The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-10-01
BUSINESS AS VIEWED BY DUN.
PRICE OF COTTON LOWER THAN
FOR FIFTY YEARS.


Large Commercial and MIL Stocks
Preclude Hope of An Early RecOv-
erS-FnH In Cotton Affects the De-
mand for Goods, As Buyers Hope
for Stfu Further gna-
1ion In wool Continues With Sun
Smaller sales Pig Iron Firm
Everywhere and Its Consumption
Is Evidently GrOwing-Wheat Rose
Thursday. But Closed Cents
Lower.
New York, Sept. S0-R. C. Dunn & CO..
Weekly Review of Trade tomorrow Will
say:
Futures in September have been about
ST. 700 000, and for the quarter about s22,-
$500. No report covering the exact
month or quarter is possible this week
for a journal which must go to press on
Friday. the S0th, but the returns indicate
a smaller aggregate Of failures than in
any other month in many years excepting
in August of this year, aud smaller for
the quarter than in any other quarter
since 1892. In fact excepting the quar-
AtA III AAtat sNdAf iit OAl4SA t-RANHAo ~ nav
shown a smaller aggregate unless more
than ten years ago, when the volume Of
solvent business was very much smaller
than it is now. Evidently the complete
returns to be given next week viii show
that the state of business Is in that re-
spect more satisfactory than 1t has ever
been, unless in one quarter Of 1892.
,fTf ~ lNoa nj
ing the fall of cotton to the lowest point
for fifty years, and even the lowest
prices Of 1S4S, considering differences Of
qualities, were perhaps not lower than
prices this week. If there We're not on
hand commercial and mill stocks unus-
ually large, or if manufacturing
were successful, early recovery
might seem probable, but the heavy fall
In material has affected the demand for
goods, causing buyers to expect stili lower
prices for them, although after the decline
last week goods now average lower than
ever before. While the stagnation in wool
continues, with sales even smaller than IN
the same month of the panic year, lS93
numerous mills have started temporarily
in order to get out sample pieces. There
have been no quotable declines in woods,
scarcely any IN BcQuE. the EtuuIliDlA nav
ing stimulated a larger demand the de-
mand for boots and shoes seems a little
better. and recorded shipments have been
larger than in September OF any year pre-
vious except The last, and larger than in
any other year from Jan. l to date In
the minor metals, slight weakness in tin
and lead does not indicate small consump-
ton, while copper Is strong al 12Ac for
lake, and speter strong at s432la Nickel
Is higher at S5c TO CSC and tin plates I'M
changed in spite of the enormous increase
in production, though the desire TO push
smaller works into the consolidation
which now commands ia mills, is said
to threaten temporary decline.
with pig iron firm everywhere, in spite
of the extraordinary output, and BESSIE
mer held at 5000 at Pittsburg, while val
ley products report 10000 tons sold for
delivery before June next, the consump-
tion is evidently growing
Wheat rose 2lA cents on Thursday, de
clined sharply, closing cents lower for
the week, Notwithstanding very heavy ex-
ports, amounting for the week to 4,911 022
bushels, against 5,092 1856 last year and for
four weeks TO 1901, 942 bushels, against %, -
6Sl ,315 last year, -four included The usual
Babel of guesses does not change the be-
lief that the crop will be the largest ever
grown, and while farmers throughout the
West are holding back largely because of
the low price, the Western receipts are
now running above even the extraordinary
movements a year ago, both for the week
and month.
Corn is a fraction lower, with some
decrease in export demand, even through
the recent shipments would have been
considered heavy in any year until the
last, and can hardly be continued long.
Failures for the week have been 1875 In
the United States, against 1874 last year,
and II in Canada, against 81 last year.