The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-01-04
DULL AS THE OLD YEAR DIED
THE VOLUME OF BUSINESS FALLS
AWAY SHARPLY.

Wholesalers Taking stock and Pre-
pairing Samples for Their Com
merciaI TraveIers-A SIacl<ening of
Activity in Some of the Important
Manufacturing Lines Also Notice.
abIe-MOst JObbers Confident as to
the Outlook for the Future.
New York, Jan. 3-Bradstreets' will say
tomorrow: ''rhe week which ended 1895
and ushered in 1896 has been very duh in
mercantile circles. as is usual at this pc
riod. The volume of business has fallen
away sharply, owing to the New
Years holiday and the quiet
in trade circles at time when
stock takings and preparing samples
for commercial travellers are taking the
attention of jobbers and commission
houses.
"A slackening of activity in some of
the important manufacturing lines is
likewise noticeable. and it is significant
that kilograms from so many centers re-
port mercantile collections slow or unsat-
isfactory, the exception being at few
points in the southern states. Jobbers in
leading lines at many centers are conf
dent as to the outlook for trade in the
near future, although in many instances
fears are expressed of an unfavorable eff
feet. due to inability to secure necessary
legislation on financial questions.
"Advices from st. Louis are that the
total business last year was the largest
since 1892. The volume of Chicagos job
bling trade last year was 10 per cent. larger
than in the year before. and the manu-
featuring output from 10 to 10 per cent.
larger. Another gratifying report is from
lantf hot ns i'm
the region tributary to that city are on
firmer financial basis than in previous
years.
largest for any month last year but one,
October, 1895, and furnish satisfactory
closing chapter to a years large gains in
bank clearings. The total clearings at
sixty cities for December aggregate So
O26, O56 1S7. a gain over December last year
of 176 per cent.
''The prices movement has taken a start
upward and for the first time in many
weeks, a large majority of staples quo
ted close higher than one week ago. The
most Important cereals-hour, wheat,
corn and oats-all are up, as is pork and
sugar, both raw and refined; petroleum,
both crude and refined; cotton, wool and
lastly hides, the latter having stiffened
the leather market. Quotations for lum-
Der and for coal remain firm at the levels
of the preceding week, as do cotton goods,
notably print cloths, the increased price
of which has not enjoyed relatively the
advance shown by cotton. In addition to
and steel, are off 25G50c per ton, with quo
tations still in the buyers favor. The
prospects does not favor relief from
the existing weakness in the iron mar
ket, as production is ahead of all rec
ords, with an output of about 100000
tons per month and stocks are accumulat-
ing Some furnaces may have to shut
down to relieve the pressure.
LAS is usual at this season, there is
considerable increase in the number of
the total reported being 403 this week,
against 316 last week, 373 in the week a
year ago, $50 two years ago, and as COM
| pared with 313 in the week three years
r. G. Dun & Co will say tomorrow in
! their weekly review of trade: 1.-The COM
mercial failures during the complete
| year, 1895, number 1887, against 1885 in
| 1894, but the aggregate of liabilities is
! slightly greater, $173 1876, $50, against $172,-
| 1872 $50. The bright promise offered by
| large decrease in the first quarter was
| followed by a small increase in the second
| in the last quarter of the year. In that
| quarter also the deferred liabilities of
/ each firm in business increased, and also
! the proportion of deferred liabilities to
| The effects of unreasonable speculation in
| materials. rapid advance in prices of
/ goods, heavy purchases ahead of distribu-
! ton, and enormous increase in produc-
! ton, clearly appear in the returns
| The produce markets have been the
| theater of surprising changes which have
! influenced all business. The acreage in
| cotton was wisely restricted in order to
! give producers a better chance for fair
returns, and the crop was further re-
| duced to some extent by injury, but
/ growers were injured still more by fran
! tic speculation, which checked exports,
! and by false information and advice
! Wheat producers suffered in like manner
| from wild speculation, which prevented
the exporting of many million bushels
and false reports which encouraged farm
ers to keep back their grain until the
cream had been taken off the market by
spectators. The inevitable consequence
has been very low range of prices, the
yield being clearly in excess of all de-
mand. The great crop of corn has ma
terially affected the prices of meats.
The course of the industries during
1895 has been materially affected by spec
ulation in materials Midsummer wit
messed tremendous advance, with a rush
to buy far exceeding the ordinary de-
mand for consumption. Prices rose be-
yond all, exciting stu more the anxiety
to buy beyond actual needs. Thousands
of producers strangely mistook the ex-
traordinary buying for a vast increase
in consuming ability, and extended
plants, opened mills, Increased force and
pushed production in many lines far be-
yond the actual consumption. Inevita-
bly, both traders and manufacturers were
stocks unsold. and claims against Gus
toners who were themselves tied up by
purchases beyond their, distributing
prices for the past three months and
though in scarcely any department did
prices rise higher than in formersyears
listing demand.
Rapid outfiows of gold, with high rates
of interest, caused anxiety, which was
checked by the decision to issue clearing
house certificates at New York Boston
and Philadelphia, and by prompt attention
to financial questions in congress, but at
the close another issue of bonds is ex-
pected. Offers already exceed the amount
of the issue proposed. The recent decrease