the past
few days
January leaves behind At the lowest
average Of prices for all commodities ever
known fer cotton, iron and its products.
wool and silver, the lowest monthly aver
age ever known, and for wheat range
above the minimum. but yet declining
rapidly toward that point Industrial
operations have not materially diminished.
though it has been a Disappointing month,
because the general revival expected has
not come.
The continuing drift of money 10 New
York shows scanty commercial demand in
the interior and no Improvement appears
here in commercial loans.
I'm short, business is stu waiting, and
finds reasons for hesitation in the con-
dition of the treasury.
Iron and steel look less encouraging at
the east and the demand is disappointing,
although prices are not weaker. At Pitts
burg and the west, larger demand APP
pears particularly FOR wire and wire nails,
which don't change in price a yet while
Bessefner iron is sc higher, billets a La
tie stronger and grey forge 15c lower.
The structural demand is good, but prices
are a shade lower and while the market
for bar has been unusually good, prices
don't lift. Considerable contracts for cast
pipe have been taken OF are pending, but
in the aggregate the new business since
Jan. has not answered expectations.
Textile manufacturers cannot score
improvement for the week. for though
print cloths have advanced q shade, the
demand for other cotton goods is only
moderate, and prices are unusually irreg-
ular.
THE failures during the month of jan
uary have been much less important than
were Appreciated. and the aggregate liza
bilties for "A days have been SO, 6S6 $50,
being of manufacturing concerns. against
se,1 562 last year, and IS Isl, 267 being trad
ing concerns. against Sl4. 75S.263 last year.
The very heavy decrease, particularly in
manufacturing failures, viii attract at
tention.
THE failures for the past week have
been 354 in the United States, against $40
last year, and "a in Canada, against 81 last
year"
Bradstreets tomorrow will say: "SDe-
oial kilograms to Bradstreet's from many
Of the more important points of distri-
button throughout the country make il
plain that the uncertainty as to the out
come Of the financial situation, based on
the rapid Withdrawals Of gold from the
treasury. has had a depressing effect on
general trade. decentralization at the
best are characterized as fairly satisfac-
tory, but in most instances are slower than
usual al this season. This is emphasized
by the fact that the Baltimore jobbers
are waiting the results of sending out bills
for last fairs business before determining
as to the credits to be granted.
I'm textiles there is little change or pros
pect of early Improvement. General lines
of fancy printed fabrics are going from
jobbers' hands fairly well, and print cloths
are a shade better than a week ago. Near
ly every city reporting specifies "A moder-
ate volume of business. or general trade
quiet, OF with a hand-to-mOuth demand.
Providence reports a fair outlook for
wooden goods. manufactures and manufac-
turing jewelers., but the only line I'm Phila-
delphia reporting anything like activity
is dry goods.
AT Pittsburg there is encouragement
because of the outlook for iron and steel
AT the South a better distribution of
shoes, clothing, rubber goods dry goods
and groceries is sufficiently conspicuous
at Chattanooga and GALVESTON to mark
trade at those points as an exception
to the rule throughout the South Atlantic
and Gulf states.
THE movement of hardware and dry
goods from New Orleans has increased.
but trade in general is of only moderate
proportions"