The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1893-12-05
TRADE HAS HALTED.
THE IMPROVEMENT CHECKED BY
TARIFF UNCERTAINTIES.

| AW6itthH u SIul
In New York With Little Demand for it
Our Great Exports Paying Debts Due in
Europe.
By reiegra II TO The Daily News
| New ,YoRK, Dec. 1.-Dun's review
will say 1t can not be said that bus.
mess during the past week has grown
better or worse. For some days the
gain in demand and in transactions
winch had been previously noticed
| evidently continued. But afterwartl
tariff uncertainties were thought to
affect some branches of business and
whatever the cause, there was clearly
less trade. Money was everywhere
ebundant with rates comparatively low
apd the commercial demand was re-
markably small while the demand for
speculation appeared to be increasing.
Reports of different branches of bust
ness from different localities mentioned
tariff uncertainties as the cause, but
1T will take some time to determine
whether the general tendency toward
improvement has been checked or to
what extent. Cotton is shade lower
as receipts from the plantations con-
tinue to exceed those Of last year, in
spite of the very positive estimates OF
a short yield; and the average guesses
by operators on the New Orleans cot
ton exchange is over 7O0-,0 greater
than the government estimate. The
| stocks of American cotton in sight are
80 large that they forbid any rise in
prices. Industries are waiting with
visible uncertainty regarding the out
come of legislation and belief that the
pending tariff bill will or will not be
| passed, affects action as much as the
judgments In regard to it's effect if
passed.
At present the iron industry shows
no gain in the world with the demand
for pig iron not urgent and Bessemer
iron little lower, with no sales of
rails at the combination price and
slightly lower prices for some finished
products and rather scanty demand
for any. Ir is questionable whether
the working force employed is larger
than it was a week ago. The cotton
manufacturers enjoy a decided i'm
provement because the market is in
absolute need of more goods, but
there is hardly any quotable change in
prices.
The vast accumulation of idle
money seems to stimulate speculation,
but it is not good symptom. 1t
shows remarkable shrinkage in the
volume of trade. Reports from all
quarters make 1T clear that the demand
for money is unusually light for the
season. Rates are exceptionally
low and this helps to re-
duce the movement of gold which
the state of foreign trade now
for four weeks from New York amount
to $50, 1850 against $29.S71,1 ,173,
while the decrease in imports is over
$19,O00,0O0 or 3S 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
Apparently this country is paying off
with its surplus products loans
amounting to many millions which
were offered in Europe to avert great
disasters last summer. Hence it is
that the condition of the treasury COM
mands attention with it's total cash re-
serve down to $0G,OOO,OOO and it's
available gold only $S2,OO0,OO0. Fail
ures in the United States for the week
numbered 27s against 236 for the same
week last year and in Canada forty
eight against thirty-three last year.
Bradstreet's tomorrow will say: The
thanksgiving holiday cut into the bus
mess week, but it was not encourag-
ing when the volume of general trade
is considered, bank clearings for this
week aggregating fully II per cent.
less than last week and being 43 per
cent. smaller than the total of the
same week one year ago which was
Thanksgiving week. Reports from some
eastern industrial centres complain of
manufacturers suspending operations
to await the outcome of the proposition
to enact and put in operation new
tariff law within three months. Wool
has receded from the improvement of
last week to await, as reported, the
outcome Of free wool. Cotton mills in
New England are meeting the hand to
mouth inquiry, but the tone of the
LidIkCC 10 DoIIcT Ou aCCOuuC OI Cne re-
cent auction at New York on which
| belief rests that bottom prices have
been touched. Trade in most lines at
Baltimore in November Ianged from 8
to 25 per cent smaller than one year
J ago. The clothing trade is unfavorable
I collections are slower. Some orders
J have been countermanded. Dry goods
T, dealers are beginning to take account
of stock. In Charleston and Chattana.
nooga there have been NO changes in
commercial or industrial circles. AT
Atlanta trade is quiet and the demand
for dry goods is better. AT Augusta
cotton freights are in fair demand but
at low prices. Business is quiet at Sa
vannah where there is light demand
for naval stores. Nashville reports fail
degree of activity and better collec.
tions. Idle industries are starting up
A slight gain is also reported from
Memphis. General trade at Mobile i,
quiet, but lumber mills in the vicinit,
are dong we'll. The volume of trad,
at New Orleans is smaller for Novem
Der than for October, but at Littl,
Rock trade is reported fair for tn,
season.
overhauling the Now Tariff Bill.