The times. [volume] (Richmond, Va.) 1890-1903, 1893-07-22
QUIET AND UNCHANGED.
HOW Trade ~ CHARACTERIzED
ar All POINTS SOUTH.
Tho Money Market Remains Ciose--LittIs
improvement In Charlottesville Busi-
ness Outlook In Detail.

NEW YORK, July H.-Broadstreet's to-
norrcw Will say:
At all points South trade is characterized
as dull or quiet or unchanged, except
at New orleans and at Dallas. where
business Is better In tcne. notwithstand-
ing depression from tight money. AZ
New Orleans slight Improvement Is re-
ported. but the outlook Is bright because
OF the good cotton prospects. Collections
by nal ufacturers Z Richmond are poor.
There is little gain is the volume OF dry
goods and shoes distributed from Mem
phls, and NashviIles total business Ii
about equal to that Of year ago. Tho
prizes OF rice Is firm at Charleston. and
word is received that the new State Licuor
law is being enforced The money market
remains as close as heretofore at Chat
tanooga, while at Savannah excessively
hot weather has further depressed the
business. There is no improvement at
birmingham, while at Atlanta dullness
prevails In almost all lines The usual
midsummer business IL reported from
Mobile. while trade at Houston is quiet,
with banks continuing to cut down lines
Of discount. The Galveston bank state
ments show some Improvement. but loans
are not being expanded there.
NEW YORK. July Pr. G.. Dun &
Co.'S weekly review Of trade will say:
This week the country has witnessed
and withstood surprisingly an extraordi-
Larry STRATA The failure ~ many banks
and firms. OF "A great iron syndicate and
other companies the remarkable fall In
stocks. and the closing Of some impor-
all fChp hay
come I'm spite OF real relaxation I'm East
ern and some Western and Southern
money markets. Denver banks were
overthrown largely by the crazy unwis-
dom OF the people, and several In Kansas
have gone down, but In most cities the
statements Just published show the banks
in q healthy condition. and there has
since been noticed more readiness 10
extend accommodation. The great de-
preston I'm stocks came at u time when
easier money. some return of currency
from the interior. and a beginning OF gold
imports from Europe made many hopeful.
The closing OF many manufacturing es-
adjustments is the inevitable result OF
great shrnkage In orders for some time
past and uncertainty regarding the fu-
ture. Gloomy crop reports Dy the de-
partment also contributed 10 check re-
vivlng hopes. Under all the conditions Il
is astonishing that business has been SO
well maintained with so little evidence Of
unsOundness
Even while the cotton and wool
mills We're working overtime on past
orders the scantiness OF new orders was
noticed, and the great frequency OF cam
cellations. Close observers also saw
evidence OF decreasing distribution to
consumers. so that dealers were left
with part OF their stocks unsold. and
wholesale dealers found less encourage
ment 10 buy. The steady increase In
this state Of things has brought such
well-known mills as the Amoskeag cot
ton and the Slater woollen. and many
other textile and shoe works to stop
operations for time. until the prospect
is clearer.
In dry goods cancellations are stIll
numerous; sales OF mems woollens are
not commensurate with the stocks pre-
pared. and orders are small and mainly
for low grade goods. Some Improvement
is seen In dress goods. but cottons are
dull. and print cloths and brown goods
lower.
The stagnation I'm iron closes soma
magnetic mines in this State and New
jersey. and most mines I'm Michigan.
so that the Lake region has never been
more depressed Cotton is moving down.
ward. pig-iron is inactive, and though
dealings In bar and structural products
are somewhat larger. prices are the low
est ever known. The Western iron inter
est fails as yet 20 agree with the men
about wages. and more works are sus-
pending operations.
Baltimore notes some Improvement IN
dry goods and active trade I'm fruits
and vegetables. An easier feeling pre-
walls at Pittsburg In iron. the glass
works being closed for the summer.
The Cincinnati money market Is easier.
81. Louis reports business good In VOL
ume and character. but trade checked
by closeness OF money. the banks forth
flying themselves. Money Is tight ne
Little Rock but the strain is borne re-
markedly well At Nashville trade Is
fair at Atlanta backward at Macon n
better demand Is seen; at Augusta re-
tail trade is fair. and at Columbus busi-
ness is n shade poorer. New Orleans
finds trade somewhat improved, banks
very conservative. sugar weak. and pros
poets excellent. At Galveston crop re-
ports are less encouraging. but at Mobile
they are better At Jacksonville credits
are cautious. and at Charleston marked
Improvement Is seen I'm some trades,
though crop prospects are Door The
Treasury has been paying gold 10 banks.
but. on the whole Increasing it's holdings.
Exports Of products are little larger
than n year ago. but imports are also
large.
The failures during the week are: For
the United States. 467. against 1s3 last
year and twenty-five In Canada, against
nineteen last year