The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-04-03
GENERAL TRADE SHOWS GAINS
THEY WOULD HAVE BEEN LARGER
But FOR THE FLOODS.

BI L t'OR THE FLOODS.
The Condition of the Country Road
ways Throughout the Central
Western states and Northwest De-
the Demand for Goods From
Country NHerchants-HeavY Move
ment of Fertilizers Reported in
the South Atlantic States.
New York, April 2.-Bradstreet' to-mor-
row will say: THE course of general
trade shows some Improvement, notwith-
standing an almost complete stoppage of
business in the South Mississippi valley
10y washouts, overfiows and floods. The
condition of the country roadways
throughout the central western states and
the northwest is such as to still further
delay collections and check the demand
from interior merchants
Another drop is recorded in the prices
of Bessemer pig iron and steel billets, and
in wheat, flour, coal, coffee and lard
which is in part, offset by increased ac-
tivity and higher prices for wool and for
woolens, for corn, oats, sugar and petrol
cum.
"A heavy movement of fertilizers is re-
ported in the South Atlantic states, inter-
est in lumber and shingles has increased
on the Northwest Pacific coast, and Gal
weston is exporting cattle to Eu-
rope direct. The most favorable
trade reports are from the northwestern
spring wheat states
There are 4,4O2 business failures in
the United States reported by Bradstreets
during the past quarter compared with
4,512 in the first quarter of 1896, a falling
off of about II per cent.
Bank clearings for March, at eighty
two cities throughout the United States,
show an increase of 1.S per cent, com
pared with March one year ago."
r. G. Dun & Co. will say tomorrow, in
their weekly review of trade: THE mar
kets are still waiting, some sagging down
ward and others recovering There is
much disposition to use the decision of
the supreme court against railroad com
missions as an instrument for depressing
stocks, and yet the buying has prevented
a decline exceeding 81 per share, and for
trust stocks 20 cents per share. The re-
have been somewhat encouraging, the ag-
gregate having been, on roads within the
United States, only 81 per cent. smaller
than last year, and the March returns
have been rather more favorable than
those for January or February.
THE vote of the House in favor of a
new tariff bill has made no impression in
business, since it has been expected since
November that some measure of the same
general character would become a law.
If the bill stands with its provision max
ing new duties applicable April 1, the
chances are that foreign imports and
treasury receipts may be for a time con-
siderably restricted.
The market for products has been va
riable and uncertain. Wheat closes a cent
lower than last week, and the May option
has declined cents. The movement of
corn continues so large as to materially
affect the demand for wheat. Current
trade estimates regarding the wheat crop
are little more favorable, and are some
what more likely to prove reliable, as the
advance of the season makes the condi-
ton of growing wheat better known.
Cotton has not changed in price, al
though the floods in the southwest have
doubtless done much harm.
The cotton and other textile manufac-
turers are slowly gaining in business.
though print clothes and most staple cot
tons remain unchanged in prices and re-
striction of output seems to have given
some relief to the market.
THE buying of wool mills is still note
worthy feature, being far in excess of
current consumption. but there is a much
greater volume of transactions between
dealers and at the three chief markets
the sales for five weeks have been So, u.s.
200 pounds against 25,377,676 in the same
weeks of 1892 when the mills were well
employed. Prices are very strong, both
here and at London.
1.-THE iron and steel industry has been
staggered, so to speak by the decision of
the supreme court affecting railroads, since
it is apprehended that purchases not only
Of rails, but of cars, locomotives and bridge
materials may be affected. The demand
for rails is still considerable, and one order
is pending for 10000 tons for Japan, but re-
duction in Mesaba ore, with the want of
agreement as yet, among the producers
of hard ores, tends to encourage the belief
in lower prices for finished pro-
ducts and so to hinder buying.
The great struggle between the ore
producing companies of Mesaba has not
yet. so far developed that anybody can
feel confident as to the future cost of iron
Meanwhile. with pig accommodating, al
though some furnaces have stopped pro-
duction, the price of Bessemer at Pitts !
burg is a shade lower, at $l025 and grey /
forge at SO, but there are no quotable |
changes in prices of finished products |
although the tone is rather weak The |
new combination In cut nails only affects |
selling prices in eastern markets"
-s-e-~