The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-12-02
WAITING ON THE TARIFF.
Men in the Industries Lying Low
Until Congress Acts.

Cotton a Shade Lower on Account
of Heavy Receipts from the Planta-
tions-Cotton Mills More Active,
Because Of an Absolute Need for
Goods Domestic Exports Going to
Balance American Loans in Europe.
New York. Dec 1-R. q. Dun & Cos.
weekly review of trade tomorrow will
say:
1t cannot be said that business during
the past week has grown better or worse.
For some days the gain in demand aud in
transactions which had been previously
noticed evidently continued. But after
wards tariff uncertainties were thought
to affect some branches of business, and
whatever the causes, the state of trade
was less clear. Money was everywhere
abundant with rates comparatively low,
and the commercial demand was remark
ably small. whil> the demand for specu-
Iative uses appeared to be increasing.
.Rerorts of different branches of trade
and from different cities frequently
mention tariff uncertainties as a cause OF
natural hesitancy but it will take some
time to determine whether the general
tendency toward Improvement has been
checked or 10 what extent.
COTTON a SHADE LOWER.
Cotton is a shade lower, as the re-
ceipts from the plantations continue to
exceed those of last year In spite Of the
very positive estimates of a short yield,
the avera ge of the guesses by operators
on the New Orleans cotton exchange is
over 100000 bales greater than the govern
meut estimate The stocks of American
cotton in sight are again so large that
they retard any rise in prices.
The industries are waiting with visi-
bic uncertainty regarding the outcome of
legislation. and beliefs that the pending
tariff bill Will or will not be passed affect
action as much as the varying judgments
in regard TO It's effect passed. At present
the iudusrials show no gain.
THE demand for pig irOnis not urgent,
and BessemeT iron is little lower at
Pittsburg. with no sales of rails at the
combination price, and with slightly
lower prices for some finished products,
and a rather scanty demand for any. 1t
is questionable whether the working
force employed is larger than it was a
week ago.
COTTON MANUFACTURE.
Cotton manufacture enjoys decided
improvement, because the trade is in alb
solute need of more goods, but there is
hardly and OUOtable change in prices.
THE vast accumulation of idle money
tends to stimulate speculation. but it is
not good symptom. 1t shows remark
able shPinkagC in the volume of trade. and
the reports from all quarters make it
clear that the demand for money is unus-
ually light for the season. Rates are eX-
ceptionaly low here, and this helps to
prevent the movement of gold, which the
state of foreign trade might now naturally
cause.
DOMESTIC EXPORTS.
S'The domestic exports for four weeks
from New YORK amount in value to $50
1850, against e29, Sl,l13 while the de-
crease in imports is over SIS. 0OO, 600 or IS
per cent. for the four weeks; so that the
excess of exports for the whole country
must be large. But exchange bills against
products are comparatively scarce. No
gold comes this way. and heavy
shipments Of silver are made to
London, the price there declining, al
though India is taking more than
last year. Apparently this country is
paying of, with its surplus products, debts
amounting to many millions, which were
erected in Europe to avert great diSas-
tiers last summer. Hence it is that the
condition Of the treasury demands attcn-
ton. with its total cash reserve down TO
S9j,0o0,0JO and the available gold only
So. 100000
The failures during the past week
mum bered rs, against 23G for the same
week last year, and in Canada As against
80 last year
LOSSES BY THE HOLIDAY.
Bradstreets tomorrow will say: The
banks giving a holiday cut into the bust
less week harshly, when the volume of
general trade is considered, the bank
clearin-s for this week aggregatng fully
Il per cent less than last week and A3
per cent. less than the Total in the like
week one year ago that following Thanks
giving week.
Reports from some eastern industrial
CPFltprS pnmIl9ip of checked OOpra tiopG