The times. [volume] (Richmond, Va.) 1890-1903, 1895-04-20
THE SPECULATION EVIL.
IT'S RAD AFFECT FEARED IN THE
CASE or OIL AND WHEAT.
Cato, I'm No Larger Temnnd Than When
the Price Was Lowell hect OF INC
Rise in the Price of Beef,

M
Company's weekly review OF trade to-
morrow will say:
In every speculative department bust
ness is growing, but this IS really the
least satisfactory feature OF the situation
Cotton. oil and wheat climbed above the
export price so that the marketing OF
products abroad must be checked and
money Is absorbed which ought 10 be
emnIoved I'm productive industry and in
distribution Of products TO consumers.
Everybody knows that oil mas not risen
40 per cent. because 1t IS intrinscally
- ,.al,abie nor is wheat actually
worth more than il was two or three
,,,cels AGO hut the expansive and up
lfftfue fear has unfortunately taken 10
epaouIafion rather than 10 production,
and so we have higher prices III an specu-
lative markets without a larger demand
for consumptiou There ~ no evidence
that cotton ia in larger demand tnah u
WAS when the price was cent io"c''
but prices have been so low ior months
that an upward movement was SasS
without much reason. though STOCKS mere
and abroad are 10000 larger than they
we're the same date after the greatest
cron ever produced heretofore, ana SPIN
,ers hero and abroad have taken about
10OOoO bales more than they nave coh-
sumed The rise tends 20 prevent the ue-
crease Of acreage which Is its one fea-
sOnablc excuse.
n.sR ~ 1ur PRICE, or BEEF.
outside of speculative markets the
most important feature Is the rise III ,.io
nrice OF beef. but which Is largely que
10 the control OF sources OF supply Dy
few ,strong corporations. There ought
10 be. but apparently IS not suiheien.
mower in the hands Of the Government
10 meet any such conspiracy asH''''.
the public. and the proposals or secretary
Morton 10 admit Mexican cattle ana cat
a. I'm, canada ON easy terms for the
benefit OF Consumers. is heartily com
,nended though 81 is not hkeiy 10 nave
much influence The actual decrease III
receipts of cattle at the lcul chlti "'9'
ern markets has been 200 0D head during
enc e,st quarter of 1895. and the quantity
killed has been only 5000 head less IMAM
last year about 10 per cent, Dut Iar,s
have little to do with prices III 'i''
case. as I'm the case OF on.
La iron and steel the situ"i'h - ran
or dlsappointinq. although the output coH-
| ,iruos large. as the demand for finished
,r,,u.ts does not seem 10 Increase.
e+ructural forms arr Ia lafg. tenant
t,,. s,1oa ~ wire are about 30 per cent.
less than last year. and 100 0lher bfaush'S
/ there is no pcrceptibe gain. II is SIN an
cpcn question whether the c'nsumpuo }
/ will support the manufacture az IN pre-
emit rate. which is within at least an
| eighth below the present maxim.
ADVANCE IL WAGES.
Some large textile mills have advanced
wages 1T Fan River about 10 per CONT
restoring the rates paid after me Feau'.
/ ton an September, lSG. The labor
/ troubles are comparatively less serious
/ Ills week. and the tendency is toward
! large returns for labor, which VIII M
crease the consuming power for other
/ products TIE cotton mills are encour-
/ aged by improving prices, ana are fairy
! busy.
Money markets arc comparatively dull,
/ and accumulation from the IN ner circle
continues. The government deficit In the
month Just past is over l00p.00o and no
| reason appears 10 expect that 10 Will
much diminish. Failures for the first IL
days Of April amounted 90 234l3.l65. OF
/ which 81, i2f1s were of manufacturing
and 81 1921 of trading concerns. Ia'lun es
during the past week have been 2n I'm the
/ United States, against 2l9 last year, and
/ % I'm Canada against A. last year.
CONDITION n THE SOUTH.
NEW YORK, April l9.-Bradstreots to-
morrow april 20th will say:
The volume Of general trade has main
tanned the previous weeks proportions.
and az some points shows noteworthy iu-
( creases. as compared with the total a
/ year ago.
Al Further advances i'm quotations are
noted also for wheat ON improved de-
mand for export. cotton. on Il widenel
consumption, present and prospective,
| print cloths and other cotton goods. be-
cause Of higher raw cotton.
General trade conditions a. the South
are no better, AMI. i'm some respects. less
satisfactory. Improvement in demand is
! not announced at any point I'm Texas
high winds and lack of rain have hurt
crop prospects and farmers i'm some lo-
calities have not planted set.