The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-06-06
TIMES IN TRADE STILL TOUGH.
THE DEMAND SMALLER AND AND
PRICES SAGGING.

The Uncertainty in the Political Sit
uatiOn One Of the Factors That
Keeps Business Upset-The Iron
and Nail Pools UndersOId by Out
side Manufacturers-Bank Clear
inEs Reduced.
New York. June 5.-Bradstreers to-
morrow Will say. General trade contin-
ues depressed in almost all lines. The de-
mand IS smaller than a week ago, and re-
quest for offerings of commercial paper
have decreased. Mercantile collections
continue complained Of. and the tendency
Of prices. particularly of cereals. sugar
coffee. pork, products. cotton and cotton
goods and iron and steel continues down
ward.
AT the south the more favorable fea-
lures are the rain which visited South
Carolina, Georgia and Alabama, with
benefit to the crops; about one-sixth in
crease in the cotton acreage Of Texas
and higher prices for rosin and a larger
volume OF business at Nashville, Charles
ton and at Baltimore.
''Nebraska's crop prospects were never
better.
There was a moderate increase in the
demand for dry goods at Chicago. but
business there generally is Disappointing
The check to trade at ST. Louis is in part
the result of delays in the distribution
of merchandise on account Of the late
storm. Unseasonably cool weather and
rain have interfered with retail trade in
the territory tributary TO Kansas City.
"The May bank clearings are heavily
reduced rejecting the quietness in trade
and speculation. They show not only a
heavy falling off from May year ago
but are smaller than the April total
something which has occurred only
cleaflngs at slXty-nine cities for May ag-
gregaJe A,2lS, 100000, a decrease Of 10 per
cent. from May year ago, and OF IA per
cent from April this year.
The total number OF business failures
throughout the United States this week
as reported 10 Bradstreets s, IS 30; com
pared with 221 last week and 80 in the
first week of June, 1885
Makers OF cotton Tor export are doing
relatively the best business. OVer-supply-
ing of cotton fabric continues to depress
prices. Much WOOlen goods machinery
continues idle and the sales Of wOOllens
for fail delivery have not held up as ex-
Shoes continue firm and factories re-
port large number of orders on hand
which strengthens leather and hides.
Iron and steel prices in some instances
are maintained by the strength Of pools
Either consumers are resisting the de-
mands OF combinations by Withholding
orders, or nearby wants for staple makes
of iron and steel have been over-estI-
mated. Production tends to decrease"
New York. June 5.-R. c. Dun & Co.
VIII say tomorrow, in their weekly re-
view of trade: Failures for the week
were 234 in the United States, against
195 last year, and % in Canada, against
% last year 1t is highly suggestive with
as little help as there is now from new
business, that the markets are so nearly
maintained. The opinion gains ground
that more active business is to be eE-
pected after the conventions have been
held and the safety and the sufficiency OF
the crops have been assured.
The decline in wheat and cotton has
helped the marketing of the surplus,
that exports have been more LIBERAL
The hardest problem of the day is
whether iron and steel prices can be main
tanned, as they have been during the past
week. The nail association have failed
thus far to win over competitors who
undersell them, and are able to manu-
facture 10000 kegs, against every 100000
by concerns in the combination. The bar
selling price of steel bars. Open hearth
billets are more freely sold at Pittsburg
below the price asked for Bessemer, aud
middlemen are still selling Bessemer BIZ
lets about 81 below the price fixed by the
pool. Naturally the doubt regarding the
maintenance of prices greatly checks the
demand for the present, but belief thar
a much larger demand is certain and will
not long be delayed is the one thing
which prevents a considerable decline.
with some cotton goods reduced stIl fur
Their in price and glnghams TO the lowest
point ever known, while no increase ap-
pears in the demand. Sales of wool still
fail below half the quantity required fer
full consumption, and prices have fur
Their declined"