The morning call., 1894-07-28
Doing Old Business.

NEW YORK, July 27.-R. q. Dun q Co.'s Weekly
Review of Trade which issues tomorrow. will
say: he heavy outgo OF gold, the fall OF the
treasury reserve and of the price of wheat TO the
lowest point record aud the increasing uncer-
tainty about the tariff have entirely overs hadowed
other industries. Business delayed for months
by two great strikes crowds the railways and
swells the retur MS and gives the impression or a
revival in business. But it is not yet clear how
far there is an increase in new traffic distin-
gUished from that which has been merely block
AIDED or deferred. In some branches there has
been more activity, but in others less, because
events early this week led many to infer that no
change of riff would be made. The internal
revenue receipts whisky suddenly dropped
more than half, and sales Of wool were greatly in
crossed; but the uncertainty is not removed, and
mucn OF the business done seems TO be in the na-
ture or insurance against poss1Ollltles wheat
has found in the lowest depths deeper one STILL
and has sold below 55c, making the monthly aver
age at New ! orK the lowest ever known.
Western receipts have been 5,4o5,S74 against
3.l2g.295 bushels last year in part because of de-
layed shipments, but the movement from the
farms has been neavy while Atlantic exports have
been only l5l1 ,6O4 bushels, against 2,O67,U5O
last year.
Corn was stronger with accounts OF in Jury to
parts of the crop aud the exports are trifiug.
Cotton declined sixteenth to 7c, though
ports count for nothing In comparison with enor-
nous sihle stocks. Textile industries have been
percepliblv stimu ated according dealers by the
dsagreements which many suppose may prevent
change of the tariff. and there has been more buy
ing OF cotton gOoue Win niSner prices Ior
a few, notwithstanding the closing OF some I'm
portsnt mills. The stock of such goods is on the
whole quite large.
In woolens the goods famine which clothers
prepared for themselves by deferring orders Is
such that imperative necessities now keep most
OF the mills al work and purchases OF wool for i'm
mediate use are large But there IS o change for
the better as respects orders running into the
future and indeed some concerns have been with
drawing spring samples on which very low prices
had been fixed and will make no effort for trade
at present Sales of wool have been greatly
aDRpulAtiOu ig
not likely to decline in any event and will advance
sharply If tariff changes fail. Sales for the week
9, 034 100, against "a ,60O,5O0 last year. In
tour weeks OF July sales have Deen 22,359.2S5
pounds. against l0696,900 in 1898. While
scarcity OF coke delays resumption of work in
many central and Western iron mills the light in-
qulry for finished products at Chicago and the
disappointing demand for most of Pittsburg
raises doubt whether material increase can,be ex-
pected until the tariff question Is cut OF the way
The demand for sheets is better at Chicago, and
there numerous small riders for structural
work at PitIsburg, with rather better demand for
bars but nothing like the expected rush.
For the week failures have been 249 in the
United States. against 3bS last wear.