The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-03-14
TROUBLES OF THE TRADESMEN
PRICES SAGING UNDER HEAVY
STOCKS AND LIGHT DEMAND.


In COIIectiOns-The Quotations for
Most of the Staples Lower or Tn
changed.
New York, March 13-Bradstreet's to-
morrow will say: 1.-THE only conspIcu-
ously favorable feature of the general
business situation is found in Bradstreets
report of the February gross railway
earnings throughout the country. The
receipts of 126 companies last month were
larger. with a single exception, than in
any preceding month for more than three
years. the February total in 1896 being
1874, 4s4. 900. a gain over that total last year
of nearly IA per cent. The heaviest gains
in gross earnings last month are reported
by the Changers, the Pacific and southern
lines in the order named, with from p to
20 per cent. larger totals than in February
last year. The smallest increase Is re-
| ported by the coal roads.
THE weeks total bank clearings, $685.
| OO00O0 continue their see-saw movement
without special tendency. Contrasted
! with week ago, this weeks total is II
per cent. smaller, but per cent. larger
| than in the second week of March, 1895.
| General trade shows no marked
| changes. The distribution of merchan-
| disc is most active for dry goods, hard,
ware, shoes and millinery, paints, oils ana
| heavy chemicals, but has been unsaJls-
factory. Jobbers report spring trade OF a
waiting character, que 70 DeiabSeu sno"
| storms and unusually cold weather.
| collections with few exceptions are no
| better and in many instances less salts
factory. which tends to retard the move
ment of merchandise.
'aThe cotton goods manufacturing in
| dustry is unsatisfactory, with a SLACK
| demand and heavy stock. Production
| has been restricted and further smut
down is talked of. Prints and ginghams
/ are most active. -.
THE transactions in raw wool are limit
cd and the market is very dull.
Iron and steel are as quiet as IN the
preceding weeks, and in some respects
! less faVorably situated.
From all this, the general trade sit
uation throughout the country may De
regarded as less satisfactory az the mo
die of March, 1896, than had been antlcl-
pated Even prices of staples have re-
fused to make and maintain advances.
Among the decreases in quotation are
those for -four, wheat, Indian corn, oats,
lard print cloths, steel and pig iron, Whlie
the prices of wool, leather coal, PORK ana
sugar are nominally unchanged 0 oIlGe
is higher, but not based upon 9 S,ll
conditions affecting demand. The I'M
provement in the actual demand LOT COT
ton at home and abroad is BACK OF ts
advance. Petroleum, also, is higher as
are lead and nails at western eeh1efs'
where the demand has improved. ,.-,
'The business failures IN the United
states this week fully maintain the ra-
| flo of commercial embarrassmehts re-
| nor+ed of late with a total of 2S2 Tor the
six business days e en- Ing rnceding Week
and 262 in the corresponding week one
year ago .,,.,,s+a ,obbars in shoes
aud dry goods report satisfactory spring
sales. and Atlanta a larger volume OF
business than in the corresponding Week
tbo ,,yosnect for a good trade with steady
weather. while at other points, parucu-
larly Texas, the trade movement Is nou-
crate and collections unsatslac'oiS
R. G. Dun & Co. will say to-morro W;
"The failures for the week nave 5 Deeh oot
in the United States, against 200 ids.
Year and co in Canada, against 81 last
year Waiting is still the rule. LATE
hope but little actual business eA exp = IL
the strength of some markets anu the
Weakness of Others Thus far there is a
decided increase in the demand for boots
and shoes secured by conSiosr66 rancbes of
business concessions are mace III Nalh' vi
are not made. - ,,,
that one of the most important business
interests has realized definite improve
ment The Insurance companies OF wnlch
returns are given in detail this week
show a larger business and larger income
than ever before, and also most re-
narkable soundness OF mortgage loans
and other investments.
"As prices about Feb p were on the
whole the lowest ever known in this couI-
try, considerable space is given this week
to comparison of quotations in the most
important branches OF manufacture
which show the extent of the reaction
since the rise last fall. 1t is especially
noteworthy that prices of materials nave
varied quite differently from from prices OF
manufactured proddnctst.b Thus v cotton n Is
but cotton goods average only 1917 pei
cent Wool is but 3.5 per cent. higher
than year ago, but woollen goods are or
the whole about 4 per cent lower. Pig
iron is only II per cent. higher, while the
finished products of iron and steel aver
age As per cent. higher. Boots and shoes
are practically not higher than a year
ago while leather has risen 11.5 per cent
and hides at the moment are only 20 pei
cent higher. These comparisons are i'm.
portant because they disclose something
of the grave dislocation of prices which
Inadequate consumption and combination
'The output Of pig iron on March 1. was
1883 tons weekly, against 1889 Feb. /
| hut the unsold stocks have risen SO, 764 tons
| during the past month, or 17,4H weekly
and the unsold stocks of the great stee
| companies are not included. There is rea-
| son to believe that actual consumption Is
still at least 10 per cent. smaller than the
production of pig, and the price of Besse-
mer ct Pittsburg has again declined Ia
| $12.25, NTH exceptionally large sales even
| below that figure. Prices of finished pro-
| ducts are not quotably lower, although all
markets are weak in tone. OF the minor
| metals, copper is in moderate demand at
| Hip per cent, and there is more move
| ment in tin at 13.4e, while lead is slightly
weaker at 3.15c, Tin plates are weak, in
1
| Cotton goods sell but slowly notWith-
| standing the recent reductions in price,
| and the enormous accumulation of unsold
stocks causes apprehension in many quar-
| ters. In woolens the demand is very large
| ly for low grade goods. and fierce compe-
| titieE affects the prices of the better
| grades materially. In clay worsteds the
| manufacture has been so far overdone
| that stoppage of some most important
| works is considered not improbable. Sales
| OF woods at the three chief markets are the
| smallest in five years. Prices are still
| maintained with decrease in the Austria
| liam supplies.
| "rhe~ market for wheat is weaker with
no better reason than the government re-
| port of wheat in farmers hands. which is
| altogether out of keeping WITH the govern
| ment estimate year ago, and yet is pro-
| badly. more nearly correct. Corn is a shade
| firmer without apparent reason and cotton
| gained a sixteenth, although the prospect
1 of the yield this year is at least as good as
/ it has been at any time. The stock market
1 has not been much changed
Blown Out of Blast.
Reading, Pa, March 13.-The Bobesonia
| furnace. which has been in blast the past