Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-07-28
THE BUSINESS SITUATION.
Dun and Bradstreet Dwell ON the Contin
ned Tariff Uncertainty.

Dun and Bradstreet Dwell on the Contin-
ued Tariff Uncertainty.
NEW YORK, July T.-R. G. Dun
Co.'S weekly review OF trade to-morro"
will say:
The heavy outgo OF gold, the ran OF
the Treasury reserve. the price OF wheat
at the lowest point on record, and the
increasing uncertainty about the tariH
have overshadowed other features. In
some branches there has been more ac-
tiyity, but in others less. because events
early this week led many to infer that
no change OF tariff would be made Inc
internal revenue receipts on whisky sud
denly dropped more than half. and the
sales OF wool greatly increased. But 'hs
uncertainty Is not removed, and much OF
the business done seems TO be in the ma
ture of Insurance against possibility, All
the year IL has been argued that gold eN-
ports had practically ended, but the outgo
this week has been 10000, making the
net outgo for the month about slO.OV'Vo.
OF all the explanations gwen, only one
fits the facts. With wheat at the lowest
point ever known and moving from the
farms very freely. while imports are stu
restricted by doubts about future duties,
gold could not 20 out IL there were the
ordinary confidence in the future of enter
prises here. But much was done to pre-
vent that confidence by legislation hostile
TO lenders in Western and Southern
States. and many millions have doubtless
been called In by foreign loan companies
and taken away. Still more has been
done by the strikers. the depression OF
manufactures the loss Of railroad earn
ings and the rapid decrease of the
Treasury balances.
Textile industries have been perceptibly
stimulated, according to location. In
wOOllens the goods famine which clothiers
prepared for themselves by deferring or
10 ttph hot INN rot va
now keep most Of the mills at work, ana
purchases Of wool for immediate use are
large. But there Is no change Tor the
better as respects orders running INTO
the future, and indeed some concerns nave
Withdrawn spring samples and will make
no effort for trade at present. me safes
OF wool have been greatly swelled by
speculation in the belief that wool ~ not
likely to decline in any event, but may
advance sharply If tariff changes IAN
While the scarcity OF coke delays re-
sumption of work in many central and
western iron-mills. the light demand Tor
finished products at Chicago ana the us
appearing demand for most at Pittsburg
raises doubt whether a material increase
can be expected until the tarln question
is out OF the way. The demand FOR sheets
is better at Chicago, and there are hume
rous small orders for structural Work az
Pjttsburg with n rather better demand
for bars but nothing like the expected
rush. At Philadelphia the tone improves
and nrices are steady. but foundry busi-
ness is much depressed and sharp compe-
tition prevents advance IN hnished pro-
duets. .
The failures for the three weeks OF
.July compare well, of course, WIN the
panic period last year, commerclal ia,
bilities being S6.3l7oOO. OF when S129o''os
were of manufacturing and Si5.Vi Ui
trading concerns. For the week the iall-
ures have been 2i9 in the nited States'
against 260 last year. and 80 III Cahada'
against % for the last year. ,
Rradstreet's tomorrow viii say Inc
leading interests affecting tie couIsy y,
general trade throughout the thiteu
States within the week have not reSul'eu
in a net gain. Prolonged droughts haNe
damaged corn and other crops IN ~ ~
braska, and fears are enterlalhtu vi IN IN
losses in Kansas. Without early rams
the reduction in the yield Of Indian corn
is expected TO be considerable. The OUT
look for the Yield in the spring wheat
States is regarded as unfavorabie, which
reacts upon country merchants, anu
checks demand. l..
several thousand striking miners in
Ohio. Indiana. and Alabama refuse -
return To work at rates agreed upon III
conference. and this continues to depress
business throughout tributary regions
Iron. steel. and other industries are
hampered throughout the Pittsburg dls-
trict for lack OF coke. which restricts
production In the face OF mllily-inlpIon,,
Ressemer pig and billets about dollar
higher than quotations for future delivery.
Continued exports OF gold IRON NeW ioih
are regarded as an lnfavorable influence,
and there are more unfaVordble repotts
as to mercantile collections. More serious
in its disorganizing effect on general busl-
ness Is the continued delay in tari1 iesls-
lation, few merchants caring 10 uy 70
provide for prospective wants IN We" Oh
the uncertainty.
The other side reveals reports OF mode
rate improvement in general iradc &C
a larger number OF southern citles thdii
last week; an Improvement in the Out
look for the Columbia river saimoh,cah
ming pack; increased activity IN All icad-
ing lines i'm san Francisco; fun ana resu-
lar fruit shipments east from the Ia
clfic coast; an improved demand ior Hot,
and steel at 81. Louis. lrttsburg, ana
other centres: "A practically compi 'te
restoration of ordinary freight service
throughout the country; tendency -
buy very sparingly for iall delivery ai
phiIadelphia Baltimore New YORK. ana
Roston: excellent crop prospects In most
Southern States, and increasing orders
among Providence manufacturers OF uIy
goods specialties and novelties IN )ewclry.
The spurt In the demand for WOOL AT
Roston and Philadelphia is attributed
on the one hand TO the Expectation 81
tariff legislation and on the other 10 de-
mand by spectators, who believed we
wool prices had touched the lowest l''s-
sible point. Heavier shipments of mer-
candise for Baltimore to southern points
were caused by the announcement mat
freight rates would advance August lsI
From the South Memphis NASHVILLE
Charleston Augusta. Atlanta. Chat'a-
nooga. Savannah. and Galveston report
a slight Improvement within the week,
the South Carolina and Texas ports
adding that favorable reports as to crops
render the fall outlook encouraging.
At New Orleans jobbing is dull. hut the
building trades are active. furnishing en-
plovment to many who would otherwise
be out Of work.