The Savannah morning news., 1900-06-09
ACTIVITY IN RETAIL TRADE.
WHOLESALE BUSINESS. HOWEVER,
Is RATHER QUIET.

Cereals Furnished an Exception to
the General Downward Trend of
Prices-Current Developments in
the Iron Trade Are FHVOrabIe-In-
Creased Acreage Reports Have
Weakened COttOn-SurpIus Grain
Supplies Decreasing.
New York, June S-Bra9streets to-
morrow will say:
New business at wholesale is of be-
tween seasons character but warmer
weather has offered a stimulus to retail
business in some sections Chief activity
and most attention is, however, stll con-
centrated on the price situation and eff
forts to readjust quotations to meet cur
rent demand and supply conditions go
forward steadily
The only exception to the gen raj down
ward trend of prices is that furnished In
leading farm products, notably cereals;
but here the moving cause is hardly a
favorable one, being the result OF less
satisfactory crop reports particularly
from the Northwest, and it is 10 be not
ed that advices from the Central West
where the winter wheat yield promises to
be very short are also less favorable
The Northwest has had some rains, but
1t is claimed not enough 10 render the sit
uation free of danger. Corn crop condi-
ions remain favorable, as likewise do
those of oats. but these grains and hog
products have sympathized in the upward
movement of wheat, which has at last
broken from lis lethargy ana is again
attracting speculative attention. Foreign
crop advices il might be added are no.
fiattering. The German rye crop promises
to be very short; the same report come 9
regarding French wheat and English crop
advices are not of The best,
II, as has been claimed, lowered prices
for iron favor an increased con-
sumption, current developments in
this trade may be classed ss favorable,
because concessions are being male in
| nearly every branch of trade The price
| of Bessemer pig and steel bllets for the
| last half of 1860 has been agreed upon. the
| result being a drop. OF 16 per cent. in pig
/ iron and Of 20 per cent. in bllets from
the old nominal quotations. which, how
/ ever, have not been closely adhered TO OF
4 late. Southern iron adYices are of shad-
! ingtin quotations, in sympathy with SIM
| liar action taken at PittsbuTg. Chicago
and other iron markets. Prices at Biz
mingham are now on a parity with those
OF Europe, freight charges considered,
and here, as in the North. the possibility
of labor troubles inuudes itself.
Cotton slightly Weaker.
Co ton is slightly weaker on reports of
heavily Increased acreage but the crop
is late. and advicss this week are of an
excess of rain in the Miss IS ppl valley
and Texas Cotton goods are dull. Wool is
dull and on the whole slightly weaker at
Eastern markets. Mems wear goods re-
orders are of fair volume, while mills en-
gagged on Women's wear goods are fairly
well employed. The outlook faVoTs lower
prices for the new spring weights.
Little hat is new comes from the shoe
bus ness. Leather is dull and rather weak
err. Price shading Is report ed the rule. in
humber, and these, coupled with low wa
ter in the Northwest, will, it is hoped,
restrict new production.
Surplus wheat supplies are decreasing
rapidly, lending interest 10 current I'M
favorable crop reports. The decrease in
American stocks, as reported to Brad
streets in May was 13, 100000 bushels,
against a falling off of 9O33, 900 bushels in
April. Supplies in Europe, Australia and
Argentina also decreased. though to a
much les extent. and the result is an ag
gregate worlds supply on June /, of l43,
$3.50 bushels. supply l5,61lC00 bushels
less than on May /. and comparing with
a decrease in May year ago of less than
1000, 600 bushels. and two years ago of an
increase of nearly 100000 bushels The
decrease in American and European sup
plies is the largest reported in any month
since 1898. and is the largest reported in
May since 1895.
Business failures for the week number
1874 as compared with 49, last week. 17S
in this week year ago, 22l in 1898, 256 in
1897. and PA in 1896.
There we've 95 failures in Canada in
May, involving 1891 go OF liabilities, an
increase of IS per cent. in number. and Of
IS psr cent in liabilities over the same
month a year ago.