The times. [volume] (Richmond, Va.) 1890-1903, 1896-03-21

GENERAL TRiDE FOR THE FIRST
QUARTER DISAPPOINTING.
Stormy Weather Interferes with Business
East of the Observation-Disclosures
In Business Failures.

tomorrow VIII say:
General trade throughout the United
States for the first quarter of 1886 Is
disappomting The most favorable re-
ports at this time are those which de-
clare the volume OF business only equal
to or, in a Jew instances, in excess OF
the like total a year ago.
The fact that interior merchants are
buying more freely in Missouri, Kansas,
Oklahoma, and parts of Nebraska, where
the snow and rain have prepared the
soil for the crops, constitutes almost
the one favorable announcement for the
week. In almost all other parts OF the
country east Of the Mississippi, stormy
weather has tended 10 check the Nolulhe
OF business ana still further restrict meI-
camille collections, which nave now Deen
exceptionally slow for more than
month. The winters jODDing business
in staple lines. with few exceptions was
unsatisfactory, as IL has been Tor me
coming spring. The prolonged lali"s-ot
in demand In the iron and Steel cotton
,yoolen. and shoe industries, presents
no sign of early improvement. AS con-
eoaucuce. hides, leather, and snCes are
oil voaker-in some instances lower.
Ginghams and print cloths nave soio lol
Ice nancy with the week, the deh'aiu
for American woollen goods rema'ns lh
like goods OF foreign make ana quota
marked contrast TO the actlNe request iOi
tions for some grades OF iron are I"Mel
than last week. without prospect lui '''-
mediate improvement. " nolesa-e - ' al
d, ,,au's wear. including clothing Is ue-
,,,.,..ed bv heavy stocks carried over, anu
-. onotations for domestic WOOL nave
sent some abroad. ,...,t.,ess
,rbe unusually large number or business
failures taking place the hIsl t"'l 80
~ the current year. promises 10 h'"n.
record. The total for the cuiItne W.
throughout the country IS ovo, OF ~ ~
,hon last week. and IS more than tho INV
week OF 1885. .,o.,7,s,
~ No,,bvest f. not as active a. 1eN
..oeLe ago Il Is Of larger Vo.ume T.. -
- 400 country bankers 3D. ina. gu
a. rorions further South nave Decl W.
~, cboice balances. but Noiin"r'F
- tolbere continue confident OF the
,.t,.,i az the country demand' lS
t,,eircss at The South remains up. -,
In addition 10 reactions III puo, and
noted. prices for wneal' noo' CO.. 4, ian
~, 40 lover. while those fof ~ i''.'
iaIn -, both raw AMI rsi'ncl' o.
COZ u, ,,1 Cor crude and refined p''Iolt' u a.
.oii h,ahar The continued adNa.'Oe
are ,cn Cor cotton. i'm the face Oh cor
wv ,oauctious I'm quotations LOT ma
li''u '., PRODUCTS thereof during ~
laV' '.'aicates that executions OF "a ~
i.,,ortion of the new cotton eloP ,ttcn-
ilon permitted 20 unduly a''i @,.,oe of
,ion rom the comparative '''0
crescent supplies. -. 90
L. ~ Nfarch OR. G. Dunn
NEW ) ~, morrow in their weekly
& co. will say io-ilo''
review OF e trat Two weeks OF March cover
., ,iit,tos of Sc 100 397 against Si''i-'s' 40, a.,
liabiil'i rs - ~ FOR the week were Zol IN
"a i-r,tod states against 20 lasl 49,
"a fortv-nine in Canada against
five lest year. ... .,,,roe is stin
Movement toward petieI uiinh .,-ir,.s.
.,o o~cention. There IS better
a. ebooe and small industries anu
has been a squeezing OF shOi - o.,
'tton AM the general tendency OF III
,..-,~,cs and prices IS not encouraging
Ia thoso who were most hopeful mont
80 are still waiting. not so nope uis ~
nc cxnectcd recovery. DISTINCTIONS 10
,,,o,-o,,, are not 10 be sought primarily
-, mo Investment or the money market
hn, I'm the Industrial reaction after the
unnatural expansion Of demand ana prices
last year. .-,... 90 oo.,o,
sharp decline IN the pillts oi N.'.'"
goods in The comment OF mills ON rising
Gotten merchandise AVERAGE now ip..l
than since Nav. 1875. having declined az
nor cant for the week Print cloths TO
? leo. which IS Cniy siNieehih ah'Fe
the lowest price on record. The aecumu-
latiou of goods in the face OF slack ana
rapidly diminishing demand has brought
the closing Of one OF the largest mills ana
others are considering.
Tho iron industry shows but slight
average decline in prices OF last year, ana
the demand IS naturally curiailed.
Quotations are deceptive because lower
prices are constantly made 10 secure bus
mess. But with ore and coke comhlna-
lions demanding high prices, hesitation Is
inevitable.
speculation in cotton has caught short
sellers in trouble. and just because they
thought prices must go lower. the shorts
are forced 10 put them up. such a rise
may go on without regard TO supply or
demand. but neither the government Of
last week. nor the fan I'm goods or the
closing Of mills, give reason 20 expect
more than 81 speculative aspect. The
market in wheat is weak, though rather
stagnant. but the weight Of facts is felt.
as was western receipts for three weeks
Of March have been S.9s2.4N bushels
against 5.G2L9Z9 last year. Atlantic exc
ports -four included. also show a decrease
amounting 90 4oi,.~5 bushels three weeks
aeainst s.09iOiS last year.
The movement ~ corn continues very
large ana prices have declined lc. for
cash.
A troublesome feature Of the situation
Is the stfi1sency i'm comm erciai loans. not
because Of scarcity Of m ncy. but be
cause banks are disturbed by failures
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