Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-12-09
DUN AND BRADSTREET.
Business of All Kinds Is Awaiting the
Action of Congress.

Business of All Kinds Is Awaiting the
Action OF Congress.
NEW YORK, December S.-R. G. Dun
& Co.'S weekly review of trade tomorrow
There is no visible Improvement, and on
the whole the indications are a little less
{ satisfactory than they were q week ago.
The volume OF business, measured by
| clearing house returns outside OF New
York, shows a decrease Of only II per
| cent. compared with last year. which Is
| encouraging. but as the statement covers
! the payments the first of the month IL
may not correctly measure the volume of
| new transactions. The reports from
other cities show hesitating trade al
| most everywhere. with decided disposl-
tion TO wait until Congress has acted on
! the tariff question. Hence the delay and
the uncertainty are likely to last for some
| weeks.
| 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 oil
| goods are barely maintained. The dispo-
| sition TO buy with great caution, and
| to cOnfine purchases TO actual require
| ments, is more clearly manifested than In
| previous weeks.
In woollen goods the sense of disap-
| polntment Is very clear, and there seems
| no reason to expect any decided recovery
| until Congress has acted on the tariit
| question. Several works have stopped
| production during the past week, and
1 others are running only TO I'LL ORDERS
| which will soon be exhausted.
1 In iron and steel manufacture there
are symptoms of Improvement. The east
ern markets are waiting. and while one
| company has gone into the market as a
| speculative buyer. taking about SWo
| tons. IL is said, and there have been large
| purchases Of pipe-irons also. the general
| tone OF the market is not improved.
There ia a feeling that the new steel-raii
| combination will result In a decided de-
crease I'm the demand for rails and also
| for pig-iron, and at Philadelphia ana
Pittsburg no improvement in prices Is
| seen.
| The prospect of a renewal OF gold ex-
| ports causes no excitement in the street.
| as the banks now hold so large stock
of gold on hand that really heavy loss
would not cause them any embarrass-
ment. Yet 1t is felt that any outgo OF
| gold at this time would be evidence that
| Europe has been selling a large amount
| OF securities in this market and there Is
| a feeling that such sales may easily De
pushed far enough to cause serious dis
order.
The bank reserves, amounting to An,-
| oOO 900. are the largest ever known, and
there is a feeling that the accumulation
| Of idle money here Is somewhat danger
1 GUS to legitimate trade. but ar yet there
appears no indication OF speculative eX-
| citement in produce or stocks. The IN
crease in circulation during the month
| of November was about $S000,0OO, al
though there was 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 1856
in the United States. against 2n for the
corresponding week last year, and AZ In
Canada, against S6 last year.
Bradstreet's tomorrow will say: To
those who looked for improving volumes
of sales in staple commercial, or manu-
featuring lines the week is disappointing.
The impending radical changes which 1t
is proposed to put in operation WITHIN
three months, while importers and others
have on hand, owing TO the prolonged
trade depression relatively large stocks
of foreign goods tends 10 further de-
preston, and trade petitions to Congress
are being prepared 10 postpone the date
of enforcing tariff changes.
The woollen and iron industries have
| lost the signs Of reviVing strength visible
two weeks ago. and are practically with
out animation at bottom prices. Current
news reports fifteen Industrial establish
ments shut down this week, twenty-nine
reducing wages or forces, or both. ana
forty resuming work, generally on part
time. Two strikes for higher wages are
reported, two strikes are ended. and two
! threatened Collections are poor, ana 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 demand Is
good.
General trade shows some Improvement
AT Augusta, Ga gauged by the demand
| for cotton goods. although grocers are
pushing collections rather than sales
Mobile reports collections satisfactory
with an increase I'm 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 I'm rice Fertilizers are sell
| ing at about two-thirds their usual rate.
Business ~ QuFt III HiOst HI'eS AZ ''"'"
Vile. as at Memphis, except in Christmas
specialties.
There is only a fair trade at Savannah.
naval stores being the only staples show
ing hrmness in prices. Dulness Is
reported in nearly all lines at Atlanta,
where merchants are showing smaller
stocks of Christmas goods.
Country trade at birmingham has I'M
nroved. as at New Orleans. where collec-
tions are slow. Sugar-making In Louisi-
ana continues active.