The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-04-12
COTTON STILL BULLISH.
LEADS ALL OTHER STAPLES IN
THIS RESPECT.

Cotton Textiles Are Higher, Due in
Part to Higher Price of Staple and
Also TO Recent Increase I'm Wages
to $4,000 EmpIOyes-Bradstree
Reports the General Trade Com
ditiOns as Very SntisfactOry-Win
ter wheat Crop Prospects Are for
n Yield of 40O,OOO,O 900 Bushels.
New York, April 11.-Bradstreet's to-
morrow will say:
While cross currents in trade make
it difficult to characterize the general
trade situation the country over, APP
pearances would indicate that the
check given distributive trade by re-
dictionary weather, crop uncertainties
and additional friction in industrial
circles is of a transitory character.
Bank clearings. all things considered.
are of large volume, railroad earnings
reports to Bradstreet's point to con-
tinued increases over the same period
a year ago. and especial activity is
noted in leading manufacturing lines,
principally iron and steel, lumber, cot
ton goods coal mining machinery MAX
ing and host of lesser industries.
Jobbing distribution at the
central west and at leading
Eastern centers note a further toning
down, but in the spring wheat sections
reports are of undiminished activity.
Southwestern trade reports continue of
a cheerful nature. At industrial CEN
tiers in the South. iron, coal and coke
production is active. and while the
backward Weather conditions are cred
tied with limiting demand in agricui-
tural sections, the strength of cotton
prices leads to a more hopeful feeling
there, not entirely warranting the pre-
dictions of reduced acreage in that
staple crop. Despite the lowering n
the general average of wheat as a re-
suit of the dry weather of last fall
and the early winter, indicated by the
government report, winter wheat crop
prospects are still for a crop in excess
of 400,000000 bushels and about equal,
in fact. to the indicated final out-turn
last year. A large acreage is indicat-
ed in oats and that crop seems to be
progressing well. AS to the corn crop,
little doubt exists that a large area
will be planted.
Cotton continued to lead the staples
in the matter of bullish feeling. Cotton
goods have strengthened in tone, partly
in result of the raw product and partly
on the realization of the fact that in
creased wages for $4,000 employees in
volve higher prices for the finished pro-
duct
Among the industries, iron and steel
are still exemplars of activity. Prices
of Bessemer pig iron have moved up
ward this week on the announcement
that very large sales for delivery be-
tween October. 1902, and April /, 1903,
aggregating 225,000 tons have been
closed. Foundry and forge iron are
also firmer.
Cereal prices moved within narrow
limits early, pending the publication
Of the government report, some
strength being impaired by reports OF
better export demand and cold wealth
er interfering with the growing crop,
but this strength disappeared later, and
the report itself. though claimed to be
a surprise, exercised little effect, the
net changes for the week being very
slight Hog products strengthened
slightly on the small run Of hogs and
also on increased demands by packers
Business failures number 1872 as
against 225 in this week last year
In Canada they number 26 as against
rs in this week a year ago.