The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-04-04
BAD REPORTS ON BUSINESS.
A TOTAL OF 1872 FAILURES IN THE
FIRST QUARTER or 1896.

An Increase of Thirty Per Cent. In
the Liabilities as Compared with
the Failures of the First Quarter
of IS05-The Formation of the Pool
i'm steel Expected to stimulate
Trade In That Limestone riffs
Seen in the Clouds.
New York. April 3.-Bradstreets to-mor-
row will say: stormy weather at the
northwest, continued restriction of distri-
button of staple merchandise, and unsat-
isfactory mercantile collections continue
to be the leading characteristics OF the
general trade. The conspicuous change is
in the steel and. iron markets the forma-
ton of pool of manufacturers in order
to regulate products and maintain prices
resulting in an advance of SO per ton in
quotations for steel billets, and S215 per
ton for Bessemer pig iron. Correspond
ing stimulus is given quotations for other
forms of iron and steel Whereas the
leading metal markets were duh and de-
pressed a week ago, activity is now re-
ported, with a prospect for further adj
vances. This must naturally tend to slim
ulate kindred industries. The movement
in the steel and iron markets during the
next few weeks will attract an unusual
share Of attention.
Additional favorable features are re-
ports that at Baltimore the quarters gen
eral trade has been the best for years
that there has been slight increase In
the volume of business at Pittsburg; that
at Kansas City the distribution of general
merchandise is fair, and the demand for
dress woolens, autumn delivery, has been
sufficient to stimulate manufacturers to
buy raw material more freely
The first quarter of 1896 presents the
largest list OF actual commercial and in
duStrial failures in business in the United
States, those in which liabilities exceed
assets, ever reported for a like period.
The total Including financial institutions)
is 4512, or 700 more than in a like portion
of 1895. The largest preceding like total
1850 was reported in 1855. The liabilities
of those falling this year amount to $751; -
compared with a year ago.
I'm addition to the advances for iron
and steel and products thereof, wheat
Indian corn and graduated sugar are
higher, maintaining the tendency of q.
week ago. Wheat -four cotton wool
print cloths and rye are substantially
unchanged, but oats, barley, pork Iard
butter and cheese are all lower as is
coffee. The movement of. dry goods from
jobbers' hands has not improved. Wool
is duh and depressed, and some mems
wear mills in New England and in Penn
sylVania have closed.
1.-The March bank cearings are in con-
trast to those of February, when the to-
tai was 20 per cent larger than the corre-
spending total one year ago. The March
aggregate is "a, los, 100000, only per cen..
more than the total for February, an IN
crease over the March total a year ago
of only 20 per cent"
r. G. Dun & Co. will say tomorrow in
their weekly review of trade: 'sThe reeu-
lar quarterly statement of failures shows
4O31, with liabilities of ST. 425, 1876, against
1902 last year with liabilities of S47. S13. Csc
1.-THE Improvement expected with spring
weather begins, though in some branches
of business it is scarcely visible As con-
sumers make spring purchases they must
lessen stocks and compel buying The
stocks taken in advance of consumers
demands last summer have been distribute
ed far more slowly than was expected
but months of waiting have heIped 10
lessen the load. which it is hoped the
spring buying will clear away The back
ward season has been a hindrance and the
number of hands unemployed in important
industries, and the low prices Of farm
products.
'Apprehensions of foreign or financial
difficulties have hindered, but are now
scarcely felt.
Gold exports are rumored, but at this
season are so Ear natural that they have