Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-06-10
policv OF bankers or borrowers nj BirminR-
ham. Ala. where business Is quiet.

ham, Ala, where business IS qule.
Al Mobile business Is dull and coiiec-
tons are slower. with the banks con, Mnv
ing the policy OF the week before. AZ new
Orleans money Is tighter and rates are
somewhat higher. with the banks trying 10
discriminate as much. ifnot more, than pc
fore. and merchants prepared 10 meet
the situation. General trade IL per-
hans still further restricted. prospects
of high water aud foods are causing alA-
iety ID the Louisiana sugar districts. pusi-
ness at Dallas IL in fair volume, with crop
prospects favorable; but at Galveston It's
auie; and money is tight, although not as
stringent a. ut some other points Soutn.,
X. q. Dun It Co. q weekly review or traue
will say: The severe depression OF week
ago. winch eliminated IN very tight money
and numerous failures. has been followed
By some recovery. Reports that dennlte
action by Congress on the money question
has been assured have done much to cause
the better feeling, which indicates tnat ap-
prehension for the future rather IMAM
present difficulty causes much OF the trou,
! ole. Blu. the stringency at Chicago anu
elsewhere has forced realizing on the I'M
precedented stocks of wheat, so that the
lowest prices ever known have been MADE
here and at the West. This has helped ex-
ports, and IN other respects monetary con-
ditions are distinctly moro tavoraole-
Tho Treasury is gaming reserve. OK
ports of gold having been arrest
ed: foreign exchange has ihl,en'
with dearer money here ana reduc-
ton of the bsnk-rate at London. and the
banks ut Chicago have rallied with sue,
cess against tue runs when appeared
threatening. Though no radical change
in underlying condItions.shss occurred,
there is more helpfulness and some re
coyery from the extreme contraction OIL
credit.
Trade at Little Rock is dull and at
Louisville restricted, with money very
close. At Memphis trade - very quiet, at
Nashville far, and at Knoxville slow, with
money close and collections not improved.
At Atlanta. Macon. and Augusta, similar
conditions exist. At Charleston tho hard-
ware trade IS fair, but that IN dry goods
and groceries IS moderate: and at calves
ton trade il fair, but collections are SLOW
At New Orleans money il IN active de-
mand, collections are low, and business Is
dull, excessive rain making crop pros
poets doubtful.
Iron is very dull at New York and Phila-
delphia and sales are reported at astonlsh-
Ingly low prices at Buffalo. Dealings IN
bar show great anxiety for orders. Struc-
tural iron is dull, and while plate mills are
we'll employed. all prices are low and trade
is disheartenng.
The financial outlook is not helped as
vet by foreign trade, rs the imports con-
tinue heavy. while the exports are still be-
low last years for the past two weeks
more than 10 per cent. But the depression
in stocks brought in some foreign
buyers. and prices have recovered on
an average $3.50 per share since
week ago. with railroad earnings con-
tinulng large. Foreign payments tor
securities have helped exchange down
ward and also bills apainst several mil
lion bushels of wheat taken for export. so
that some bankers believe the rest of the
summer may pass without renewal OF gold
exports. -,
The failures for the week have been 1922
in the United States. against 1853 for the
same week last year. and twenty-seyen IN
Canada, against twenty-fOur last year.