Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-09-29
THE TRADE SITUATION.
Special Report of Dun & Co. a. to Retail
business.

NEW YORK. September 2S.--R. &.
Dun q Co.'S weekly review Of trade to-
morrow will say: Retail trade the last
step in the movement from producer TO
consumer. is at the same time the first
step upon which depends empty shelves in
the stores and future orders to the mills.
After most unnatural economy. buying
should be large enough TO send the nills
further orders very soon. Special inquiry
has been made this week at all COM
mercial centres regarding the state Of
retail trade. Wide diversity appears in
different trades, and the details OF busi-
ness at the different cities merit general
attention. The main facts disclosed are,
first, a marked improvement within the
past month, and a considerable excess
over the business done a year ago, par
ticularly in the necessares Of life. But
second, it appears that the volume OF
trade at present is on the whole con-
sderably less than In a normal year ar
most points. and In the more important
trades is apparently about % per cent
smaller than in September. 1883.
Evidence Of continued Improvement in
wholesale trade and manufacture does
not appear this week. There is large dis
tribut.on on orders given some time ago.
but new business going to the manu-
facturers is everywhere slackening. The
completion of orders for replenshment
of stocks leaves d narrower demand, ana
IL Is yet too early for consumption to
produce further orders The volume OF
business reported by clearings at the
chief cities is 60 per cent. larger than
last year. but 2l.S per cent. less than II
1892. and for the month of September
the daily average has been $l3i Oo,O0C
against Sl23,O00O0 last year. before re-
coyery from the panic had come. and
SlT7CJOOo0 in 1892. AZ these include pay
ments resulting from trade deferred du-
ring most of the uncertainty, the COM
parison is but moderately encouraging
The depression In the prices OF farm
nroducts Will have some influence. Tn
precedented records have been made in
cotton and wheat, although, as TO wheat
only In contracts for future delivery. in
which the prices are the lowest ever
made. Cotton on the spot is lower at
g Ac than at any other time since 1919,
and the quotations then did not mean
what they do now. while the nearest
on,ion has been quoted at 60ic.. which
is below all previous records, Even at
Tho close. the fall for the week Is one
quarter.
Tbe iron industry shows shrnkage OF
demand. and the prices quoted to-day are
hnt little above the lowest this year
Hessemer pig is weaker at sli at Pitts
burg. with an impression that excess Of
production must cause a. further decline.
unless lower prices are made for steel
rails. Billets. structural forms. and nails
are shade weaker. and In eastern mar
i'a,s the competition of works to get busi-
msss tends to destroy profits. There is
more business at the West. and Chicago
reports a good demand for sheets. for bar
I'm small lots. and for coke pig. though
,iotes and boiler tubes are weaker
Textile manufacturers feel the shrink.
age OF the demand due to replenishment
~ stocks. and there Is less doing In cot
ton and woollen goods at first hands.
The distribution by 1obbers on previous