The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-04-10
0IINs REVIEW OF BUSINESS.
ur FAILURES FOR THE FIRST
QUARTER NUMBER 4,OO6.

liabilities Aggregate 60,752 ,56I
,enty-four banking Failures
aresentinE More Than One-fifth
no Liabilitics-Much Improve
IN, over Previous Years shown
the Returns-A sudden Collapse
the wheat Mnrket-Check on
ejaculation in Wool.
w, York. April Or. G. Dun & Co.'S
.,.,, review of trade will say: "Out of
w. f,itlres with liabilities of s6O, 752, sol, in
~. arst quarter, "A banking failures COW
- more than a fifth of the amount, Sl2,-
zen and S.S45 failures with liabilities of
s,;ai7 ss2 or nearly three-fifths, are CLASH
al this week according to branches of
h,siress. leaving only 5S7 failures, and
,.ss than a fifth of the liabilities, So, $780,
nq in branches of manufacture or trade
rot specified. Only two of the thirteen
manufacturing classes, and only four of
the thirteen trading classes show liabili-
ties for the quarter larger than last year,
and only five manufacturing and three
trading show larger average liabilities.
the nlOIln Ol NAdICn only three man
ufacturing and four trading classes show
larger amounts than last year, and only
two manufacturing and five trading show
q larger average of liabilities in almost
every case. Also it is shown that the in
crease is due to one or two exceptionally
compared with those of three previous
wears disclose much Improvement already,
and a bright prospect for more hereafter.
"A sudden collapse in the wheat mar
ket exceeding 3 cents in day, appears
TO have no other cause than a bella led
perception that past accepted estimates of
yield and consumption, official and other
wise, have been misleading. Floods and
other unfavorable weather for seeding
have no weight. Expectation of great
scarcity and high prices burst like a buo-
bic, and for a time the only support was
the taking of profits by SPECTATORS for a
fall. Receipts have not warranted hopes
of a great advance, nor do they now war
rant much expectation of decnne. Vest
ern receipts are smaller than last year
and Atlantic exports are not large, though
over 90 per cent. larger than a year ago
Corn receipts continue heavy and OK.
ports for the week were 1923 1877 bushels
against l,l42,7l0 last year, and Atlantic ex-
ports Of wheat, amounting, -four included.
to only 52l l22 bushels, against 967, 553 las.
year
I'm spite of foods, which must have ma
terially affected the prospect, cotton has
only advanced an eighth during the week
The fate of those who were absolutely
certain that the crop of 1S96-97 was very
short has left but little confidence for
further speculation.
Speculation in wool has been checked
by the possibility that duties may take eff
feet April |, and some large shipments
from abroad have been countermanded
while traders here are less disposed to
sell. But trading between dealers makes
up more than half the sales of 1878. 400
pounds for the week, and since sales in six
weeks at three markets, have been 76, 664.-
GOO pounds, it is not improbable that many
mills have, as is claimed, a full years
supply.
The demand for mems goods has dimin-
ished, the first round of purchases having
been completed by many buyers with re-
suits fairly encouraging. and the demand
for dress goods, especially of the lower
grades, has caused an advance of s per
cent in some lines
The iron industry is hampered by the
contest between Mesaba ore interests
which prevents as yet any settlement
Of ore prices, and leads many to expect
llrther decline in finished products. The
illinois steel works, the Lake Erie works
at Cleveland, and the works of oliver &
Co. and Byers & Co., at Pittsburg, are
stopped by labor difficulties, and some fur
haces nave stopped because the produc-
Ton OF pig had outrun the demand for
nnished products and heavy stocks re-
NAMED unsold.''