The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-07-25
BUSINESS Extremely Dull.
BRADsTREET-s WEEKLY REPORT
or TRADE NOT ENCOURAGING.

The Market l. Lower and Failures
Heavier Than in some Tfme-The
New Rice Crop in Louisiana Very
shOrt-TextiIe Industries Rapidly
Reducing Forces-IrOn Has no De-
mand, and the Homestead steel
Wills on Half Time.
New York. July 24-Bradstreets To-
morrow viii say: "Telegraphic and mall
advices from commercial and Industrial
centers indicate a more unsatisfactory
state Of trade. There IS no outlook favor
ing an early revival Of trade. while the
volume OF sales continue light and prices
low, with a further restriction Of credits"
The general money market is dull. due
not only 20 caution on the part OF the
banks in discounung, but 10 a falling of
10 demand
Unfayorable crop reports from Nebras-
ka have caused cancellation Of some or
ders, and long-oontinued rains IN Ten
nessee have checked business there.
Louisiana reports the new rice crop short.
Relatively favorable advices are from
Baltimore, where orders in general lines
are fairly satisfactory and the volume of
business is larger than in the like pOr-
ton OF 1895, and from Galveston. where
business generally promises Improvement.
The industrial situation IS somewhat
more depressed, particularly I'm iron and
steel. prices for most varieties OF which,
notably southern pig iron are shaded
The encouraging feature in iron and steel
is the extent to which stocks have been
sold out. There Is an increase in the
number OF striking employees In several
lines, but the new scale of wages asked
by the ifon and steel workers has been
ldI8ely acceded 20.
Production is materially curtailed
among manufacturers Of wooden and cot
ton, as heretofore. and I'm the locomotives.
hardware, silver, jewelry and lumber in
dustries. Shoe factories are busy, mostly
on old orders
The business failures for the week
number go throughout the United States.
against zS5 last week and 39i a year ago"
r. G. Dun & Co.. will say tomorrow in
their weekly review Of trade; The week
began with extreme depression in the
stock and speculative markets. owing TO
the heavy OutgO OF gold. Stocks fell
rapidly, and on Monday averaged lower
than at any time this year, or during the
Venezuela alarm in December. There
was "A sharp recovery on the decision to
turn gold into the treasury.
business of an kinds has been consid-
erably affected by the monetary condi-
lions and is slow to improve. The
produce markets have been seriously de-
pressed, lard making the lowest quota
tions on record. Nothing appears of en-
enlargement In the industries, and there
has been a considerable further decline
in the working force The closing of iron
furnaces continues, and yet prices fall
as the unsOld stocks are the largest ever
known, while the demand is remarkably
light. Southern No. l at the east is nom
inally Sll.25 and Pennsylvania Sl2 with
Bessemer $ll.75. Pittsburg and grey forge
s975, but even these and all prices for
finished products are shaded to secure
business.
THE general Generalization is partly due
TO the growing belief that the large com
binations which still hold up prices can
not hold them long Nearly all the wire
and wire-rod mills are closed sales of
nails are small; bar 4ron at IL is being
largely superseded by steel at 05, open
hearth billets are offered below Bessemer,
The demand for rails IS very light and
the great structural works at Homestead
will go on half time unless orders this
week are better. Minor metals are also
weaker.
The textile industries are rapidly re-
ducing their working force as the pros
pect for future demand does not grow
clearer, and while prices are nominally
unchanged. 1t is because there is little
chance of business at present. The state
of wooden manufacture appears in sales
of wool at the chief markets, for the week
the smallest ever known. The prices do
not nominally change but are shaded to
make sales. There is little new business
in boots and shoes.
THE failures for the week have been
PSI in the United States against 2O2 last
year. and 20 in Canada against q last
year"