The times. [volume] (Richmond, Va.) 1890-1903, 1895-09-14
CONDITION OF TRADE.
UNEXPECTED. BUT PRDNOUNcED
IDFEOvEMENTsO And WEST.
Unfayorabic Features In Dry Goods Job
bing Circles-TalI Trade Opening More
Freely Than Expected Ia the SOUTH

The week Is characterized in trade cir
cies by an unexpected, but no less
pronounced Improvement South and
Southwest. Tnis is reflected at she
markets from which supplies are dis
tributod TO these regions. Relatively
unfayoraDle features are found IN a
quieter tone ia dry-goods jobb.ng cir
cIes, check TO seasonaDie trade through
out the central West, due TO the unusual
heat, low prices for mems wear, wOOllens.
ana the unsatisfactory outlook due to
the depressed conditions IbrOaa; only
moderate Oriers for domestic woOllcm
manufactures, collectors or a few Ne
bruskd gencrdl-mcrciandiz CIders at
Chicago and the somewhat critical po-
sition OF the American tin-plate in
dustry, owing TO the advance in. tin
plate bars, without q corresponding i'm
crease IN the price OF tin-piate. AT the
South, the fall trade IS opening up more
freely than was anticipated, with marked
improvement In business ana Increased
confidence as 10 the outlook at Jackson
Vile, Atlanta, and Augusta.
The improvement ga iron has had an
influence at Birmingham, and through
out the tributary region. an evidence
of which is found IN the temporary in
ability OF birmingham wholesalers to
meet the demand for hardware and
groceries.
ASIDE from the nrmness in cotton
goods prices. which is feature IN trade
circles North and East, the most con-
spicuous IS the continued activity u
iron and steel the highest quotations yet
reached having 10 effect IN resulctn.
the demand.
The present rate Of production Of pig
iron exceeds 10000 tons, the
largest in our history, or at the rate OF
more than 100000 tons per annum.
Lake cities report improved demand Tor
general merchandise, and stronger lake
frcights. At Chicago, relatively more
| orders are received from the South and
Southwest than ever before.
INCREASE Is COLLECTIONS.
Revised cstima~s from Texas point to
only half a crop. but trade IS active, and
the outlook favorable because of
greater relative increase in the price
of cotton than the reduction in the out
put. The Louisiana sugar crop Is re-
ported from 10 to - per cent. smaller
than last year. Further gradual in
crease in the collections during the past
few weeks, brings the aggregate nearly
to the billion-dollar mark again. being
$~N op.0p-about II per cent. more than
last week. is per cent. more than in
| the corresponding week one year ago.
and y gcr cent. more than ia the
second week Of September. 1893. But
as compared with the corresponding week
in 1892. the falling off is per cent. and
as contrastod with the like week IN
1891. the decrease is 10 per cent.
The tendency to the reaction In prices,
particularly among feed staples. con-
tinues, with further Liquidation in wheat,
Indian corn, pork, lard. and sugar Re
actions arc reported IN prices Tor cotton
/ and hides. ON the other hand, higher
coal prices have appeared at New York
| and Philadelphia. and the prospect Is
for further advances an along tho line.
IN addition TO higher quotations for
cedar, prices Of almost all standard va
rietes Of cotton goods are higher and
tend upward.
Then there is the 81 advance in steel
| rails, the latter now being on a parity
with quotations for bnlots. The total
Of business failures throughout the
| United States this week number 233, as
| compared with lSi last week 223 I'm the
second week OF September. 1Sgi: go in
that week in 1895, and il3 in the corrc-
spending period Of 1892.
II. G. Dun 60.
NEW YORK. Sept 18.-R. G.. Dun &
| Co, in their weekly review OF trade, to-
morrow. will say: 4 slght setback. which
means much or nothing, according TO the
/ hnal outcome OF the crops is not uncx-
| pected at this season. IL the Govern
| ment crop reports were correct, the SIT
dation would not be encouraging But
not much confidence is placed in the re-
I duc,d estimate OF corn, none al all ia
the estimate Of wheat and even the most
| enthusiastic bulls do not think IL worth
while to quote the Government report as
10 cotton.
The fact is that we are beginning 10
market not far from 2,2o0.00o.010 bushels
of corn, though only about 500eO000
bushels will be moved from the countries
where it Is grown; about 100000 bushels
Of wheat, OF which the farmers are un-
wisely holding back a large proportion
and about 100000 bales Of cotton. If the
latest indications are not erroneous. As
they very easily may be. TO add 10 the
stock carried over. The commerce here
and abroad amounted to 2,l00,S5S bales. on
/ September lst, and domestic mill stocks
were SGO.6lS bales. allowing not a single
bale FOR Increase OF stocks at southern
mills Prices have settled back little
during the past week, notwithstanding
the gloomy department report.
The wheat crop IS evidently larger than
! the department has estimated. though
] NOBODY Knows now lnQCn larger, ana Is
coming forward with more encouraging
rapidity. no less than 5.73.l7s bushels
/ having been received at western ports
! against 64i6,OO0 bushels for the same
week last year from much larger crop
| The price declined sharply about two
| cents per bushel with little Indication OF
| recovery. The price OF corn has only
| yielded with a strong prospect of the
! largest crop ever grown. and at IS cents
| al New York a large proportion OF the
crop VIII be OF little profit TO farmers
DRAIN AND COTTON.
II We are to have large crop OF grain
| and a small crop OF cotton, 1t is natural
TO infer that manufacturers may fnd
large transactions at the West. but not
at the South. There is. in fact. a very
large demand for goods at the West, ana
are equally large although the east
bound shipments from Chicago for
the four weeks of August amount 70 only
2i0.sIs tons. against 222.l44 for the same
week in 1894
The largest output OF pig iron ever
known. 1929 tons. is apparently sup
ported by reduction OF 64.o00 tons I'm
stocks OF pig iron unsold. but the fact
that the great steel companies have taken
large quantities. which are not included
in the official statement, renders the ac-
count of stocks less valuable. The mar
kct for finished products is a little weaker
with indications OF hesitation on the part
OF buyers at Philadelphia and Pittshurg.
although prices on the whole are fairly