The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-02-20
GENERAL TRADE IS GROWING.
ADVANCE IN PRICES REPORTED IN
SEVERAL BRANCHES.

Prominent Feature in the Stun
tion-NearIy 1000, 900 Tons SoId
Since the Recent Break in Price.
Better Demand For Dry Goods.
Clothing, Shoes, Paint, Lumber
and Architectural IrOn-The Ten
dency of Gross Railway Earnings
Upward.
New York, Feb. 19.-Bradstreet will
say tomorrow: General trade shows
more Improvement, features of which are
the advances for Bessemer pig iron, steel
billets, steel rails. some grades of wool,
raw sugar, Indian corn, pork and lard and
for print cloths, with an upward ten
dency for leather, together with number
of metal and textile Industrial establish
ments which have reopened within the
week, and an Improvement in recent rail-
way earnings.
THE demand for rails since the break
in quotations has resulted in sales of
nearly 100000 tons. of which 100000 tons
are for export. Not the least significant
outcome is the demonstration of the abil-
ity of American steel makers to success
fully compete in the markets of the
world
There is better demand for dry goods,
clothing, shoes, paint, lumber and archi-
tectural iron, but material increases in
request for general merchandise are more
conspicuous at Chicago st. Louis and
New York than elsewhere.
The holiday on Feb. T., while not gem
eral, had an influence on transactions at
New York, Chicago, Boston and Phila-
delphia, and bank clearings for six pusi-
ness days ending with Feb Is amount to
only SS92,0l4,OO0 decrease of sc per cent,
CnmnATp6 Gf ma N
per cent, compared with the third week
of February, 1896.
The tendency of current gross railway
earnings is TO increase, and a majority of
reports of railroad earnings for the sec
ond week of February show increases
Gross and net earnings for the year 1896
are IN sharp contrast with those for 1895
While promising well. the depressed trade
and political excitement had an unfavor-
able influence. But it is encouraging to
note that decreases from CORRESPONDING
totals in 1895, are small, both gross and
net Total gross earnings of 142 railroad
companies, which include so per cent of
cur cur 9 rsl5road earning capacity aggregated
$So6, S34, "A last year, decrease of one
NTH of per cent from the total in 1896
while the total net earnings-$2SS 929 COZ
showed a similar falling off of IL per cent
The southwestern, Southern and Pacific
groups, report increases, both gross and
net, as compared with 1895
The total business failures throughout
the country have increased numbering
so TINS week, compared with SM last week
and 216 in the third week of February.
1885," >
New York, Feb. 19.-R. G. Dun &. Co.
will say tomorrow in their weekly review
oil trade; "A large increase in the iron and
steel business, on account of sales cover
ing eight to twelve months production
of the largest works, a better demand for
wooden goods, and slightly better demand
for cottons, a gain which may prove last
ing in boots and shoes, slightly better
prices for wheat, cotton, wool and iron.
and money market well adapted to en-
courage liberal purchases against future
improvement in business. have rendered
the past week more hopeful than any other
since early In November. The heavy ex-
cess of merchandise exports over imports
in January, the continuance Of exchange
rates, showing that Europe Is still large
ly indebted to this country on current ac-
count, and the prospect that congress will
adjourn without any disturbing action all
nave their favorable influence upon the
money market and upon further undertake
ings.
&" In nearly every branch the great iron
ana steel industry feels the upward inn
pulse supplied by purchases of steel rails.
sald 10 be half million tons each from
the Illinois Steel Company and from the
carnegie Company, besides from other
companies NE In part as low as SIS per ton.
about 100000 tons to foreign purchasers at
$lI to SIS, but all recent sales at 500 at
eastern and 81 at western mills. Nearly
al the great railroads of the country have
seized the opportunity to supply them
quirements.
These enormous orders have advanced
BesSemer pig at Pittsburg only 10 cents
per ton. with grey forge shade lower
there, and no considerable change appears
IN nnlshed products, although plates are
unehanged IN prices with good demand.
and nails are held at recent prices. The
par association no longer controls any
thing and iron bars are quoted at 81 O5 per
100 pounds, while steel bars are quoted at
80 cents per 100 pounds, Structural forms
are steady, although 100000 to 10000 tons
are said to be required in New York alone
this year, and American tin plates are
still selling at $3.50, which is 20 cents less
than the price for foreign.
The sales of wool have sharply declln-
ed, amounting to 7,409,30O pounds for the
week. against 9,l57900 for the previous
week, but owing to the heavy transactions
early ia the month. the sales for three
weeks have been 3O,I309OO pounds against
10, 16S, 700 pounds last year. The larger mills
have acquired full supplies for the present,
and at any advance of prices they appear
ready to drop out Of the market. The de-
mand for wooden goods does not seem to
have expanded materially, and no quotable
change in prices has appeared during the
week
ing the unprecedented excess of exports
over imports of merchandise In the four
previous months, are largely due to the
fact that neither the wheat nor the cotton
markets have been materially controlled
by speculation.
Figures at this season do not count for
much in cotton. though large supplies and
minishing domestic demand on account
of the partial closing of many mills have
materially influenced the market. Prices
have been comparatively steady; middling
uplands declining TO z cents, but recover
ing an eighth
"The volume of business Is not accurately
represented by Gearing house exchanges,
owing to the extra holiday this year at
some commercial centers But the daily
average appears to be "a per cent. smaller
than last year.
"The railroad earnings begin to show
Improvement, being 81 per cent. larger
than last year for the second week of Feb
ruary.
Failures for the past week have been
1903 I'm the United States against $50 last
year, and IS In Canada against Sc last year.