Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-02-18
GENERAL TRADE SITUATION.
Reports Thereon of "Bradstreet's ana
the Messrs. Dun-Financiai Outlook.

NEw YoEK. February l7.--Brddsireeps to-
morrow will say: The features of the
general trade situation this week include
check to business South. and IN portions
Of the West aud North. because OF unfa-
vorable weather and resulting bad roads.
The leading grocery stapies-graIn, COT
ton. pork, and the low grades Of cattle
and hogs-are lower in price, while ad-
yances are noted in print-oloths. leather;
hides, lard, sugar. white-pine lumber, and
rubber goods, and in Bessemer pig
iron and steel al Pittsburg. A de-
crease of X in cotton prices appears.
based on an unexpectedly free movement.
kilograms from leading southern markets
agree that the continued wet weather has
had an unfayorable effect on general trace;
and that muddy rosdways have checked
the movements of commercial travellers,
az we'll as mercantile collections. At Nash
Vile the country merchants are making
uurchases in person rather more hume
rously than elsewhere. but Charleston,
Memphis, Atlanta, Birmingham, and Gal
weston unite in reporting the other tea-
lures mentioned. The carnival has inter-
fered with wholesale trade at New Or
leans, and the depression IN cotton prlces
is reported "a responsible for some OF the
check TO trading on the part of interior
southern merchants.
Messrs. r.. q. Dun & Co.'S weekly re-
view of trade will say: The anxious ef-.
forts made by the banks for an issue OF
bonds by the Treasury and the refusal OF
the President to authorize 1t caused ap,
prehension and depression during most OF
the week. Discretionary power was bnallv
given TO Secretary Foster TO issue bonds II
II should become absolutely necessary,
but It Is stated that be believes no neces-
sIty exists Moreover. quite large pur-
chases of securities on foreign account are
reported. which would cancel heavy ad-
verse merchandise balances and TO that
extent prevent gold shipments. Outside
of financial Influences the course OF
business is undisturbed. Its volume 10
still large, though somewhat affected by
recent storms, and there are tewer sisns
than usual of unsound or unhealthy con-
dltons. though NJ many points collections
are somewhat slow. At most southern
points business shows some improvement
| and is fair for the season. though the
movement OF cotton IS small and prices
are somewhat lower. In the iron trade no
distinct improvement IS seen, for, while
! business is large, prices are entirely demo-
I ralIzed by intense competition. halis are
an exception. for $1,000 tons have been
/ sold without reported change In price,
! and the structural works are well en-
ployed, though at very low prices, but
/ The demand for plates IS not up To
the capacity of the works, and bar iron Is
quite weak. The financial outlook de-
/ pends largely upon the fact that exports
| of the principal products in January were
| s29. 600 900 smaller than last year, while
/ the imports at New York alone were 81! :
OOO. 600 larger than last year, which indi-
/ Gates considerable excess of imports tor
/ the month and explains the heavy outgo
| of gold. In February thus far the exports
/ from New York have been but little below
/ last years, though at cotton ports very
much smaller. and mean while the i'm
ports show an enormous increase
over 30 per cent. Inc excess OF
imports over exports seems to. have
more TO do with the shipments OF
| gold at present than any anxiety about
/ currency, which nevertheless renders
| investors extremely cautious and deters
many from new enterprises. But those
/ who dread disaster may well note the
healthy character of trade and the unusual
conservatism of buyers, and remember
the rule that a panic that is expected
never comes. The business failures during
/ the past week number-for the United
States, 197 for Canada. 36-total, 233.