The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-15
BUSINESS NOT MUCH BETTER.
HIGHER PRICES For SOME STA
PIES THE ONLY IMPROVEMENT.

L
chandise "a Per Cent. Larger Than
a Year AgO-COttOn Manufacture
shII in a Dull Rut.
New York. May AR. G. Dun & Co.'S
oeekly review of trade tomorrow will
eav: Spectators have enjoyed an ad-
vance in wheat, corn, cotton and some 9TH
or products. though obliged to sell wool
and sugar at lower figures in order to real
i2c Stocks have advanced cents per
800 and trust. stocks lost IS cents without
enough demand to constitute a market
Imports of merchandise, $1SSS2, O19 for
the week at New York alone are 81 per
cent. larger than a year ago, making the
increase AZ per cent. for the past six weeks,
and have affected the exchange markets
and held further shipments of gold, which
amount for the week to $2,750OOO, but are
practically balanced by receipts from the
interior, and cause no serious apprehension
of financial disturbance. Men feel that
present conditions are only temporary, al
though they tend to prevent immediate
improvement in general trade and hinder
immediate investments.
The government crop report estimates
the cotton acreage at per cent. less than
last year, and is considered encouraging
because so slight a decrease from the
foods that it may easily be made up.
Prices have advanced an eighth on Liver
pool speculation with nothing here to war
rant the rise.
The winter wheat report, which is sup
posed to indicate yield of $4,000, 900 bush
els is contrasted with state reports mucn
better or much worse, but is distrusted
mainly because all department estimates
of acreage for years have been widely
erroneous. Western receipts continue
larger than last year, 2109,123 bushels,
against 1,S70,36l a year ago, and Atlantic
exports also increased, amounting for two
weeks in May to 3,106, 800 bushels flour in
Guided, against 20S3,4 Ala last year
Exports of corn are still large $685. S55
bushels for two weeks against 1904 lS1
last year, and in part account for the
smaller demand for wheat.
The output of pig iron for the week
ending May was 170,52S TONS against 49,
279 April l. and the stocks unsold, exclu-
sive of those held by the great steel MAX
ing comp mics, increased only S,S0S, coo tons.
Several furnaces, especially those produc-
ing foundry iron, have stopped production
for this month, but no important changes
appear in pig iron, which is quoted al SIS. rs
for grey forge at Pittsburg, and 1925 for
II Bessemer and $12 for No. l at New York,
4 though only $1025 is asked for southern.
a Reduced southern freights here have al
tered the market materially, and at Chi
cago also the local prices have been re-
duced The demand for finished products
. is below the capacity of works in opera
ton, and the award of the contract for the
Montreal bridge, which is said to be at
SOC for beams against Sl55, demanded from
consumers in this country, has occasioned
trouble in the beam association, and there
are reportes that it has dissolved. Angles
are quoted at 50 cents per 100 pounds,
shade lower and steel plates are quoted
lower here than at Philadelphia.
Copper is active, with large sales of
lake at 1915 cents and tin plates are quoted
at 10 cents below the prices fixed by the
association, and Is cents below the prices
OF some of the grades of foreign plates.
Nothing new can be said of cotton man
ufacture, which still lacks demand enough
10 lift print cloths above the lowest point
ever known, and prices of other grades
Of cotton do not improve. In general the
sales of cotton products are but moderate.
''Woolen goods are doing better than
for weeks past, and yet there is not
enough demand to create enthusiasm or
10 raise prices, while there is great I'M
certainty regarding the future of the mar
ket. Sales of wool have sharply decreas-
ed and for the week barely exceeded a
weeks consumption, while prices are
weaker at eastern markets, according to
some reports, one cent per pound at Phil
adelphia, and at the west the heavy buy
ers for speculation have begun TO sell at
some concessions with good reason.
Failures for the week were 264 in the
4 United States, against 224 last year. and 81
in Canada, against 80 last year"
New York May 14-Bradstreet's to-mor-
row will say: THE unexpected failing
\ off in the request for staple goods within
month results in a period of comparative
n calm at a time when a general revival in
demand had been looked for. Wholesal-
Il ers report that the volume of business con-
sists of filling in orders, even Chicago not
claiming more than to have held its own
in volume of goods distributed. Interior
merchants continue to buy for nearby
wants only, and in many directions farm
ers are too busy with field work to sup
ply their wants at the country stores.
THE continued subsistence of the flood
in the .ower Mississippi river valley has
encouraged wholesale merchants in that
region; grocers report an unusually large
distribution of canned goods west and
southwest and the extreme depression in
pig iron prices is followed by large west
ern purchases.
Wholesale dealers announce an increase
in the demand for groceries and hardware
az Duluth St. Paul, Minneapolis, Kansas
City and Memphis.
Exports of wheat (hour included as
wheaD from both coasts Of the United
States and from Montreal this week
amount to 2,iS3,65 bushels as compared
with l,199OO0 bushels last week, / 100000
bushels this week a year ago, 2.397.01O
bushels In the week two years ago. 2.240,0oO
bushels three years ago, and as contrasted
with S,S55,OOO bushels in the like week Of
80.
Exports OF Indian corn amout 10 1905
$'4 bushels, compared with S,l27OOO
bushels last week, 1,663,O00 IN
the week a year ago, and l.2l0OO1
bushels In the week two years ago LII
600 bushels three years ago. and as con-
trasted with l,947O00 bushels In the cor
responding week OF 1898.
There were 25l business failures report
ed throughout the United States this
week. compared with 22S last week, 2e5
IN the corresponding week one year ago.
and 2l0 two years ago. 1856 three years
ago, and as compared with 225 In the like
period Of 1898. There are 81 failures re.
ported from the Canadian donufnfon Yhf.