Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-12-05
THE TOWER,
THE BUSINESS SITUATION.
Trade Volume Moderate-No Revival
This Year.

NEW YORK. December 4.-Brad-
streets will say tomorrow: General
trade continues in moderate volume.
jobbers and wholesalers being agreed
that there will be no business revival
this year There is some activity IN
holiday goods. Rains and stormy
weather South, and cold and severe
weather West and Northwest have
checked traffic on interior country ROADS.
and otherwise interfered with the dis
tribution of merchandise. except at some
northwestern centres, where more sea-
sonable weather has stimulated the de-
mand for heavy textiles. clothing, and
hats and shoes. Throughout the Gen.
trail Mississippi Valley there has been no
increase in demand in wholesale lines.
and at the South trade Is characterized
as dull.
sales OF open Hearth steel have been
made at a parity with grades whicn
have been considered cheaper: nails have
again reacted on the dissolution OF
the pool; tin-plate prices have been cut,
and Bessemer pig-ron has sold down 10
cents ton. The weakness in hides
continues and prices are lower, thou N.
thus far. without effect on quotations.
for leather. Petroleum prices nave
reacted and quotations Tor cohee
are lower No material change Is
reported in the prices of pork, print
cloths. and lumber, while those or tur-
pentine tobacco. cotton, sugar, wheat,
and flour are all higher.
The November bank clearlngs reflect
the speculative activity foilowing the
election. Compared with the months I'M
mediateIy preceding. the showing Is
good one. only once before in thirteen
wears has the November total exceeded
that for october, and with the exception
of January the November total Is the
heaviest for any month this year. But
in snite of this, the total OF the Novem-
her c,earings was smaller than that OF q
year ago and. with New York excluded,
unite a heavy falling off Is reported.
The total clearings at sixty-six cities fo'
November aggregate AJoi,5Vi,eH, de-
crease from a year ago or rs per cent.
outside of New York, the total clearings
at an cities fell off nearly II per cent.
from, a wear ago. Only two large cities
In tho country show increases-New York.
With az per cent. and Baltimore, with AZ
per cent. ,-.,.. ~or.
cd throughout the United States this
week which is an increase OF slAty-tnree
as compared with last week, and forty
four as compared with the corresponding
week one year ago.
Nessrs. r. G. Dun & Co. will say to-
morrow in their weekly review OF trade:
The classified failures for November
given to-day, show a gratifying reuuc-
tion. compared with October. and are
esnecia1lv important, as showing that the
necuIiar disturbance during the presi-
SentiaI campaign. which swelled failures
sa6 OoDO in August and September, dld
not nreyent a quick return to monthly
aggregate scarcely greater than that OF
Nav The defaultei liabilities In clever
months have been $l9S, S.i59 against
s4s. 5i4 2O2 last year, the increase peins
only sl4OOOOOO outside OF those TWO
months. and this remaining increase or
only 10 per cent. was also, in part, que
TO alarm during the campaign. me ue-
cline of failures to about 40 per cent. Oh
the September aggregate gives stroise'
ground for the confidence so generally
expressed. l.,
Ground for confidence Is also found In
the abandonment of two of the largest
combinations, by which the iron INDUSTRY
has been retarded. and the possibiltY
that two others will be abandoned Such
n state of things within month aiter
tho election suggests that these orsahi-
cations formed when depressed business
failed 10 support all the works In ex-
istence are not expected 10 survive d
general revival and an ample ueniahd
for products. The immediate erect Oh
breaking prices is to check large buying
~ iron and steel products. but 1t will
coon he seen about where prices are 10
range AT present the base-price Tor
wire nails Is sl.25, against s2.Ss two
weeks ago. with a greater reduction on
small sizes. because new cards reduced
"extra' charges Beams are selling at
sl25 against Sl55 two weeks ago, ana
there are sales OF billets below the liked
nrica The bar combination is still I'M
dersold by steel bars at IL cent. and
nothing is doing in rails, because the
meeting shortly to be held VIII settle
whether any price shall be fixed for next
wear. Bessemer pig at fittsDurg IS
lower. at sl1e5. and Grey forge at SO: but
there 10 n large demand for vesselplates.
both on foreign contracts and for the
lakes Several thousand cars have been
ordered. and numerous new buildings and
bridges. -.
The coke combination has changed its
rethod so that contracts are openly
made below prices recently ruling. and
tbere Ia some partition of consumers
among the producing interests ooi
manufacture is waiting, ana, while more
improved but little with favorable wealth
err. ,..,
In cotton manufacture there is little
change. though goods are selling better.
hut with many added works, PRODUCTION
axcoads present demand. The market
for raw cotton is weak. With over 4,l5o.-
coo bales in sight by December LIST, when
the crop Is usually about half In sight,
current estimates would leave only SiDo'-
COO more 10 come forward In nine months
and the larger consumption in mills does
not advance prices.
The volume OF business shown oy clear-
,nq-house returcs was for the past week
yearly | per cent. over last year, ana
,or the month OF November per cent,
and n per cent. less than 1882, the com
harrison being the best for the past hVe
months 49,
The failures for the week have Seen
,ro In the United States against 32t last
vear. and In Canada. IS, against 81 last
year.