Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-05-30
THE BUSINESS SITUATION.
Improvement in Boots and shoes,
and Elsewhere.

NEW YORK, May 29.-Bradstreet's to-
morrow will say:
The Improvement in the trade situation
is confined to the demand for hides.leather'
and shoes. the tendency Of prices OF the
same being to advance, and an improve
ment In the request for dry goods, hats
and shoes from wholesalers at 81. faul'
Kansas City. Omaha, and Baltimore
The crop outlook I'm South Caroilna ana
Kentucky Is brighter because OF recent
rains. and a generally better feeling exists
among sugar-producers and handlers In
Louisiana and Texas because OF the re-
cent sugar-bounty decision.
General business continues quiet, ana
at the larger financial centres less COM
mercial paper is making, even at lower
rates A between-Season trade mas begun
10 assert itself. and from number OF
points mercantile collections are less
satisfactory-in some instances more DIM
cult.
In Texas both corn and cotton crops are
retarded for want or rain. Al ~. LOUIS
and throughout the contiguous territory
and at the smaller business centres alonS
the track of the recent storm, business
has been interrupted.
The Industrial situation. except as TO
boots and shoes. Is unimproYed. Cottons
are dull and low on oversupply, the price
OF raw having no influence. Wool prices
continue to favor buyers, with manufac-
tories running at reduced capacity. Stocks
are heavy and production is decreasing.
There is less demand for billets. and the
outlook i'm iron and steel is not for inn
prOvement prior TO the middle OF July.
The total number of business failures
in the United States during the week is
"a as compared with PIG last week and
2o5 the same week one year ago.
The price movement Is again downward,
wheat. corn. and oats as well as pork
and lard exhibiting unexpected shrink
ages. Coffee, cotton, and petroleum are
likewise lower, and sales of pig-iron and
billets by niddlemen have been made at
shade under nominal figures. Wheat,
flour, coal. and print-cloths are practically
unchanged, while refined sugar and tim
plate report advances. Hides and leather
are firm nj recent advances, and the ten
dency is upward.
Messrs. r. c. Dun e Co will saw to-
morrow In their weekly review Of trade:
The failures for the week have been 90
in the United States. against 2l5 last
year, and % In Canada, against % last
year. The continued exports OF gold are
recognized as natural results OF the bor-
rowing and importing early in the year,
and cause no serious apprehension. The
markets for products are weaker. The
business done IS small. but largely gov
sufficient demand
Many cotton-mils have stopped. and
many more have reduced hours or looms
and yet the market for goods Is lfeless
reduction OF indigo-blue prints half a
cent to cents-the lowest on record-be-
ing the chief feature. Wool sales, exclusive
or a Few speculative transactions based
on eXtremely-low prices. are less than
40 per cent. of n weeks fair consump-
ton
Boot and shoe shipments-6 per cent
larger than the largest on record-indicate
that in some branches makers are catch
ing up with their orders, and many arr
discharging cutters. Yet many others
have orders for months ahead and sales
still run large for the season, and manu-
facturers quite generally insist upon a
slight advance in prices. which buyers do
not yet pay. The iron and steel markets
are weak. with lower prices, because the
demand for finished products is entirely
inadequate, though the prices OF these are
higher. Pig-iron has fallen over 8 per
cent. since April LIST. but the average Of
finished products has been advanced 3
per cent
Lower quotations for Bessemer and
gray forge. and local coke at Chicago,
with the stoppage OF two thirds OF the
furnaces In Virginia, some In Pennsyl-
vania, and others in the Mahoning and
Chenango valleys, result from the ina-
bility OF manufacturers to sell at prices
which their combinations demand, Bes-
semer bilets being undersod by OPEN
hearth. bars by steel bars. and nails by
In machines. Plates weaken, and there
IS no Improvement In sheets or rods. but
beam-makers have raised the price s.
per ton, making a slight advance in the
average OF all prices for the week. II Is
possible that the rebuilding after the dis
aster at ST. Louis may affect the iron and
steel markets extensively.