Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-07-11
BRiDsTREET AND Dun.
business Conditions-Thc Usual MIDI
suumcr Dutncss.


tomorrow will say: The usual midsum-
mer dulness in the general merchandise
markets has been emphasized by unfor-
tunate weather. by uneasiness at the at
titude OF the Chicago platform towards
the finances OF the country, and by the
continued conservatism with which mer-
chants continue TO supply their wants.
The volume of business appears smaller
than last week, mercantile collections are
more satisfactory and there is a dispose
ton among jobbers TO look more closely
after credits.
Wool is stln further depressed, with
not enough business to establish quota
tions. There is no Improvement in the
demand for fall business In woollen
goods and the steel industries report
a reduced demand, even after the great
" restricted output, with prices practical
" unchanged. and slight prospect OF a
revival for some time. a portion Of the
recent activity among shoe manufacturers
still continues, but the tendency is
TO fall off.
Notwithstanding rains in Texas. the
cotton crop there IS suffering from the
effects of drought. while in South Caro-
lima too much rain has fallen for the
good Of the crop. Pittsbufg. St Paul,
and Savannah all report smaller vol
ume Of business. and complaints are
heard as to the prospect OF the wheat
crop on the Pacific coast.
Among two dozen staple articles. the
prices Of which show the general tenden-
cy Of values. only one. print-cloth. shows
an advance over last week; coffee, pc
troleum, iron. steel, coal, and lumber
being conspicuous among those the
prices OF which are unchanged.
More encouraging trade features in
clude the opening OF new prints for fall
delivery. ard the preparation for the road
Of travellers. more particularly among
dry-goods jobbers. Rains have helped
Georgia farmers, and at Philadelphia the
recent brisk demand for boots and shoes
continues. Jobbers at Augusta Ga, re-
port some improvement over May and
June. and at Minneapolis merchandise
Is moving more freely. with fairly salts
factory orders. At st. Louis there have
been more orders received for hardware,
dry goods, and shoes than were .antici-
pated.
At Chicago the increases in trade have
been very light, but at Omaha gains are
noted in the movement of dry goods.
shoes, and groceries Relatively. the
most favorable advices come from Bal
timore, whose dry-goods jobbers report
statesmen receiving encouraging orders,
and whose dealers in clothing and shoes
regard the past three months as point
ing 10 a better fall trade than that OF
1895.
The total number OF business failures
throughout the United States was 2l9
this week a smaller number than in the
corresponding period Of either Of the
three preceding years. The falling off
from last week was ten.
Messrs r. G. Dun q Co. will say to-
morrow I'm their weekly review Of trade:
he failures OF the week have been 2l5 in
the United States, against 253 last year,
and 80 in Canada. against % last year.
with "A political convention in progress
directly antagonizing the position taken
on the money question by the convention
of last month. IL is natural that there has
been with many much uncertainty about
the future to intensity the dulness eX-
pected at this season. Wall street ex-
hibited 10 excitement. though stocks were
weaker on Thursday and closed lower for
the week. cents per share for railways.
nor were there signs of alarm IL the
speculative markets oil monetary circles.
Blu; in stocks and in other business the
week was one of waiting. there being
somewhat prevalent a feeling OF inse-
curity.
Serious apprehension regarding injury
by drought 10 cotton I'm Texas seemed
justified by some dispatches published last
week. so that telegraphic advices Of some
general rain in the State are welcome.
Whether II is seasOnable or sufficient 10
ensure a satisfactory yield cannot be def
nitely known. nor Is the extent OF injury
said to have been done by excessive rains
in some Atlantic States known. But with
the large increase Of acreage a yield OF
at least fair proportion seems Ia be pro-
bable and with very heavy stocks car
red In mills and market here and abroad.
mills closing quite extensively to permit
of a reduction of the stock of goods. a
large yield could hardly prove beneficial
to the producers Large sales of print
cloths are quoted at IL cents-slightly
above the bottom price-but other goods
have not yet been strengthened.
Nor have woollen goods improved. but
the tone is rather less hopeful. and the
demand for goods is even more slack than
was expected.
Not much can be said of a market so
fiat as that of iron and steel products,
but part Of the inactivity is strictly sea-
sonable: part is due to still unsettled
questions about wages. and much more TO
general disposition to defer orders I'M
iii the future is clearer. Whether prices
for finished products are too high or not,
they average relatively at least 10 per
cent higher than the prices of pig-iron,
which necessarily causes inaction when
pig is going lower. Bessemer fell this
week TO $l2 " Pittsburg and gray forge
TO so, but some contracts OF importance
have been placed-one Tor 1900 to 5000
tons for a new building on Park Row and
another for 1900 tons cast pipe for Fifth
avenue is pending. Quotations for finish
ed products are not lower. but are some
times cut.