Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-06-13
a cure IOr every disease
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The STATE of BusIncss.


The progressive gain in business Is IL
Illustrated In the summary OF bank clear
ings reported by the Financial and Com
mercial Chronicle. The increase since
January ist compared with last year,
was 1874 per cent: the increase for the
month of May was PA per cent, and
the increase for the wee. ending June
Sth. partly estimated, Was 275 per cent.
The Stock Exchange clearing transac-
tions for May were in excess Of those OF
May, 1895.
Last week stocks were generally dull
and the trading was mostly professional
owing In the main 10 inactivity in Lon
don, where there are fears OF the culml-
nation Of the Kaffr speculation this
week The reduction in the dividend OF
the Chicago and Northwestern caused
much selling OF "Grangers," and rumors
of the condition Of some minor proper
ties caused free selling In other direc-
tions, especially of the coal roads Ex-
change was strong and at about the
highest point OF the season, OWING 10
the suspension Of the London purchases
Of stocks. but the syndicate still con-
trolls the market, and no fears OF soli
exports are expressed. London was
heavy bidder on good investment bonds
sending forty-three millions OF dos LOT
the new Allegheny Valley fours. Money
WIS .osv speculation absorbing but lit
tie. and better mercantile ana manu-
featuring demand has not adFaneeu
rates. But the prospects are falr ior
harder market soon, when the crop move
mont begins TO draw money to the South
and West. .,-,
In a large norton Of the wheat country
,here were rains last week that materi-
ally improved the prospects. Repor's Oh
condition are too fragmentary anu tpo
conflicting to afford a solid basis LOT
circulation: but while the winter "ncd'
crop. IL is known, well be short, ana ltere
are unfavorable reports as 10 spr'ns
wheat from some sections, the reports
rronn other sections OF the Northwest
and from the Pacific Coast are exceed
inplv favorable. and in general the crop
prospects are good so that the reuuo-
lion of the Northwestern dividend causes
a good deal OF surprise. Early III tne
u,eek wheat lost almost three cents IN
chicago in consequence Of improved pros
pects. and the Prairie Farmer hi'l,'e
an estimate Of 446,O0O,0Do bushels TOT uie
entire wheat crop; but later In the wees
wheat recovered nearly Tour Gems; ~ ~
~ r-Iv oution touched Sac. an' the
sentember option went cent hisher
-. ..,., ,,arN.t lnere was decldeu ~
yc.rd movement in wheat the la'ter
rart NJ the week on an unlaVoraoie
summary In the Price Current anu re-
,orts ~ shortage Of 200,O0OW bushels
- Furonean rye. On Friday Liverpool
led in the advance for the first time IN
weeks. and yet European prices coh-
tinue low. -, ,-re,,,,,r
Cotton speculation has been irresuia,
and vacillating, awaiting the lspoi ~
the Agricultural Department to-uaS on
cher Information. The tinanclai anu
Commercial Chronicle publisher us re-
view OF The situation, figuring out Ie
duced acreage of 11.6 per cent. as against
a reduction Of 1875 calculated rev ia!
ago by Latham, Alexander ~ W. anu
Indicating that the crop is not only iate'
hut on the whole not in so good con-
dition as year ago at TINS udte' ~
circular of Violet Atwood ~ Co. us
cussjng the Chronicles report haheS
a rough estimate OF b'Si5,VV pdles' ~
in the week crop conditions showed an
Improvement. ,.....,, -
particularly carpet woods. OF which
couple OF million pounds have oeeh tdAeh'
with more in prospect a million anu "
half pounds of Chilean wool, was solu 70
tue manufacturers and the safes OF
foreign woods In this market since Janu-
nary LIST have exceeded nineteen miihon
mounds as against little over eleven
million pounds last year. tine WOODS ar
held firmly, and manufacturers sho" ho
haste in buying. ~,
EvIdances ~ the hardening tendency or
the market for both brown and bleacheu
stanIe cottons were again furnished last
week in various advances OF an eiShth
IN a fourth OF cent per yard reporter
from day 10 day, notable feature DeinS
the upward movement IN me piowh
sheetings of Eastern manufacture. Inc
market for raw cotton rs stu support
ing influence. but even apart from 'hal
the goods market Is hardening on It's own
merits. The warmer weather mas helped
the distribution OF stocks or hgnt cotton
dress fabrics, but has not eliminated IT.
regularity OF prices. The more staple
lines of printed calicoes and staple ginS-
hams are firm. \ fair business In new
nr1nts for fall was done during the week.
and from opening indications prices are
likely to rule about per cent. hiSh i
than the regular price OF spring prints.
Business in the woollen- goods department
has again been quiet as a rule. There Is
some improvement in orders Tor hedNy-
weight mems wear in medium ana low
grades, and a good demand for mohalr
dress goods; otherswise business was light.
The principal advance OF wages during
Works. where the wages Of nearly four
thousand men were restored to the rates
of 1892 In several other concerns. mostly
iron and steel, but including a woollen
company, there were increases, usually
OF 10 per cent. and these are IN most
cases stated TO restore wages To the
standard OF 1893 II these statements are
accurate, the reductions OF wages Two
years ago were less than generally under
stood, or else the men have been re-
covering piccemeM the wages then lost.
In the iron and steel trade the increased
demand has been continued, and prices
nave everywhere either increased a little
| or AT least shown a tendency 10 increase.
Heavy sales OF Bessemer pig In Pittsburg
and the Mahoning Valley have carried
the price up to sl2 At Pittsburg there
| is reported a fair, healthy demand. with
| sellers making no particular effort 10
| sell even at an advance Of 20 cents,
and with all the establishments In and
around Pittsburg well sold up. At Cleve-
| land the demand gives no signs OF re-
| action on one hand. or a boom on the
| other. Lake ore freights are stiffening.
| and finished iron and steel is advancing
| along the whole line.
There has been a good demand for sole
| leather and IL was almost exclusively for
| consumption, but the export demand is
| light at present There was some inquiry
| from Northern Europe. Prices are I'M
| changed, but firm. There has been a good
| demand for dry hides, with small sup
ply. and small advance In prices.
| There have been considerable arrivals.
| but they were on purchases by tanners
earlier in the season. Salters have been
rather Indifferent sellers and at the close
! OF the week some of them were trying
! 10 get better prices.
The Keeper of the Great Seal
| A Washington letter says: An interest