The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-08-22
CONFINED TO STAPLES
Is About the State Of Trade Throughout
the United States at Present.
INCREASED EXPORTS; LESS IMPORTS.
Exports for the Last Two weeks ne
New York Have Encreascd Twenty
Per Cent, While Imports Have
Decreased Twenty.One Per Cont
American Hallway Iron for Japan.

Decreased Tuenty.One Per Cont
American Hallway Iron for Japan.
New York, Aug. Pr. G. Dun G. Co.
Will say tomorrow in their Weekly Re-
view Of Trade: Failures for the week
have been 2S0 in the United States,
against 222 last year. and "a in Canada,
AGAINST 43 last year.
Political events of the week had no
definite influence upon business pros
poets for the phenomenal variations in
sterling exchange, and the beginning of
imports of gold, although following the
great meeting in Madison Square Gar
den on Tuesday, may fairly be attribut-
Ell to the accumulating excess of mer-
chandise exports over imports. to which
attention has been repeatedly called,
experts from New York for the
past two weeks having been 20 per cent.
larger and Imports here 81 per cent.
smaller than last year. The rapid move
ment of grain and the unusually early
marketing OF cotton tends strongly to
aid the banking syndicate which has
undertaken to regulate foreign ex-
changes.
Withdrawals of money to the interior
are rather large, and commercial loans
are hard to place, and this difficulty
checks many new enterprise and bust
ness in many departments. Bank clear
ngs are small for the week, Is per cent.
less than last year. Railroad earn
inrs are not as good as might be eX-
pected for the first half Of August, ex-
seeding those OF last year by only 3.4
per cent.
The boot and shoe industry is rapidly
nearing the end OF past orders, except
ing in woman's grain and buff shoes,
of which there are still orders for some
weeks to come. while others are con-
L.,
the new business is light. Prices are
shade weaker. Leather Is weaker
with small demand, although restrict
ed supplies have caused a shade of ad-
vance in some kinds. Hides at Chicago
averaged more than 3 per cent. lower
for the week again, the fall in the past
1--WE weeks having averaged about rs
per cent.
The iron and steel manufacture has
only continued depression TO report and
Bessemer pig has sold at 1910 at Pitts
burg, while Southern No. l Is offered al
prices equivalent TO $40 at New York,
and nearly all finished products are be-
ing sold below the current quotations.
The one bright spot is the sale OF
5000 tons OF steel rails to Japan for
refitting railways In that country,
which makes an aggregate of $4,000 tons
exported during the year. Nothing
encouraging can yet be said regarding
mand for goods, even at recent reduc-
tions in prices, is still disappontIngly
small. a heavy auction sale OF cotton
goods brought prices which were consid-
cred quite encouraging. and the cur
rent demand is fairly maintained. al
though the mills are not inclined to
make large contracts for the future in
view of the rise in the raw material
In general the working force I'm the tex
tile branches does not appear TO have
increased.
New York. Aug. 2l.-Bradstreet's to-
morrow will say:
General trade throughout the United
states is practically confined to staple
lines. The volume OF business is no
larger. The feature OF the week Is the
increased difficulty In making collec-
tions and the higher rate OF mercantile
discounts. Credits are being scanned
more closely than heretofore and .re
granted less fire. iy. Chicago bankers are
slow to make loans except to move the
crops and Chicago bank deposits are de-
creaSing.
At Buffalo, Pittsburg. Charleston, Gin
'H1u ana Galveston mercantile co.,ec-
tions are slowar than b fore. Business
in South Carolina is retarded nv tho
drought. and in north Louisiana. Texas.
southern Arkansas and Mississippi pro-
longed drought has so interfered with
business in some sections that 1t amounts
y.
The total business failures in the Init
ed states Is 264 this week, six more tina n
last week and 72 more than In the weel,
one year ago.
The bank clearings throughout the
United States amount to only sSI3, 900 600
this week. almost exactly the same total
reported for the third week of August
1874. when the volume of trade was very
small. Compared with last week. this
weeks total shows n decrease of az per
cent. and contrasted with the week one
wear ago the failing off Is almost 10 per
cent.
More favorable trade advices are re-
ceived from Baltimore, wher: business is
satisfactory owing to the better SOUTH
ern purchases. based on the early cot
ton crop. Among Southern cities, At
lanta is conspicuous for reporting better
trade.
Kansas City iobbers report good sales
in all lines. and that rains have assured
large corn and fruit crops to Kansas.
AT st. Paul there is better demand for
hardware. groceries and drugs
The New York Stock Market Is dull
and speculation is entirely professlonal
Prices rallied somewhat on the decline
and became dull again with the recovery
in rates. The gold imports announced
thus far amount to over $4,000 900 and
seem to be largely special transac-
TONS"