The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-07-04
GENERAL TRADE srm-DULL.
The Season Partly Responsible For
the Fact.


New York, July 3.-Bradstreers to-
morrow will say: General trade iu both
commercial and industrial branches is
duller but the falling of is. Ia part. due
TO the usual midsummer dullncss.
Comparatively few changes are noted.
but most Of them are decreases in either
price or demand. Quotations for wheat,
Indian coTn. cotton. oats. iron and steel
are lower. Sugar has reacted after the
decline last week. leather remains con-
spIcuously firm, with shoe factories busl-
ly employed; and petroleum and anthra-
cite coal are higher. The sentiment of
the trade many points is that the Inn
mediate outlook for business is not fav-
orable.
"St. Louis jobbers report some Texas
merchants countermandlng orders. owing
to the effects OF the drought There is a
fair demand for grain. groceries and sta
pie dry goods at Minneapolis and Duluth.
and in fabrics and groceries at st. Paul
and Omaha while Louisville reports a
better demand for hardware, with collec-
tions improved. Similar advices come
from Baltimore, Savannah and Charles
ton. These constitute the most favorable
reports concerning the state Of trade.
AT Chicago, the volume of business for
six months Is smaller than last year. At
New York, Philadelphia, Buffalo and
Pittsburg there are no characteristics,
except those OF extreme dullness.
THE general industrial situation shows
no renewal Of activity. The apparent i'm
ufacturers refuse 10 buy raw material be-
cause il is cheap.
Excessive dullness marks dry goods.
although this is the usual period for
stock taking
Cotton mill treasurers controlling 1000 o.
900 spindles have agreed 20 curtail produc-
ton. large amount OF wooden machin-
cry remains Idle, and the iron and steel
Industries are as fiat as heretofore.
The business failures in the United
States for six months. as reported to
Bradstreets, number 1902, the largest six
months total since records have been
compiled. The increase compared with
1898 and 1894 is more than 1000 in each
instance"
New York, July 8.-R. G. Dun & Co
will say tomorrow in their weekly review
Of trade: Complete failure reports for
the second quarter Of 1895, April June
SO inclusive-cover 1886 In the United
States, against 1855 in the same quarter
of last year. The failures for the week
have been PSI In the United States, against
1875 last year, and p in Canada, against a
| last year. Current movements have
| been so largely of a temporary charac-
ter, or else purely speculative on the day
by-day plan, that they are now highly
/ instructive.
"Thus an extensive shut down of cotton
mills Is solely in the hope that half-pro-
| ductiOn in July and August may clear
| largely oVer-stocked market. Extend
! ed reports of the half-years operations
| In leading branches of manufacture 10
| far to explain numerous stoppages. In
/ woolens they are without concert, mills
! waiting for orders the sales of wool haV-
ing been not a third of last years for the
| same week. Prices are depressed. but
| still depend on foreign possibilities.
| In cotton goods the closing of many
| mills, both north and south, for half OF
| July and August, Is In effect a recognition
| Of the fact that heavy stocks of goods.
manufactured from cotton costing be-
| tween w and S5a cents could not be ex-
| pected to show profits IL the mills go on
| manufacturing until a new and probably
heavy crop of cotton Is ready. The reduc-
| ton of prices has brought out a large de-
| mand in many cases, but not enough to
meet the output of the mills. further de-
cline in print cloths TO 215 cents Is signif-
| can't when such a decrease in production
/ is assured.
Having begun by reducing prices to the
lowest ever known, boot and shoe produ-
| GERS are doing a shade better In prices,
| with leather little cheaper on the whole.
| though hides have mounted to about the
| level of Jan. /.
THE output of iron has largely decreas-
| ed, and there is a quite general stoppage
| of works for repairs, but the annual con-
| trOVersies about wages have IN most cases
| been settled and il is said will be settled
J in all cases without striking. The problem
| whether prices for coke, ore and billets
established by the combinations formed
| this year, can he maintained against de-
creasing demand for finished products.
binat!ons in nails and rails and some 9TH
er finished products.