The times. [volume] (Richmond, Va.) 1890-1903, 1895-11-23
TOO MUCH SPECULATION.
THE EFFECT OF UNFOLDING HAS
BEEN 10 DEPREss PRICES.
Railroad Earnings show Gain OF V'er
Ten Per Cent over Last hear-ir"h
and Steel Products Lower.


NEW YORK. Nov. 2.-K. 6. Dun =
| Co. will say tomorrow in their weekly
Review Of Trade:
Failures for the first half of November
amount to Ss.1i3,so5 IN liabilities against
&. COZ. 500 last year and S,2iS,-'9 in lS'''
Failures for the week have been ~
! in the United States, against 52 last year.
and A. In Canada. against 81 last year.
Reaction I'm business there IS none III
forts to explain Il or to attribute u 70
this or that temporary influence ~'0
When stocks bought in advance OF con,
| sumption haze been worked oil men VIM
/ be able 10 Judge what iihal az ,Iip ',ti'
IS to be expected, and mean iliie 49,
! are depressed 49, the selling o4 4ua'.1''.Ns
/ bought for speculation by TIE pressure o.
/ STOCKS for which consumers nave "ot -
/ been found, and by the idea thA9 F'-~~9
/ cold exports have been large, amount
! ing 10 e. 81 .UJy last week. ana presclhaol.
| TO $1,3,0OoJ this week, but ralIei i'S"i'
| than d cause Of existing cohd4'loNSS. an
/ \ little selling OF American stochs oii
| Tlr0Dcau account has followed IolceH
/ realizing ia foreign stock markets., Du, .
the new compact OF trunk lines promises
better earnings FOR railroads. though II
/ has 10 speculative effect. and INC co'h,-
carving roads are dong esperlaiy "ti.
] Earnings Tor tie first hait OF n oselllD'-
are inc Der reported for years, snow.
| q gain Of 1916 per Gene, over last year. dig
| ouly 3 per cent. decrease compared N''|
! lsg2.
THE COTTON MARKET.
Products are lower. without disturbance
| OF sian OF panic. The cotton IhdiN'1 mo-
/ been assisted all the week ~ sIn.ii re-
/ GENTS and remarkably stiH statements Vi
/ scarcity. but has gained sixteenth
I though some think short receip,S VIZ
. deliberately organized ~ planters, - -
| gins 10 be a decisive fact mat 'Siol' a.,
small partly because stocks tDio'l "lo
/ heavy and partly because the manhlc-
! turer abroad does not and "a market Ior
! the usual quantity of soods. -.
In this country the cotton H'alKe i' ,'',
! Jared better than most others es.ap'ho
/ an excessive rise ana the resulting ~
! cline. IT,,
While some prices were marked too hig1
! when cotton was above niht cents ~
arc lower, most goods are held az qlolei
prices. and lhc mills generally nave orders
/ 10 cover WORK into next year, but IL Is Pc
I coming q question Whethcr ic.oli on. iil ~
ZION has kept pace With mau-iatluLcI9
( orders or with sales 10 retailers
Iron and steel products are lower aver
/ aging per cont ion the week, prf CEN
/ IRON the highest, Bcsseinef, ahli-h.
| 10. J. ana bar being quoted lower, Nnlle
/ sales below quotations are 1fcolt M
| There Is frequent competition Tor otutis,
most works having Itue ahead ana IL"
/ business is remarkably small
Structural work is cut down by Inc
etri,ls az bo,ise-worLers here. and quite
number of mills. principally bar, nave
! stopped within a few days -.
The associations rcanlrm prices o''
don't sell enough 10 Keep WORKS busy
BRADSTREET'S
Rradstroers tomorrow viii say:
The check TO general trade, Wnicn mas
| been conspicuous for the past ic% wteNr'
| still continue. Insea sOnahly ml4 WtatH-
| or and rains have intensified TINS feature,
f.I. a.. fRrfsnIFfIBTE
| the decline in The price OF cotton ana
| consequent check TO shipments are hell
| to be partly responsible.
But the demand FOR staples increases
| on the aupearance Of seasonably cold
| weather. Tie result being larger oriers
| for woollcns. shoes, rubbers and holiday
/ spccialues.
Complaints are made I'm Texas Of r.
| duced shipments OF cotton, ana crop
estimates there are again lowered.
This is in contrast TO later reports OF
| the probable size OF the wheat crop
! which now place the amount at nearly
! 100000 bushels larger than the crop re-
port last spring.
turers are fairly well employed, they de-
care IT is without material profits
Wool remains quiet. with fair inquiry,
| although manufacturers are not adding
| 10 their stock. Uncertainty as 10 me
| prices Of leather checks buying OF SHOES
| by retailers which depresses the manu-
LESS DEMAND FOR IRON.
| There is less demand for iron and steel,
| and prices for standard varieties are low
or. about one-half of the years ADVANCE
| having been lost.
business failures show another marked
| increase. numbering 32j. throughout the
| United States. against 2i9 last week, -
| i'm the week a year ago, ana SS IN the
| third week of November, lS3. Inc bulk
/ of the increase is IN the middle and west
| ern States.
Notwithstanding continued evidence Of
| moderate reduction in the volume OF busl-
| moss in recent weeks. the value OF bank
| clearings continues OF large proportions
| 81 -, 0tO. (10-which. while ii Is 81. per
| cent less than last week. is fully 10 per
| cent larger than In the corresponding
week last year, nearly u per cent lareer
| than in the third week Of November 1875,
| and per cent. more than in the CORE
| spending week of 1872.
| No less striking than week ago IS
! the comparatively long list OF decreases
| of prices for staples. among them Besse-
mer pig iron and steel blle,s; wheat, corn.
oats pork. lard. and coffee among food
| products. anu cotton, petroleum, hides,
| and live cattle and hogs
| Practically unchanged quotations are re-
| ported for turpcniine and rOsln, tobacco,
| leather. lumber, and coal
Net railway earnings reported TO Brad
| streets by roads representing - per
| cent. Of the railroad earning capacity OF
| TIE country point 10 a steadily-sustaincd
| growth IN the volume Of net receipts for
/ nine months of the year as compared
with "a year ago.
Gold Shipments to Europe thi7 week
! have been very heavy. amounting TO S,2JJ.-
| ti. The outflow OF specie vas apparently
| swollen hy calling in balances due in
/ Europe hy bankers here. Foreign finaa-
! cial troubles have suppl cmentcd the dis
| a.