The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-03-05
BIG VOLUME OF BUSINESS.
RECORD BREAKING BANK CLEAR
INGs AND HEAVY EXPORTS.


tributive Points SatisfactOry-Priee
of Pig Iron Advanced Despite Inn
mense PrOductiOn-FaiIures show
Falling on.
New York, March 4.-Bradstreets to-
morrow will say: Nearly all signs point
to an unprecedented volume of business
being done or arranging for at the pres
ent time. The aggressive strength of
prices, record breaking bank clearings
and continued large exports, particularly
Of the lower priced cereals, a very heavy
volume of business in iron and steel and
kindred lines and generally satisfactory
reports as to the volume of spring trade
at leading distributive centcrs are among
the visible features of trade development.
Nearly all of the country's cereal prod
ucts are higher in prices this week, as also
some varieties of provisions, Ressemer
pig iron, copper, raw cotton and tin. The
further advance in pig iron this week
would seem to indicate that the immense
current production is as yet without Wis
ible effect on values.
"The price of copper showed an advance
| of nearly 1 cent per pound during Feb
ruary, while the consumptive demand and
statistical position are such as to lead TO
confidence at least in the maintenance of
present prices, If not of a further advance.
Few decreases in price are noted, su-
gar being the most important, while the
list of staples, steady and unchanged,
numbers pork, coffee. lead and print
has
had an encouraging effect upon Southern
trade, which is generally reported good
and better than usual at this season. The
export of corn from Southern ports is an
additionally favorable feature, while the
practical agreement of Southern iron pro-
| ducers as to prices, with general satisfac-
tory collections at most points, has i'm
parted a decidedly cheerful tone TO ad-
vices from that section.
TRADE is larger than usual at the Cen
| trail West, particularly in dry goods, gro
ceries, boots and shoes. hardware, lum-
Der and agricultural implements, the de-
mand for the latter being notable fea-
ture at nearly all markets. Spring trade
has opened up well in the Northwest and
the jobbing trade is quite active. Signs
| are accommodating that the rush of all
sorts of vessels to the Pacific coast to
| take part in the Kondike trade has be-
| gun to affect charter rates, which are
reported weaker at San Francisco.
Cotton goods display strength. although
print cloths of regular widths are some
what easier. Ginghams are in better de-
mand than for several years past.
Spring business in wooden goods has
been rather disappointing, but a good de-
mand for mems wear goods for fall deliv-
cry is reported and the mills are well sup
| piled with orders. Wooden manufacturers
are not in the market for raw wool to any
extent, but prices are still firm.
"A further shrinkage in wheat exports,
but a corresponding enlargement of the
shipments of corn and the lower priced
| cereals is indicated this week. The total
| exports of wheat. flour included, from the
United States and Canada, aggregate
/ 3,252,000 bushels. against 9722,O00 bushels
! last week, 2,075OO0 bushels in this week
| year ago, 100000 bushels in 1896 and
S,272,O00 bushels in 1895. Corn exports
amount to 5,O546 94 bushels, as against g.
| 692OOO bushels last week, and g. 90, 900 bush
els this week last year
| Business failures in the United States
| for the week number 232, as against 1873
for five business days last week. and
262 in the corresponding week of last year
Business failures in Canada number
for the week 25, against 80 last week and
! 81 last year"
New York, March Ar. C. Dun & Co.'S
weekly review of trade will say to-mor.
row: "Stories of the most reckless sort
| disproved promptly, and many of them be-
fore they are told, affected speculation in
stocks much last week and at times this
week, but they have not disturbed the In
dustres and the trade of the country az
ALL There is confidence that the au>
thorities are doing what is proper 10 pro-
vide for public defense and business is
| going on without the assurance that it win
not be seriously disturbed.
THE grain, cotton, meat products ana
! petroleum markets have been strong with
gradual Increases in the demand for man
| ufactured products
Failures in February have been smaller
than in any other month. except three
| of the previous fifty-two months with n
! remarkable decrease in the failures OF
SlOOOOO and over, though in number anc
amount the smaller failures show less
change than might have been expected.
indicating that in good times or bad a
| large proportion is due 20 causes apar,
from The general condition of business.
The ratio of defaulted liabilities to pay
ments through clearing houses is but $1.7i
per $1,000, lower rate than has appeared
| in the first quarter of any year. except
1880 and 1881, of the past twenty-three
years.
! "lhe best evidence of general improve
ment is the fact that payments through
clearing houses for the past week have
been $50 per cent. larger than in 1892 and
outside New York with speculative inter-
ests 17.6 per cent. Compared with last
year the gain has been &C. per cent. for
the week and 1913 per cent. for February.
Production of pig iron is the greatest
ever known. Foundry at the East is
slightly lower, basic pig having been Of
fered in sharp competition at about SO
though Southern makers in Alabama and
Tennessee, excepting two, have agreed up
on plan of sales through commission.
The demand for finished products covers
work far ahead in plates, structural forms
| sheets, pipe and rails
THE strike in the cotton mills does not
spread. but helps to slightly better de-
mand for some goods while in woolens the
business IS slow in some of the finer quail
tiles, which have been much advanced in
price and in these and other grades as
well cancellations have often exceeded re-
orders, indicating less distribution than
was expected at the advanced prices. Wool
has yielded little
Wheat has grown stronger. exports