Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-09-19
THE STATE OF TRADE.
Improvement of Past Few
Weeks Continues.

NEW YORK, September 1S.-Brad-
streets tomorrow, September 18th, will
say: The moderate Improvement in trade
of the past few weeks continues, and is
emphasized by further speculative pur-
chases of wool, renewed buying by wool
manufacturers, the reduction of surplus
stocks of cotton goods, increased demand
for seasonable fabrics, continued conf
dence among manufacturers of iron and
steel that there will be an early revival
in dmeand. and Improvement In request
for staple goods in the South Atlantic
and Gulf States.
The volume OF sales of general mer-
chandise shows a small gain over last
week. and the feeling among wholesale
merchants is one OF more confidence IN
a comparatively early Improvement. I'm
eXpectedly, large sales of dry-goods are
reported from Boston, Chicago. and St.
Louis, with indications that they may
continue throughout the month. Much OF
the gain at the Souh is due to the rapidity
with which the cotton crop is being gath
cred and marketed. New Orleans reports
that the banks are lending more freely
than was anticipated. and that the out
look Is consequently more encouraging.
More cotton mills are starting up. but
there Is relatively less Improvement in
woollen goods, varieties which sell well
being the exception. Shoe manufacturers
report little doing beyond selling samples
for spring delivery, and few case orders
likely until after the election. Mercan-
tile collections are almost universally
slow, some centres reporting them almost
impossible to make. The money markets
are somewhat less stringent. but rates
continue high.
nd steel nricQc frrpQr In flQ
expectation of a revival after the election,
and quotations Of leather are firm on the
advance in hides. Sugar and cotton quo
tations nave been lower.
The total number of business failures
throughout the United States this week
is Sl5, which Is seven more than last
week. 81 more than In the corresponding
week last year. 81 more than in the like
week Of 1894; 81 fewer than in the cor
responding period of 1893, and not quite
twice as many as in the like priod of 1892.
The Increased proportion OF the number
of failures Of concerns with large capital
iZation continues noticeable.
Messrs. r. G.. Dun K Co., I'm their week
ly review of trade tomorrow, will say:
There is still no distinct Improvement
in business, although conditions favor 1t.
Confidence slowly rises, speculative buy
ing Of materials for future use continues:
imports of gold do not cease. and the
Bank Of England has not tried TO check
them by further advance in rates, as
the weight of the demand now falls upon
France. But an enormous business is held
back until the future is more clear. Out
side OF speculative markets, the impress
sion grows that certain and safe revival
may not be expected until November
In cotton hides, wool, and pig-iron.
buying openly speculative in character
marks the current business. Resumption
Of work by good part Of the Fall River
cotton-mills and advances in some kinds
of cotton goods helped to raise the price
Of midding uplands to SIS cents again,
though realizing 1t sent down to Slk cents
The favorite speculative estimate which
was about 10000 bales in error year
ago, alarmed many by naming 10000
bales as the minimum and 100000 as
the maximum. a range wide enough in IT.
self to suggest doubt that either quantity
with stocks carried over is more than the
world has even consumed.
The one industry showing increase OF
working force is the cotton manufacturer,
restriction of output having secured much
healthy demand for some goods. Most of
the mills have started or are about TO
start, though the uncertainty of the cot
loU MARKET Lie ptlNtS VI
staple goods have advanced so generally
that the average OF representative quo
tations Is 81 per cent. higher than in the
first week of August.
The iron and steel manufacturer Is
still waiting for business, with nearly
ha,f of its producing capacity idle. but
and the speculative buying
OF pig-iron sustains prices. Sales said
TO amount to 25.0o0 tons have been made
of Alabama iron for shipment TO England.
but the home demand does not enlarge
at ALL and the various associations still
hold common prices though the demand
Is remarkably slender.
Gold imports continue. over 100000
have been ordered. making So, 3s5. 600 in
ali. of which about s2I. $50. 900 has arrived.
The interior movement draws Off the
money about as fast as IL comes. si,65o.o0o
having gone westward this week. The
New Orleans difficulties have passed. but
the Northwest Is making large drafts.
Recent high failures increase the caution
Of banks. and while more commercial
paper Is offered. the ruling rate OF
per cent. greatly retards increase In
business.
The failures for the past, week have
been si7 In the United States. against 2is
last year. and 80 In Canada. against 20
last year.
A Mann hvfenu n ~ .uus