The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-08-08
EJECT OF MoORES KING.
,xrss DEPRESSED AND Sc
CURITIEs GO DOWN.

s seems Lifeiess ana Mohes IL
p..oming a scarce Article.
work Aus. 7.-Bradstreet To-
Aug. s. will say: in nearly all
--,se Is unchanged. in some de-
- .--sr-s ufeless. In the south and
.--ssr the heat has had an unfayor-
.-suence. but merchants in al d.
continue to buy for needs only.
-. ,+ is too early for fail trade TO as
large proportions. distribution OF
s--..o-r and shoes at Chicago has improv-
s,-,ewhar, although less active than
,--- ago. At several eenters bankers
--aterred not TO loan as freely as
---s-ofore. Merchants. not wishing 10 De
-.s,sa1 have accordingly curtailed their
.-.z-s for accommodation. Mercantile
.-1s.-sous are slow. in some Instances
- ffeicult TO make. Renewed scrutiny
.~.5frs has had an effect in restricting
the same.
lem and steel industries remain excess
a.sly dull Makers of pig are piling
s,osks. Large lots could be obtained at
.,resssions. Cotton yarn manufacturers
-,r. erreed TO curtail production so per
s,- during August, and owing to the
,5-k of demand western packing mouse
--,1Ioves have laid of. There IS no I'M
.-,v-rnent in wool. and some Phlladelphla
IYrs have shut down Portland advices
s-e that no considerable movement OF ore
e5n wool will take place until after elee-
sCotton goods remained unchanged, not
uitbstanding the higher prices for cot
The relative activity among. makers of
boots and shoes is because OF orders on
hand rather than new business. STOCK
In ha market
broken on Liquidation and bearisn pres
sure with an utter lack of buying support;
Besides the uncertainty OF the pontlcal
outlook and the slackness OF trade, there
have been several depressing factors in
Guiding the breakdown of a speculative
imitation at Chicago, the appearance OF
pressure in the money market ana TAX OF
damage to railroad earnings.
Business failures throughout the United
States number 269 for the week, decrease
compared with one week ago, when the
total was 294. The falling off is principally
IN the Middle and New England states.
AS compared with one year ago this
weeks total shows an increase of 60, and
with two years ago, an increase OF Is. In
the first week Of August, 1893, during the
panic the total number of failures was
Comparatively favorable reports con-
corning general trade are more numer-
Gus than in preceding weeks. Pittsburg
J0bOers report slight increase IN the
volume of trade, but at Baltimore there
is a marked Improvement, with jobbers
receiving orders freely.
The favorable condition Of the Texas
cotton crop continues to help jObbers at
Galveston.
Notwithstanding unfavorable reports
as to the cotton in Louisiana, expected
payments of sugar bounties next week
and favorable reports as to the Louisiana
sugar crop tend to stimulate trade at New
Orleans. Both Savannah and Augusat re-
port fair volume of business, with inn
Ga# IN Ill
lections are slow"
New York, Aug. 7.-R. G. Dun and Co.,
in their weekly review of trade tomorrow.
will say: 1.-The sensational collapse of
spectators at Chicago who controlled the
Diamond Match and New York Biscuit
stocks and had hoisted them to fancy fig
ures, with the consequent closing of the
Chicago Stock Exchange for a period vet
INDEFINITE, though followed by remarka-
bly, few failures, brings a sudden change
In monetary conditions throughout the
country. At least a month earlier than
had been expected Chicago had drawn
heavily upon its bank balances here. and
Withdrawals of all other western funds
may naturally result Europe was also
moved to sell American stocks rather
Freely SO that the average of sixty most
active railroad stocks fell about 81 IL per
snare and the average Of trust stocks
1T is important that the Increase af tho
merchandise exports 100000, or u per cent
over last year for the week and the DO
crease etia Of imports 500 200 or II per cent,
sui continues to limit the hills navaIoIe
abroad. The situation as TO cotton iS
uoubtiess critical for many producers F,x-
uemely hot and dry weather has doDa
serious Gus narm, but It must indeed, be an
t3Faordlnary condition that reduces the
yleId ~ per cent. in August Men of nnucb
hHoWIedge and experience but a few "a We
ago judged a yield of 100000 bales prob
bjgb am s4in II tney We're 100000 bales too
1l SUN those who now predict onIv
LUVg,VOO oales are likely to err In the on
pOsite direction. With a large acrea Sra
II Is Always safe to remember that only
a part part OF the crop is ever affected by mis-
fortunes between Aug. and frost Tho
P Wr rose almost beyond precedent SC on
Weahesday alone, and the alarm will
ino ie th oe OF service to planters in Civ
nIg Ihem better prices, whether BUYERS
reaIize profits or not "J els
LABOR IS more disturbed than rs,,al +to
S $50, sulke of garment workers here has
has bro oI1eeiiu n' the strike at Cleveland
nTaf 2 ntIh OUT again, and involves sew
al al olher branches of labor. The iro,,
s - lace men OF the Shenango valley ,se
fbou q bIee1 9l to the wages of May, 1895
Ine lron works throughout tha co,,n -,
TIle surviving to cut down cost in order -
Mp ip N operation; the mines of the CSo,a1
cot+ lange are stopping; the suspension Of
luton mills has become more ryana,-e,
s anu over 100000 spindles are sai5 To -
t tb at ran River alone, and proba bIv
6 5ri isnths or more of the entire nra-
I Iucing capacity in the country: tbe r,,b-
NJ works have mostly stopped and ~
MN n,ra LANDING the lightweight openine a
INNER OF Woollen mills EvidenfIv hba
reduced N oiSO wages nave been
IN me me IRON markets grow less demoralizad
Cd me ~ because all the associations decid-
~ - MAINTAIN prices for this month bnt
ora ,l1lkets are lot stronger in volume of
tic b|,S or purchases. The volume of dones-
BUSINESS reflected by EXCHANGES was
~ fl, per cent smaller than last wear for tbe
s13o week Of August, and 99 uers cent
smaller than in 1892 70 PSh Sehl'
Co.., coilapse at Chicago caused 10th
BE- ,.i cal and speculative loans here 70
si6a li5uGh restricted. Failures in July, cIas1
or Ita, ~ branches of business show Iaro-
tba -1DiLlUes IN the lumber than in anv Of
roortb- d curing classes and for several
iar c-aSns double the liabilities in the net
liabilities lead. A0 III soOus
the lures FOR the week have been .240 in
ana % meg az States, against 225 last wear,
o. III canada, against 43 last year,
A POLITICAL ROW.