The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-09-12
FAR FROM BRIGHT.
cur SITUATION IMPROVING Slow
LY BUT SURELY.

4 priceS Expected With the Replen-
lament of Dealers stocks This
roII-GoId stiII Flowing This Way
r.ou, AbrOad-Large Crops OF
,,-bsat and Corn Looked For.
Now York. Sept l.-R. G. Dun & Co,
.,,.ir weekly review of trade tomorrow,
n IN cav. Better prospects and relief
,.or, monetary anxiety do not yet bring
- demand for finished products.
.,ongb large buying of pig iron, wool,
,...bar hides, cotton and other materials
time TO show a growing belief that a
-...ra{. inward movement in prices will
,e with the replenishment of dealers
stocks this fall Most prices are extreme
q i, low. so that nothing more than an ord
,rv demand would advance them. But
,o,,, failures at New Orleans cause tenn
,,orary hesitation, crop returns Indicate
B s,sannointment in some cotton and some
enring wheat states, prices of corn and
3 .ats make it Improbable to sell at pres
49, the number of manufacturing works
q - mines in operation does not gain, but
a. decreases, reductions of wages are
.aan,eugbat numerous, occasionally resist
~ bv strikes, and all these conditions dl-
finish for time the buying power OF
the people, ,.
q ct come until the election has re-
oa1,d nolitical uncertainties, others ex-
loot soon to see the result anticipated IN
trade. 49,, aoora.s-
a % 57S tons in August to 10000 tons,
s against 217SOO in November, a shrlnkage
Of 40 per cent. Other works sun nave
etonned since September began. Unsold
y storiys increased g., O67 tons in August, ex-
4 elusive of those accumulating in the hands
8 of the great steel companies.
81 "Tbe sales of wool for the week have
boon about edualled by the normal con-
sumption for the first time in several
months. not because manufacturers nave
more orders or are doing more work. LOT
M gain is seen in the demand or output.
The buving is mainly speculative, based
on the belief that prices must advance.
mo considerable decrease appears IN
the enormous stock of print cloth al
though the output has been reduced about
one-half for two months and a ntth OF
the years production remains IN the
hands of makers, but they nave advanced
the price three-siXteenthS during the week.
For other goods there is better demand
and manufacturers have advanced prices
because of the rising cost of material,
the average for all cottons having risen
So per cent. since Aug. G. but stocks OF
many kinds are large.
THE Financial Chronicles annual re-
port issued to-day, makes the last crop OF
cotton 7162473 bales, the consumption
north and south, 1855, $40, and the exports
47129l2 during the year. No account OF
southern mill stocks is attempted and no
estimate is yet given of the crop now
coming forward. Accounts of disappoint-
ing returns in spring wheat states are
numerous but it is difficult to reconcile
short estimates with heavy marketing at
low prices. Corn is almost wholly out OF
danger and the yield is generally expected
TO be the largest, as the price is the low
est ever known.
"The tide of gold imports still runs
strongly this way further engagements
lifting the aggregate of $2S,62OOOO, of
which $23, 172, $50 have arrived. The pros
peet led the Bank of England to raise its
discount rates from to 212 per cent, and
some selling on foreign account followed
in stocks. The New Orleans bank fail
ures were followed by unusual offerings
of cotton bills and the interior demand
for money also increased, the net outgo
being 49, 900.
THE liabilities in commercial failures
for the first week of September were
$4,095,59O against $2157, 751 last year, $14,
THE failures for the week were S15
in the United States against 2J7 last year,
and AZ in Canada, against 81 last year"
New York, Sept. u.-Bradstreet's to-
morrow will say: 1.-THE feeling among job
bers and manufacturers last week that
an improvement in demand for seasonal
bic staples was in sight was evidently
well founded, for at more than a dozen
centers south and west the demand is now
more active, the volume of sales has in
creased and the general outlook is much
more favorable for business later in the
autumn. Notwithstanding the Labor day
interruption the weeks volume of bust
nefs is slightly heavier several cities re-
porting a larger demand this week to re-
plenish depleted stocks than during the
two preceding months. The most marked
Improvement is at Chicago, st. Louis, St.
Paul, Minneapolis, Pittsburg, Charleston
and Augusta, although other cities have
reported better feeling and prospects for
more active demand. No such gain has
taken place in financial as in CONNER
cial circles.
While there. is an increased demand
for mercantile discounts the supply of
money is larger, though the rates for
money remain unchanged west and south,
with no change or higher quotations at
eastern cities The New Orleans bank
failures have resulted in restricted loans
and the volume of trade at a time when
the early movement of cotton and sugar
prospects had stimulated trade.
In Texas farmers are holding cotton
LOT an advance in price, and leading Geor-
ga jobbers find mercantile collections
much improved
providence reports better tone among
Jewelry and cotton goods manufacturers,
and that nearly all the latter are run
hln9 on full time again. yE
Inc shrinkage of production of pig iron
IN the United States from a rate equal
TO 100000 tons per annum to less than
tWo-thirds the quantity is proving an ef-
IectiVe remedy for stagnation in the iron
ana steel industries, and already demand
mas begun to reassert itself. There is a
more encouraging look to the prices move
ment also. Wheat is up again on con-
uhued active export movement, and a
very general tendency on the part of crop
reporters to make out nominal short
age IN the worlds production this year.
snort crop Views as to oats and COT
ION nave like effects. the latter finally
having some influence in raising print
v.oths quotations since the surplus stocks
o. cotton goods have begun to have less
weight