The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-07-26
STATE OF TRADE.
What Dun's Weekly Review of Trade
Has to Say.


Has to Say.
New York, July 15.-R G. Dun s.
Co.'S weekly review of trade says:
The week began with extreme .depres-
sion in stock and speculative market,
owing to the heavy outgoing of gold and
the fall of the Treasury reserve below
the minimum. The Populist and silver
convention caused some apprehensions
and large Withdrawals of gold for hoard
ing were rather feared than seen. Then
came sharp recovery with the union of
banks to turn $50, 900, 600 gold into the
Treasury, and of international bankers
to control foreign .eXch: nge. The gold
reserve has been quickly lifted above
800, 600, 900, and political events have
helped to clear away apprehension.
Business of all kinds has been consider
ably affected.by the monetary conditions
and is slower to improve.
The produce markets have been seri-
ously depressed, lard making the lowest
quotations on record, corn falling to 80
cents wheat to 61.75, and cotton to 712
cents. There has been slight recovery
in corn, sixteenth in cotton, and IL cent
in wheat, but the main cause of low
prices remain, namely, prospects of large
crops with heavy stocks on hand Old
corn is coming forward at about double
the rate Il year ago. and so far another
big yield is indicated. Wheat receipts
at Western points have been 1925, 257
bushels in three weeks and against 4, 1885,,
443 last year, when the coming crop, if
official reports are to be credited, was
larger than it is now, and Atlantic ex-
ports for. three weeks, flour included,
have been 1868, LAT bushels against :, 522,
0I3 last year, Il large gain, but not enough
to balance the increase in receipts. In
i'm. IF ,tt..,A intr 81.
preston grows that the crop may us
much exceed official estimates as it did
last year. Cotton receipts are as usual
insignificant but new cotton already be-
gins to appear some weeks earlier than
usual, and the prospects for larger
yield grows clearer, though owing to
over raid development the quality may
be defective. Nothing appears of en-
enlargement in the industries, as there
has been II considerable further decline
in the working force. The closing of iron
furnaces continues, only three out of
eleven. in the Mahoning, and four or five
out of 16 in the Shenango valley remain
ing in blast, and yet prices fall, as unsold
stocks are the largest ever known, while
the demand is remarkably light. South
ern No. ! ut the East is nomnally $11.25,
and Pennsylvania S12, with Bessemer' $
S11.I5 mt Pittsburg and grey forge S9.7
but even these and all prices for finished
products are shaded to secure business
The general decentralization is partly due
to growing belief that large combinations.
which still hold up prices, cannot hold
them up long. Nearly all wire and rod
mills are closed, sales of nails are small,
bar iron at 1.2 is being largely suppressed
ed by steel at los, open hearth billits
| 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 bet
| ter. Minor metals are always weaker.
Textile industries are rapidly reducing
working forces, as the prospect for future
demand does not grow clearer, and while
| prices are nominally unchanged il is be
cause there is little change of business al
| present. The state of wooden manufac-
ture appears in sales of wool at the chief
markets for the week. the smallest ever
| known, only 1870, $50 pounds, of which
| S42, $50 were domestic, against 10, 301 sc
| last year, of which 6,23l, $50 were do
| nestle. Prices do not nominally change,
but are shaded to make sales, and West
ern markets are weakening some, though
| still higher than Eastern. Leather is
inactive and hides at Chicago average J
per cent. lower for the week.
Failures for the week have been PSI in
the United States, aga nst POP last year,
and - in Canada against - last year.