The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-02-23
DUNS REVIEW OF BUSINESS.
THE SITUATION IMPROVED ny THE
BOND SALE.

Government Revenues StIIi Def
Client, However. and no Material
Gain shown IN Domestic Trade.
The Price OF Cotton Held Down by
the Certainty Of Large supply 10
BE Carried over The Only
Changes in the Price OF Textile
Products a Decline
New York. Feb. Or. @. Dun s. Co. $
weekly review OF trade says: The sur
prising success Of the new loan. and the
great confidence il has eiven 20 invest
ors on both sides OF the water. anl 20 bus
mess men here, encourage many 20 hope
that 81 may De the beginning Of a real
recovery. In twenty-five minutes here
the subscriptions are supposed 10 have
been at least five times the amount Of
the bonds offered. and in two hours. at
London. they were twenty times the
amount there offered Considering the
power which control Of these bonds gives
10 regulate foreign exchanges aud to
prevent exports Of gold, the transaction
has indeed greatly changed the financial
situation. in spite OF the fact that The
government revenues are still deficient
and that Domestic trade shows scarcely
any gain as yet. The industries are not
enlarciug production. nor have prices Of
products improved. But a very impor;an-
source Of apprehension and hindrance
has, for the time at least, been removed.
Cotton has refused to advance. though
there has been much talk about curtail-
ment of acreage this year. and the re-
ce pts have sharply decreased. The de-
crease was apparently owing to the un-
preccdented weather at the south. and
the market is more influenced by the
certain over supply for the next six
months than By the possible shrinkage
in yield next fall As the market FOR
goods is dull here and abroad, the fact
that visible stocks OF American are about
30QO00 bales larger than 1872 al this date.
justifies the expectation that the surplus
carried over viii be large.
THE volume of domestic trade reported
by exchanges is but little larger than last
year. with allowance Tor difference Or
working days, ami 32.5 per cent smaller
than two years ago. The more accurate
test, the daily average for the month, Is
So per cent. larger than last year, but
ga per cent. smaller than In 1899.
Dealings in iron and its products are
moderate in volume, with some discour-
agement in most branches, though struc-
tural works in Pittsburg are very busy
and the demand for wire nails and barbed
wire has never been surpassed. But moth
ing is doing in rails; plates are quiet. and
bar is as slow as ever, though in rather
better demand for car works. Sales OF
pig have been moderately large. win
one transaction at Pittsburg of 10000 tons
OF Bessemer at $40, but prices do not inn
prove.
Textile products show few changes. but
those are downward. CoLtons are meet
ing an Indifferent demand, and New York
mills A bleached have been reduced 60
9i2c and Lonsdale A. bleached to 4aic, and
I'm cheaper goods and brown sheetl1ge
prices are irregular a better demand
appears for the finer prints, but fancy
calcoes are quiet. and there is only the
average recorder business for dress goods.
THE failures for the first half of Feb
ruary show liabilities of S5,550,9S6, against
1854 072 last year; Of manufacturing con
Germs. 81 592. 319. against $3749,S i5 last year.
and Of trading concerns, S3,35S. 0l9, against
81, 703, 7i9 last year The failures for this
week have been 302 I'm the United States,
against 2sS last year, and in Canada, &c,
against 81 last year"