Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-02-16

Gold Exports ana Withdrawals
Iron aud COtt0n-NOncy Market.

Iron aud Cotton-Money Market.
NEW YORK. February 15.-R. G.
Dunn & cos weekly review of trade
tomorrow vii! say:
Another weeks exports OF gold and
Withdrawals from the Treasury has been
almost entirely stopped by the contract
for purchases of gold from Messfs. Bel
mont and Morgan Though ito details only
became public Thursday, and were quite
sharply criticized by many, the fact
should not be forgotten that the rate Of
exchange was in fact controlled. gold was
actually started hitherward from Eu-
rope. and there was entirely arrested, at
least thus far, the rutUsrl movement
which had seemed within forty-eight
hours of cmptylng the Treasury Ciose
criticism of things done in such stress
comes later For the moment business
only waits TO know whether sales Of
American securities and Withdrawals of
gold from the Treasury have been last
iugly stopped by the remarkable increase
Of confidence. The reViving confidence
has not only prevented withdrawal of
gold 10y Americans in the main. but sales
of American securities by foreigners have
been nearly, If not quite balanced by
purchases.
THE TWO OBSTACLES.
The two obstacles wMch block the
path just now are the exceeding cheap
ness Of farm products and restricted
operations in the Industries. Restricted
purchases by the West and South netu-
rally result. The output Of pig-rOn
February LIST was 1Zsl tons. against
los. a. weekly. January lst but the
stocks remaining unsold were 1893 tons
against G4j.iiS January LIST. This indi-
Gates "A decrease Of 16.137 tons in actual
consumption weekly during the month
of January. The severe storms In Febru-
airy have further curtailed production
Sales of steel rails were only 10000 tons
in January. and the weather has ar
rested structural work. ana retarded de-
llveries Of all kinds
A BETTER INQUIRY.
Tut there appears a better inquiry for
some finished products especially in wire.
Wire-na.ls and barbed wire. the business
Is encouraging. Pig-iron is unchanged I'm
price here and at the West. though north
ern sales are pressed, and the demand for
bar-iron l. about the same.
Continued dulness is reported in cot
tons. and q reduction Of prices by the
AmoskesR Mills causes some hesitation.
Ir the main the works are we'll EN-
ployed. but with extremely scanty profits.
ana l0tle Is COnSlleFdblt upupt WHITTIER
market Will he found for accommodating
stocks OF some goods.
THE MONEY MARKET
The money market shows a tendency
10 strengthen. ana some what larger offer
ipgs Of commercial paper appear, though
not In proportion to the reported ac-
tivity Of mills Doubtless many are work
ing only short time, but an Improvement
IS encouraging. \ somewhat closer mar
kct is expected as a result OF the bond
transactions.
The failures for the first week of Feb
rrary show liabilities Of only $500 $50
Of which s729.3is were of manufacturing
and $l,93l.s94 Of trading concerns. The
final report for January shows an az
cregate Of sl5,6379S', against s29.Si3,O2S
last year; Sc. 992. Dos were OF manufacturing
concerns this year against Sl5S. 1l5 last
year, while sll.S26.l05 were of trading
concerns against sl7.23i5S7 last year.
Failures for the week were 30 in the
United States. against S2S last year; and
81 in Canada, against 81 last year.