The Savannah morning news., 1900-07-21
IMPROVED CROP CONDITIONS.
RESPONSIBLE FOR THE FALL IN
PRICE OF STAPLES.

Bank CIenrinEs Do Not Indicate Any
! improvement in DIstributiOn-HoG
Products. Corn and Wheat Have
All Gone Lower Textile SIT
uation Is Somewhat MIXED Up.
Iron and steel Prices Seem to Be
ScrapinE Bottom.
New York. July 2O-Bradstreets TO NOR
row will say:
Improved crcp conditions furnish the
keynote Of the trade and price movement.
AS result OF them. nearly all staple agri-
cultural products are lower in prices at
the same time, a perceptible evening up
of demand for fan delivery is noted at the
West. Northwest and South. The begin
ming Of fall trade is consequently more
clearly visible in the sections mentioned,
while at the East the marke' are slower
TO experience is improvement and are,
consequently. seasonably dull.
Bank clearings as yet fail to reflect any
perceptble improvement in distribution and
railway earnings, though of large volume,
are. owing TO comparisons being made
with exceptionally good results last year
showing less notable increases both in
gross and net returns. Increased cost of
repairs, tetterments. fuel and wages are
unitedly responsible for this latter fea-
ture, because gross receipts for latest
periods reported show continued, though
small gains.
Hog products have gone lower with
corn, as has also wheat, in which con
tinued liquidation has been noted, with the
result of inducing partial return of the
export inquiry banished from the market
by the recent heavy rise. On the basis of
a crop Of $50 C0o.000 bushels total crop the
outlook Is that an export OF l32, coo, 900 to
$4,000 coo bushels will be possible without
reducing visible and farm supplies ma
terially from the totals as estimated
July /.
Iron and steel Market.
Iron and steel prices are evidently scrap
ing on bottom if reports from leading cen
ters of cost of raw material and wages are
correct. Bessemer pig [ Pittsburg is on
d Sl7 basis, with billets at 81, against, re-
spectively, $50 and $33 a year ago, so that
much of the boom prices have been cut.
Eastern and Southern iron markets are
lower than a week ago No. l Northern
IOuiuiy btlIls Oil 81 PEI tOi anu ~"
grade Southern iron is accommodating. A
favorable feature is the increasing number
of inquiries from Europe. Soft coal is go
ing abroad. too. a cargo leaving for Lon
don shortly.
The textile situation is mixed one.
Present prices for raw cotton and finished
materials do not harmonic. Chinese
troubles have checked export trade in
brown cottons and a summer shut down of
mills producing these goods and prime
cloths is looked for. The crop is emerging
from the grass" In good condition. An
encouraging feature is the rather better
inquiry for raw wool at Boston, but man
ufacturers will not apparently do much
until the lightweight season opens. Adj
vices from the London sales are that that
| market has regained most of the loss
| shown earlier in the session.
Business failures for the week number
| POP, against 22l last week; ia In this week
| a year ago: 1888 in 1898; go in 1897. and 2SC
| in 1896 in the United States.
Canadian failures for the week number
| 26, as compared with % last week. 10 ii
this week a year ago, II in 1898, and q ii
1897.