Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-08-12
DUN AND BRAOSTREET.
The Tariff Uncertainty Makes Reports OF
Little Value.

NEW YORK, August lo.-R. G. Dun &
Co.'S weekly review OF trade tomorrow
will say: With changes every hour in the
nrosnects about the tariff, and a decision
expected every day. business has UNI
pleasantly resembled gambling. Orders
and purchases have been largely based
upon individual opinions regarding the
legislative outcome, and a vast amount OF
business has been deferred because the
decision was yet in the future. The ac-
cumulating demand which has stimulated
trading and manufacturing within the
past week or two represents to "A great
extent needs which have been postponed
waiting for a settlement, but can be post
pOned no longer. Thus both the rush of
deferred business In many lines and the
scantiness OF new orders reaching into
the future reflect an unnatural state or
things, which cannot be expected to con-
tinue, and while the volume of business
IS larger than the existing condition OF
uncertainty warrants, IL is in "A sense but
a shadow of the larger business which
should come with removal of uncertain
". In such circumstances the present H.
dications and conditions are of compare
lively little value.
Gold exports have practically ceased for
llliit WIFI lUr StllltHPUlS LOT most OF
the SOO.000OC0 pounds OF sugar imported
within the past two months. and Trea-
sury officials are more hopeful counting
upon larger receipts on account of whis-
key. Low as the gold reserve is there
appears a slight gain and. with cessation
OF gold exports, the Improvement should
be considerable during the fall. Whether
under old or new duties. imports and
customs revenue viii naturally be large
for some time after a decision OF the
tariff question. There has appeared Of late
some demand for gold from many in
terror banks. not in large amounts. but
In the aggregate enough 20 indicate some
nervousness of feeling. The volume Of
commercial loans is increasing, though
moderately, but in manufacturing paper
less increase appears than might have
been expected.
The iron and steel manufacturers re-
port an increase Of nearly 10000 tons IN
the weekly output during July. and the
production Is 1885 tons weekly-about
II 90 tons less than in April-but 500
tons more than a year ago. when the
prostration had nearly reached its worst
Prices sustain this view. having changed
only in the direction OF weakness. ami
the disappointing demand for finished
products is still the main factor.
The volume OF domestic Business
through clearing houses Is ~ PER cent.
smaller than a year ago, IND * per
cent smaller than In 1872. tn earning ,
of railroads reported for July are -
per cent. less than last year. with a larger
increase on the Granger, Northwestern
Southwestern. and Pacific roads.
The failures for the five weeks ending
August lst show liabilities OF $l11ii7l}.
OF which &.e2559i were Of manufacturing
and S. 220,2G of trading concerns The
failures during the past week have been
25l in the United States. against 3?i last
year, and "A in Canada, against % last
year.
Bradstreet's tomorrow Will say: Evil
dcnce continues to accumulate that the
earlier portion of July witnessed the
lowest point in the ebb OF the commerc Il
tide in the reaction after the moderate
revival in the spring. The July bank
clearings this year furnished a list Of
twenty-nine cities with larger aggregates
than last year. while the June report
furnished only eighteen cities with totals
larger than In June year ago. The
I practical cessation OF the various severe
| industrial disturbances Of the year has
emphasized the tendency to Improvement
reported by telegraph from leading manu-
featuring and commercial centres this
week. \ further indication of the tend
ency to Improvement is seen IN the
/ weeks advance OF fifty cents per ton for
! steel billets and in the fact that the
/ domestic wool markets to-day are more
/ In favor OF the seller than they have been
/ for year. and that wool is firm at the
two 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 I'M
provement IN railroad earnings and the
stoppage of gold exports as additional
factors. Southern railroad shc(s attract
increased attention. and favor relatively
! good conditions in that seton.
! Boston reports that Massachusetts, cot
ton manufacturers lind business unsatis-
factory. but that manufacturers Of mems
wear woollens report products moving
/ freely. Chattanooga advces are that gro
| ceries are moving more freely. with col
| leCtions fair, while in Atlanta jobbers In
| nearly all lines report more active ship
| ments, although rains have damaged the
! crops somewhat. Favorable weather,
| good-crop prospects. and n bright out
| look for business characterize the situa-
| ton at Augusta, and at Jacksonville. Fla.
| the wholesale trade has expanded. \
| fairly good demand is reported from Sa-
vannah. and although there Is no i'm
provement at Memphis. the outlook Is
more encouraging. South Carolina crops
have been damaged by rains. bu. Charles
ton reports the lumber aid naval-store
markets more active. Neither Birming-
ham nor New Orleans advices contain
news OF Improvement IN demand. dulness
/ characterizins the situation at both places,
and trade there is reported slack in dry
! goods and notions.
|