Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-07-25
pRApsTREEr AND DUN.
status Of the business OF the Coun-

NEW YORK, July 2t--Bradstreet's to-
morrow will say: Telegraphic and mail
adyices from commercial and industrial
centres indicate more unsatisfactory
state OF trade. There Is no outlook favor
ing an early revival of trade, while the
volume OF sales continues light and prices
continue low. with a further restriction
OF credits. The general money market Is
dull, owing not only 10 caution on the
part OF banks In dlscounting, but TO a
falling off in demand. Unfavorable crop
reports from Nebraska have caused the
cancellation of some orders, and long,
continued rains in Tennessee have check
ed business there Louisiana reports the
new rice crop short. Relatively favorable
advices are from Baltimore, where orders
in general lines are fairly satisfactory,
and the volume of business is larger than
In the like portion OF 1895, and from CAL
weston, where business generally promises
improvement.
The Industrial situation is some
what more depressed, particularly
in iron and steel, prices for
most varieties of which, nota-
bly, southern pig iron. are shaded. The
encouraging feature in iron and steel is
the extent to which stacks have gone out.
There is an increase in the number OF
striking employees in several lines, but
the new scale of wages asked by the iron
and steel workers has been largely ac-
ceded to. Production Is materially cur
tailed among manufacturers of woollens
and cottons, as heretofore and In the
locomotive, hardware. silver, jewelry, and
lumber industries. Shoe factories are
busy. mostly on old orders
The business failures for the week num-
Der $50 throughout the United States,
ofrc 1ac nj IN. he
same week a year ago.
Messrs. X. G. Dun & Co. will say to-
morrow, in their weekly review of trade:
The week began with extreme depression
in the stock and speculative markets.
owing to the heavy outgo of gold. Stocks
fell rapidly, and on Monday averaged
lower than at any time this year. or
during the Venezuela alarm in December.
Then came a sharp recovery, with the
union of banks to turn gold into the
Treasury, and OF international bankers
to control foreign exchange. Business OF
all kinds has been considerably affected
by the monetary conditions. and Is slow
TO improve.
The produce markets have been serious
ly depressed. lard making the lowest vuo-
tations on record.
Nothing appears of encouragement In
the industries, and there has been con-
siderable further decline in the working
force. The closing Of iron furnaces con-
tinues, and yet prices fall. as unsold
stocks are the largest ever known, while
the demand is remarkably light. South
ern No. !, at the East, Is nominally S1150
and gray forge 1915 but even these and
all prices for finished products are shaded
to secure business. The general de-
moralization is partly due to the grow
ing belief that the large combinations
which still hold up prices can't hold them
long. Nearly all the wire and wire-rod-
mills are closed the sales of nails are
small, bar iron at s1.02 Is being largely
superseded by steel at s1.05. open-hearth-
billets are offered below Bessemer. the
demand for rails is very light, and the
great structural works at Homestead go
on half-time, unless orders this week are
better. Minor metals are also weaker
The textile Industries are rapidly re-
ducing working forces, as the prospect
for future demand does not grow clearer;
and, while prices are nomlnally un-
changed, ii is because there is little
chance of business at present. The state
of woollen manufacture appears in the
sales of wool at the chief market for the
week-the smallest ever known. Prices
do not nominally change but are shaded
to make sales, and western markets are
weakening some, though still higher than
eastern. There is little new business in
boots and shoes.
The failures for the week have been PSI
In the United States, against 902 last
year; and % in Canada, against II last
year.