The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-11-14
BUSINESS VERY MUCH BETTER
THE CHANGE SINCE THE ELECTION
ALMOST MIRACULOUS.

o,xers-Hundre of Manufacture
ing Embellishments Resuming
oneratiOns-IrOn and Steel COmbi-
cations Expected to Reduce
prices - The Coke Combine Also
Being UndersOId.
,,ay York. Nov. 1S.-R. G. Dun & Co. to-
morrow will say in their weekly review of
trade. mo one now doubts that the
brighter day is dawning, and it is com
,,on remark that never before has business
snovn so great a change for the better
,,ttbin a single week. To the change of
Conditions, and of spirit described last
mock there has already answered a large
,,craase in the working force and in the
,,olume of trade. Dispatches telling of
,hor+ 800 establishments, which have
o,,onad or materially enlarged their force,
.bHteb they fill many columns, give only
mart of the fact, for throughout the coun-
INV the gain has been surprising even to
the most hopeful.
aForeign need of American wheat con-
,irues an important factor and the price
toe advanced to SSc, gaining cents for
ora week 10 cents for two weeks and "a
osnts since early in September. The price
&c fine highest since June, 1892
o,rsnv textile works have been starting,
or Increasing force, mostly on orders
hooked weeks ago. But there has not been
,,u,b gain in the demand as yet. After
purchases of 100000 pounds of wool in
ave weeks the transactions fell to 6,423 700
mounds last week, but prices We're strong
and in some grades 1 cent higher, and
oven greater advance is demanded at the
Most while the foreign markets are higher
and the Australian fully l cent per pound.
1.-THE market for cotton goods is not yet
active. but more liberal estimates of the
cotton crop are generally credited, causing
an X decline to cents.
"Tbe output of iron furnaces in blast
Nov. was 124,O7 tons weekly, having
been increased II, 295 tons, or 10 per cent.
in the latter part of October, by confidence
in the future. All the markets were
stronger. although the enormous pur-
cbases of pig iron in advance of needs
causes comparative inactivity at present
Plates and steel bars are 81 to SO per ton
higher. and sheets in better demand. An
tbracite and Bessemer pig have advanced
a shade and the average of prices IS "
cents higher. The billet pool is in pro-
rracted meeting here this week to decide
upon its course, and is still undersold.
The BEAM bar, rail and wire nail assoc
Citations meet this week, and the under
selling of wire nails by outsiders has gone
so far that a decline of 40 cents is openly
quoted.
'"It is noteworthy that the prevailing ex-
pectation, notwithstanding the general
Improvement in business, is that some, If
not all these combinations will decide to
reduce prices. The coke combination, 1t
now appears, has not prevented large
contracts for future delivery at less than
g. its fixed price, and even less than Sl.75,
but the output last week decreased,
THE change in the money market is
striking. Instead of $2,5O0,0O0 going out
to the interior, as before, 50. 100000 have
come in this week; instead of 50 cents dis
count New York exchange at Chicago Is
at 20 cents premium instead of mer-
chants and manufacturers vainly hunt
ing lenders, banks are hunting for more
commercial paper. Commercial rates are
down to per cent. on the best paper.
Foreign exchange is higher, owing to
sales of $4,000, 600 governments taken by
the Bank of England, as a member of the
syndicate early in 1895, to payments of
100000 sterling loans, and to foreign
realizing on 81, 100000 of securities, but all
these are in effect taking profits for conf
dence in American honor.
Failures for the week have been 216 in
the United States, against 2s3 last year,
and 46 in Canada, against 40 last year."
Bradstreet's tomorrow will say: 1.-THE
volume of business improves slowly in
nearly all lines. The most active demand
is among jobbers in dry goods, clothing,
millinery, shoes, leather and hardware,
and in the leading Industrial lines, near
ly 200 mills, factories and foundries having
started up this week, one-half of them in
iron, steel, machinery, tools, carriages,
lumber, glass, wooden and cotton goods
lines. About 100 other Industrial estab-
lishments have increased working forces
or working hours, or both.
"a partial record of the number of men
given employment in Industrial lines since
Nov. g. shows an aggregate of nearly
10000.
The demand for iron and steel has not
increased after the activity of week ago,
but prices are firm-in some instances adj
vanced-and the trade continues confident
of large business during the coming
year. Cotton and cotton goods continue
firm and unchanged in prices; print cloths
er, on a more active demand, but manu-
1acturers are not supplying in excess of
wants. Other advances in prices are for
leather, shoes, white pine lumber, petro-
leum, lard, sugar and for wheat, corn and
oats. The strength of the statistical posi-
uon Of wheat is as marked as heretofore,
ana renewed inquiries are received from
Australia. The conspicuous decreases in
prices are those for coffee, pork and tur-
pentlne. Western jobbers report an in
crease in mail orders, and that between
seasons in some lines alone prevents I'M
provement in demand from jobbing be-
ing general. Mercantile collections
throughout the central, western and
southern states are easier, but complaints
are still heard from the west.
Bank clearings leaped up 20 per cent
lhls week, compared with a week ago, the
total being s119O000,0O0. Compared with
the corresponding week last year, the In
crease is only LIS per cent. October rail-
way earnings, rejecting ante-election con-
dItons make the poorest showing of any
month for several years. The October to-
tdI OF l2l roads is $4S, 1850, a decrease Of
SO per cent. from year ago."