The morning news., 1894-08-04
A MORE HOPEFUL OUTLOOK.
Business Bound to Pick Up When the
Tariff Bill Is Passed.


Strike by Reducing Wages -Recov-
cry in Iron Manufacture Delayed by
the Strike Of the Coke Workers.
Cause Of the QUITO Of Gold.
New York. Aug. 3.-R. C. Dun & Co s
weekly review Of trade tomorrow viii
say: An important change in the state
Of business Is near at hand. Congress
will act on the tariff question. one way or
the other in all probability, within a
week. If it passes the pending bill. or #
II fails. in either case the definite basis
for future business viii enable many 10
act who are now waiting Whether the
ore course or the other would
stimulate the greater increase, il IS
certain that either would give relief from
the present paralyzinF uncertainties, and
cause some increase in business, at least
for a time. So much business has been
deferred during the past year, and mer-
chandise stocks have been so rednced,
that the mere approach of a decision,
without certainty what it is 10 be, has
this week encouraged large preparations
for increased business.
IHE OUTLOOK MORE HOPEFUL.
''In spite Of outgoing gold and sinking
treasury reserves, small railroad earnings
some injury to crops, and increased
trouble in the coke regions, the tone and
the outlook are more hopeful
The movement OF bleached cOttOns has
been checked by the storation Of prices
as it was stimulated by the temporary re-
duction to the lowest point on record, and
the print cloth manufacturers at Fall
River are seriously considering a reduc-
ffrn Nf the Er0Fk Tharn
and at Providence being l,lS5, 000
pieces, while the lowest price ever known,
29-l6c for 64s. has been made at Provi-
dence. As a strike would help the price
Of the large stock on hand, one is not i'm
probable
IRON MANUFACTURE.
Recovery in iron manufactures is hin
dered by greater trouble in the coke re-
gior. where many of the new colored
hands have quit and gone back to the
south and the strikers have decided to
continue the struggle. Somewhat better
business appears at Philadelphia, but the
market here is dull.
There is no improvement in the guam
titles of manufactured forms required at
Pittsburg or the west, and in general the
demand for finished products is disap-
pointing Prices remain nearly un-
changed, though with numerous small
contracts for structural work Beams
are a shade stronger, while Bessemer
iron. bar iron and wire nails are a shade
weaker.
THE OUTGo OF GOLD.
''The outgo of gold is in part TO settle
for unusually heavy imports Of sugar,
and in part TO pay large railway and other
loans made a year ago in time of special
stress, The main fact is that the exports
of domestic products in July were nearly
20 per cent. less than last year. while the
imports, though much diminished for the
time by tariff uncertainties, are but per
cent. less than last year. There
Is every reason TO expect heavier
imports soon, while the markets do not
give promise Of strong foreign demand
for the great eXportable staples. Money
is now coming into New York banks,
though in small amounts. and the custo-
mary heavy demand from the west has
not yet appeared, though the wheat move
ment is heavy. Commercial loans are de-
cidedly increasing, though not enough as
yet TO terminate the extraordinary condi-
tion Of the money market.
The commercial liabilities thus far re-
ported in failures during July amounted
TO S9.0l6,778. Of which s.. 500. 22O were of
manufacturing and 81 ,23l 40 of trading
concerns, and the decrease for the month,
though great in comparison with last
year, is hardly as much as has been ex-
pected.
The failures this week in the United
States have been 2l9, against 436 last
year, and "A in Canada, against "a last
year"
AN INCREASED VOLUME OF BUSINESS.
Bradstreet's tomorrow will saw.
''While little significance is attached to
the moderate Improvement in trade at
San Francisco, Pittsburg. Baltimore
Augusta and Atlanta. when it is added
that the clearing house totals for July re-
port at twenty-nine cities larger aggre-
gates than in July last year. contrasted
with the June report. which contains
only eighteen cities with aggregates
larger than those in June year ago, it is
perceived that there are influences at
work at the interior favoring an in
creased volume of business
Wool remains steady at last weeks
cent advance, speculation having been
stimulated by differences of opinion as 10
the tariff outlook for that staple
O'Wheat has advanced, iu sympathy
with corn, on increased orders and re-
ports OF crop damage from abroad while
corn's sharp advance is due partly TO ex-
aggerated notions of damage of drought
There is little likelihood Of the corn crop
being smaller than in either of the two
preceding years, Notwithstanding our ad-
vices Of 25 per cent. damage in Kansas
and 40 per cent IN Nebraska. The south
ern crop prospects generally are excellent
THE WAR IN THE FAR EAST.
The improvement announced in gen.
eral trade at San Francisco is in part
based on interest manifested in the war
IN Asia, provision dealers particularly
anticipating largely increased trade
War between China and Japan has not
affected the price of tea here yet. although
an increased demand is noted at New
York, Boston and at Chicago Gable
advices are that crops of tea are
likely to equal those Of last year Teas
are low now, and stocks here moderate
II TEA ports should be closed high prices
would follow quickly. China exports but
little rice, and Japan's rice export season
is passed, while I'VE are entering upon a
new crop. Prices Of rice would probably
be sharply affected should the war con.
tinue another season. They may be mod
erately enhanced in any event
Added interest in wool has character
tzed the Philadelphia as well as the Bos
ton markets. Slight increases in the
demand in nearly all leading lines are re
ported from Pittsburg, and at Baltimor,
lobbers In dry goods, notions, hats anC
shoes report business more encouraging
Providence jewelry manufacturers re
port orders very small and the outlool
not promising