The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-05-12
TRADE WAITS ON CONGRESS-
Merchants Slow Buyers Pending
Action on the Tariff.


Boom in the Eastern Markets.
New York. May ll.-Bradstreet's to-
morrow will say: prolonged warm
weather has stimulated farm work, as
well as sales in various seasonable lines OF
merchandise, but renewed tariff uncer-
tainty tends 10 prolong the period during
which merchants will continue to buy for
actual needs only, evidences of which
fact have appeared.
The great coal miners strike has been
extended to the far west. and in portions
of Maryland ana the Virginias, and this
has been followed by an increase in the
number of industrial shut downs due to
the increasing scarcity of fuel.
Not far from Us, 900 men are reported
idle in the coal trade alone, and with
those idle or on strike in other lines the
total out of work is not less than 225,O00.
Destruction of property has been a
feature of the coal strike in Pennsylvania
and Alabama. The Pennsylvania and the
Baltimore and Ohio railroads are reported
as confscating coal in transit.
IN THE EAST.
"Among larger eastern cities those
which 40 uOb IGpDIb d ulOQtEdNE VI uil-
changed volume of trade report less IA
vorable features. Philadelphia reports
that the prospects in the textile manu-
featuring lines are unfavOrable and
prices unsatisfactory. Buyers in Balti-
more take for needs only, although mer-
chants are discounting May bills better
than expected.
I'm the eastern markets the demand
for wool is quiet and sales small, but
hro.lrpF1 EtoplFG tend n steady DnOf9 fiOnG
only moderate volume Of business in dry
goods is reported, merchants purchasing
only for actual needs.
Cotton aills have surplus stocks.
which threaten prices. and reduction of
the cost of production is probable.
Charleston, Atlanta, Chattanooga, Au-
gusta, New Orleans, Galveston and Nash
vile all report little or no change in trade
circles within a week, and at most of
these cities business is quiet. The vol
ume of trade at Jacksonville is decreas-
ing, and the drought threatens the straw
berry and melon crops in that vicinity.
The Alabama coal strike further de-
presses trade at Birmingham"
EFFECT OF THE STRIKES.
R. G. Dun & Co.'S weekly review of
trade tomorrow will say: The strikes
begin to have a serious, though, it is pre-
sumed, only a temporary effect The
plies of bituminous coal or coke for fuel
is large, and quite a considerable proper
tion of them has already been compelled
TO stop operations. No doubt the
proportion is larger in the iron and steel
manufacture than any other business,
but nearly third in capacity of the iron
furnaces at work a month ago appear to
have closed. Some railroads at the west
are embarrassed and textile works of
some Importance must close soon unless
the strike ceases.
The movement of so-called armies Of
unemployed on Washington has caused
little excitement and is less important or
significant than the outward movement
of specie, which shows a shrinking for
eign demand for products and further
withdrawal of foreign capital. But
neither strikes nor foreign distrusts long
retard the progress of this country.
THE IRON OUTPUT.
"The capacity of the iron furnaces in
blast May l, was l10,2l0 tons, a decrease
1852 tons during April, but the Iron Age
has Geographic reports of the stoppage of
other furnaces having capacity
of 25,092 tons, including some
expected to stop this week, which
would mean a decrease of about a third
in production since April The fact that
the prices of some grades of pig iron,
especially of foundry, show weakness,
Notwithstanding there has been no in
crease in the reported stocks unsold
seems 10 indicate that about as
large proportion of the
works using pig iron as material
has also been compelled to stop, and it is
stated that in the Pittsburg region many
are close to the end of their supplies of
fuel. Prices of finished products are fully
maintained, and many kinds have ad-
vanced a little, but it is noticed
that the demand is not as large
as we expected, and while an early
termination of the strikes IS hoped for.
the appointment OF committees to nego-
tate regarding wages, for the coming
year brings attention to the fact that ex-
listing conditions do not favor any advance
IN prices, or in the cost of production In
minor metals, no industrial change of i'm
portance appears.
TEXTILE MANUFACTURES.
1.-THE textile manufacturers are not i'm
proving in position or prospects, for
while orders do not increase. the un-
certainties in regard to labor grow more
serious The working force shows much
unwillingness TO accept for another sea-
son the wages which were temporarily
adopted In order to have works reopened
after last summers suspension. The
apathy of buyers in cottons is reflected in
q LII tAACA 0NNAluC III Vic lTlC6 OF Lle
product, although some qualities of goods
have advanced slightly.
THE decline of the treasury gold re-
serve below S94 ,000, 900 suggests the posi-
sibility that continued exports of the
precious metal may cause not a little
trouble before the season is over. The
accumulation of money from the interior
has not ceased, while the demand for
commercial loans does not yet enlarge.
THE RECORD OF FAILURES.
"One large failure about doubled the
aggregate of liabilities for firms failing in
the week ending May 3, which would
otherwise have been quite small, but
were 81, ,794. The number and the
general average Of liabilities are still en-
couragingly shrinking. For the four
weeks of April the liabilities reported
were S8,S26, $50, of which s.. 6S7. =
220 were of manufacturing. and
4,677 ,699 of trading concerns. For the
past week, the failures have been 2O6 in
the United States. against 257 last year
and AZ, in Canada against %. last year
with none of especial Importance, al
though four bank failures are included. +"
STRANGE DTaAppEAD ANyrr