The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-06-13
POLITICS CLOGS PROSPERITY.
BUSINESS WAITING ON THE TWO
CONVENTIONS.

sound Money PInnks Needed TO Re-
store Confidence aud start the
wheels OF Trade Revolving Again.
Mercantile Collections slow and
Unsausfactory and Retailers Buy
Ing Only to Meet Their Immediate
Necessities.
New York. June 12.-Bradstreet's to-
morrow viii say: There is little or no
effort 90 push business at a period OF
so much uncertainty as to the precise
terms OF Che financial planks to be adopt
ed by the great political parties In ma
tional convention The general merchan-
disc movement continues as dun and con-
servatlve as heretofore, retailers, with few
exceptions. buying only for immediate
necessities. Mercantile collections contin-
ue slow and unsatisfactory, and there Is
no gain in cotton, woolen goods. iron or
steel industries
General trade in the central western
states remains quiet. No Improvement is
reported from Chicago, as compared with
the unsatisfactory records of recent
weeks. Improvement In demand for sta
pies at St. Louis IS among dealers in
paints and drugs Kansas City and ON
ana report relatively the best demand
among western jobbing Centers, notably
among wholesalers OF dry goods shoes and
mats and agricultural implements. Re
ports from southern distributing centers
announce an almost uniformly quiet trade
although good rains ia the territory trtb-
utary 20 Charleston and 10 New Orleans
have improved the crop outlook and
wholesale trade In Texas corn is suffer-
THE total value OF bank cIearings in
the United States for the six business
days, ending with June IL, Is $685., 100000,
y 7 HaHW HNaa NuH nna 4
80 less than the corresponding week OF
so far as tho movement OF prices
is concerned, the contrast with last week
lies in advance for -four, lard, sugar,
petroleum and tobacco. Decreases IN re-
cent weeks are followed by still lower
prices for wheat, Indian corn, oats, pork,
cotton and print cloths. Practically un-
changed quotations are announced for
leather, lumber. live stock and coffee.
WOOL which Us not firm, Is nominaly un-
changed. The total number OF business
failures throughout the United States this
week Is pa, compared with 236 last week,
ana Ed2 IN the second week OF June, 1885,"
New York. June 12.-R. G. Dun & Co.
will say tomorrow in their weekly re-
view OF trade: "The failures for the week
have been 246 In the United State, against
2i1 last year. and u In Canada against "a
last year. Speculative reaction has not
the least changed the business outlook,
The fictitious price made for wheat and
uals, and the change to prices more near
| ~ in accord with actual relations OF de-
mand and supply only conform TO condl-
months.
cit Is not the time to look for marked
Improvement in the industries, and the
best thing that can be said Of them IL
that none have as yet been seriously dis
turbed by threatened labor difficulties
i seems not improbable that all such diff
hcultesi except perhaps the controversy
about the wages Of the iron puddlers and
tin plate workers.
The output OF pig iron from June 1
was 1920 tons weekly, against 1S9 398 tons
May ], while the stocks unsold, excluding
those held by the great steel companies,
amounted to 7s5SB tons, against 769,532
May i and only 525,6l7 Jan. /. These fig
ures show that while consumption Is fair,
1t Is much below the actual output OF
pig iron, and the markets are extremely
dun, because great number Of orders
Tor finished products are kept back by
uncertainty regarding the maintenance OF
prices by the various pools and combina-
tions. The billet pool has been able to
make IT'S first large sale, but with a
guarantee OF the price for months to
come, While mtddlemen are still selling
biilets at Pittsburg SOC to 81 per ton lower
than the pool price, and the apprehended
weakness In finished products has clearly
appeared although the nail associations.
by taking In the Pittsburg Wire Company,
and Baackes g. Co. Of Ptttsburg has been
able to hold prices for a time. But steel
bars have been sold at / cent, against 3
cents asked IN the same market for iron
bars.
"Other changes in quotations are not
material but in all the markets the ten
dency Is toward lower prices.
The demands for boots and shoes seems
slightly better, Notwithstanding an ad-
vance Of 2hc per pair Is demanded on
some staple qualities. The textile manu-
facturers are making no Improvement.
The accumulation of cotton goods con-
tinues, print cloths have declined to the
lowest point ever reached, and a general
| stoppage to relieve the market is ex-
pected."