The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-06-16
REIMBURSEMENT OF PRICES.
LOOKED TO AS A SOURCE OF BUsI-
NESS PROSPERITY.

ScnSon of Declining Prices May Thus
Have Il Good ERect-Grent Increase
in the Output of Iron Furnaces,
But the stock on Hand Has Also
Grown-Reconstruct Is Rather
Slow in the Cotton Goods Market.
shipments of Cereals.
New York, June l5.-R. G. Dun & Co.'S
Weekly Review of Trade tomorrow viii
say:
A season of declining prices is never
wholly agreeable to business men who's
stocks on hand are losing part of tie
value. Yet there are times when return
to the highest prosperity in business is not
possible, except through readjustment of
prices. The highest prosperity the country
had ever reached, prior to the panic, was
in 1892, with prices averaging rot quite 70
per cent of their average in 1880. After
great depression for several years the
highest point reached with last years 1e-
covery was 50 per cent March 49, but
the gradual yielding has already returned
the general average of p.ices 10 shade
less than 70 per cent. practically, whe e
it was with the highest prosperity in 1892.
The output of iron furnaces June l was
296,376 tons weekly, an increase of 2,5-6
tons, making Che yield only 1,638 tons less
than at the highest point ever reached
Feb. /. But the increase Of unsold stocks
to 339, $50 tons, about $1,000 tons in May,
discloses a larger decline than was ex-
pected in the new business, upon which
nearly all the works and furnaces have
now to rely, and reports that furnaces OF
considera BILE capacity have been already
closed this month seem likely to he cor
rect Within a week or two the labor
organizations and the employers viii be
discussing new demands for higher
wages and shorter hours, and the clos
pS Of many works for lack of orde.s Will
have much influence about that time.
Prices are gradually changing, an'ira-
exc No. to $40 and Pittsburg grey forge
10 $3.50, and sales of bars are reported
there at $1.50. After the closing Of fur
naces and works has more nearly al
justed present supply to the demand, the
TACT that many large operations are held
| lack until prices have been readjus, ed
Will have its proper influence.
Cotton and Wool Markets.
Reconstruction moves slowly in cotton
| goods though few quotations are slight
| ~ reduced, the uncertain shifting in the
raw cotton market having some influence,
and the halting of exports to China on ac-
! count of the interior strife there. AS
! European manufacture is likely to be af-
| fected in the same way, the present con-
| d'Hons help those who look for lower
! prices In the goods market.
No further change appears this week in
! the wool markets, although their stagna-
ton with irregular prices for goods be-
| yond favored staples, still indicates a
downward tendency. Silk and hemp also
have gone lower, and the recent fall in
II bier helps new business.
Wheat has been advanced nearly 3
| cents, with accounts of extensive injury
to growing grain, and the exports from
Atlantic ports, flour included have been
in Two weeks of June 5937, 1877 bushels,
against 3.526S01 last year, and corn ex-
ports 5000, 462 bushels, against 5,Sl2,959 last
year
The active movements on the farms
seems to discredit many accounts of in
| jury, although receipts have been some
what smaller than last year.
failures for the first week of June were
| in amount, $2.11SSl0. of which 81, 092 $40
were in manufacturing, and 1888, 236 in
trading concerns.
Failures for the week have been 1872 in
| the United States, against 1876 last year,
and q in Canada, against IS last year.