The times. [volume] (Richmond, Va.) 1890-1903, 1893-12-09

TO cOniine purchases 70 actual require
! ments. IS more clearly manifested than
IN previous weeks Iii woolen goods the
sense OF disappointment Is very clear
and there seems no reason 70 expect any
decided rally until Congress has acted
on the tariff question. Several works
have stoned production during the past
week. and others are running only to
iii orders. which Will soon be exhaust
ed.
Inproyement IN Iron and steel.
In the iron and steel manufacturing
trade are symptoms OF Improvement. The
eastern markets are waiting, and while
one company has gone into the market
as a speculative buyer, taking about
Is. 900 tons. IL is said, and there nave been
large purchases Of pig irons also, the gene
raj tone Of the market Is not improved.
There is a feeling that the new steel rail
commission will result in a decided de-
crease in the deSand for rails and also
for pig iron, and perhaps at Pit,sburg no
improyem ent in price Is seen.
The prospect Of a renewal OF gold ex-
ports causes no exc'loment In the stock
market, AS banks now hold 80 large a
stock Of gold on hand that a really heavy
loss would not cause them any embarrass-
ment. Yet il is felt that any Outgo Of
gold az this time would be evidence that
Europe has been selling large amount
OF securities in this market ana there is
"a feeling that such sales may easily be
pushed far enough 90 cause serious dis
order. The bank reserves amounting TO
S9s0O0O00, are the largest ever known,
and there is feeling that the accumula-
tion OF idle money here Is somewhat
dangerous To legitimate trade. but as yet
there appears no indication OF speculative
excitement in products or stocks.
The increase in circulation during the
month Of November was about 100000.
although there wa no demand for addi-
tional currency in any Of the interior mar
kets. and the evidence Is clear that the
supply OF currency is far in excess Of the
needs OF business.
The failures for the week number SS6
I'm the United States. against III for the
corresponding week last year. and 42 in
Canada, against % last year.
To Delay the Date for Tariff Changes.
Bradstreets tomorrow will say: "The
looked for Improvement IN volume of
sales in staple. market or manufacturing
lines, this week is disappointing. Inn
pending radical tariff changes. which it
Is proposed 90 put in operation within
have ON hand. owing % prolonged trade
depression. relative large stocks OF
foreign goods. tend 10 further depression.
and trade petitions 10 Congress arc being
prepared 10 postpone the date OF en-
forcing tariff changes. W0Olon and iron
industries nave lost the signs 0f reviving
strength visible two weeks ago and are
practically without animation at bottom
prices.
Current business news reports fifteen
industrial establishments shut down this
week. twenty-nine reducing wages or
forces. or both. and forty resumiug work.
generally on part time. TWO strikes for
higher wages are reported, two strikes
are ended and two threatened COllec-
tions are poor. and the iron and steel
Industries are as dali as they have been.
Reports From southern Points.
Louisville iron manufacturers report
more orders. but at lower prices. and shoe
manufacturer also state that the demand
Is good. General trade shows some i'm
prOvement at Augusta. Ga, gauged by
demand for cotton goods. although gro
GERS are pushing collections rather than
sales. Mobile reports collections good and
an Increases I'm volumci OF trade. Texas
cities specify easier collections. The
volume OF trade is somewhat larger at
Houston. and is good NJ Dallas, and bet
ter than expected at Galveston, especially
for clothing and hardware. General trade
is quiet at Charleston. particularly I'm
rice Fertilizers are selling at about two
thirds their usual rate. Business IS quiet
I'm most lines at Nashville. as AT Memphis.
except in Christmas specialties. There
is only a fair trade az Savannah, naval
stores being the only staple frmness IN
4 q. Ill
lines at Atlanta, where merchants are
showing smaller stocks of Christmas
goods Country trade M Birmingham has
improved, as az New Orleans. where COL
lecti0ns are slow Sugar-mdking I'm Lou
isiana continues active.