The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-01
BUSINESS NOT YET ON A BOOM.
PRICES AND TRANSACTIONS BOTH
SHo WA FALLING OFF.


and Prices Low.
New York, April SO.-Bradstreet's to-
morrow will say: The more conspicuous
features of trade are less satisfactory, in
Guiding moderate reactions in prices of
staples, a falling off in the volume of
! transactions in various lines, continued
slow collections, and less favorable con-
ditions in the iron, steel. cotton and some
other industries. There is less demand for
staple varieties of iron and steel. makers
reporting trouble in securing specihca-
tions for contracts on hand. Southern pig
iron has secured lower railroad rates to
points west of Pittsburg and Buffalo, all
OF which saving has been given the pur-
chaser. The outlook is for the shutting
down of some furnaces in the Pittsburg
district
SALES of wool have declined sharply,
but receipts of foreign have brought up
| the weeks movement to a fair total Near
~ years supply has been imported dur
ing the first four months of this year.
The movement of cotton goods is slow
and prices are low, buyers purchasing in
large lots only where inducements are Of
| fered.
"Woolen manufacturers are fairly sup
piled with orders, and are inclined to ask
an advance on new business.
The three months restriction of output
in cotton goods has ended, and mills will
| now run on full time.
| The price movement furnished little
| basis for speculative encoura cement, the
| only advance on recognized general COM
| modities being those of pork and cotton.
Higher prices for woolens is an effort to
| anticipate the tariff.
Exports of wheat G1our included as
! wheat from both coasts of the United
| States amount to only 1,158, SS6 bushels this
week, against 1,6540OO bushels last week,
| $50 900 bushels in the week a year ago,
| 1855 900 two years ago. 2,773,000 bushels
| three years ago. and as compared with
| 2,77600O bushels in the like week in 1898.
| The current weeks export Of wheat tiour
| included) are the smallest since the sec
ond week in May, 1891.
Exports of Indian corn have also fallen
| off this week, amounting to 1861, 100 BUSH
| els, against 4,769000 bushels last week,
2,442 600 bushels in the week year ago,
| los 900 bushels two years ago, $4,000
bushels three years ago, and as compared
with 100000 bushels in the like week of
| 1898.
There is a moderate increase in the
| commercial death rate, there being IA
business failures throughout the United
| States this week, compared with ZIG last
week, 254 in the week one year ago, 2O6
| two years ago and 179 three years ago,
| and as contrasted with PAS, in the last
week of April, 1893.
! There are thirty-one business failures
reported from the Canadian dominion this
| week, against q last week. 26 in the week
a year ago, Sc two years ago and as COM
| pared with 80 in the corresponding week
| of 1894"
New York, April 3O.-R. G. Dun & Co,
| in their weekly review of trade to-mor-
| row, will say: 'In spite of moderate inn
provement in most of the great industries,
| business is disappointing. Expectations of
| the speedy end of the war in Europe,
| through Turkish victory. have helped TO
/ depress grain. Demands of Austria and
Japan have caused exports of $500, 600
| gold merchandise imports are greatly in
creased, and final action of congress on
the revenue question seems more remote.
| ''Wheat rose last Saturday nearly
| cents, but has fallen since that day about
cents. This is largely because the Eu-
ropean markets did not sustain the ex-
| pectation of a great foreign demand after
the outbreak of war. and because events
appeared to foreshadow speedy peace, but
| the tidings from the wheat growing states
| the receipts from FARMS and the enormous
exports of corn. all had Influence. Corn
| exports have been 13, $50. 1877 bushels In four
weeks, against 4496,679 last year, while
| Atlantic exports of wheat in the same
weeks, -four included, have been only
| 4231, 348 bushels, against 4597, 215 last year.
| Nor is this surprising, for If in use two
| bushels of corn only equal one bushel Of
/ wheat, two bushels of corn would cost
| about 50 cents, and the one bushel OF
/ wheat nearly so cents. Western receipts
have been reduced, perhaps in part by
| floods and interruption of traffic.
"rhe cotton market has advanced Il of
| a cent. owing mainly to a speculative i'm
pulse from England.
THE exports of gold would not have
much influence If there was not an ex-
traordinary increase in merchandise i'm
| ports and some decrease In exports from
| New York, large for the last week. and
per cent. for April Imports have
| increased about 60 per cent over last year
| for the week, and for four weeks have
| been 30 per cent. greater. At Boston i'm
ports Of wool have been extraordinary
and at Philadelphia they have amounted
| for the month to 81, 208.O 900. The thought
that this abnormal increase may CON
! tinue as long as action on the revenue
bill is deferred tends to affect exchange,
but the main influence al present Is the
exceptional demand for reconstruction OF
the Austrian monetary system and for
Japan.
'Of the great industries. the iron and
steel manufacturers Is slow In advancing
now. as II was much the quicker in the
winter Partly because the increase in
production In pig was then too rapid, part
~ because enormous contracts were taken
when the different pools broke down, and
perhaps even more because Of the posi-.
bllity OF new developments there IL great
hesitation now in placing orders. Reports
Of pending negotiations between the Ili-
nois Steel and Minnesota Iron Company
point 20 an important change as possible.
Prices Of Mesaba ore have not yet been
has been sold az S245 TO- $3.50, and pig Is
weaker; Bessemer at $3.50. with one sale
of 1000 tons for 1925 at Pittsburg, and
grey forge at $3.50. Nails are about s
cents per key lower and tin plates cents
per box, and eastern quotations are FREE
auently shaded 10 receive business
"A heavy sale OF lake copper Is reported
a. ...an