The Savannah morning news., 1902-07-19
THE BUSINESS SITUATION.
GOOD, SAYS BRADsTREET's, IN
SPITE OF DRAWBACKS.

favorable Reports From All Lines
and Easy Money Make for Optim-
ism and Speculation Railway
earnings for June Increased and
the Iron and Steel People Continue
10 Enjoy a Remarkable Prosperity.
waiting Market for Cotton With
better Inquiry for Print Cloths.
New York, July 1S.-Bradstreets to-
borrow will say:
Weather, crop and industrial devel-
and coupled with the greater ease of
money. make for an optimistic feeling
in trade and speculation. AS stated
some time ago and confirmed by re-
cent development, the future seems
more and more secure, but the imme-
date present does not in all instances
present so satisfactory an appearance
warmer weather has continued to help
retail distribution, but has not in all
cases made UP for the disadvantages
caused by the heretofore backward
season. With few exceptions summer
resort business has not equalled ex-
pectations. Railway earnings are fiat
ferng, June reports on nearly 100, 900
miles of road showing an aggregate
gain of per cent. on last year.
The demand for finished products of
iron and steel has improved, and lum-
Der seems to be recovering from the
temporary depression. The shoe trade,
and naturally hides and leather, here
tofore backward, have begun to show
a favorable side, and the strength of
wool and wooden goods is also more no.
tioeable. The Eastern fan jobbing trade
in dry goods is not expected to set in
quite as early as a year ago.
Good growing weather is reported
throughout the country and corn and
cotton reports are generally more ia
vorable. The Southern peach yield has
been large and fruits generally have
done well.
Pig Iron Very Scarce.
Iron and steel trade conditions are
surprisingly good, to none more so
than the Manufacturers themselves.
who at the middle of July find their
output for the last half of the year
practically booked. The scarcity of
pig iron amounts to something ap-
preaching a famine, owing to- restrict
ed supplies of fuel causing shut-downs
of numerous furnaces. Numerous or
ders for pig iron for the first half of
next year have been booked both by
Northern and Southern furnaces. The
position of the latter has been much
improved by the settlement of the
coal miners strike in the Birmingham
district. Heavy sales of finished mate
rial are reported at Chicago and Pitts
burg this week. Bar iron, structural
material, rails and, in fact. all of the
heavier forms note special activity.
Implement manufacturers have been
free buyers. Hardware has been ex-
ceptionally active, builders material
leading Some Western shovel manu-
facturers report an unprecedented
output and sale of this class of ma
terial. Machinery, saws and stoves
are active at the West. Prices note
few changes and are at the top in
practically all lines.
Wooden goods are still quiet at the
East, but the reports as to the cloth
ing business received from Western
and Southern manufacturers indicate
a good business. Wool is strengthen
ing. Eastern quotations are u cent
higher and the tone is more optinis-
tic. in this trade, helped as it is by
frmer prices in London and reported
drought in Australia.
1t has been a waiting market for cot
ton, the crop position not being as yet
clearly defined enough to induce new
commitments. 4 better tone is noted
in the manufacturing branch, partic-
ularly in print cloths which are said
10 be in increased inquiry at Fall
River.
The industrial situation is better
than it has been for some time past.
Business failures in the United States
number ia, against 1876 last week. In
Canada they were II. against % last
week