The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1894-07-21
THE STATE OF TRADE.

Effects of the Strikes and Tariff Unoer-
tainty Not Worn or.
NEW York, July Cor. G. Dun &
Co.'s weekly review of trade, which Is.
sues tomorrow, will say:
The effects of the two great strikes
have not entirely worn off, and mean
while disagreement between the houses
of congress has made tariff uncertainties
more distinct and impressive. 1t follows
that the customary tests of the condition
OF business are less instructive than
usual. The financial situation ia come.
what less feeble, because the exports OF
gold have been resumed and are 81, 30O,-
600 for the week. but the treasury re-
ceipts have been $2,046. 39l for GUS
toms, against s2,951. 574 laet year,
and $7,474, 653 internal revenue, against
$2979,5lS last year. The extraordinary
payments to anticipate the increase OF
the tax alone on whisky are rapidly
locking up large amount of cash and
taking from the government the ex-
pected increase in revenue, while the
current loss in customs and receipts is
largely due to the postponement OF i'm
ports, in expectation of lower duties
hereafter. Thus, the treasury has been
gaining in balance at the expense OF
some loss in revenue hereafter.
Wheat has been skating on thin ice,
with chance of breaking through and
making the lowest record ever Known,
and has declined cents for the week.
With the railroads generally blocked in
tha what belt. ii ia a satisfying ind ca-
two-thirde of last year-2,2I,9 1I push
els, against 3.02S, 1929 year ago-while
the exports from Atlantic ports are in
signifcant-only Az, 402 against 1885,
627 last year. The enormous visible sup
ply has less actual weight in the market
than the prevalent conviction that the
government estimates of the yield are
widely erroneous.
Corn has advanced a ehade with no
satisfactory reason, Tor the prospect IL
excellent for large yield.
A great speculation In oats has begun
to liquidate with the customary loases
to the wise men who know all about it.
Cotton has declined q fraction and all
indications point to a material increase
OF yield.
Although there was an increase dur
ing the month of June of nearly third
in the production of pigiron. and the
consump tion in the manufactures was
nearly 10000 tons per week greater than
the output OF the furnace. it ia question.
able whether any further improvement t
has yet occurred in July. Many OF the
western establishments were stopped
because the blockade OF the railroads
cut off their supplies Of fuel, and have
not yet ventured to resume. Others
west of Pittsburg have been inactive
because the coke strike continues and
the limited production is scarcely sufii :
cient for the needs Of works near at
hand.
Besides ell other endorsements
there is remarkable marrow ness of de-
mand for finished productions. In steel
rails the official statement elbows deliy-
cries of only 100000 tons for the first
half of 1894. against ISL, 1854 tons for the
first half of last year.
The most hopeful sign noted this week
is that failures continue comparatively
small and not very important. The ag.
gregate OF liabilities for this IL days end :
ing July 18th was $780, o6, of which
$l,4o9,S2l was of manufacturing and
$l,46S, 2O4 of trading concerns, which is
decidedly below the average for the past
half year. The failures this week have
been ga, against 467 last year, and A
in Canada, against rs last year.