The times. [volume] (Richmond, Va.) 1890-1903, 1896-03-28
WEEKLY TRADE REVIEW
TRADE DCLLAND UNSATfSFdCTORf
EXCEPT ar A FEW POINTS.
The Most Encouraging Feature IL the Ad-
vance In Prices of Wheat, Indian
Corn, and Bessemer Pig Iron,

The week has brought more favorable
weather, which tends to create a better
feeling. But trade, except at Baltimore,
Minneapolis, st. Paul. and Chicago. and
TO a moderate degree at other points,
remains dull and unsatisfactory. The
| most encouraging feature is the advance
In prices OF wheat. Indian corn, and Bes-
semer pig iron, the latter being based ON
| the higher value placed on lake ores.
The check in demand for groceries and
| provisions at the South is due to southern
planters having raised larger food crops
| this year. Heavy feceipts OF vegetables
| at southern markets are followed by re-
ports or large crops thereof In sight.
| one or the most unpleasan, features Is
lack OF Improvement IN mercantile collec-
| tons
Total bank clearings continue the re-
cent downward movement. and furnish the
| smallest total for some weeks. $S91, ,oOU,-
| 600. or per cent. less than last week.
and only per cent. larger than in the
| fourth week OF March, 1875.
| Wool in some instances has been shaded
| in price. Trade In wool is almost al a
stand-still aside from a few sales made
| for export Foreign d.ess wOoliens are
1
| look for American fabrics.
| Additional woollen mills have closed for
lack OF orders. Raw cotton is lower,
| presumably on reports OF a prospective
| large crop. The heavy movement OF
| ginghams appears TO be the outcome OF
| drives and auction sales the effect of
which on other fabrics Is depressing.
Large accumulations OF white cotton
are reported. The Providence bankers
state that cotton manufacturers sought
loans there to help them to carry the ac-
cumulated stocks.
Heavy mercantile failures have a tenn
porary effect on trade, and in instances
have caused a closer scrutiny Of credits
and n check on sales and distribution.
Only 2s6 business failures are reported in
the United States, compared with 300
last week. but an unusually large proper
ton OF them are of comparatively heavy
capitalized concerns. The total number
of failures In the week. year ago was
232.
r. G. DUN & co.
NEW YORK. March 27.-R. G. Dun &
Co. will say tomorrow in their weekly
review OF trade:
The returns OF failures are some what
disappointing. Several OF magnitude were
mentioned a week ago. and they nave
swelled the aggregate Of dcfaulted la
hilitles for three weeks Of March 10 ST.,
3s3Gl4, against Sil.27l.l2l last year y
heavy failure In Texas will also swell the
aggregate OF returns for the past week,
which includes $50 I'm the United States.
against 234 last year, and 30 in Canada,
against A. last year.
No Important change has occurred i'm
the general condition OF business during
The week. and If trades In some respects
look worse. M othor respects they look
better Some failures Of magnitude have
occurred which have caused much ap-
prehensicn and unwllllngness 10 lend
among bankers. and there have been
somewhat less favorable features I'm the
dry goods market. but in iron and steel
conditions are slightly, and in boots and
shoes considerably. more hopeful For
egn tade is little more satisfactory,
exports from New York for three weeks
showing an increase over last year ot
q per cent, while imports have shown
nearly the same rate OF decrease. IN
general. the course Of domestic prices
tend to favor the marketing of staples |
abroad
Cotton had a lively rise with the cover
ing Of short sellers. but began 10 decline |
again a week ago, and has been tagging |
ever since. The receipts from pianta-
tions continue quite as large as IN the |
same weeks of the last short crop year, |
and stocks IN sight with the quantities |
known to te held by European and Amer
lean mills. make up an ample supply lor |
the rest OF the crop year. IN me Ciy /
Goods market the latest Indications 90 |
not warrant expectations hat ID mills /
will continue full production throughout
The season The demand for women |
dress goods Is the best feature OF the
woollen market The sales Of wool have
f...fF ,r|Ifr rs.fsl . i
fuu consumption. amounting est week
10 only 2.gaG. $50 pounds at ne chief
markets. 4 striking feature n IS week
has been a sale of 10000 pounds oi
American wool for shin nsnt 10 L"giahd'
IRON MARAET
The iron and steel ria-kcts taNe cis-
closed "a similar feature. for fitf'e Ala
hama pig iron has been sold for export
by the Sloss Company, though ie" I'M
agine that much bust less OF iia. SOFT
is possible. The combind ian of laae ore
producers has at last ANNOUNCED ltS l.''s
Tor the coming season-S4 Tor iiHi-class
Bcssemer. $40 10 S3.IJ for Mesand, era
s. for non -Besscmer ores-and Il Is tal-
culated that with coke no = per ton
Bcssemer pig can be produced at shcul
SIPS at Pittsburg, which IS NJ" me
current price there. But the slow mar
kDfluZ OF Ill1N'A ~ ""~Nt ."
main trouble There has been a LtiIt
moro activity this week. aud the Cafn.H'e
Works have sold 10000 steel 'ais 70
raoau. thus scoring n noteworthy sue
ecss but in the main the market Is cDout
as inactive and insufficient as Il nas been.
The It0n Market.
CLEVELAND. O.. March 2s.-The Iron
Trade Review to-day says:
The important event Of the week was
tho announcements Of the price for 1870
n Lake Superior Bessemer ores. The
base is the expected - for Norrie ore.
For the best Msssaba product, $40 Is the
figure other ores on that range scaling
lowrn 10 to 60c below this price. The out
,ut OF Ressemers IL is now expected VIII
r. about - per cent less than the amount
alked or in December. Something may
.ome vet OF the talk Of a better basis for
ION Bessemer ores also. but there i no
.ction in that direction as yet. The mar
,et response to the definite announce
nent OF the increased cost OF a Besse-
ner IS not yet strongly defined. Such
market could not quickly respond TO any
impulse toward higher prices. Billets are
irmer on late deliveries with Si7.25 as the
oittsburg basis. though a sale in the
cleveland district is reported TO have
made the lowest price OF the year. South
IN furnaces have hao week OF heavy |
BUSINESS In forge iron with pipe works
nd rolling mills and several contracts for
oundry grades were made by buyers who
ppreciated the situation. Gray forge at
30. Birmingham No. foundry at N.25.
nd No. / at s.. represent heavy cuts IN |