The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-02-08
BOND SALE MAY START A BOOM
THE BIG SUBSCRIPTIONS APT To
INFLUENCE ALL BUSINESS.

The Tremendous Strength of the Ma
tiOnaI Credit Demonstrated as IL
Has Not Been Before in Years
Signs of Improvement i'm the Iron
Manufacturing Business-NO Gain
Yet in Boot and shoe Manufacture.
New York, Feb 7.-Dun's review will
say tomorrow: The failures for the
week have been 323 in the United States.
against 81 last year and 6 in Canada,
against IS last year.
The wonderful success of the popular
loan alters the face of events. January
operations become ancient history. as the
nation mounts above all doubts and fears
to a solid certainty that the people can
and will uphold their government with
sos 100000 bid by 1850 banks or persons.
The tremendous strength OF the ma
tiOnal credit is demonstrated as il has
not been before for many years. The in
huence of this event upon all manufac-
turing and all trade cannot be lightly cstl-
mated. 1t strips the silver agitation of
! all its power to hurt. II puts the treasury
upon safe basis for the time, whether
congress does anything or not. 1t notifies
foreign nations that the United States
have power as well as purpose. 1t unlocks
millions of gold which have been gathered
in preparation, brings directly several
millions of gold from Europe and stimu-
lates the anxiety of foreign investors to
obtain American securities.
with such a revolution in business
suddenly effected, the customary records
OF the past week and month are of less
value IMAM usual. But there nave been
signs of Improvement in the iron manu-
facture, although the average of prices
Is nearly one per cent lower this week,
and orders for wire nails are stimulated
by a decision to advance the price again
on March ]. There is also a more active
demand for plates and sheets. Southern
competition lowers coke iron at Chicago
and prevents an advance at the east,
while sales of last years Spectators in
the Pittsburg region still depress Besse-
mer. The ore pool is expected to fix the
price for the year at 81, or possibly 81. 50,
and the coke pool still reduces the output
The boot and shoe manufacture does
not gain as yet leather being about l
per cent. lower for the week. The cotton
mills continue generally active, though
talk of decreasing the. production still
continues; print cloths do not rise above
234 cents and some goods tend lower"
Bradstreet's tomorrow will say: Gen
eral trade waited the results of subscrip-
tons to the bond issue and the sentimental
effects of the unusually favorable outcome
have been easier money and Improvement
Additional favorable influences are found
in heavier bank clearings. continued firm
and steel, the Announcement from st. Paul
Milwaukee, Omaha, and Des Moines of
a revival of business with jobbers in
staple lines. At the east Baltimore and
Pittsburg report favorable trade condi-
tons. AT the south, gains i'm wholesale
lines are announced from Nashville Mem
phis, Atlanta and Birmingham. The re-
verse includes the depressing influence of
stormy and wet weather Indifference of
consumers Of domestic wooden dress goods,
renewed sales of print cloths and other
makes of cotton goods only after a reac-
ton in prices, continuance Of extreme con-
servatism in almost all lines and the fact
that the relief to the treasury by the
oyersubscriptton to the bond issue in the
absence of sound currency legislation by
congress, will probably prove only a tenn
porary device to maintain the gold re-
| serve. General trade at Chicago, St
Louis, Buffalo and Philadelphia shows no
| real gains from the preceding week when
the situation was quiet even to dullness,
and the outlook unsatisfactory The total
| number of business failures throughout
| the United States this week. as reported
TO Bradstreet's, is considerably smaller
this week, 1888, as contrasted with 1893 last
week, 293 In the week one year ago, 1886, or
almost exactly the same number, in the
and with PA in 1892"