Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-07-22
The WEEKS TRADE.
Denver Disturbance Due to "Cfhzy Un-
vi.dom r-ReIaxatio8 IN Money.
Rv,eleeraph to the Dispatch. J


NV YopK. July 21.-Messrs. X. G.. Dun
Cos weekly review Of trade tomorrow
will say This week the country has stood
surprisingly an extraordinary strain. The
failure of many banks and firms ald
OF great iron syndicate and other
companies, a remarkable fall IN stocks,
and the closing OF some important
manufacturing establishments have come
i'm spite of real relaxation in east
ern and some western and southern
money markets. The Denver banks
were overthrow largely by the crazy
unwisdom of the people. and several
banks in Kansas have gone down. but IN
most cities the statement Just puoilsheu
shows the banks IN healthy con lltiOn,
but there has since been noticed more
readiness TO extend accommodation. The
great depression IN stocks came at time
when easier money. some return of cur
rency from the interior and beginning or
cold inportat.ons from Europe made
many hopeful.
The closing Of many manufacturing
establishments ia the inevitable result OF
the great shrlnkage IN orders Tor some
time past and the uncertainty regarding
the future. Gloomy crop reports by the
department also contributed To cneck re-
vivlng homes. Under all the conditions II IS
Astonishing that business has been so well
maintained with so little evidence OF I'M
gOundncss. -,
Even while cotton and woolleD-mils
were working overtime on past orders tue
scantIness Of new orders was noticed ana
tue great frequency of cancellations.
Close observers also saw evidence OF de-
creasinQ distribution to consumers. 50
that dealers were lett with part OF their
! stocks uDsold, and wholesale dealers found
| less encouragement 10 buy The steady
| increase n this state Of things has brought
such wel,-known mills as the Amos,
| keap cotton and the Slater wOollen and
MANY other textile and shOe-wOrks 10 stop
| operatl Jns for a time until the prospect -
| clearer. In dry gooGs canceiistions are
! stIli numerous, sales Of mems wOollenS are
| not cOrnmensurate with stocks prepared.
! 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 are lower.
The stagnatlon ~ iron closes some mage
| tite mines IN this State and New jersey,
| and most mines IN Michigan, so that the
! Lake region has never been more de-
| messed Cotton IS moving downward,
! Dig iron ia inactive, and though dealings
| In The bar and structural pOductare some
! what larger, prices are the lowest ever
! known. The western IRON interest ialls as
vet to agree with the men about wages.
! and more works are suspendlng operations.
| Baltimore notes some Improvement IN
| dry goods. and an active trad in fruits and
vegetables. An easier feeling prevails at
| pttsburg IN non. glass-WOrks beng closed
! for the summer. The Cincinnati money
| market is easier st. LOUIS reports busi-
! noss good IN volume and character, but
/ trade checked by clOseness OF money, the
| banks fortifying themselves. Money -
/ tlgntat Little Rock. but the strain - borne
| remarkably well. Al Nashville trade Is
/ fair: at Atlanta backward; IA; Macon a
| better demand Is seem ut Augusta retail
! trade Is tar. and az Columbus business IS
! "A shade poorer. New Orleans finds trade
! somewhat improved. the banks very con
| servatIve, sugar weak and the prospects
! excellent At Galveston the crop reports
are less encouraging. but al Mobile they
are better. At Jacksonville credits. are
! cautious. and at Charleston marked I'M
/ provement Is seen In some trades, though
| the crop prospects are poor.
The Treasury bGs been paying gold %
! the banks. Dut, on the whole, increasing
! its holdings. Exports OF products are d
! little larger than year ago, but import
| are also large.
The failures during the week are: Fol
! the United States. 467 against lGs last
year, and 70 IN Canada, against lJ.
! BrGdsirecPs tomorrow Will say At al
poiuts south trade IL characterized as dull
| leans and at Dallas. where business Is bet.
ter in tone. Notwithstanding the depression
from tight money. At New Orleans sHghl
| Improvement IS reported. but the pres
ent outlook ~ bright because Of th'
! good cotton prospects. Collections lbs
manufacturers at Richmond are poor
| There - little gain IN the volume OF DRY
goods and shoes distributed from Mem
! pins. and Nashvllie's total business /.
about equal 10 that OF year ago. lh'
price OF rice IS firm at Charleston. anc
word Is received that the new State liqu0l
law is being enforced. The money markei
remains ~ close AS heretofore at Chat
tauoOga. while at Savannah excessively
| hot weather has tuTtler depressed busi
ness. There IS no improvement at BIZ
| mingham. while at Atlanta dullness pre-
walls IL almost all lines. The usual mid
| summer business IL reported from Mobile
while trade at Houston IL quiet. with th'
banks continuing to cut down lines OF
discount. The Galveston bank statements
show some improvements, but loans ar
not being expanded there.