Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-06-24

A week Rich in Promiss But Poor In
Resulta


NEW YORK, June a-Bradstreets to-
morrow viii say:
There are Indications OF moderate Inn
provsment in the various lines, and enough
instances render the fact Of some
Significance. A notably favorable feature
Is the practical ending Of the coke and
coal strikes, together with those In re-
lated industries. which will put 70 work
at once, or soon. more than 5000 men.
There are sales by jobbers In staple
lines for future delivery where nothing
save a hand-to-mouth business has been
reported for weeks. At points tributary
to Kansas City and St. Louis grain har--
yesting is under full Roadway. the condi-
ton of the wheat Is excellent, and the
demand for money to move the crop Is
marked and the supply Of the latter Is
abundant. Western steel works recently
started report disposition In capitalists
and others to push new enterprises.
The reverse Of the picture contains no.
thing worse than has been previously
reported, the more familiar features be-
ing delayed and Indifferent tariff legisia-
ton, resulting In stagnating business.
continued hand-to-mouth dealings by job
bers In all portions of the country. the
approach of the semi-annual stock-takins
period, and uneasness ir Florida and In
portions Of Louisiana owing TO drought.
Nothing indicating an increased demand
for staple goods or tendency TO antici-
pate wants Is reported from any New
England city. Comparatively large ship
ments OF shoes from Boston are due 10
heavy consignments South, based on cut
freight-ratss. The shoe factories at Phila-
delphia, OH the other hand, are largely
idle Cotton and wolen mills are run
ming as previously reported, the former
accommodating stocks the latter on orders.
Baltimore merchants report the South
Withholding orders more than previously.
At the South there Is rather more en-
couragement in trade circles at Nash
vile as to the prospects for fall trade.
rains having helped the crops In that
vicinity, and although business is quiet
at Savannah. the demand for naval stores
remains active. Some improvement in
the distribution OF merchandise Is an
nounced from New Orleans. particularly
as to hardware, and Galveston reports
business fairly active and prospects en-
couraging. At Charleston, Memphis, At
lanta, Chattanooga, Augusta, Brming-
ham, and Mobile trade Is only fair or
dull, and without change. Jacksonville
merchants have not as yet felt any UNI
favorable effects from the drouth in
Florida.
r. G. Dun & Co.'S weekly review Of
trade will say tomorrow:
The week has been rich in promise, but
poor in performance. 1t was confidently
announced that exports OF gold would
cease. but they have not. 1t was promised
that the end of the coal-strike would bring
immediate recovery of the indus
tries affected. but the partial resump-
ton of work dscloses comparative
scantiness OF demand for products, while
the miners OF Ohio. In convention, have
repudiated the settlement and continue
the strike. and in many other localities
1t fingers, and above all. the coke-work-
ers' strike blocks most OF the iron manu-
features in the central region. less than
a quarter OF the coke ovens being yet
at work. II was believed that late
changes in the tariff bill would be more
satisfactory to industries. but the new
schedules have not yet diminished hest
tatlon.
The Treasury gold-reserve Is reduced
lower than II was at any time in January,
and the government proposes TO ship
legal tenders to interior points against
deposits Of gold In the Treasury at rates
which virtually constitute a premium on
gold. The conference of New York bank
ers proposing to provide gold for ex-
port has resulted in little practical
gain, but has called public attention
more distinctly TO the difficulties OF
the situation. Most lenders now require
stipulation for gold payments I'm all
time loans. The customs receipts for the
week have been sl.S92, ll3. against 1855
119 last year, and the internal revenue
also decreased $4,000. The market for
commercial paper Is slngularly narrow,
with extreme caution in the scrutiny OF
names.
1t was confidently expected that the
settlement of tariff rates on textiles by
the Senate would improve the condition
OF textile manufactures. but there is
scarcely any evidence OF such a result
as yet, the large sales OF cottOns being
distinctly traceable TO more seasonable
weather and larger retail sales, and to
further concessions by sellers. The stock |
of unsold print cloths at Providence. Fall
River, and Boston Us over a million pieces,
but the accumulation continues. The
orders for fall are limited, and staples
are irregular in price.
There Is much disappointment that the
partial termination OF the coal strike does
not promptly enlarge the demand for
iron and steel products which Is evidently
too narrow as yet TO support much in |
crease OF production. Prices are weaken |
ing. Bessemer pig selling at 1900 at
Pittsburg, beams at 49, and angles at |
$l.20. Western orders are comparatively |
liberal, though much smaller than In |
other years, but no improvement is seen |
at Philadelphia, while In the central (
region the continuing coke strike and the |
grave uncertainty about the July settle /,
ment OF iron-workers' wages causes much |
hesitation.
The volume OF domestic trade. measured |
by clearings, shows no important change, |
though the heavy decline a year ago |
yitiates comparison with that period.
Compared with 1882, the decrease Is ls.s
per cent outside New York, and 2i.3 |
per cent. at all points.
The Improvement continues In failure
returns, which show an aggregate OF liza
bilties for two weeks Of June amounting
to s6.52O,O25. OF which s225s,9O6 were OF
and Si.ll3.63S Of trading
The failures during the week
numbered PA In the United States, against
273 last year. and 3 liz Canada. against