The times. [volume] (Richmond, Va.) 1890-1903, 1894-07-28
UNCERTAINTY REMAINS.
HHAVY GOLD sxPORTs. LOW TREAS.
URY REsERvE, FALL IN WHEAT
Together with tho TsriY Uncertainty, All
Go to Make Up Duilnsss In Trade
Activity In some Branches.

NEW YORK, July Err. @. Dun &
Company's Weekly Review OF Trade to-
morrow will say;
Ihe heavy outgo of gold, the fall Of
the Treasury reserve. and the price OF
"heat TO the lowest point on record, aud
the increasing uncertainty OF the tariff
have overshadowed other features. In
some branches there has been more ac-
tVity' but In others less, because events
early this week led many TO infer that
no change Of the tariff would be made.
The internal revenue receipts on whisky
suddenly dropped more than half, and
the sales OF wool greatly Increased But
the uncertainty is not removed, aud
much Of the business done seems TO b.
In the nature OF insurance against pos
sibiity. All the year IL has been argued
that gold exports have practically ended,
but the outgo this week has been 500
OOc making the net outgO for the month
about Sl0,0D,0O0 or all explanations given
only one fits facts. with wheat at
the lowest point ever known. and moving
from the farms very freely, while I'M
ports are still restricted By doubts about
future duties. gold could not 10 out
If there were the ordinary confidence ia
the future OF enterprises here. But mucD
was done to prevent that confidence BY
legislation hostile to tenders In western
and southern States and many millions
have doubtless been called IN by foreign
loan companies and taken away. sun
more has been done by the strikers, the
depression OF manufactures, the loss 4
railroad earnings and the rapid decrease
OF the Treasury balances.
Textile Industries have been perccptibiy
stimulated, according to location.
In wOolens. the goods famine which
clothiers prepared for themselves 10y de-
ferring orders Is such that imperative ne
cessities now keep most Of the mills at
work, and purchases Of wool for immsdi-
ate use are large. But there Is no change
for the better az respects orders running
into the future, and indeed some con-
Germs have Withdrawn spring samples and
will make no effort for trade AT present;
Sales Of wool have been greatly swellei
by speculation. In the belief that wool
is not likely 10 decline I'm any event but
may advance sharply II tariff changes
fail.
tion Of Work In many central and west
ern iron mills the light demand for I'm
ished products at Chicago, and the die
appearing demand FOR most AT Pittsburg.
raises doubt whether material increase can
be expected until the tarn question IL
out of the way. The demand for sheets
Is better at Chicago. and there are nu-
merOus small orders for structural work
at Pittsburg, with rather better demand
Tor bars, but nothing like the expected
rush. At Philadelphia the tone improves
and prices are steady, but foundry busi-
ness is much depressed. and sharp compe-
ution prevents advance In finished pro-
ducts.
Failures for three weeks Of July COM
pare We'll OF course with the panic period
Of last year. commercial liabilities being
s6,3l7 600, Of which S3,bS, ,93S were Of manu-
featuring. and ssi30li Of trading concerns.
For the week the failures have been 2i9
I'm the United States. against 21) last year,
and 80 in Canada, against % for the last
year.
SLIGHT IMPROVEMENT IN THE SOUTH.
NEW YORK. July G.--Bradstreets to-
morrow will say.
Prolonged dr0ughts have Damaged corn
and other crops In Nebraska. and fears
are entertained Of like losses I'm Kan
sas. Without early rains the reduction
in the yield OF Indian corn IS expected
20 be considerable. The outlook for the
yield I'm the spring wheat States Is re-
garded as unfavorable which reacts upon
country merchants and checks demand.
Several thousand striking miners In
Ohio. Indiana, and Alabama refuse %
return TO work at rates agreed up.n IN
conference and this continues TO de-
press business throughout tributary re-
gions. Iron, steel, and other Industries
are hampered throughout the PittsbuTg
district for lack Of coke, which restricts
production In the face OF n mildly i'm
proving demand. and keeps the price of
spot bessemer pig and Dillets about a
delivery. Continued exports Of gold from
New York are regarded as an unfavorabIe
influence and there are more unfavorable
reports as 10 mercantile collections. More
serious In its dlsorganizlng effect on gen
eral business Is the continued delay In
tariff legislation, few merchants caring
% try to provide FOR prospective wants
IN view OF the uncertainty.
The other side reveals report OF moder-
ate Improvement In general trade az a
larger number Of southern cities than
last week, improvement In the outlook
for the Columbia river salmon canning
pack: increased activity In all leading
lines In San Francisco, full and regular
fruit shipments east from the Pacinc
coast and an improved demand FOR iron
and steel at ST. Louis, Pittsburg, and
other centres; practically complete re-
storation OF ordinary freight service
throughout the country; a tendency 70
buy very sparingly for fall delivery AZ
Philadelphia. Baltimore. New York, and
Boston; excellent crop prospects In most
southern states, and increasing orders
among Providence manufacturers OF dry
goods, specialties, and novelties In jewel
ry.
The spurt in demand for wool AZ
Boston and at Philadelphia Il attributed
on the one hand 10 expectation OF tarln
legislation. and the other 10 demand Dy
spectators. who believe the wool prices
had touched the lowest possible point
Heavier shipments Of merchandise for
Baltimore TO southern points were caused
by the announcement that freight rates
would advance August LIST.
From the South. Memphis Nashville.
Charleston. Augusta, Atlanta, Chatta-
nooga. Savannah, and Galveston. report %
slight improvement within the week, the
South Carolina and Texas ports adding
that favorable reports as 10 crops readers
the fall outlook encouraging.
At New orleans jObbing Is dun, but
building trades are active. furnishing emu
ployment 70 many who would otherwise
be out Of work.