The times. [volume] (Richmond, Va.) 1890-1903, 1896-05-09
BUSINESS LOOKING UP.
GENERALLY FATORIBLE INDICA-
TONS REPORTED ron THE WEEK.
The Enlarged Volume OF Bank Ciearings
shows "a Pcrceptibie Though Gradual
Increase In Business.
NEW YORK, May S.-Bradstrcct WI

NEW YORK, May S.-Bradstrect VIII
say tomorrow:
relatively unfayorablc features or the
general business situation this week in
clude unsoasonably cool weather Which,
al scme centres. has checked tracr.
In Texas further improvement in the
cotton crop outlook has stimulated )oD-
bers 10 send out travellers to anticipate
demand. and the region OF which Chat''--
uoora Is the commercial centred s en-
Toying the results OF an cAlei-S'o'' "a
truck gardening industry
aavanDars rosin ana turpentine re-
CENTS ana shipments are quite active
The outlook for wheat in eastern OIts.I
IS bright, anu the Xix IS true OF Nam
sas, NebIaska, and Iowa. ,
More importamt staples for when prices
are higher. are cotton. piiht-clo'ns' IN
dian corn. oats. lard, and cohee' N'"o
quotations for pork, coal. and lumner re-
main practically unchanged. y sale OF
wool Is reported at Boston at lowest
price on record" from which IL may
be inferred that bottom has been reach-
ed. Wheat flour. sugar. petroleum. be9-
semer pig. and foundry irons have IKE
wise been shaded IN price.
The evident, though gradual increase
i'm the volume OF business, during the
past two or three weeks, shows ltsef III
an enlarged volume OF bank ciearinss-
The aggregate for the week IS Sl'lSo'V'-
OOl. or 10 per cent. more tnan last week.
but only seyen-teuths Of one per cent.
larger than IN the first week OF May,
1870, although % pcrcen I. larger IMAM
I'm the corresponding week of 1871 IS
compared with the ike period in 1873. the
weeks total clearings snow decrease
of II per cent, and as contrasted Win
1895. although % per cent. larger than
There are PSI business failures reported
throughout the United States this week,
as compared with "a last week, "a IN
the week one year ago, ls9 IL the first
week of May. 1894. and as compared with
10 in the corresponding week OF 1893.
r. G.. DUN & co.
NEW YORK, May S.-R. G.. Dun & Co..
in their weekly review of trade, to-mor-
row, VIII say:
That exports OF S5.S,O.OCO gold this week
have produced no monetary disturbance
Is at once proof Of the soundness OF
financial conditions and Of the prevailing
confidence in better things 20 come. II
does not matter whether the gold H. re-
CURED for Russia or anywhere else, IL
would not 90 from this rather than other
countries Il there were not balances 10 be-
met.
Much Of the hesitation at present is due
| TO temporarily reduced demand in some
| Industries. and i'm iron and steel the power
/ of the new combinations is being general
/ ~ tested by refusal OF orders. 50 that pro
/ duction exceeds consumption, but con-
/ sumption exceeds new buying. The gem
I eral irregularity OF prices and slackness
| OF demand for finished products do not
! prevent the marking up Of prices by com
/ binatiOns but are largely due 10 doubt
! whether such prices as are fixed can be
| maintained. Pig iron is weaker at The
| East. and also ut Pittsburg. and most
| finished products are weaker with re.
| markedly narrow demand
! For textile manufactures the situation
/ IS trying. Cotton mills have a ialrly ac
! tive demand. though not equal to theii
! normal output and for many months have
! been accommodating goods. hoping for bet
ter things. 50 that some are now stop
| ping, although the demand for some
| grades. with higher prices for cotton. hai
! helped to a small advance I'm prices
! Print cloths are an eighth higher, but
some other grades have declined, so thai
! the average of all quotations IL slightly
| lower Woollen manufacturers find price
! Of wool sagging, both here and abroad
the decline at London having reached
| about per cent. while the average ol
| quotations by Coates Brothers, Philadel
| phia. was nearly / per cent. lower May
! 1st, and prices have been further reduced
by concessions 10 clear off stocks.
Cotton speculation has lifted the spo
price 10 s.3l cents. and profits have beer
| realized from the men who have sol'
cotton they did not own. but il Is still
the fact that the outlook for next fall
| crop is unusually favorable while stocks
mere and abroad exceed all possible de
| mands until September lst.
Failures Of the week have been 23S II
the United States. against 90 last year
and p in Canada, against "a last year.