The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-11-06
FALLING OFF IN FAILURES.
THE OCTOBER SHOWING BETTER
THAN IN FOUR YEARS.

Operation Cotton Manufacturing
Dull, Owing to the Accumulation
OF Goods.
New York, Nov. Or. G. Dun & Co.
will say tomorrow in the weekly review
of trade: Stronger proof of the great
change in the condition of business could
not be given than is found in the detailed
report of failures by branches of business
for the month of October. Though swelled
by a few large speculative or brokerage
failures, the aggregate was smaller than
in any other month for more than four
wears, except in July and August, and one
mouth in 1894 The manufacturing and
trading failures, s7,s2S, 1893, against $780,
10 in September, and $7,760SS5 in August.
include one for 100000 having no rela-
ton to the present state of business. Dur
ing the four years iron manufacturing
failures have not been smaller except i'll
one month; wool manufacturing, except
in two months. leather and shoes
and unclassiied manufacturing, except
in four months, and cotton mills, except
ing six months. In trading classes fail
ures have never been smaller-in groceries.
iewelry and books-except in one branch,
clothing. Improvement is general, with a
remarkably low average with most classes,
which has leaning that cannot be mis-
taken.
THE quiet following the great rush of
orders and purchases for over two months
is still increased in many branches by
unseasonably mild weather, and yet the
mills are obliged to refuse many orders
because they are unable to finish previous
Engagements soon enough 1t is in every
way fortunate for the industries and the
would-be buyers since speculative pur-
chases would otherwise advance prices
so far as to make reaction probable.
More works have Joined the active list,
including some long idle. and the produce
ton in iron manufacture is the greatest
ever known. The output oa pig again ex-
ceeds the demand, which naturally dimin-
ishes near the close of the year, and prices
yield slightly but the consumption is kept
at the maximum by pressure of orders
which the works are not able to fill fast
enough. The Illinois Steel Company, ship
ping 5000 tons of finished product per day,
is behind. Eastern and western orders
accumulate for railway materials for cars
and bars, for ship plates and structural
forms.
Cotton manufacture Is doubly hindered
by the decline in cotton and by an accum-
ulation of goods, with slow distribution,
so that print cloths have fallen 2. 81 cents,
a new low record and staple goods are
sold at concessions, all averaging not
per cent. above the lowest point.
"In wooden goods the advance has been
arrested by doubts about the future mar
ket for goods, and the cost of coal, which
has advanced slightly in October, though
heavy sales to take profits are reported,
few at Boston covering 100000 pounds
this week.
''The mills have all they can do for some
time and the opening of the next season
may be deferred until the future can be
more accurately judged.
Gold weather is greatly needed to has
ten distribution of textile goods, and to
provide indications of future demand.
Another rise in wheat lifted the price
above 81, but profit-taking speedily caused
a reaction and the price closed PFC lower
for the week. Receipts were about 1,OO0,-
600 bushels larger than last year, and At
lantic exports, flour included, were 1921, 536
bushels, against 1852, 500 last year."
Corn has grown stronger in spite of the
course of wheat, and authorities credited
estimate the yield at 1928, 100000 bushels.
which would hardly permit continuance of
exports in place of wheat through the
year
Cotton has not lifted above cents, and
the accumulation and declining prices of
goods with the somewhat increased pros
pect of extensive stoppage of English mills,
causes less speculation than usual.
Failures for the week have been 276 in
the United States against 230 last year, and
80 in Canada, against 50 last year"
New York, Nov. 5.-Bradstreet's to-mor-
row will say: killing frosts south, the
raising of quarantine embargoes at near
Iy all state lines, the resumption of traf-
fic and a prospective revival in the de-
mand for staple merchandise constitute
the trade features of the week. Rains in
the central western and western states
followed by colder weather, have favored
farmers and stimulated the demand from
interior storekeepers. This has had a fav-
orable effect at Louisville, st. Louis and
Kansas City. Jobbers in the northwestern
states are awaiting seasonable weather to
stimulate the number Of heavy dry goods
and winter clothing. Features at the larg-
er Pacific coast cities are confined to sales
of merchandise and provisions for the
Kondike and the heavy foreign shipments
of wheat and flour. Larger eastern cities
report no increase in the general mer-
chandise movement. New England cen
tiers report that orders from the west ex-
coed those from the south or east. Lead
ing industries continue fairly we'll en-
ployed. While there has been an imme
date reaction IN iron and Steel
furnaces and mills continue well
employed, and the outlook for high
er quotations is unchanged. In addition to
lower prices for southern and Bessemer
pig and for steel billets, quotations for
naval stores, woods, copper coffee, pork
-four, oats and wheat are lower, while
those for cotton print cloths, sugar and
beef are unchanged, and lard shade high
er.
Exports of wheat flour included as
wheat from both coasts of the United
States, and from Montreal this week ag-
gregate 5,5752l6 bushels, compared with
5,91l,391 bushels last week, and 3,472,000
bushels one year ago.
Exports of Indian corn amount to l.
1850 bushels, compared with 1,5S9,0OO
bushels last week, and 2,2f7,000 bushels in
the corresponding week one year ago.
There are 223 business failures reported
throughout the United States, compared
with 2lS last week, and 22S in the week
year ago."
ALL ABOUT AUGUSTA.