The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-12-18
HOLIDAY LULL IS AT HAND.
WHOLESALERS NOW ABOUT READY
TO TAKE STOCK.

Price of Cotton Slightly Lower as n
Result OF the Desire of Planters to
Convert 1t Into Cash for Christ
mas PurpOscs-Wheat Market Less
Feverish and Prices Practically
Unchanged From "A Week Ago.
Outlook for Cotton Goods Unsatis-
factory.
New York. Dec 17.-Bradstreets to-
morrow will say: "A sensible quieting of
demand in wholesale lines is reported as
the holiday season, and the stock tax ng
period approaches. Chief among the fav-
orable features of the week has been an
enlarged inquiry at higher prices for steel
in various FORMS accompanied by adj
vances in the prices of the sorts most af-
fected. A correspondingly heavy business
has developed in pig iron and prices show
but a slight shading in the face of current
immense production.
THE wheat market has been less fever
ish and prices are practically unchanged
from week ago, while corn, oats aud
sugar are additions TO the list of products
showing advances.
THE unsatisfactory outlook for cotton
goods is reflected in reductions in bleached
goods to the lowest point ever reached,
While some cotton yarns show weakness.
With these exceptions the price situation
is one of quite exceptional steadiness.
"The approach of the holiday season has
induced frcer realizing on cotton by plant
crs and others at the south, and activity
is noticeable in retail lines and among
jobbers in seasonable goods. Collections
are slightly better in consequence, al
though the low price of the staple is dis
couraging feature. Aside from price de-
preston in its chief products, the south
ern business situation presents many en-
cOuraging features notable among these
being the active demand and firmer higher
prices for Louisiana sugar and rice and
leaf tobacco.
Wheat exports show heavy falling off
from recent preceding weeks, aggregat-
ing, as they do (AOur Included as WheaO
4,60i,399 bushels from both coasts of the
United States and St. John, n. B., against
4. 266 159 bushels last week, and IA
bushels in this week year ago. Corn eX-
ports are over 100000 larger than last
week. aggregating 4,129,SS9 against 2,S14,150
bushels in this week a year ago"
r. G. Dun &. Co.'S weekly review of trade
will say: CLOSE to its annual holiday halt,
the business of the year is surprisingly
large. Payments through banks are 25 per
cent. larger than In 1892, heretofore the
year of greatest prosperity; the production
of iron and woolens and boots and shoes
is larger than ever before, exports eclipse
all past records and failures for two
weeks have been the smallest for the cor
responding weeks in five years.
The most weighty news is the rise of
exports in November to $l16,-
$50 300, the excess Of exports In four months
being 1929. PIP, 4O1, while in half of Decem-
Der, exports are nearly as large and i'm
ports $2.593OO0 smaller than last year. when
the excess of exports was SIS, 205, 366.
The output of pig iron Dec. l was the
greatest ever known, 226,024 tons, against
213, 159 Nov /, 1896, and 217,3O6 in November,
1895, the highest point heretofore. I'm
sold stocks also decreased in November
1862 tons, indicating consumption of
about 100000 tons weekly during the
month. Bessemer declined in the face of
such production 10 cents and grey forge
% cents at Pittsburg.
Wheat is just now the backbone of
foreign relations, and Atlantic exports in
two weeks have been, flour included 1885,
9iS bushels, against 5,413,677 last year,
while receipts rose to 12,O60122 bushels,
against 6,625SS2 last year. The price gain
ed a fraction in spite of the speculative
decline in Chicago.
Cotton manufacture is Indifferent, due to
production last year far in excess of de-
mand, and to partial transfer of the de-
mand to southern mills. While domestic
and export sales have been large, they are
behind a production exceeding that of the
best previous years, northern and southern
included, and the effort to straighten
things by a reduction of wages, presum-
ably involves a strike and reduction of
output. Goods are generally weak, and
the range of prices is now the lowest ever
known, the reduction in bleached good
prints, and wide sheetings having caused
considerable increased demand. The de-
mand for wooden goods is increasing and
some mills are in the market providing for
a greater production. The wool market
is genrally dull, sales at the three chief
points being $50, 3S7, 100 pounds, against 49,
600, 100 last year"
Failures for the week have been 329
in the United States, against 3S7 last
year, and rs IN Canada, against Al last
year"