Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-07-04
DUNN AND nRADsTREET.
The Shutdown OF Cotton-MiIIs--Ex-
PLANTATION of Numerous stoppnges.

Dun & Co. will say tomorrow in their
weekly review Of trade: Complete reports
for the second quarter OF 1s9G-April 1st
to June Both. inclusive-cover 1905 I'm the
United States. against 2.S55 in the same
quarter Of last year
The failures for the week have been
257 in the United States, against 1a5 last
year, and p in Canada, against "a last
year.
Current movements have been so largely
OF temporary character, or else purely
speculative on the day-by-day plan, that
they are not highly instructive. Thus an
extensive shutdown OF cotton-mllls Is
solely in the hope that half-production in
July and August may clear a largely-over-
stocked market.
Reviews of the half-year's operations in
leading branches of manufacture go far
TO explain numerous stoppages. In wool
lens they are without concert. mills wait
ing for orders. the sales Of wool having
not been a third of last years for the
same week. Prices are depressed. but
still depend on foreign possibilities. In
cotton goods the closing of many mills.
both North and South. for half of July
and August, is in effect a recognition
of the fact that heavy stocks of goods,
manufactured from cotton. costing be-
tween Z IL and 1-2c, could not be ex-
pected TO show profits II the mills go on
manufacturing until n new and probably
heavy crop of cotton is ready. The re-
duction of prices has brought out a large
demand in many cases. but not enough
80 lie frr..t I.r.
decline in print-cloths TO 2 1-2 cents is
significant, when such a decrease I'm pro-
duction Is assured. Having begun by
reducing prices to the lowest ever known.
boot and shoe producers are doing
shade better in prices. with leather
little cheaper, on the whole though hides
have mounted to about the level Of Janu-
airy 1st.
The output of iron has largely de-
creased. and there Is a quite general
stoppage OF works for repairs, but the
annual controversies about wages have
in most cases been settled and it is be-
lieved will be settled in all cases without
strikes. The problem whether the prices
for coke, ore, and billets established by
the combinations formed this year can
be maintained against the decreasing de-
mand for finished products would be sim
plified II there were not combinations In
nails and rails and some other finished
products.
Bradstreets tomorrow will say:
General trade in both commercial and
Industrial branches IS dulier. but the fall
ing off IS in part the usual midsummer
dulness Comparatively few changes are
noted, but most Of them are decreases
in either price or demand. Quotations
for wheat. Indian corn, cotton. oats and
ct al -.
the decline last week: leather remains
conspicuously firm. with shoe-factories
busily employed. and petroleum and an
thracite coal are higher. The sentiment
Of the trade at many points is that the
immediate outlook for business IS not
favorable. st. Louis jobbers report some
Texas merchants countermanding orders,
owing TO the effects OF the drought There
Is fair demand for grain, groceries. and
staple dry-goods at Minneapolis and Du-
luth. and In fabrics and groceries at ST.
Paul and Omaha, while Louisville reports
a better demand for hardware. with COL
lections improved. Similar advices come
from Baltimore. Savannah, and Charles
ton. These constitute the most favorable
reports concerning the state Of trade
At Chicago the volume OF business for
six months is smaller than last year At
New York. Philadelphia, Buffalo. and
Pittsburg there are no characteristics,
except those Of extreme dulness.
The general Industrial situation shows
no renewal of activity. The apparent inn
provement in wool has disappeared
Manufacturers refuse to buy raw mate
rial because IL is cheap. Excessive dull
ness marks. dry goods. although this is
the usual period for stock-takng. Cotton
mill treasurers controlling 100000 spin
L. a.
a large amount OF woollen machinery re-
mains idle. and the iron and steel indus
tries are as fat as heretofore.
The business failures in the United
States for six months, as reported to
Bradstreet's. number 1902 the largest
six-months' total since the records have
been compiled. The increase, compared
with 1895 and 1894, is more that 1000 in
each instance.