The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-05-05
BUSINESS CONDITIONS GOOD.
NO INDICATION OF DISASTER IN
ANY TRADE LINE.

Reaction Now Seems to Have Been
Necessary to Continued Prosperity.
Reduction in Iron and Steel Has
Brought Out Much New Business.
Wool Manufacturers Have Been
Well supplied-EnEIish spinners'
Purchases Holding Cotton Up.
New York. May Ar. G. Dun & CO.'S
Weekly Review OF Trade tomorrow will
say:
Failure returns for April are especially
valuable because they show that there
does not exist In the most important
branches of business, the conditions which
threaten disaster. They call attention to
one line in which some curtailment had
seemed from previous returns to be In pro-
gress and has been fastened by extensive
strikes in the building trades.
The state of business has been repre-
sented to fit and used to support several
hundred theories already The simple fact
is that some reaction from the abnormal
excitement and expansion and rise of
prices last year was necessary to contln-
ued prosperity. Its duration may there
fore be expected to depend on the prompts
ness with which production and prices adj
just themselves TO actual demands Much
progress in that adjustment has been
made during the past week, with increas-
ed activity already resulting. Strikes
springing from disputes about the terms
Of work and wages for the coming year
have also made distinct progress toward
settlement.
L..
and their products has gone far enough
10 bring out much new business. At the
end of last week cut nails were reduced
As cents per key. and in tin plates and
bars, somewhat lower prices have been re-
ported. Prices for sheets have not yet
been named but In pipes and tubes there
is some yielding, with larger business In
fence and other wire since the reduction.
Not sale OF Bessemer pig is reported,
the association still asking s24 30, willis
Eastern pig Is offered at Pittsburx below
S23, and local forge is lower at $50 with
Eastern at $1g. u.s.
Chicago local coke has declined 80 cents.
ana Southern also. Eastern markets are
irregular, with growing belief that an out
put exceeding consumption will reduce
prices until the demand again EXPANDS
Ihere are large foreign contracts for pir
pending, and important sales of finished
products for export have been made. 1t
helps toward better adjustment that coke
IS quoted 81 per ton lower than month
ago. and anthracite coal has also de-
clined.
Wool and Cotton Markets.
The close of the wool year has emma
without the scarcity which some exnect-
ed. but with the average of quotations
py Coates Bros. red uced in April about
cent Sales have been small, and much
IN excess of purchaNes for consumption-
manufacturers have so far refrained. as
to show that they were much better s,n
piled six months or e. year ago than deal
ers are willing TO believe. The market
Tor goods, excepting the most favored
staples. has been so far unSettled and
irregular as 20 give small encouragement
Tor hlylnE- WOOL at current pri.es- In
terror holders are still strong, t.opiss-
that the end OF the season will bling the
end CT manufacturers stocks.
COTTON goods have also shown similar
weakness in transactions for future de-
livery and new business is narrow. I'm
I'll prospects for the new crop are more
settled, the pressure OF English spin-
ners for supplies tends strongly to hold
up prices here, though foreign mill stocks
are now heavy.
April exports of breadstuffs have been
large, both wheat and corn SURPRISING
A1at year fecoru. Aelanflc exports OF
wheat In five weeks, -four included, have
reached 11,OS0,s0S bushels, against 1914
79S last year Pacific exports, 3513. $50
bushels, against 2.090737 last year. and
corn exports. 15.573,S37, against 12740,742
last year. In spite OF conflicting stories.
the movement OF wheat from the farms
continues larger than a year ago The
price closed as Il opened, while corn de-
clined cents. All exports from New
York In four weeks have been 1874 per
cent, or over 81. 100000 larger than last
year, and with the gain of $l5.O00.OO0 in
COTTON from other ports, the months ag-s
gregate for merchandise should rise above
a hundred millions.
Imports show a small gain, but will
hardly exceed 70,00000O.
Failures for the week have been 200 In
fhe United States, againet 1853 last year:
q in Canada, against 20 last year.
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