Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-07-28
Trade Review.


New YORK, July 27.--The weekly review
Of trade says improvement continues, as the
crop prospects ure sull good. The labor
troubles diminish. snd the prospects OF a
change in the tariff lessen. The decision
that The senators will mature The bill is gene
rally supposed 10 insure no agreement 1T this
session. The collapse OF the Western IRON
Masufacturers ASSOCIATION bas set nearly all
the mills &C work and makes pig-irOn frmer
but bar iron weaker. official report
shows decrease OF 1000 tons in
the OUTPUT OF pIg-iron for the halt year.
with an increase OF 63, l24 tons in stocks uu-
sold. The southern Stales produced 433. 100
tons, against 432. $50 for the last half o! 1887,
with -, l20 tons more unsOld, 20 that the
great Increase which was expected in the
supply from that quarter has not vet been
realized. The decrease I'm the Bessemer-
pig productions was &S2,553 tons. and IN
rails produced 33l.i23 tons. SO that
the production and consumption OF other
iron was fairly maintained. The stocks have
been strengthened by the decision arrestiDg
the enforcement OF the Iowa rates, accord
ing 10 the report, on the broad ground that
legislatures have no power 10 tx such rates
TT the companies cannot earn fixed charges
and something for dividend besides. The
wars Of rates do not cease, and interstate de-
cisious on many important eases are deferred;
but the net earnings OF eighty-two roads IN
Nav showed loss OF 8 per cent, though
their gross earnings gained G.4 per cent,
and the gains IN the gross earnings for July
have been less than hail as large. The stale
ment shows that ., 42S miles OF road have
been placed IN the hands OF the receivers
during the half.year, with $l53,Gj0,0OO IN
bonds aud stocks, against Only ABB miles and
$2S25. 600 in bonds and stocks Tor the
first haf Of last year. But the average
price Of stocks has risen about lao per
share, though less strong OF late. Reports
Of domestic leaders are almost uniformly en-
couragiug. for. though dulness yet pre-
walls, improvement appears At many points.
The clearlnss at all cities exceed last years
by 1913 per. cent, and outside OF
New York by 5.5 ger cent, with
larger gains at Boston, Chicago,
and New Orleans. Complaints OF slow col
lections increase, however, especially in con-
nection with the distribution OF manu-
featured good., and the cornering" OF the
sugar trust BY Speckels has taken the profits
from that trade for the grocers. At Phila-
deiphis and Pittsburgh better iceling ap-
pears IN the metal branches, and at BaIti-
more and Detroit In dry goods and boots and
shoes, but eastern manufacturers are sill Te'
tsIded by tariff uncertainties.
The foreign trade for June showed i'm
ports exceeding exports by SIS, 206,3 $40, and
for the hslf year The excess WAS S6l, 4G3, DO
Against this the net export ei,gold and silver
FOR the half year were Si7,4SS.S3l; SO that.
when interest and undervaluations are CEN
sidered, the movement OF foreign capital
this way appears TO have exceeded $780,
oOO, 900 for the bali year. The fact that
a. 4 and nn.
clining and money so abundant that
Der cent. has been the ruling rate OIL call
makes the conclusion inevitable that the for
eign buying Of securities and lending In this
country have not ceased. Exports OF mer-
cbsndIse from New York In July show de-
crease Of per cent. in value against per
@ MT. increase in imports, and for the past
wear the exports have been smaller than any
other year since 1878, except the year
iss5-1SG, while imports have only
been exceeded in one year. lSSl-'S2,
and then less than St,000,000. Speculative
markets are not active and wheat has
changed but little. The crop prospects have
c,used corn 10 decline 1tc. and oats &C., but
lard. pork, and live hogs are stronger and
cotton and coffee unchanged. The Treasury
has taken In during the past week $2,600,OO
more money than IL has paid out,
but the reports from all the interior
points represent money In ample supply for
all legitimate business, with general def
cheney Of demand. Once more the country
closes the crop year with a surplus Of over
Al .OOO. 900 bushels wheat on hand uusold,
and the latest reports indicate that the supply
for export during the coming year will ex-
coed Ii5, 900, 900 bushels, exports for the past
wear having been less than 10000, 900 BUSH
els.
The failures attending the hali.yearly set
Elements have been numerous. For the tour
weeks the number in the United States has
been s2l. against 594 last year, but IN Canada
only 81, against IS last year.
The business failures Throughout the coun.
try during the week number Ter The Uniteo
states iQ9. and for Canada 22-lotal 22l,
against 22s last week. For the correspond
ing week of last year the failures numbered
1872 in the United States and p In Canada.