The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-08-11
THE TRIALS OF TRADE
Under Continual Changes in the
Prospects for a Tariff.

r. G. Dun g. Co.'s Weekly Review
Shows an Unnatural State of Things
in Existing Conditions of Uncer-
tainty-The Volume of Business
Larger Than is Warranted, Although
Present Indications are Very Unre-
hable-Gold Exports and the Treas
ury Reserve.
New York, Aug. lO.-R. G. Dun & Co.'S
weekly reyiew of trade will say to-mOr-
row:
with changes every hour in the pros
poets about the tariff, and a decision ex-
/ pected every day, business has unpleas-
autly resem bled gambling. Orders and
| purchases have been largely based upon
! individual opinions regarding the legisla-
| tive outcome, and a vast amount of busi-
| ness has been deferred because the de-
! cision was yet in The future.
The accommodating demand which has
stimulated trading and manufacturing
within the past week or two represents,
to great extent, needs which have been
! postponed waiting for a settlement, but
| can be postponed no longer. Thus, both
! the rush of deferred business in many
lines, and the scantiness of new orders
reaching into the future, reflect an un-
natural state of things which cannot be
expected to continue, and, while tie
| volume of business is larger than the ex-
listing condition of uncertainty warrants
it is, in a sense, but shadow of the larger
business which should come with re-
moval of uncertainty.
~, no IN,
dicatious and conditions are of compara-
| lively little value,
Gold exports have practically ceased
for a time, with the settlements for most
| of the 900 900, 600 pounds of sugar imported
| within the past two months, and the
| treasury officials are more hopeful, count
| ing upon larger receipts on account of
| whisky. Low as the gold reserve is,
| there appears slight gain, and with ces-
saJion of gold exports, the improve
| ment should be considerable during the
! fall. Whether under old or new duties,
| imports and customs revenue Will natur-
ally be large for some time There has
| appeared of late some demand for gold
| from many interior banks, not in large
| amounts, but in aggregate enough to IN
| dicate some nervousness OF feeling. The
volume of commercial loans is increasing,
| though moderately. but in manufacturing
|
have been expected.
The iron and steel manufacture re
cords a great increase of nearly 10000
tons in weekly output in July and the
production is ll5,5b6 tons weekly, about
/ ! 900 tons less than iu April, but 5000
tons more than year ago. when the pros
tratiOn had nearly reached its worst.
Prices sustain this view, having
changed only in the direction
of weakness and the disappointing
demand for finished products is still the
main factor. The volume of domestic
business through clearing houses is AZ
per cent. smaller than a year ago and
22S per cent. smaller than in 1892 The
earnings of railroads reported for July
are 207 per cent less than last year, with
/ a larger decrease on granger, other west-
| ern, southwestern and Pacihc roads.
"tailures for the five weeks ending
| Aug. / showed liabilities Sll l44, ,7l3, of
which S5,626,54 were of manufacturing
and 1920, ,241 of trading concerns. The
| failures during the past week have been
25l in the United States, against 304 last
year, and 81 in Canada, against % last
year"
BRADSTREEp'S WEEKLY STATEMENT.
Bradstreet will say tomorrow: "Eyi-
dence continues to accumulate that the
| earlier portion of July witnessed the low
est point in the ebb of the commercial
tide, in the reaction after the moderate
| revival in the spring. July bank clear
| ings this year furnished a list of twenty
nine cities with larger aggregates than
last year, while the June report fur
nished only eighteen cities with totals
larger than in June year age.
''The practical cessation of various
severe industrial disturbances of the year
! has emphasized the tendency to improve
ment reported by telegraph from leading
manufacturing and commercial centePs
this week A further indication of the
tendency to improvement is seen in the
! week S advance of 50centS per ton for steel
billets, and in the fact that the domestic
wool market to-day is more in favor Of the
seller than they have been for year and
that wool is firm at the , cents advance
scored in the last few weeks.
The New York stock market is strong
in tone on renewed expectations of a tariff
settlement, with the unexpected improve
ment in railroad earnings, and the stop
/ ping of gold exports as additional factors.
Southern railroad shares attract in
creased attention and favor from the rel
atively good conditions in that section.
Boston reports Massachusetts cotton
manufacturers find business unsatsfac-
| tory, but manufacturers OF mems wear
woolens report products moving freely.
! Chattanooga advices are that groceries are
/ moving freely with collections fair, while
! in Atlanta jobbers in nearly all lines re-
/ port more active shipments, although
rains have damaged the crops somewhat.
Favorable weather, good crop pros
/ poets and a bright outlook for business
1 characterize the situation at Augusta and
I Jacksonville, Fla Wholesale trade has
expanded. A fairly good demand is re-
/ ported from Savannah, and although
/ there is no Improvement at Memphis, the
/ outlook is more encouraging.
"South Carolina crops have been dam
aged by rains, but Charleston reports
/ lumber and naval stores markets more
active Neither Birmingham nor New
! Orleans advices contain news Of improve
! ment In demand dullness chAracteriling
the situation 40 both places. and at Gal
weston trade is reported in dry goods and
notions very slack.