The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-09-05
TRADE IMPROVES A LITTLE.
TUE, IMPORTATION OF GOLD GIVES
CONFIDENCE TO FINANCE.


Of Manufactured Goods are
Strengthened-specul Pur-
cboses of Iron, WoOl,Etc Give In
d,cotiOns of Returning Confidence.
r~,orts Increase and Imports De-
crease.
Now York, Sept 4-Bradstreet's to-
.,orrow will say: There is a somewhat
hat,ar feeling among wholesale merchants
70 the prospects for autumn trade in
ssaeonable goods, This extends to some
,ndustrial lines, notably iron and steel.
nh demand for shoes from western job
re is more active than at the east, and
+,e dry goods trade regards the result of
the auction sale of spring goods at New
1-ork as fairly satisfactory. Notwith-
lending a continuation of high rates for
Money with restricted discounts and few
or time loans, there is better feeling IN
financial circles. The most noticeable in
orsase of sales of seasonabie goods has
heen at Chicago, mostly among dry goods
and hardware jobbers. St. Louis also re-
norts moderate gain in demand, as does
81 Paul. where a state fair has attracted
visitors Baltimores wholesale trade is
checked by restricted bank credits, but Is
still larger than one year ago. At the
south relatively the most active demand
is at Charleston, Augusta, Birmingham,
Nashville and New Orleanst
The most encouraging feature as to the
movement of prices lies in advances in
quotations in wheat, higher prices for
iron and steel at Pittsburg and Chicago,
and further appreciation in quotations
for cotton. on renewed reports of damage
TO the crop, Petroleum and leather are
also higher
Lower quotations are reported for corn,
oats, lard, sugar and coffee.
Further damage to the Texas cotton
crop is reported and the outlook for bus
mess in that state is less attractive. At
Detroit, Cleveland, Cincinnati, Kansas
City, Omaha, Milwaukee, Duluth and Min
neapolis there is no change from the
duness and conservatism which have
marked preceding weeks. Trade on the
Pacific coast, except in certain export
lines, is of small volume.
There were 1886 failures throughout the
United States reported to Bradstreets
this week. 16 more than last week
The total one year ago was 1874.
the total being 1927, 100000 this week for
cities throughout the United States, an in
crease of 10 per cent. over last week, but
decrease of 10 per cent from the like
week one year ago.
New York, Sept. Ar. G. Dun & Co.
will say tomorrow in their weekly review
of trade: Failures have been for the
week 1874 in the United States against 1856
last year, and 81 in Canada against 3S
last year.
dence. due largely to the continuing and
heavy imports of gold, which have put an
end to monetary anxiety, and also to po-
litical events, which are closely watched.
While it does not yet start more mills and
factories than are closing for want of
work, it crops out in heavy speculative
purchases of pig iron, wool, and some
other materials, by experienced men who
believe that a revival of business is not
far off, and for the first time in nearly
two months slight upward turn appears
In prices of manufactured products.
The same spirit appears in speculation.
Stocks rose an average Of sos for rail-
ways, and So Oh for trusts, with consdera-
bic covering of shorts.
Wheat had suddenly risen a week ago.
but reacted with better crop news until
. Thursday, when another advance came of
NiiN SCiit hAeehlllS the net uSCine LOT the
week 1Ssc. Western receipts continued
large, 5,215,706 bushels for the week.
against 1850, lN last year, making the in
crease since July 1, about two million or
% per cent. Atlantic exports are also
large Hour included 2,0S2,ss3 bushels,
against 1,341 352 last year, a gain of SO per
cent. Gloomy stories find little support
in such returns.
Corn has reached at Chicago the lowest
points ever touched, 20 cents in 1861, and
has again broken all records here, declin-
ing to 259sc, at which 1t closed
Cotton fell to 7.S7c, but with revival of
confidence rose to S.50c, although the pros
pect is clearly more favorable than some
weeks ago. Estimates are still very wide
apart. The New Orleans exchange put the
ldst crop at 7,l57346 bales, whereas official
ana an ~, uhofhcial predictions year ago were
$4,000 to 100000 bales smaller.
After many weeks of decline so that the
average Of prices for iron and its products
was the lowest since early last year, prices
nave started up a shade. Heavy specuIa-
1--WE purchases of Bessemer at the west
ana OF southern iron here, the latter main
~ oy New Workers at s6.40 for No. 2, and
so% Tor grey forge, have so strengthened
the market that Bessemer at Pittsburg
commands $ll.25. and grey forge $3.50. The
various associations have not reduced
prices believing 1t would not stimulate the
uennand at the present, which is extremely
10, -, = v" Gnu as yet SHOWS no improvement.
Inc starting Of some wooden mills which
nave been idle and accommodating gorders
LOT short run, is still balanced BY the
stopping OF others, and the volume of Or
uers does not increase. No gain as yet
appears in demand or prices, but marx
ca speculative buying of wool shows be-
tla that prices will improve and sales
Ior the week were 4377,600 pounds, of
winch only 5557O0 pounds were foreign,
much over half the domestic sales being
vi Iexas and far western states, at prices
ldhglng from to S1z cents. Cotton goods
are growing stronger more grades having
aaVanced, and though sales are modcr-
ate, there are more buyers. indicating ex-
nsustion of dealers stocks
me volume of trade indicated by clear
hss was for the week 1917 per cent. less
s sudn last year. Exports OF merchandise
Ior the week was 40 per cent, and for the
past month 1853 per cent. larger than last
gear while imports were for the week 10
per cent smaller, and for the month IS
per cent. smaller than last year
HE PRAYED TO DEAF EARS.
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