The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-01-18
TRADE IN A PECK OF TROUBLE.
BUSINESS MEN PERPLEXED BY THE
STU ALTON.

The Money Markets Future and the
Foreign Situation Cause Wide
spread Hesitation in Every Line.
The Tinkering with the Tariff Al
so Having a Bad EHect-The SEN
ate's Failure to Take Action ON the
Financial Situation Another Adj
verse Factor.
New York, Jan. 17.-R. G. Dun & Co viii
say in their weekly review of trade, to-
morrow: 1.-THE failures for nine days Of
January have shown liabilities Of $5568,OO
against a, 522, 531 last year in ten days and
1904, 225 in eleven days of 1894. The fail
ures for the past week have been much
larger in magnitude, numbering S95 in the
United States. against 373 last year. and
81 in Canada against 60 last year.
The situation could hardly be more per-
picking for business men. Practical mer-
chants, manufacturers, or bankers can
have little sympathy for those who minim-
ize their difficulties. None doubt that the
government will raise money to meet its
obligations, but how far the money market
will be disturbed or the treasury reserve
first diminished none can say. The bust
ness world cannot know as yet how FAR
foreign questions may upset calculations
though there seems every reason TO eX-
pect a peaceful settlement. 1t cannot know
what may be the duties on any important
class of imports a month hence, whether
the deficit of revenue Will continue or what
other taxation will be levied. The failure
of the Senate thus far to take any action
upon the financial measures proposed by
the President or those passed by the House
affects unfavorably all branches of busl-
ness Under such adverse circumstances
it is actually encouraging that the shrink
age in transactions and resulting CONNER
cial disasters have not been greater. But
four large failures within a day or two
Indicate that the same condition cannot
continue without much embarrassment.
Domestic trade, as shown by clearing
house payments, is S.S per cent. larger
than last year, but 27.S per cent. less than
in 1892, and in nearly all trades there Is
Cotton receipts still indicate a yield
neither as small as Mr.. Neills reiterated
estimate of 6,5000O0, nor as large as the
1000 900 bales estimated by others, but II
is vet to be seen whether the supplies held
for better prices are of consequence. The
price declined an eighth, with accounts OF
q narrower demand by spinners abroad
and declining prices for goods in this
Cotton goods are not quotably lower,
but concessions to secure business are
reported in many instances, and many
of the mills have been running largely in
anticipation of orders not yet received.
There is a little better inquiry for sta
pies with indications that dealer stocks
are running low. The opening of fine and
fancy woolens has brought no change IN
prices and reVisons caused by recent open
ings of worsteds have been generally to-
ward lower prices.
'sThe pig iron output weekly Jan. l, was
207, 4S1 tons, a decrease of 1916 or 4.3 per
cent. in decrease, and unsold stocks in
creased 81, l25 TONS or over $1,000 weekly,
while the great steel companies whose
stocks are not reported produced IN De-
cember 342 1856 tons. The production is SO
far beyond the present demand for finished
products that temporary stoppage OF many
furnaces islexpected. Yet pig iron is nigh
er, Bessemer about 80 cents, and Grey
forge and Anthracite % cents although
finished products are generally weaker,
with less demand. Controllers OF the coke
and ore output are said to have agreed TO
maintain prices above those OF 1888, Which
means dearer pig iron, but II orders
for finished products do not materially in
crease, the advance in materials can hard
~ be maintained"
Bradstreets' will say tomorrow:
while general trade has not shown
widespread tendency to revive from the
holiday depression, there are favorable
features in revival in l iron and and steel
prices, and continued heavy cereal ex-
Except at Baltimore, New Orleans,
Buffalo and certain lines at Chicago, ST.
Louis, St. Paul and Minneapolis jobbers
in staple lines report business slow.
Travellers are on the road, but returns
are irregular, in only few instances in
dicating the usual volume of orders for
spring delivery. Cotton goods makers re-
port having shaded prices of some goods
on hand, but hold quotations firm on or
ders for future delivery, the advance in
raw cotton still being above a parity with
that of products. Raw WOOL Is stronger,
though the volume of business is small.
While hides are nominally firm at I'M
changed prices, the offerings of leather
have been freer and quotations have
weakened, circumstances which have
shown themselves in the wholesale price
The feature of the week is the adj
vance in iron and steel, and the revival
of announcement at the outlook. Besse-
mer pig and billets are up from 65c to 75c
per ton at Pittsburg, and $1.25 at Chi
cagoa with the outlook for a further ad-
vance The interests controlling the pro-
duction of coke and of Lake Superior iron
ore having determined that prices of
those products shall not react to the level
of 1894 the producers of Bessemer pig and
bilIets in the face of the restricted output
of furnace and mill since the first of the
year, together with the improved demand
within the week, find themselves able to
advance prices.
bacco due to the occurrences in Cuba;
wheat, based on continued free exports,
and pork and lard on the advance in cattle
and hogs.
trade which has made itself apparent now
for more than a month.
"The total of bank clearings through
out the United States was 81, 060, 600, co.,
nearly IA per cent. less than last week
and SIS per cent. less than in the third
week of January, 1885,
One of the Medical Board Resigns.