The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-06-20
TRADE IN ITS MIDSUMMER RUT
No IMPROVEMENT NOTED IN IN
DUsTRIAL LINES.

The Activity AI.Ong Dry Goods Job
bers of "A Hand TO Mouth Charac-
ter-Quotations OF Manufactured
CottOns Cut TO Attract Buyers.
Manufacturers OF WOoIens Moro
HOpefuI-The Lumber Trade Dis
appointing.
New York June 19.-Bradstreet's to-
morrow viii say; "a national presiden-
tial convention 81 the opening week of the
between seasons period Of dullness eX-
plains the increased restriction in the vol
une of general trade. In industrial lines
there is no improvement. In iron and steel.
prices OF some varieties tend lower. and
buyers manifest little interest as to re-
quirements. Present activity among dry
goods jObbers is confined 10 working of
odd lots preparatory to stock taking.
Manufacturers Of cottons have cut quo
tatiOns 10 attract buyers. and while there
is increased activity in hannels for fall
delivery, recently opened fan prints have
found few buyers. Manufacturers Of wool
ems are reported more hopeful. and 10 be
making inquiries as TO supplies of raw
material, but quotations for wool at the
interior are still above parity with sea-
board prices.
AT eastern centers the lumber trade
has been disappointing.
AT Baltimore general trade is very
duh, although some merchants are pre-
pairing to send travellers south.
crop prospects in Texas are unfavor-
able, owing 10 the lack of rain, but quite
satisfactory in South Dakota and west
into Washington.
Relatively the most favorable trade
report of the week is from Chicago,
Where inquiry for iron and steel and IN
creased specifications for work are COM
ing forward more free y. This has created
a better feeling, and the business outlook
there IS more favOra Bile.
Chicago JObbers in dry goods, clothing
and shoes report fair sales for fall de-
livery, and packers have made heavy
SAFES or hides at the best prices of the
The business failures throughout the
United states continue 10 run somewhat
above the range in like weeks in preced-
ing years. The total reported this week
IS 200 compared with 234 last week and
81 IN the week one year ago There Is a
moderate increase in bank clearngs
amount TO S1.03S0oOOOO this week, an in
crease of 106 per cent. over the preced-
ing week, but a decrease of 3.5 per cent.
as compared with the corresponding week
one year ago"
New York, June 19.-R. G. Dun & CO. will
say tomorrow in their weekly review of
trade; Failures for the week have been
276 IN the United States, against 22S last
year, and 2S in Canada, against 81 last
year.
There are continued signs that a gain
IN business has begun. Stocks have gone
higher than they were before the arti-
ncial break ten days ago, wheat and cot
ton are in better demand. there is more
confidence in monetary circles, and the
tendency toward shr-ukage in great in
dustries seem in some measure at least,
to be checked. While the outcome of the
democratic convention is uncertain, and
~ At aNafaNNn
danger, a sure and strong Improvement
could hardly be expected, but the tone in
business circles has grown distinctly
more hopeful
The boot and shoe industry not only
holds its place as the most prosperous of
the great Industries. but reports some
gain both in orders and in prices. Tex
tile manufactures do not gain.
The only change in cotton is a reduc-
ton, in bleached shirtings in standards TO
the loWest price ever reached, though the
change discloses no new weakness, but
a belief that the time has come when sales
can be effected by reduction, and large
sales are now expected. Stocks of dealers
are believed to be so low that replenish-
ment would now make a great change in
the condition Of the industry.
The waiting IN iron and steel brings a
shghtly lower average of prices, the low
est since April l, and only is per cent.
above the lowest of the year. though the
combinations make no change in quota
tons. Beams are quoted delivered in
stead of at mill, but numerous contracts
at current prices has so declined that
American wire rods are offered a compet-
ing prices in England; scarcely anything
Is done in iron bars, because steel bars
are off IL cent, and the billet pool is still
undersold about 81 by middle men, while
many works are putting up steel plants
OF their own. Plates are weak, and also
sheets; and orders for rails. though nu-
merous, are not large. Southern No l is
offered 81 below Pennsylvania pig, and
grey is 10 cents lower at Pittsburg. Since
coke was advanced 10 81 per ton, the
ovens at work have decreased 80 per cent
per cent"