The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-08
BUSINESS NOT so VERY BAD.
SALES BY LEADING HOUSES MAKE
A GOOD SHOWING.

Reports From 357 Concerns in Va
riOus Branches show an Average
of Only 10 Per Cent. Less Than in
April, 1892, and 81 Per Cent. LarG-
er Than in April Last Year-Spec-
uIative Business in Nearly All
Lines smaII-RetuPns of Failures
Show a Decrease.
New York. May 7.-R. G. Dun & Co.'S
weekly review of trade tomorrow will
say: Nearly all will be astonished to
learn that actual sales in April by lead
ing houses in each line of business in the
principal cities east of the Rocky noun
tains average only about 10 per cent less
than in April 1892, the year of largest bus
mess hitherto, and were 81 per cent more
than in the same month last year. Yet
this is the summary of S57 reports, each of
actual sales of leading merchants in a
line of business in one of the fourteen
cities. They are especially encouraging in
view of the great fall of prices within the
FIVE years and with exceptional floods and
other retarding influences this year.
while speculative business in nearly all
lines is small and does not swell clearing
house returns as in previous years, the
volume of legitimate trade shows no CORE
spending decrease and the fact is one of
the highest Importance in all business cal
culations.
Moreover, returns of failures for April
by branches of business, given only by
the mercantile agency. shows a decrease
in number. amount and average of La
bilities in almost every branch of trade
and in nearly all branches of manufac-
ture, except cotton, although failures Of
FIVE New Bedford mills for S7.99O,7S4 make
the total defaulted liabilities for the month
40 per cent larger than last year. 60 per
cent. larger than in 1895, and 80 per cent.
larger than in 1894. The value of reports
tracing failures TO particular lines of busi-
ness is impressively illustrated.
Crop prospects are a little better Tor
cotton because of the passing of floods
and the increase of acreage elsewhere,
and for spring wheat. because the Gus
tomary accounts of injury to winter wheat
begin to appear and stimulate larger SOW
ing of spring wheat than usual. West
ern receipts continue larger than last
year. 2348, 500 bushels against 2,20S,972, and
Atlantic exports also Increase, amounting
to 1,49S. 1867 bushels, -four included, against
,167 last year.
The weeks exports OF corn are smaller
than in other recent weeks. The wheat
market declined cents until Tuesday, and
then rose 11sc. Liverpool speculations lift
ed cotton to 775c, but II has lost a six
tenth, and the consumption in manufac-
ture does not appear 10 be increasing.
THE demand for cotton goods has not
met expectations and neither the prolong-
ed cffrf ffFnepf ~ 1rodf1cffon nv many
mills. the large distribution OF goods since
November. nor the great auction sales
has yet suffced 10 reduce the surplus Of
goods. Print cloths are again lower at
ga cents. the lowest point ever reached
In previous years, and. though some kinds
of goods have found sufficient demand 10
advance prices a little. the expectation Of
better prices and larger consumption in the
future still seems to push the mills TO ex-
coed present wants. The same Is true OF
wool manufacture in many branches, for
orders and sales thus far do not call for as
large production as appears. though IL In
yet much below the maximum, but the In
creasing demand has been encouraging.
Sales OF wool. al prices firm, but no longer
rising, fan much below recent records, in
dlcating that SPECTATORS are growing less
sure Of early profits In view OF enormous
supplies on hand. Al the three chief mar
kets they we're sO25.2O0 pounds. Of which
5,7H,6O0 were foreign. and IN five weeks
the sales have been 1873, $50 pounds,
against 1872 100 In the same weeks OF 1892,
when the mills were well employed
1.-THE anticipation Of better prices and
great increase In demand pushed produce
ton so far IN iron and steel manufacture
that four furnaces In Eastern Pennsyl-
vania and others IN the Pittsburg region
and Ohio have stopped. Bessemer pig az
Pittsburs has declined to $40 and Gray