The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-05-09
BUYERS PLAYING THE BEAR.
PRICES WEAK OWING TO 4 HEsI-
TATION To BUY.

getter Times Confidently Expect
cd and the Failure of the Exports
nf Gold TO Produce Monetary Dis
turbance Proof of the Fact-The
sftuation Trying for Textile Man
fractures.
Nsw York. May s.-R. G. Dun & Co., in
r.r weekly review of trade tomorrow,
.H say: THAT exports of S5.S50.00O gold
his week have produced no monetary dis
..rIance is at once proof Of the sound
ass of financial conditions and of the
sreyailing confidence in better things to
---. II does not matter whether the
-l is required for Russia or anywhere
-se j, would not go from this rather
.sau other countries if there were not
5.lances to be met.
Much of the hesitation at present is
3la 10 temporarily reduced demand in
some industries, and in iron and steel the
55wer of the new combinations is being
generally tested by refusal of orders, so
.18t production exceeds consumption but
-re consumption exceeds the new buying.
Tie general irregularity of prices and
tbs slackness Of demand for finished pro-
duets do not prevent the marking up of
prices by combinations, but are largely
due TO doubt whether such prices as hxed
can be maintained. Pig iron is weaker at
tie e,sst, and aIso at Pittsburg, and
most finished products are weaker with a
ramarkably narrow demand.
For textile manufactures the stua-
ton is trying. Cotton mills have a fairly
active demand, though not equal to their
normal output, ana for many months
a fOf.
better things, so that some of them are
stopping, although the demand for some
grades, with higher prices for cottons,
has helped to a small advance in prices.
Print cloths are an eighth higher, but
some other grades have declined, so that
the average of all quotations is slightly
lower. Wooden manufacturers find prices
ol wool sagging, both here and abroad, the
decline al London having reached about
per cent while the average of quotations
Jy Coates BEos., Philadelphia, was nearly
j per cent lower May J. ana prices have
been further reduced by concessions TO
clear off stocks.
price 70 SD cents, and profits have been
realized from the men who have sold cot
ton they did not own; but Il IS still a fact
that the outlook for next falls crop is un-
usually favorable, while stocks here and
abroad exceed all possible demands until
The failures for the week have been 23S
in the United States against 227 last year
and Il in Canada against "a last year.
Bradstreets tomorrow will say: Re
lauVely unfavorable features of the gen
eIal business situation this week include
uuseaSOnably cool weather, which at some
Ceuters has checked trade.
In Texas further improvement in the
cotton crop outlook has stimulated job
bers to send out travellers to anticipate
the demand, and the region of which
Chattanooga is the commercial center is
enjoying the results OF an extension of
the truck gardening industry.
"Savannah's rOsin and turpentine re-
ceipts and shipments are quite active.
The outlook for wheat in Eastern Ore
gOn is bright, and the like is true of Kan
sas, Nebraska and Iowa.
More important staples for which pri-
ces are higher are cotton, print cloths,
Indian corn, oats, lard and coffee; while
quotations for pork, coal and lumber re-
wool is reported at Boston at the lowest
ON record from which it may be in
ferred bottom has been reached Wheat
Hour, wheat sugar, petroleum, Bessemer
pig and foundry irons have likewise been
shaded in price.
The evident, though gradual. increase
in the volume of business during the past
two or three weeks shows itself in an
enlarged volume of bank clearings. The
aggregate for the week is 81, 135 100000, or
10 per cent. more than last week, but
only seven-tenths of l per cent. larger
than in the first week of May, 1895, al
corresponding week of 1884 AS compared
with the like period in 1898 the weeks
total clearings show a decrease of II per
cent, and as contrasted with 1892 a de-
crease of rs per cent.
There are PSI business failures report
ed throughout the United Statea this
Week, as compared with 254 last week.
~ IN the week one year ago, 1873 in the
nrst week OF May 1884 and as compared
VII 2lO in the corresponding week of