The times. [volume] (Richmond, Va.) 1890-1903, 1895-06-15

ENo0URAGTNG REPORTS AS TO THE
CONDITION or BUSINESS
Come From all Parts OF the Country =
Bright Outlook for the growing
Crop-Iron aud Cotton.

NEW YORK. June H-R. q. Dun q
Company's Weekly Review OF Trade to-
morrow will say:
1t is no longer a question whether busi-
ness improves. Not for long time have
our reports from all parts OF the country
been so uniformly favorable.
The daily average OF bank clearings In
June is 24s per cent. larger than last
year, though IA lower than 1892.
The most potent influence has been the
receipt OF more favorable advices regard
ing the growing crops. Even official state
ments helped because altogether less
gloomy than previous rumors.
Labor troubles are getting out OF inc
way, wages In many establishments are
rising and with the iron industry just
now leading, there is general improve
ment In manufactures.
Monetary con iitions also help. The time
draws near when, with good crops eS-
ports will bring gold hither, and bonds
having been insignificant this week the
effect OF previous transactions has not
been exhausted.
Much diminished receipts of money from
the interior indicates better employment
and the value OF commercial loans stead
lily rises, and Is now fair for this season,
even in a good year.
THE COTTON CROP.
The official statement OF AS decrease In
cotton acreage was quickly found, in
view Of the revised government estimates
for last year, to mean more than 2o,cN,oO
acres now in cotton. which much exceeds
the best unofficial Is timates. and from an
area 10 greater over 100000 bales were
produced in 1891. so that the report gave
no aid 10 prophets OF evil. That some re-
duction would be well FOR the South IS
clear. but the heavy surplus viii cover a
larger loss than seemed possible. The
price has not changed. but transactions
have become Insignificant. though rainfall
and temperature are closely watched.
Manufacturers abroad. according TO Ill
Tyson. have stocks 2S90oJ bales greater
than a year ago, and the commercial
stock OF America IN sight Is still 800, Ao
bales.
Cotton mills are doing we'll for the
| season. and numerous advances OF an
| eighth to q quarter in brown sheetings.
drills, hleached muslins, denims, and tick
| ings are still reported.
The wool manufacturer looks for speedy
| settlement OF the labor troubles. and finds
| a moderate demand for low and heavy
weight goods, while some OF the cheaper
/ lines OF the spring goods have been
| opened with hourishing results, but as to
better grades there is still great uncer-
tainty about prices
TIE IRON TRADE.
The output OF pig iron June LIST was but
| tIlHe larger imam May Isl, lJt, "a tons,
| against 1864 tons a month age and
| 1899 two years ago.
Stocks unsold were reduced I'm May
| n, o97 tons by stoppage OF many Mahon-
| ing Shenango. Illionis and Virginia fur
naces, which afterwards resumed.
The edvanc in spring continues. Bes-
semer pigs reaching sl2 40 and gray forge
1905 at Pittsburg. and changes IN all
| iron products show an advance OF 81 per
cent. this month, and 1873 per cent from
| the lowest point In February
For this conservative industry the rise
| OF n per cent IN Bessemer iron seems
large. but 1t compares with 80 per cent.
| on cotton. SO per cent. in wheat, o TO 10
per cent In leather, 80 per cent IN re-
| lined oil and over 100 per cent. In hides.
All these products were at Tho lowest
prices ever known. and remarkable gains
| were 10 be expected when any came. but
| with each consumption has yet 20 justify
| advances.
| The coke producers about connells-
] VILE have not made open declaration or
| their new compact, but contracts are
| being made at sl.35 for the last half OF the
year, with provisions for advance OF
| wages rise.
Failures for the past week have been