The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-08-18
A BASIS FOR BUSINESS.
Definite Warrant for HOpeiuInGSS in
the Trade Outlook.

Increased Transactions in Manufec-
tured Cotton Goods, Resumption in
Many Iron and Steel Works Closed
by the Strike, and General Encour-
agement by Recent Action at WASH
ington-Gold and silver-The Weeks
Failures.
New York, Aug. 17.-R. G. Dun & Co.'s
weekly review of trade tomorrow will
say:
The new tariff bill, if signed by the
President as expected, provides definite
basis for business. No supplemental leg
islation is thought possible till next year
at least. Large improvement has been
| expected from any settlement, the more
because of vast amount of business de-
ferred from week TO week in the hope Of
more definite conditions.
while it is not wise to look for great
boom there is warrant for a reasonable
and prudent hopefulness.
ut is too early To look for the effects of
| the new situation in the great Industries.
but the gradual recovery which has ap-
| peared for some time is seen in a better
| demand for product
Cotton manufacturers have been car
rying extraordinary stocks of goods for
| the country, and the strike threa tened at
| New Bedford will not alarm them. but
the reduction of wages seems likely to be-
accepted at Fall River. A smart increase
| IN transactions is reported, buyers and
sellers having at last common basis for
judgment.
Resumption by iron and steel works
| which we're stopped by the strikers con-
tinues TO depress the prices Of some fin
| lshed products, but with more furnaces
operating prices OF pig iron are not lower.
Comparisons given to-day show fall in
prices ranging from 20 TO A per cent. in
| iron, and its products since October 1890,
which sufficiently accounts for the idle
ness OF more than third of the works.
The demand for structural forms
seems smaller, and does not in
| crease for railroad uses, though
tratic improves, but the demand for
| come other products is better The boot
and shoe industry leads all others in its
! recovery from the depression Unless
| exports increase speedily and largely the
| financial situation may grow difficult. In
| July imports exceeded exports 81, ,b37, ,9l4
mainly because of the heavy sugar move
| ment. With lower duties the arrival of
merchandise TO meet the long delayed
even phenomenally low prices do
not take out products freely
at present. In July Sl2, ,80l ,090 in gold
went abroad to balance the importation of
goods, but the outgo has ceased, because
exports have materially enlarged The
striking feature this week is the strong
increase N the demand for commercial
loans, deferred operations of all sorts
being encouraged by action at Washing
ton. Silver is also stronger because OF
the eastern demand, which the war in
China is expected TO prolong.
THE liabilities of firms failing In the
| week ending Aug. are little larger
than of late, and amount TO So, ,294, 6S9, OF
which Sl,04l,4 ,49l were of manufacturing
and 81 COS, l9S Of trading concerns Full
returns for July show an aggregate of
| SIl, ,29l, ,305. The failures this week have
been 226 in the United States, against
455 last year, and 40 in Canada, against27
last year"
BRADsTREET ON BUSINESS
New York, Aug. 7.-Bradstreet's to-
morrow will say. Especial telegraphic
and mail advices summari ing interviews
with more than 800 leading wholesale
| dealers and manufacturers at forty-seven
cities throughout the country, as to the
| present effect If any, Of the prospective
tariff settlement and the outlook as TO
effect of the Senate tariff bill, should 1t
become law, indicate relatively less
enthusiasm at large eastern centers, ex-
cept at New York and Baltimore.
SATISFIED AT THE SOUTH.
almost uniform satisfaction is noted
throughout the southern states, and SINH
| lar advices come from the central and
( northwestern states, except where serious
| crop damage has taken place. In the west
| little interest is manifested in tariff legis-
lation, especially at Denver and Helena,
| where silver attracts most attention
Portland fears the result of the reduction
Of the tariff on lumber, but at San Fran
| cisco an improvement in demand is ex-
pected and considerable freight is offer
ing for shipment TO China.
"A feature is found in declarations
| from manufacturers Of woolen goods,
glassware, pottery and iron and steel at
various centers of production that wages
will proba oily be reduced
Aside from probable improvement due
TO ending the uncertainty in business,
neither Boston, Providence. Buffalo,
| Philadelphia Pittsburg Newark or
Rochester merchants interviewed express
noteworthy enthusiasm as TO trade pros
poets.
"While no gain is reported in trade cir
Giles at southern cities several thousand
coal strikers have gone back to work in
the Birmingham district, several southern
railways are calling for more coal, and
southern iron works are shipping more
iron than year ago 1t is reported that
Atlanta hardware iObbers based recent
prices on the Wilson bill, and the prospec-
tive passage Of the Senate bill will
| make difference in profits in
consequence. Little Rock expects east
ern cotton manufacturers TO buy more
freely now, and three leading Texas
cities, in view Of the excellent crop pros
poets in that state and prospectively the
largest cotton crop on record, regard the
business outlook very favOrably. The
proposed change in the sugar schedule
exerts material depression In Louisiana.
| UNIFORMLY FAVORABLE.
'tThe region west Of Pennsylvania and
east of the Mississippi ri or reports al
most uniformly favorable trade condi-
tions, with gains in demand and in indus
trial activity, except in the Indiana ana
| Illinois pottery industries and among In
| diana clothing manufacturers, who report
| that they expect TO reduce wages.
Money at nearly all the leading fnan-
! cial centers has hardened. The demand
| for shipment west TO move and carry the
crops has begun 70 exert an appreciable
! fufuaura