The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-05-26
Trade QUIET AND PRICES LOW.
DROP IN COTTON HAS WEAKENED
OTHER QUOTATIONS.

From Reports as a whole Are Good
Exeeot for Nheat-Most Favorable
Renort for the Week Is From the
Grocery Business-DeadlOck Stiu
Il continues in Iron and SteeI-Ex-
mort BUSINESS, However, Holds
a This Trade Up.
Fl New York, May 25.-Bradstreet's will
&kay tomorrow:
81 Trade is, if anything, quieter and prices
are lower than a week ago, while efforts
howard a readjustment of productive ca
zpacfty to present conditions are noted in
XsegeraI lines of industry, notable iron and
Z steel and lumber.
Unsettled conditions in the cotton trade
and large failure, due mainly to over
5staying the bull side of this staple, has
blended TO weaken quotations in several
Hines of speculative business. Rather bet
ter crop reports and the backward demand
for cotton goods are of course, partly re-
splnsible for the sharp break, but statis-
.ucally the staple remains very strong.
Crop reports are. as a whole, good, ex
cept for wheat. AS regard the latter, it
may be said that in the Northwest some
much needed rains have fallen, but the
claim is made that more moisture is need
ed Winter wheat prospects in the South
west remain good, but foreign inquiry has
been on a reduced scale. Practically the
entire corn crop has been planted under
favorable conditions and reports from the
cat crop are likewise good, but slight
shading of quotations, due to backward
exports business is to be reported for
these cereals. Hog products are also low
er and the same is true of cheese, petrol
cum, hides and leather, copper, and a
number of iron and steel products.
Grocery business Good.
Perhaps the most favorable report for
the week as to distributive trade comes
from the grocery business, in which the
sharp advance in refined sugar, due, it is
claimed, to the enhanced price of the raw
material and not to any settlement of the
trade war has stimulated demand in other
Ines, notably coffee, which is also higher
on the week
Advices from the dry goods trade are
Of backward demand at retail, affecting
orders in many lines, but cotton goods pro-
duction is still heavily sold ahead and a
marked decline in raw material will have
to occur before much effect is exercised
upon finished products.
Wool is weaker, and manufacturers are
sui holding off. The boot and shoe mar
Aet Is dull, with manufacturers firm, but
with jobbers asking for lower prices.
Lumber is, on the whole, weaker partly
owing to the unsettled conditions in the
building trade and partly to the feeling
mat prices have been pushed too high,
ana this feeling is likewise true of a num-
Der of other lines.
In iron and steel the deadlock still con-
unues buyers and sells being apart,
"hle the drift of values where business
Is actually accomplished is toward a low
ef range Nominally, Bessemer pig and
s'eel blllets are unchanged, and this is
correct as far as large producers are con-
ceined, but outside offers are at consid-
cradle reductions from quoted values.
notable weakness exists in the prices for
IRON and steel bars, for plates and for
some grades of Eastern foundry iron. AL
most the sole supporting feature is the
strength of export business, but late adj
wees seem to indicate thar foreign mar
hr'S may follow those of America, toward
lower range. Almost alone among iron
ana steel products, structural material is
HrIn, and much is hoped for in the direc-
'i VI new business. Inc weakness IN
case iron pipe is inducing some curtail-
ment Of production, notably at the South.
Shipments of Cereals.
!, Wheat including -four, shipments for
.ne week, aggregate S,69S,963 bushels.
Ssainst jl7S, t22 bushels last week, 719S319
pdsnels in the corresponding week of 1880
roy. lib bushels In 1885, 2,)Sl.2go bushels
n lsyi, and 2064, 953 bushels in 1896. Since
ouF l. this season, the exports Of wheat
aa5sEregaie 1888, 456 bushels, against 203,
to'S19 bushels last year, and 21o 1885,
bushels in 1S97-'9S
corn exports for the week, i,374145 bush
eis against 3,437 1874 bushels last week, g.
S9,oiS bushels in this week year ago.
T,o,oet4ol bushels in 1898; 2,1S5,933 bushels in
wv and 1,720S93 bushels in 1896 Since
Tu'y this season corn exports aggregat e
!1o''o5S o4 bushels, against Isl, SIS, 039 bush
e.a curing the same period a year aga
"gp lt5lI ,595 bushels in 1897-'9S.
CO. b usiness failures for the week number
,el IN the United States, compared with
DO, asst week, and 1853 last year.
business failures in Canada number for
we week II, as compared with "a last
week, and % last vaar