Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-03-14
THE STATE OF TRADE.
Definite Improvement Realized by
nm Important Interest.

NEW YORK, March 13.-Messrs. II. G..
Dun & Co, in their weekly review OF
trade tomorrow, will say The failures for
the week have been 800 In the United
States. against 2S5 last year, and 60 In
Canada, against 20 last year. Waiting Is
still the rule. Large hope. but little
actual business explains the strength OF
some markets and the weakness OF 9TH
ers. Thus far there is a decided Increase
i'm the demand for boots and shoes, Sc
cured by considerable concession in prices,
but in other branches OF business conces-
siOns are made in vain, or are not MADE.
Meanwhile, IL is encouraging 10 know that
one OF the most important interests has
realized definite Improvement The IN
surance companies, or which returns are
given in detail this week, show a larger
business and larger income than ever be-
fore. and also a most remarkable sound
ness of mortgage loans and other invest
ments.
AS prices above February 2lst were on
the whole the lowest ever known in this
country considerable space is given this
week to comparison OF quotations i'm the
most important branches OF manufacture
which show the extent of reaction since
the rise of last fall. Ii is especially note
worthy that prices Of materials have
varied quite differently from prices OF
manufactured products. Thus. cotton IL
H9 per cent. higher than year ago,
but cotton goods average only lO.7 per
cent. Wool Is but 5.3 per cent. higher
than year ago, but wool
len goods are on the whole about
per cent. lower. Pig-iron is only Il per
cent. higher than a year ago, while finish-
ed products OF iron and steel average ID
per cent higher. Boots and shoes are
year Year ago, While leather has risen
1l.5 per cent, and hides at the
moment are only 22 per cent. higher.
These pnmTqricQng a fu1nOrtamf. because
they disclose something of the grave dis
location OF prices which inadequate con-
sumption and combinations have pro-
duced.
The output OF pig-iron March LIST was
1858 tons weekly, against 1859 Febru-
airy 1st; but the unsold stocks have risen
6s76i tons during the past month, or lfHt
weekly, and the unsold stocks of the great
steel companies are not included. There
IL reason TO believe that actual consump-
ton is still at least 10 per cent smaller
than the production of pig, and the price
of Bessemer at Pittsburg has again de-
clned to Sl22, with exceptionally large
sales even below that figure. Prices OF
finished products are not quOtably lower,
although all markets are weak In tone;
OF the minor metals, copper is In mode-
Improvement in tin at l3.4c., while lead
~ slightly weaker at 3.l5c. Tin-plates are
weak in part, because OF light demand.
Cotton goods sell slowly notwithstand-
ing recent reductions In price, and the
enormous accumulation Of unsOld stocks
causes apprehension in many quarters.
In wooiens The demand Is very largely
for low-grade goods, and herce competi-
tions affect the prices Of the better grades
materially. In clay worsteds the manu-
facture has been so far overdone that
stoppage Of some most important works is
considered not improbable.
The sales of wool at the three chief mar
kets are the smallest In five years. Prices
are still maintained, with a decrease in
Australian supplies.
The market for wheat is weak, on ac-
count Of the government report. Corn
IL a shade firmer, without apparent rea-
son, and cotton gained a sixteenth, al
though the prospect OF yield this year Is
at least as good as 1t has been at any
time.
The stock market has not been much
changed.