The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-03-06
OTTER FEELING IN BUSINESS.
,r1oN TO IMPROVE CoNDI-
IT, TIoNs LOOKED FOR.

rank CIearings show decrease
R' Rain and Floods Interfere
-..,. trade in the Ohio valley and
~ Northvest-The Volume of
IL ot Chicago and st. Louis
Her Than Year AgO-Bears
mia the stock Market.
-. York. March 5.-Bradstreet's to-
row will say: THE new administra-
.ne certainty of an extra session of
w., oss within a fortnight, and the prom
, of a new tariff at an early day, which
IN nrovide adequate revenue and pro-
lion have done much to stimulate a
- feeling in trade circles and increase
.edence in the near approach of an i'm
cement in business. Total clearings at
o,tv-four cities for February, aggregat-
\ 60 eS.716266, a decrease of rs per cent.
e.o,, tbe January total, and 1.02 per cent.
..,n, that of February a year ago.
General trade has been interfered with
-, rain. high water in the Ohio valley and
-aou, in the northwestern spring wheat
states.
The South Atlantic and Gulf cities have
had some better weather.
"With the merchandise movement equal
10 expectations at Chicago and st. Louis,
there has been a marked increase in the
yojume of purchases from jobbers, both
bv interior merchants in person and by
mail orders, yet it is probable that the to-
tal trade at neither city equals that at a
corresponding period a year ago.
The stock market was raided by the
hears on the antitrust feature of the
Presidents inaugural address. London
has been weak, and sold stocks for the
past two days, on the unfavorable eastern
poitical outlook. The coal stocks have
been weak, on publications unfavorable
10 the Jersey Central In spite of its ir-
regularity, the market has a very strong
tone. the sustaining feature being the re-
funding plan announced by the Lake
Shore company, in conjunction with a
bankers syndicate.
There were 262 business failures
throughout the United States this week,
compared with 25S last week and go in
the week a year ago.
R. G. Dun & Co. will say tomorrow in
their weekly review of trade: The slow
and gradual improvement observed for
some time has continued during the past
week and without material check There
IS a better demand for most products on
the whole, with a continuance of specu-
ative buying in some, notably in wool.
because of expected duties. Meanwhile,
the money market continue as easy and
undisturbed as if there had never been
anxiety about the gold reserve. and fairly
large sales of stocks on London account
during the week, possibly because of in
ternauOnal anXieti% have made no per-
ceptible difference in American markets.
Cotton has declined an eighth, with
good reason, for although receipts from
plantations fall off, the decrease is not
greater than the decrease in consumption,
owing to stoppage of mills. AS there is
comparatively little cotton available in
the country. the market is a very conven-
lent one for spectators to manipulate.
While many of the mills have stopped
production of cotton goods for a time, the
general outlook is on the whole unchanged
and the demand for goods does not inn
prove while print cloths are a shade lower.
The demand for wool has diminished.
though only little, and sales are quite a
third more than the full consumption of
all mills, if all were at work, but the spec
ulative buying continues. Although. some
more mills have gone into operation, the
course of the market has not favored great
activity, but it may be said that for goods
OF the higher grades, there is a better de-
mand than heretofore
The boot and shoe industry can reckon
good many more shops at work, and
shipments have been IS large for the past
four weeks as in any previous year. The
market for materials has not changed to
any important extent
W ale the demand for Bessemer pig has
sustained the recent advance to 5000 pei
ton at Pittsburg, and grey forge Is still
quoted at 50. 40 there, and there is also less
cutting of prices to get more business in
finished products, the general range OF
prices still continues very low. Wire nails
rave been advanced by heavy buying to
Sh pc" key, without change in cut nails
winch are dull, and there is less evidence
or eastern mills selling rails below $40
except for export, some sales of that char
acter having been made at $18 Western
makers are said to be firm at $21 per ton,
but the demands of the most important
railways have beenysupplied for the pres
ent' the consumer of billets are not i'm the
market just now and with somewhat larg.
er production of pig iron, il may be doubted
whether outside of rails, the demand for
uhlshed products equals the capacity OF
the works.
Failures for the week have been 246 in
IIe United States, against 2S5 last year
anu o. IN Canada, against 6S last year"