The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-08-10
TRADING SLOW IN SUMMER.
orsFNESs UNUSUALLY GOOD FOR
THE SEASON, HOWEVER.

The SeasOn-The Industries stu
Waking Encouraging Progress.
New York. Aug. Or. G. Dunn & Co., in
,5si- weekly review of trade tomorrow.
will say: Business continues unusually
active for midsummer and though there is
nsreeptible relaxation there are no signs
n reastion. The one change OF great i'm
oortaace which the past week has brought
Is sminently helpful-the amicable settle
rsnt between the coal miners and their
Employers in Western Pennsylvania, Ohio
and Indiana. 1t is said that about 10000
men viii have their wages increased af-
Ter oct l by this adjustment, and while
The enlargement of the purchasing power
is Of consequence, it seems even more i'm
portant that a chronic cause of contro-
yersy has been removed by the new agree
ment as to company stores.
There is no important change in crop
prospects, and at this time no news is
eminently good news. Taken altogether
the crops of the year promise so much bet
Ter than was. expected a month ago. that
the effect is highly encouraging. although
the other crops. except corn, will not be
full.
The outgo of gold continues and ex-
cites some comment because it is felt
that the bond syndicate could arrest the
movement at once if it pleased by re-
ducing the rate of exchanges.
Speculation has been more successful
in cotton than in any other product dur
ing the past week, and has lifted the
price an eighth. although it cannot be
said that the prospect as to yield has
definitely changed. Some injury has ev-
identity been sustained from excessive
rains. and the government report COM
mands a little more attention.
The industries continue 10 make prog
ress and higher prices for iron and steel
products prove that the supply has not yet
outrun the demand. Bessemer iron is a
shade weaker. but grey forge has ad-
vanced about 60 cents and finished prod
ucts are remarkably firm, with a further
advance in steel beams to 1.6 and in
angles to 10 cents, and in bar iron TO
1.3 cents. The Carnegie works al Home
stead broke the record by turning out in
July 1900 tons Of steel, of which 7,l5J
were of beams.
The sales of wool are not as much in
fated by speculation as they were during
the first half of July, but they still con-
siderably exceed the actual consumption
in the manufacture. Prices are very firm,
and holders who bought enormous guam
titles a month ago in expectation of a
rise appear to be looking for a further
advance. But wooden goods show signs
of Weakening, and there is much COM
plant of foreign competition and under
valuations, especially in the medium and
lower qualities, while in worsteds the
tendency of prices is upward.
'''Some staple cotton goods have again
advanced in price, and the market is I'M
usually strong for the season.
The shipments of boots and shoes con-
tfnue larger than in any previous year,
but there is very little new business, and
most of the manufacturers are getting
near the end of their borders, while many
have discharged parts of their hands
Prices are firmly maintained and there is
increasing demand for leather though it is
reported that in hides prices at the west
show a weakness
The failures in July show liabilities
amounting to 11,7SS,5l0, of which g, as, O75
were of manufacturing and SS,2S3 l73 of
trading concerns. The failures for the week
were 225 in the United States, against 264
last year and 43 in Canada against 81 last
year"
Bradstreet's tomorrow will say: THE
features of the business week are a con-
tinuance of the remarkable strength Of
the demand for the increase in the produc-
ton of, and the advance in the price of
steel and iron practically all the first class
producing plants having been put into
service and not a few of the cripples.
Prices have shown no great change
this week-cotton, leather and prints be-
ing noteworthy for advances, and copper
for its strength after its sudden upward
rush in prices.
Bradstreet's number 209 in the United
States this week, against 221 last week,
197 in the week one year ago and 474 two
years ago.
AT the larger eastern centers the only
noteworthy change is in increased conf
dence in a large volume of business in the
fail, though as yet no material progress
has been made in that direction, although
Improvement in some commercial lines
is reported from most of the cities covered.
The strike of nearly 15,000 clothing opera
tors at New York appears to have been a
success and nearly all are again at work.
There have been moderate changes in
general trade in the southern states the
most striking being at Dallas, and in gen.
eral throughout Texas. The crops of cot
ton and corn there are large, and country
merchants are buying more freely. Build
ing is quite active in Texas, and mas mad
the usual effect on the lumber and build
ing materials trades. At Memphis there
has been a slight gain in the volume of
merchandise distributed, and at Nashville
business is quite active, with an improve
ment in collections, owing to the market
ing of wheat.
Jacksonville and Savannah merchants
announce a moderate gain, but at most
other cities only the usual midsummer
trade is reported, though with prospects
for an active fall business.
THE continued delay in the payment
Of the sugar bounties continues TO act as a
drag on general trade in the sugar district
Of Louisiana.
The arrivals of new rice at New Or
leans are small and prices unsatisfactory
With the free movement of the new
crop of cotton, southern wholesale mer-
chants are confident general trade will
promptly respond.
The center of commercial activity al
the west follows a line drawn from St
Louis through Chicago, st. Paul and Min
neapolis. with an improving demand also
shown along the Ohio river valley.
Reports of large crops of Indian corr
and spring wheat continue a feature. and