The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-08-08
TRADE Is UNCHANG ED
The Heat In The SOltl aad Southwest
Partially Responsible for StagnatiOn.
MERCHANTS BUYING FOR NEEDS ONLY.
MercantiIe Collections arc StilI Very
SLOW Renewing Scruting of Cred
its Hans Had the Effect OF Restrict.
fng Them-TEere is Relative Activ-
tfy Among Root nnd Shoe Makers.

New York. Aug. 7.-Bradstreet's to-
morrow Will say:
IN nearly all lines trade is unchanged,
in some departments lifeless South
and Southwest the heat has had an un-
iaVorabic influence, but merchants in
all directions continue to buy for needs
only. While ii is too early for fall trade
10 assume larger proportions, diStribu-
ton of clothing and shoes at Chicago
has improved somewhat. although less
active than one year ago. At several
centcrs bankers have preferred not to
loan as freely as heretofore. Merchants
not wishing to be refused have accord
inglv curtailed their requests for ac-
coInmodati ton.
Mercantile collections are slow, In
some instances more difficult to make.
Renewed scrutiny of credits has had an
ehect in restricting the same. Iron and
steel industries remain excessively dull
Makers of pig are piling stocks. Large
lots could be obtained at concessions
Cotton warn manufacturers have agreed
to curtail production 30 per cent. during
August. and owing to the lack OF de-
| mand Western packing house employees
have been laid off There is no i'm
| provement in wool and some Philadel-
phia mills have shut down. Portland
adviccs are that no considerable move
ment of Oregon wool will take place
until after election. Cotton goods re-
main unchanged, Notwithstanding the
higher price for cotton. The relative
activity among the makers of boots
and shoes is because of orders on hand
rather than new business. Stock values
in the New York market have broken on
liquidation, and bearish pr Ssure. with
an utter lack of buying support. Be
sides the uncertainty of the political
| outlook and the slacliness of trade there
have been several depressing factors
| including the break down of u local
speculative imitation at Chicago. tie ap-
! rrarancc of pressure In the money mar
lSet and talk of damage to RAILROAD
earnings.
Business failures throughout the
| United States this week number 26e. a
decrease compared with one week age,
when the total was 294 The falling off
is principally in the middle and New
England States. AS compared with one
Year ago this weeks total shows an in
crease OF -. In the first week Of August.
| 1883. during the panic the total number
of failures was 414.
Comparatively favorable reports con-
corning general trade are more numerous
than in preceding weeks. Pittsburg job
bers report a slight increase III the vol
ume Of trade but at Baltimore there is
marked Improvement. with jobbers re-
ceiving orders fre4ly.
The favorable condition of the Texas
cotton crop coEtinues to help jobber= a I
IEalveston. Notwithstanding unfavora =
BILE reports as 20 the cotton in Louisiana
expe cted payments Of sugar bounties
next week and favorable reports ; to the
Louisiana sugar crop tend TO stimula te
trade at New Orleans. Both Savannah
and Augusta report fair volume OF
business. with improvements in some
lines although collections are slow.
The volume of domestic business re-
flected by exchanges was ~ per cent.
smaller than last year for the first we k
OF August and 90 per cent. smaller than
in 1882 The early crop movement and
the speculative collapse at Chicago caus-
ed both comme;c cial and speculative loans
here 10 he restricted. Failures IN July.
classified by branches or business show
larger liabilities i'm the lumber than in
any o! the manufacturing classes. and
for seven months double the liabilities
i'm the next largest class. while in trad
ing the dry goods liabilities lead.
Failures for the week have been 2t0
in the United States. against go last
year. and 32 in Canada, against ~ last
year.
Chicago Aug. 1T is not at all likely
that the Chicago Stock Exchange will
reopen its doors for some days yet to
come. Moore Brothers are not hasten
ing matters. All agree that il will be
we'll into next week before arrange
ments can he made to arrange business
on the exchange