The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-09-25
THE CONDITIONS OF BUSINESS.
THE YELLOW METAL CONTINUES TO
FLOW HITHERWARD.

Il
of september Trade In Favor OF
american Exports Will Be Greater
rI5an In August-The. Effect OF
Fever on the Trade of the Country.
the Demand fer Goods In the
south Decreases With the Decline
Of Cotton.
Nsw York, Sept. 24.-R. G. Dun & Co.'S
weekly review of trade will say in its is
sue tomorrow:
",1old imports have begun direct from
ENGLAND and from France, besides the ar
rival Of 100000 at San Francisco from
Australia for wheat exported. The gold
rs.sived there and started from Europe
amounts to $s,5OOOOO in two days, and the
advance of its rates by the Bank of Eng
land 10 2ls per cent. seems likely TO check
the movement, in view of heavy merchan-
disc balances due to this country and a
rise in the rate of interest here. The
August excess of merchandise and specie
exports over imports was not far from
S42O0O.J0O, and the September excess will
be- larger, unless shipments of gold are
considerable. Merchandise exports from
New York in three weeks of September
have been 1873 per cent. over last years,
and imports 1877 per cent. less, and like
changes on the whole trade for the month
would result in next exports of $4,000, 900
merchandise, beside silver.
Produce markets have been uncertain,
closing a fraction higher for both wheat
and corn, while the decline in cotton con-
OF
the end of August, cotton has dropped 49,
cents or Is per cent. in less than four
weeks Fever in some southern cities has
not been largely influential, and the main
factor has been a general impression that
estimates are as misleading as they were
when the yield was the greatest on record.
The corn estimate most credited by the
trade is only 1,75O,O0O,OOO bushels, but is
coupled with figures tending to show a
surplus from last crop of 4000OO,0OO bushels
over ordinary consumption, Were this
quite believed, the price would not be ris-
ing, although exports continue heavy, in
three weeks 9 1927, $40 bushels, against $780,
ISL last year. Wheat has gained a frac-
lion for the week. while Atlantic exports,
-four included, for three weeks have been
T. 49S ISL bushels, against 6,1SS,743 last year.
Western receipts are exceeding last years,
ana foreign estimates now agree in max
ing the probable requirement from this
country over 1O0,O00,000 bushels greater
than last year
The official ending of the western coal
strike adds many men to the working
force in the mines and others in manufac-
lures using bituminous coal. The anthra-
etc coal strike has ended and no extern
IL 1seA, d "a
output of coke is now 125, COO tons, and the
price is also advanced,
Heavy buying has raised Bessemer pig
at Pittsburg to 5000 and Grey forge to
$3.50, with actual sales of 10000 tons of
Southern pig in the Mahoning valley for
S675 at Birmingham. Blllets are quoted
at $6 Is and $23 has been refused for wire
rods. The structural work is behind or
ders tin plate mills are hindered by fail
ure to get sheet bars delivered fast enough,
plate and sheet mills find
heavy demand everywhere and
bars are in great demand for
cars at the west. The average advance of
iron and steel products from the lowest
point is So per cent.
Wool sales at Boston have decreased
quarter but manufacturers are still I'M
able to find profits in goods, with wool
at present prices. Reported sales of wool
are more than double those of the most
prosperous years, but the rise in prices
renders the future more doubtful except
for manufacturers having heavy supplies
laid in. The cotton mills are doing a
large business, although recent buying of
goods has decreased after the recent rush
Failures for the week have been 209 in
the United States, against 315 last year
and % in Canada against 80 last year.
New York, Sept M.-Bradstreets to-
10
the inward sweep of demand in staple
lines noticeable throughout the country
for the past six weeks. The yellow fever
quarantine, which extends from Texas to
Georgia, has brought WHOLESALERS business
10 a practical standstill throughout the
greater portion of the region embra ced
by the Gulf states. AT centers of distri-
button in eastern, middle and central west
orn states, the recent activity in dry
Soods, hats and hardware had fallen off,
but at the northwest and on the Pacific
coast buying by interior merchants and
the free distribution of merchandise con-
'inue TO be features. Demand for heavy
textile fabrics has been stimulated by
colder weather, and st. Louis merchants
say the yellow fever scare will have no
effect upon trade at that city, as south
orn merchants had supplied themselves
there before the quarantine was enforced.
Inc outlook for business IN parts OF
Texas Arkansas, Tennessee and Georgia
is for a much duller season than had been
expected. Favorable features of the week
are found in sharp advances in prices for
iron and steel, heavy sales of Bessemer pig
iron, steel billets and rails, and pros
pect that iron and steel prices will go
higher in the near future. Wool is also
higher and wooden goods for 1898 delivery
are no 10 and 10 per cent, with the out
look favoring further advance. The in
creased volume of general trade is also
STIMULATED by the continued heavy move
ment OF cereals to tidewater, the almost
unprecedentedly large quantities exported
'l'h week, and the increased number of
people finding employment in industrial
ana commercial lines as compared with a
year ago. together with the tendency of
soid to come here from abroad
Exports of wheat (1our included as
@neaD from both coasts of the United
States and from Montreal this week
amount to 5,623. 493 bushels, compared with
A-N59iS bushels last week. 1880 900 bush
Us In the week a year ago, S15i, 900 bush
two years ago, 1852 900 bushels three
feara ago, and as compared with $3.50, 00C
SW.isAels in the corresponding week OF
Exports of Indian corn aggregated