Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-09-28
THE STATE OF TRADE
Reports Of The Week Is 10 Monetary
Matters Highly Encouraging.
THE RISE IN COTTON PRICES.
II In No Longer Possible to Hope for
q Good Crop Of the Southern
staple-Gold Exports Disquiet-

NEW YORK, September. T.-Messrs.
r. @. Dun & Co.. in their weekly re-
view of trade tomorrow. will say
The full statement OF about $500 COM
mercial failures for the third quarter OF
1885 will be published next week. and
will show liabilities Of about $3o,oo,oOo
of which about sll.OCo.oco have been OF
manufacturing and sl7,eOO,oo0 of trading
concerns.
In the same quarter last year the
failures were 2sSs. and the liabilities
S2941l.l96. OF which $12,33l,ss2 were Of
manufacturing and s5,lSl,230 Of trading
concerns
The weeks reports are highly en-
couraging as to monetary matters. al
though exports of gold still continue;
and also as to cotton manufacture. but
are not as satisfactory regarding iron.
woollen. leather. or silk manufactures.
The speculation in cotton has lifted the
price SIS during the past week. and quo
tations here are so much higher
than at Liverpool that free exports can
not be expected. IL seems no longer pos
sibe TO hope for a good crop. and NELL
BFOtncTS nave issued n circular pEcuiCt-
ing a yield OF only 100000 bales. The ac-
counts OF injury and loss grow more dis
NAL each week. and while they may be
somewhat exaggerated. the general out
look Is decidedly unfavorable.
But for the extraordinary supplies car
ried over from last year, the manufacture
ers here and abroad would be in
trouble. But prices OF goods rise each
week. adding to the profits of mills,
which on both sides Of the ocean can
use for some time to come old cotton
bought at low prices.
IL IL not yet clear how far the con-
sumption will support the manufacture
at the present rate, and at present
prices for goods, though the demand from
dealers is naturally urgent while the
market for the raw material Is con-
stantly rising.
There is still some chance OF strike
| I'm Fall-river mills. though the rice in
| prices Will make Ii easier for the mills
| to grant some advance in wages.
| Nothing is clear about the iron and
| steel manufacture, but some OF the
| largest Pittsburg concerns, processing TO
have orders for many months ahead. are
bidding for small contracts In eastern
markets at 81 to $3.50 per ton less than
| the quoted rate. Some say that II Is
/ uOne 10 uepfess the Hidihct, anu dbdhi
| II IL thought that object may be to buy
materials. but contracts have been made
at the East for 10000 tons Of foreign
| ore to be used in Bessemc-- fron-making
at eastern furnaces. and the termination
OF the Marquette strike sets free about
| 10000 tons Of Bessemer ore within the
price of lake navigation.
The strike of cokeworkers at Connells-
| Vile seems to have been avoided. The
Iron Age reasons that nothing can ex-
plain the situation except some large
movement In steel rails not yet made
| known. For the first week In many
| months the average Of prices OF iron
and steel product shows no change what
ever. though the demand for finished pro-
ducts is distinctly reduced.
The exports Of gcd, though not as
large as they were some weeks ago
cause some dlsquietude. owing to the dis
banding OF the bond syndicate. Money
has gone TO the interior rather largely
and there is considerable increase in the
| value of loans.
The failures for the week have been
ZIG in the United States. against 235 last
year. and fifty in Canada. against fifty
| last year.