The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-29
VOLUME OF BUSINESS LARGE.
PRICES so Low, HOWEVER, THAT
PROFITS ARE SMALL.

Corn Continue Very Heavy-The
wooden Mills Producing More
Than They Have Done for Years.
New York, May 28.-R G. Dun & Co.'S
vreekly review of trade tomorrow will say
"People are actually doing more business
than they realize. They reckon by values
bJt these are much lower than in any pre-
,ious year of prosperity, and leave little
argin for profits. In quantity there is
snost as much business being done as
curing the years of greatest prosperity
and though the increase in population
uld call for a material expansion, the
nparison is not discouraging. The re-
cry is slow, hesitating and gradual, but
re has been done on the whole in May
n in April, while the returns of April
wed the volume of business only 10 per
smaller than that of the best year
,tfore. Yet hesitation is doing its
k every week, and multitudes are wait
because of possibilities at Washing
who ought to be filling the demand for
n and the products of labor.
events have proved that the crop of
wheat going out is much larger than any
.aipts for the week 80 per cent larger than
last year, while Atlantic exports have been
Tor four weeks 6,315,229 bushels, flour in
crdel, against 49SS,77 last year. AT this
son actual receipts count rather than
trelic ions, and the truth is that the
country has exported an extraordinary
quantity of wheat and -four and yet has
20 much to spare that the May option has
declined nearly a cent for the week.
Besides the out-go of corn, largely TAX
..e che place of wheat in foreign consump-
riau is far beyond precedent or eXpecta-
.i0n 4nd for four weeks has been $780,,
.4' against 6,OO1 1856 last year. With lib
.al Interior supplies, the price has de-
.Iu.l fraction.
root on is unchanged, although at this
season exports are insignificant. Manu-
taaurers have especial causes of delay
tpng to the possible competition with
Iorsi-a goods largely imported but there
f.> been no setback in prices, although
- OH goods are dull, without large de-
rd and print cloths are at the bottom
4.ee It is evident that production far
i.toud the consuming demand has forced
r.r industry into a waiting attitude.
distribution of all dry goods is at pres
retarded also by cooler weather than
usual at this season.
The wooden mills are producing more
iuyn less than they could or would like
u produce, and manufacturers are doing
most nothing in the wool market,
rlough speculation has kept the sales
rge in four weeks of May 28,SO5, 500
taruds against % 159 $50 in the CORE
bonding weeks of 1892. There is some
a.skness observable with western holG-
e1s and eastern prices begin to feel the
Weight of enormous imports, although
fo,iers sull calculate on rise, as soon
as the duties take effect.
The iron manufacture gains in spite
,I the closing of some furnaces. The pro-
ducuon OF pig exceeds consumption, and is
somewhat decreasing, while the consump-
ton has gradually gained this>-week in
Iart because of several structural con-
tracts, including 1000 tons for this city
and in part, because the agricultural i'm
elements works have made larger de-
11auds. and also because of the proposed
leasing of nearly all the rod mills in the
country, which has caused some buying.
Pig iron shows no change in price, but
Is noteworthy that an advance of %
0ts in the British price of American pig
il, considered a relief as lessening the ur-
cy to sell southern pig in northern
markets. Cotton ties at so cents per bum
have quite shut out foreign competi-
ton.
Tin and copper are stronger, but the
tin plate makers have agreed upon an ad-
=
before at $3.50 against $3.50 for the foreign.
Failures for the week have been 214 in
the United States, the smallest in any
week since September 1885, against 234
asst year, and 2 against 20 in Canada"
New York May S.-Bradstreet's to-mor-
row will say: The results of the spring
fade in staples, which are now over, are
isappointing. The volume of seasonabie
Merchandise distributed is less than eX-
bcted, without taking into account an
Improvement in business compared with
year ago. Nearly all central and west
I'm and southern trade centers report
business very quiet.
Dry goods continue depressed, and cot
ton products selling with difficulty, some
varieties only on concessions. The an
nouncement Of reduced or passed cotton
mill dividends and that several large es-
adjustments will shut down to enable
consumption TO overtake production, when
coupled with the comparative indifference
OF consumers TO the lowest prices on re-
cord for iron and Steel would appear to
sufficiently characterize the actual condi-
uon OF general trade.
The more favorable features are rela-
i've activity among wooden goods manu-
lecturers, who are working on old orders
improved demand for shoes and leather
q continuance of the comparative activity
on the general demand at Savannah, Mem
$3.50 - iAphiat OAidAdt CiOuA Il dis, MIN
neapolis and St. Paul. the better demand
Tor lumber at the west and in the trade
outlook in Louisiana, Mississippi and Ar
kansas. Increased exports are reported
rom Pacific coast ports, but there is COM
paratively little gain In domestic trade
mere, except in cattle, wool and hardware
az Portland.
Among twenty of the more important
s'apie products. only two-hides and wheat
nave advanced, while one-half the num-
,'r-cotton, lumber. coal Bessemer pig
loh' steel bilets, steel rails print cloths,
sugar, pork and coffee-are unchanged, al
laough there is a nominal advance in the
Price Tor Bessemer pig and steel billets.
40" mat wool manufacturers have stock
~ up wool Is of, as are cotton goods when
E'll IN quantity; rosin Is lower and among
cereals, flour, Indian corn and oats, 20
"1ich may be added lard and petroleum.
Exports of wheat (hour included as
"H,aD from both coasts of the United
H.ies and from Montreal this week
"lount to 2.sOi,326 bushels. compared with
l'''V" bushels last week 2.064G0O bushels
ihe week year ago. 2,i26.O00 bushels
Hrt4lH flf