The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-01-29
BETTER TIMES IN BUSINESS.
INCREASED ACTIVITY SHOWN IN
MANY LINES.

MONAnE ABWaIu-EltaNs
crease in Bank CIearings-AnOther
Big Drop fn the Number of Fail
ures-SpecuIative Activity AwaI-
cning I'm the Cotton Goods Market.
Pig Iron Feels the Effect of Over
production.
New York, jan 28-Bradstreet's to-rnor-
row will say: Favorable conditions in
the trade situation continue to far out
weigh those of an opposite character.
! Stormy weather throughout a large sec
ton of the country this week has checked
the movement of merchandise into con-
sumption, but a perceptible increase in
the demand for seasonable goods is re-
ported as a later result.
1.-THE last week of the month closes
with increased activity in many lines, a
| number of price advances, heavily in
| creased banking clearances as compared
with one year ago at nearly all of the
cities, and another considerable drop In
the number of failures reported, large eX-
ports of cereals, particularly wheat, corn
and flour, and perceptible confidence in
nearly all branches of trade as regards
| the outlook for spring business. Another
| favorable feature of the week is the slight
but distinct Improvement in the cotton
goods situation, in. which speculative ac-
tivity is awakening. PRINT cloths are
higher. and some makes of gray and ne
dunn weight cottons are more firmly held.
Pig iron is rejecting the effect OF the
| present Unprecedented productions ana
further weakening in prices is recorded
at Eastern points.
Boots and shoes hold the late advance
and manufacturers of heavy weights VIII
not take orders for fall delivery at pres
ent prices.
"Wool is strong on large sales and firm
prices abroad.
1.-The active demand for the Klondike
trade is reflected in canned goods, the
stocks of which are reported very low
with prices holding the late advance.
Collections are generally reported falr,
those indicating backwardness coming
most generally from the South.
Cereal exports are again heavy, the
shipments of wheat, including flour, for
the week, amounting to 5,1106A bushels,
against 1926, 900 bushels last week, and
2,515,OOO last year. Corn exports are A.
1852 coo bushels this week, against 3,4S6,OOO
bushels last week. and 301l,000 bushels
last year.
Business failures for the week arts~the
smallest reported in the fourth week OF
January for five years past, numbering
only 2SS, against 800 last week, 326 last
year. 1893 in 1896, 312 in 1895. and $40 in
1894.
"Of the failures reported 251, or 81 per
cent, were of concerns having 5000 cap
ital or less, and 80 per cent, in all, were
of concerns having less than $4,000 capt.
tai.
Canadian failures numbered AS against
40 last week, and Sc a year ago.
r. G. Dun & Co.'S Weekly Review of
Trade will say tomorrow; The first
month of the new year has brought rather
more increase in business, but less inn
provement in prices than was expected
r with the movement through clearing
house z3 per cent larger than in 1892 and
probably the largest ever known in any
month, with railroad earnings 11.2 per cent.
larger than in the best of past years, the
fact that pirces are very low, shows very
clearly that great quantities OF product is
sold"
Nor is there any disposition to refuse
orders, even at present prices; indeed the
competition of manufacturers seeking or
derS alone prevents a rise. Most of them
have all they can manage, many working
night and day, and one great steel con-
Germ running on Sunday but the works
not yet filed with orders are seeking con-
tracts at as low prices as have ever been
/, made, indicating that even these are not
entirely Improbable.
THE settlement of wages on a 10 per
: cent. advance April l. for go coal miners
of the central region with other changes,
will tend toward a larger demand for pro-
duets of small kind, though toward some
increase in the cost of manufacture.
Wheat has been conspicuous, rising &c
for the week Western receipts have been
10000, 053 bushels in four weeks, against g.
,7l2 last year, but Atlantic exports have
been 12003S 3S bushels in four weeks
against 7,103674 last year and Pacific ex-
ports, leaving out Tacoma, for the week.
4,0l5,5SS bushels against S.454995 last year
/ 80 heavy an outgo with wheat over 81
per bushel and with corn exports for the
; four weeks equalling the extraordinary
movement of last year. discloses the
strength of foreign demand even better
than current accounts of disappointing
} shipments from Argentina, and poor pros
poets in Russia.
E Cotton has risen sixteenth of a cent,
Notwithstanding the strikes in the eastern
mills and the report of decrease of /. %
per cent in British exports for cotton
goods last year. Receipts still run so
far beyond those following the largest
crop on record, that estimates once DEEM
' ed eXtravagant are commonly accepted.
= THE cotton manufacture is in more diff
ficulty than any other generally, because
prices do not improve as yet because of
the demand for goods, though helped by
the closing of mills, but largely because
lne manufacturers nave DteIi dllGCleu by
increased southern production.
''Worsted manufactures are doing well
fine worsted goods opening at an advance
of 20 per cent. over last year, and large
mills are constantly buying WOOL even at
! current higher prices which indicates con-
fidence in the situation, presumably bss-
ed upon larger orders than are usually re-
ceived. Purchases of wool have been fire.
queut of late, even by mills supposed TO
be supplied far ahead and one Providence
mill appears to have taken $4,000 pounds
of wool at Wheeling this week.
= '"rhe iron manufacture is getting larger
: orders for finished products, which crowd
many works almost beyond their capacity,
, though some works are still i'm the mar
ket keeping prices down. Pig iron is
steady, except that Bessemer at Pittsburg
is 10 per cent lower the output last year
being reported at 9,6526SO, and the con-
sumption in this country, unsold stocks
considered, 9625,SS3 tons against 1901 ,5O4
in the largest previous year, which was
1895.
1.-The failures for the week have been