The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-02-22
REMAND FOR GOODS IS DULL.
LARGE STOCKS OF MERCHANDISE
CARRIED OVER.

,,errhants Very Conservative In
rbcir Purchases - Country ger-
chants in Texas Asking for Ex-
.e,Sicns-The Record OF Declining
arotations Confined in Most
rfnes-Coaee and sugar the Most
corspfcuOus Articles Showing an
,avance in Quotations.
New York. Feb. 21.-Bradstreet's to-mor-
-ov viii say: While no radical improve
-,s7t has appeared in the general trade sit
cation. more favorable influences are re-
ported than for some weeks.
Among the less satisfactory advices
,sr4craphed Bradstreets are the check to
fi--rfbutioa of general merchandise due to
che extreme cold and continued conserv-
,-f,e purchases by interior merchants
vest and southwest. owing to the large
stocks of merchandise having been carried
o,-r. Advices from Texas are that coun-
t~v. merchants are asking for extensions
and reports from leading cities south are
that the recently favorable state of trade
is marked by a less active demand in al
most all lines.
NO Improvement is shown in the de-
raud for cotton and wooden goods, manu-
facturers of each continuing to find cause
for complaint. The record of declining
quotations begun last week is continued
for some varieties of cotton goods. owing
TO the reaction in the price of cotton, in
the tendency of quotations of wool to de-
cline and lower prices of wheat flour.
corn. oats, pork, lard and petroleum.
Iron and steel, in moderate demand are
steady with the request for rails rela-
rivelv the most encouraging, and there is
no change in quotations for lumber or for
.s'Tbe conspicuous advances are on cof-
fee and sugar, although leather is firm
after the advance for hides week ago.
NO more satisfactory view OF trade con-
ditions in this and the preceding week is
reported than the bank clearings total for
the six bus ness days ending Feb. %,
81 $4,000, an increase of II per cent. over
The total last week and 81 per cent. over
the total for the third week Of February,
1885 Among the industries, boots and
shoes and manufacturers of leather are
easily conspicuous for reporting relatively
the most active demand, and PdttSburg
and Baltimore jobbers of general mer-
chandise continue the previous records
of a satisfactory spring business. Hardly
less favorable than the improvement in
bank clearugs is the sudden drop in the
total number of buiness failures through
out the country that fer the week being
216. against ISL last week. and 327 in the
corresponding week one year ago"
DUN q Co.'S weekly review of trade
curing
the two weeks Of February We're 81, $50. 1893,
against s., 559.9S5 last year. Manufacturing
liabilities We're S. 1853. 1896, against 81, 592, 3l9
last year. while trading were $3,S42, O53.
against $3.359,0l9 last year The failures
for the week have been $50 in the United
States, against 3O2 last year, and 60 in
Canada, against IS last year.
THE restoration of the treasury reserve
has been effected with remarkably little
monetary disturbance, though stringency
in many markets, greater elsewhere than
here, and greater in commercial than in
other loans, have somewhat retarded bust
ness. The rapid rise in the price of bonds
strengthens public confidence The prompt
action of the House on the silver bill has
helped to increase foreign confidence in
American securities. In no important
branch of business is there yet apparent
much disposition to expand. Purchases
TO cover several months actual consump-
tion were made within a few weeks on
rising markets last fall; distribution to
consumers has been slow, and reductions
in prices have not brought a renewal
of such buying. The prices of commodi-
ties as whole are now at the lowest
average ever known, though only half
OF l per cent. below the average of Sept.
8, 1880 Hides, leather and their products,
textile goods and iron products have de-
ciined much since that date. and meats
are also lower.
In almost all manufactured products
the decline continues, though in some
classes quotations are so irregular that
the change cannot be accurately meas
ured Bessemer pig iron and Grey forge
are a shade lower at Pittsburg, and struc-
tural beams and angles have been re-
duced to secure business, but now orders
for products are comparatively small, ana
some furnaces in that region have been
banked
Though business is less than was ex-
pected at Chicago, it is increasing for
materials for cars and car-wheels, and
excellent in plates. The cast pipe BUSH
hess is active here, but little is doing in
rails and the new bar classification is not
favored
Prices are steady at Philadelphia,
plates doing a little better, but other
branches are dull.
Textile manufacturers fail as yet to
meet the demand expected and prices are
generally weak, open reductions aVerag-
ms : per cent. for cotton goods and
since Jan. about 8 per cent. Not mucn
increase of buying answers to these re-
aucuons. and of some goods the accum-
ulated stocks are quite large.
The volume of domestic trade reflect
ed by clearings is 1875 per cent. larger
tnan last year. Railroad earnings in
FEBRUARY thus far are 1876 per cent. larger
man last year. Stocks weakened until
thursday, but then advanced and closed
ABOUT Is cents per share higher for rail-
The exports of products in two weeks
~ FeDru2ry have been Z per cent. larger
man last year, with prospect of an in
CIease IN grain. Though cotton bills are
me increase formerly Observed but for
than last year.