The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-06-18
BUSINESS SITUATION BRIGHT.
FOREIGN TRADE UNPRECEDENT-
EDDY HEAVY.


BreadstuFs, Provisions. Raw Cotton
and Manufactured Products Going
Out In Immense QunntitIes-Col-
lapse of Letter and His Deal Fol-
lowed by n Quieter Feeling ia Ce-
real Markcts-FaIIures COmpnra-
lively Few.
New York, June 1T.-Bradstreet's to-
morrow will say; Unprecedented foreign
trade totals involving heavily increased
shipments of breadstuffs, provisions. raw
cotton and manufactured products; fat
tering crop prospects, pointing TO very
large yields of wheat ana most other
cereals, as well as cotton; profitable rail-
way operations, as reflected in relatively
heavier gains in net than In gross re-
ceipts; activity in nearly all lines of man
ufacturing, except some textile branches;
prices for most staples showing heavy adj
vances over the preceding year; bank
clearings exceeding all previous records az
this date; a volume of new demand limi-
ted in the East and South to midsummer
dullness, but in the West and Northwest
comparing favorably with records of pre-
vious years, and a low rate of business
mortality are all features of the general
business situation at the present time.
The collapse of Letter and his deal In
wheat, with the demoralization in prices,
which was a concomitant, has been follow
ed by quieter feeling in cereal markets,
but export demand, partly on early placed
orders has improved. and more Is doing
by flour millers 1t Is true that the con-
tinued wet weather in sections Is affecting
wheat harvesting, but trade opinion leans
to a crop of 7O00O000O bushels of wheat
and large yields of most other cereals,
with corn promising least favorably.
Cotton acreage and condition alike fore
shadow a yield which may be slightly
smaller than last year, but this might
easily be compensated for by an advance
in values. which are higher on the week.
"A rather quiet tone is shown in the
iron market this week, relatively most ac-
tivity being exhibited at the West
Cotton goods, if anything, are slightly
improved, but raw wool is still in re-
stricted demand. because manufacturers
| find new business slow.
THE price situation shows declines In
| Southern pig iron, wheat and -four, while
| hides are higher at the West, number of
metals have been advanced and oats, corn
| and cotton note fractional advances.
THE West and Northwest continue the
| scene of relatively most activity alike in
| demand for staples and merchandise.
| THE excellent crop prospects In the
| Northwest are reflected In a satisfactory
| trade in seasonable goods and a relatively
| larger volume of orders for fall trade with
I the aggregate sales at most cities heavily
! in excess Of the corresponding week in re-
! cent years.
! Wheat exports for the week aggregate
| 4S307S7 bushels, against 4,730 9S2 bushels
: last week, 2,547 $40 bushels In this week a
year ago, 3020,317 bushels in 1896; 1851 1907
| bushels in 1895 and ,927 10000 bushels in 1894.
| Corn exports are smaller than last
! week, amounting to 100000 bushels, com
! pared with Alta, 1903 in the preceding week
j, 923, 313 bushels in this week a year ago;
| 1,510,0 900 bushels In 1896, and 85S 900 bushels
| In 1895.
| Business mortality Is at a low point,
| the failures for the week numbering only
| 2O7 IA smaller than week ago. 10 fewed
| than in the corresponding week of 1897, IS
| smaller than this week in 1896, "a smaller
| than 1895, and only IL larger than in this
| week of 1894 when restrictions of credits
| and dun business was most marked"