Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-10-17
THE STATE OF TRADE.
New Conditions Favorable To an
EARLY ImprOyement.

NEW YORK, October 16.-Bradstreets
tomorrow will say: While the volume
Of general trade has not increased ma
tcrially. new conditions are favorable to-
an early Improvement The features of
the business week are the continued ad-
vance in price and the strength Of wheat
and the maintenance of a large volume
of wheat exports. notably 10 India and
Australia.
While wool is no higher. holders have
sold enough to render them Indifferent,
and are holding stocks for full figures.
While steel-prOduce orders are not be
ing placed rapidly they would be, II
makers would accept current quotations
for 1897 delivery. southern pig Is %
cents higher, and. Notwithstanding the
fact that the growing export trade in
iron and steel has been checked by higher
ocean freight rates, and cut prices by
German steel-makers IL Is anticipated
that within three weeks the domestic
demand will meet expectations. Cotton
goods continue in unsatisfactory demand.
Mills are running on full time. but stocks
tend to increase again, ana JoDDers ana
other wholesalers are slow 10 pay the
advance asked, while lower-priced stocks
are on hand. The depression IN WOollen
goods cOntinses marked, the mills run
ming being on part time or on samples.
Prices continue the upward tendency OF
several weeks past. SHOES. leather, south
ern pig-iron, wheat, wheat-flour, canned
and print cloths being higher, petroleum
lower. and cotton. anthracite coal lufn-
Der. sugar. and the various finished pro-
ducts Of iron and steel unchanged.
Bank-clearing totals amount TO $1,000
900 this week-6 per cent. less than last
week, and 146 per cent. less than IN the
second week of October. 1898.
The total number OF business failures
reported throughout the United states
this week is 279 II fewer than last week,
and 10 less than in the second week OF
October, 1895.
Messrs. r. G. Dun & Co.'s review to-
morrow Will say. The most powerful
force in business at present ~ con-
servative timidity and the foreign pailh
ers who have been Offering Tor small
percentage TO ensure people against
premium on gold until December have
made an easy and sure profit out OF preVa-
lent apprehensions. From Kansas, Ne
hraska and other States, where the SILVER
agitation is said TO be strong, come or
ders by many bankers and businessmen
20 get a small premium, ana lhere mas
been some demand for hoardlng from III
diyiduals I'm other States, who are aIIalu
even of their own best judgment. one
commercial change. which more than any
other ensures better business in tne near
future is the excess of merchandise eA-
ports over imports. The heavy movement
of grain Is the cornerstone.
Boot and shoemakers get very narrow
orders at old prices. or at an advance less
than 1 per cent. Difficulties threaten tne
iron manufacturers, for pig is hgh-Bes-
semer at $3.50 and gray forge at $y.75 at
Pittsburg-while plates, angles, ana Deans
are weaker, and various combinations
hold, prices only by leaving outside com
petitors 10 take the market as FAR as
they can Steel bars are largely sold az
cent. while l.O2 is demand for iron. All
the nails that outsiders can produce are
sold AT less than the association asks,
billets are still sold FOR less than the
pool price. and its shipments in September
aggregated only 5000 tons, mainly on
sheet and tin-plate bars. and the demand
for rails is growing small
Wool is stronger, with continued specu-
lative buying but consigned wool mas
been mostly Withdrawn until after tne
election. No gain is at present possible
I'm goods. and though the number or mus
starting for the week Is fifteen, against
seven stopping, much Of the work done
Is i'm anticipation OF a better demand man
now exists. The cotton manufacture mas
also started more spindles but the de-
mand for goods scarcely increases, anu
print-cloths sell at 2.56 cents. o,o
The failures for the week have been 90
In the United States. against 253 last
year. and forty IN Canada, against 1orty-
six last year.