Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-05-16
GENERAL TRADE QUIET.
Wholesale Merchants StiII Conscrva-
tiye-WnitInE Spirit Continues.


NEW YORK, May l5.-Bradstreet's to-
morrow will say: General trade through
out the country remains quiet; wholesale
merchants continue conservative, and the
distribution Of general merchandise is
almost of hand-to-mouth kind. South
and Southwest business remains dull and
featureless-unchanged from last week.
At larger eastern centres travellers are
preparing to start out but the unfayor-
able features I'm recent weeks with respect
to the cotton and woollen and steel and
iron industries show no change. Col
lections in mos. directions continue usat-
isfdctOry.
Relatively, the most favorable reports
as TO trade this week come from Illinois,
Missouri Kansas, Iowa. and Nebraska
JObbers supplying that region report the
demand for hardware, shoes dry goods,
and notions more active, and that mercan-
tile collections have improved. Recent
rains have had a very favorable influence
on crops In Kansas and Missouri This
has tended 10 make merchants regard the
outlook more favorabiy, and to stimulate
purchases.
stronger values for leather and hides,
the steel-mills have sold two tons OF
product this year to one ton last year.
The fact that fewer iron furnaces are
turning out as much, If not more iron
this month than last indicates that an
unexpectedly large volume Of contracts
had been placed prior to the late nominal
advance in quotations.
The recent average weekly commercial
death-rate is continued, with a total of
2G5 business failures throughout the
United States this week. against go last
week, and 2l0 the same week one year ago.
The more important changes In quota
tions for staples include advances for
nails, cotton, and oats. and decreases for
pig-irOn, wool, petroleum, flour, wheat,
and pork, with steel nominally unchanged
or shaded, according to the character Of
the sale.
Messrs. r. c.. Dun q co. will say I'm
their weekly review OF trade tomorrow.
The failures for the week have been 22f
in the United states, against III last year,
and . in Canada, against 81 last year.
IL Is now the middle Of May-too late
for business to change materially until
the prospects OF coming crops are assured
and definite shape has been given to the
presidential contest by the conventions.
Until the future is clearer there Is pru-
dent dissemination TO produce much be-
yond orders. or to order beyond imme-
date and certain needs. If this waiting
spirit prevails two months longer, IL Will
crowd into the last half Of the year an
enormous business, II the outlook then Is
good. For the present there Is less BUSH
ness on the whole than year ago. though
IN some branches more, and the delay fol-
lowing months OF depression is to many
trying and causes numerous failures.
The iron and steel industry Is pro-
nounced as dull as II ever has been i'm its
whole history at Pittsburg, IN part be-
cause OF doubt about the maintenance of
prices, recently advanced, as the demand
is so small that in spit OF such advances
prices average IL per cent. lower for the
week Bessemer pig being no higher than
II was three months ago. at 1926. while
No / anthracite Is also lower-sl250 at
New York. The attempt TO hold common
bar at IL cents leads many large con-
sumers TO prefer steel bars. which sell at
IL cent, and the prices Of nails are ex-
pected TO be reduced because OF the
scanty demand. There is much promise
for future structural work. but orders are
deferred.
The textile mills are not yet gaining.
Enormous bargain sales OF cotton dress
goods and OF readymade wOOllen clothing
have hlndered orders at any prices which
the mills can afford TO take. and must
have partly supplied the needs Of con-
sumers For some cotton goods a more
active demand appears. and lOw-grade
bleached are an eighth higher, but Ions
dale and Fruit-of-the- Loom bleached. 4
bv 4 goods. are cut TO IL cents, and I'M
sold stocks Of many kinds are heavy. The
curtailment OF production, partly by in
tention and partly by difference about
wages. has not yet brought the improve
rnent hoped for.