The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-12-09
TRADE STILLN ADULLR
Many Branches Waiting on the Out
come Of the Tariff Fight.

Cotton Manufacture Doing Better
Than other Branches But the Out
look Not Manufacturers of
Wooden Goods Disappointed-Symp-
toms of Improvement in Iron and
Steel Manufacture.
New York, Dec. S.-R. C. Dun & Co.'S
weekly review of trade tomorrow will
say: Trade of all kinds is waiting.
There is no visible improvement, and on
the whole the indications are little less
satisfactory than they were a week ago.
The volume of business measured by the
clearing house returns outside Of
New York, shows decrease
of only u per cent. compared
with last year, which is encouraging,
but as the statement covers the payments
for the first of the month, it may not
correctly measure the volume of new
transactions. The reports from other
cities show a hesitating trade almoss
everywhere, with decided disposition to
wait until congress acts on the tariff
question. Hence delay and uncertainty
are likely to last for some weeks.
COTTON AND WOOL.
"Cotton manufacture does better than
other branches at present, and yet has
not a very healthy appearance. The de-
mand is not strong and the prices OF goods
are barely maintained. The disposition
to buy with great caution. and to contne
purchases to actual requirements, is more
clearly manifested than in previous
weeks.
In wooden goods the sense of disap-
pointment is very clear, and there seems
no reason to expect any decided recovery
until congress has acted on the tariff
question. Several works have stopped
production during the past week and
others are running only to fill orders,
which will soon be exhausted.
IRON AND STEEL.
I'm the iron and steel manufacture
there are symptoms of Improvement The
eastern markets are waiting, and while
one company has gone into the market as
a speculative buyer, taking about $4,000
tons. it is said, and there have been large
purchases of pipe iron also, the general
tone of the market is not improved. There
is feeling that the new steel rail combi-
nation will result in a decided decrease in
the demand for rails and also for pig iron,
and at Philadelphia and Pittsburg no i'm
provement in price is seen.
TALK OF EXPORTS OF GOLD.
"The prospect of the renewal of gold
exports caused no excitement in the
street. as the banks now hold so large a
stock of gold on hand that a really heavy
loss would not cause them any embar-
rassment. Yet it it felt that any outgo of
gold at this time would be evidence that
Europe mas been selling d large amount of
securities in this market, and there is a
feeling that such sales may easily be
pushed far enough to cause serious dis
order.
The bank reserves, amounting to $685.
1000, are the largest ever known, and
there is feeling that the accumulation
of idle money here is somewhat dangerous
to legitimate trade, but as yet there APP
pears no indication of speculative excite
ment in products or in stocks.
The increase in circulation during the
month of November was about $1,000, 900,
although there was no demand for addi-
tional currency in any of the interior
markets 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 $50
in the United States. against 271 for the
corresponding week last year and 40 in
Canada, against SO last year"
CHA EGED TO THE TARIFF.
Bradstreet's Review will say to-mor-
row:
ITO those who looked for improving
volume in the sales in staple, commercial
or manufacturing lines, the week is dis
appointing Impending radical tariff
changes, which it is proposed to put in
operation within three months, while i'm
porters and others have on hand, owing
to the prolonged trade depression, rela-
lively large stocks of foreign goods, tend
to further depression, and trade petitions
to congress are being prepared to post
pone the date of enforcing the tariff
changes.
The wooden and iron industries have
lost the signs of reviving strength visible
two weeks ago, and are practically with
out animation at prices Current bust
ness news reports fifteen industrial estab-
lishments shut down this week, twenty
nine reducing wages or forces, or both,
and forty resuming work, generally on
part time. Two strikes for higher wages
are reported, two strikes are ended and
two threatened. Collections are poor and
the iron and steel industries are as dull as
they have been.
louisville iron manufacturers report
more orders but at lower prices, and shoe
manufacturers also state that the demand
is good.
General trade shows some improve
ment at Augusta, gagged by the demand
for cotton goods, although grOcers are
| pushing collections rather than sales.
mobile reports collections satisfactory
and an increase in the volume of trade.
Texas cities specify easier collections
| The volume of trade is somewhat larger
at Houston, is good at Dallas, and better
than expected at Galveston, particularly
for clothing and hardware
General trade is quiet at Charleston
particularly in rice. Fertilizers are
selling at about two-thirds their usua
rate.
Business is quiet in most lines a.
Nashville, as at Memphis, except il
| Christmas specialities.
There is only fair trade at Savan
nah, naval stores being the only staple
| showing firmness in O1,ice