The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-05-02
In CIRCLES OF TRADE
More Business as the Season Advances gut
the Gain lsLsss Than Was Expected.
FOREIGN opERA1IoAs0F NO INFLUENCE.
Retail Trade Has Reen Aetiye Enough
n" Materially Lesson Stocks aaa
Obligations una TO Prevare q;
Great sIany Threatening Etnbasai
ressments-sew Dnsiness slow.

New York, May 1.-R. q. Dun s. Co,
VIII say to-morrow in their. weekly ra-s
view: ssl
Failures for the week have been 2as
IN the United States. as against 23I last
year. y
As the seasjn advances there Ia more
business, hut advices indicate that on
the whole the prevalent feeling is that the Z
gain is less than there was reason to Y
expect. While retail trade has been ac-
i've enough to materially lessen stocks
ana obligations, and thus to prevent
great many threatened embarrassments, 4
" mas not yet brought enough new sbtIai-
ness TO mills or factories TO prevent de-
crease of untitled orders and closing of
Some works substantially the sarue
state of things exists In all the grsiat ts
industries. notwithstanding the strong
combinations In some, and evidence OF
ladequate consumption appears In theE
fact that the general range of prices fore
commodities, farm and mines as well asS
iood products, is nearly per cent lower
than 1t was April 1st, and the lowest ever.
known, the decline since October. 1892 II
being 16.7 per cent. Nor can this be
attributed to scarcity OF money, which
IL easier and may be abundant as the u-9
quidat:sn of many dealers lessons OUT
standing obligations. vi ~,
toreign operations have been OF no
influence in American securities. bnts
shipments of silver have again been
large. Some cotton mills have ceased
production, including one large printing
establishment, and stocks on hand still
increase though for brown goods there
mas been better legitimate dema nd "a
and great quantities of ginghans haze
been moved by drives at prices low be-
yond all precedent ttIlisa
large purchases of lake ore by the
prlncipai consumers contracts securing
otn'rol OF low phosphorous ore and lower,
ran rates TO Chicago fdr4 Eonnell sytlles
coke in order to compete with Pocahon-.s
tascoke, are the main features in the IRON
industry. but the revival of demand d
YET deferred. Higher prices for nails
nave caused active buying for the week. /.
put large consumers decline to CONTRACT
as yet for bars. and the rod combination
mas railen through. Middle men still sell
steel balets at S19 at Pittsbure. against
$2o asked by the pool, but the stock
available Is said to be only 10000 tons
Structuial prospects are good but In
olher branches the demand is less active
burg. t's3
What Rradstrcet VIII saw.
There is relatively less Improvement
III general trade this week, the present
partaking OF a between seasons charac.S 4
Ter wholesale merchants in stapie
hnes IN many instances look ahead with
confidence to the autumn, and in such
departments as agricultural imple-
ments. building materials and hardware
there Is reported O moderate revival,
In demand
More favorable reports are received
from Pittsburg, where merchants have
had the largest weeks trade thus far
this season; Buffalo, whena the feeling
Is one or more confidence, and from At
lanta and New Orleans, where request
IN wholesale lines Is more active.
The movement of goods from Calves
ton is not active, but in view of the
large Texas acreage of cotton more
confidence is felt that fall trade Will
meet expectations. 8
Bullish speculation in the New York
stock market is checked by the renewal
Of gold shipments, and a standstill IN
the London market, caused by events
In South Africa. Declines are moderate
and traders though expecting reaction,
art cautiously on the bear side Pub
liz: interest is, however, suspended and
quotations are the result of professional
activity.
There is an unexpectedly small NUM-
Der of strikes at this s;ason. In iron
and steel there are advances In prices
for special grades of pig iron, due to StfleT
output of Lake Superior orss, reqllir.
er for their production. having beena
practically taken up by few interests
The so-called steel trust is reports ex-s
tending Its territory. Quotations for
Southern pig have been cut. as are those
for the few salas of Bessemer pig and {
billets made by middlemen.
Copper is easier and wool has bsen
sold at concessions. Cotton goods are
depressed Notwithstanding the strength
of cotton: Lower prices are noted fort'
wheat -four. whsat. corn, oats, pork
lard and sugar. The reaction In quotas
items for shoes has brought prices down
TO the level of 1894. at which the faca
tories are fairly busy, and have rat tsaerS;
more confidence. ss
Total bank clearings amount to SpS2.
100000 this week. decrease from lasS
week OF not quite 3 per cent. and st
falling off as compared with the cor4
responding week last year OF 10 psf
| cent.