Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-11-13
BRADsTREEr AND DUN.
significant Feature of business
Heavy Bank CIearings.

|
over the preceding week, and 10 per CEN
compared with the second week of Nc
vember 1896. when business began 10 re
vive sharply, in speculative lines.
Railroad gross earnings show smalle
gains as comparisons begin to be mad
with the more nearly normal condition
Of a year ago. The total October earn
ings OF 127 companies. representing 10000
miles of road. aggregate s55.66i.S59, gai
of s5,00o.000 over September, and per cent
over October, year ago. This gain com
pares with gains of II per cent. in Sep
TENDER. and 1875 per cent. in August, owe
the CORRESPONDING periods in 1896. Tn
| Southwestern and Central and southern
roads make the best showngs.
| Other favorable features are the con
tinued firmness of and activity In wool
iron and steel. The heavy output Of iron
and moderate reduction in stocks, las
week. however suggest the improbabilit!
OF the advance in the prices or iron AM
steel next year, which so many have
hoped for. The slight reaction In tn
price of cotton, in view of the extreme
depression to which that staple has beer
subjected attracts attention, as a posi-
bic beginning of the end OF the prolonged
decline. Already there is an Improvement
In the price of and demand Tor cottof
| yarns.
Unfavorable influences in price move
ments this week are declines in the prices
| OF cottons and print-cloths, the latter
touching the lowest price on record
| Wheat, lard and lead are also lower, and
| wire-nails have been shaded. There is q
| long list of staples, for which prices are
| practically unchanged. The more impor-
| tant advances are confined to Indian corn,
oats, hops and turpentne.
| Colder weather i'm the Central West and
| Northwest has stimulated the demand for
| winter goods parfiCularlY clothing.
| GRAIN EXPORTS.
The exports of wheat flour included as
| wheaD from both coasts of the United
| States and from Montreal this week
! amount to 5,4i5.425 bushels, compared with
| 5.5O,OO0 bushels last week, 1861, 600 bushels
| in the same week q year ago, $4,000
bushels two years ago, 100000 bushels
three years ago, and 2,6i5,OO bushels in
the like week OF 1893. The exports Of In
dian corn this week amount to 265l $40
week, 600 bushels In the slime week
a year ago. 1921 600 bushels two years
ago. $4,000 bushels three years ago and
$4,000 bushels in the like week of 1893
There is an increased number of bust
ness failures, the total throughout the
United States being 27S. compared with
223 last week, 25S in the same week one
year ago. 279 two years ago. 2S0 three
November, 1873. The larger portion or TINS
weeks increase over last week is in New
England and the Southern States.
Thirty-three business failures were re-
ported throughout the Canadian Dominion
this week compared with "a last week. "A
In the like week one year ago. and 40 two
years ago
COLDER WEATHER HELPS.
Messrs. r. G. Dun & Co.'s weekly re-
view of trade will say in its issue of to-
morrow: Colder and more stormy wea-
Their, so long needed 10 accelerate the dis
fri of inf or haC
helped in some quarters. and the resulting
Improvement I'm retail trade is mentioned
In nearly every northern dispatch thls
week. so that orders TO fill stocks have
been encouraging, and, in some branches,
the multitude of demands for immediate
delivery show that the distribution TO con-
sumers has already gone much beyond the
expectations of dealers. But this Is not
yet the general rule, and with many COM
plants of delayed trade from other quar-
ters. there still remains the extensive
shrinkage caused by fever and quaran-
tines at the. South Ii Is, therefore, the
more surprising that the volume of all
payments through clearing houses con-
tinues about as large as in 1892, and l6.
per cent. larger than last year. Rail-
road earnings also nearly equal those OF
1892 for the first week Of November. ana |
half the mileage in the United States
shows earnings In October OF $50, 336 49,, |
or so per cent larger than last year, and |
2.2 per cent. larger than 1892
Speculative markets feel disappoint-
ment because prices do not rise faster, |
but II is fortunate for producers and deal |
ers that the experiences of some past
years in that respect has not been re-
peated. There is nothing to cause a gene |
raj reaction. The purchasing power OF
the people is gradually increasing, and |
after the lull which follows extensive re-
of stocks, trade should give
ample evidence of that increase.
The output of iron furnaces November
LIST was 213, l59 tons weekly. against 2OO,l29
tons October 1st-a gain OF 81 per cent,
and unsold stocks decreased 1880 tons
In October. indicating a larger consump-
ton of manufactures than ever before,
by swiftly advancing prices to the highest
$50 tons-November i. 1895. The
prices of iron products rose that year 30 J
per cent, but are now not per cent.
higher than June 9th The enormous out
put. with some more furnaces started In
November. causes but slight decline in
Bessemer pig-slO25 at Pittsbug-with no
decline in other pig there. at the East or
Chicago and no fall in prices of finished
except a shade in angles.
NEW ORDERS.
While most mills have orders for the
rest of the year. and in sheets and some
,ther branches are far behind in delive-
les. new orders are few. but include one
Tor 1000 cars at Chicago. and one for 400
,ars at Pittsburg. another for an armor-
"a ship at Chester. and for three schoon-
.rs here, many for bridges, some for tie
canal at Chicago, a lively de-
nand for hoops, and a large export bust
less. with a quantity of bars for Asia.
Woollen-mills generally have orders for
hree months ahead and are not seeking .
urther engagements. Large sales of spec
ilative lots of wool at prices not stated
suggest that II may be lower before the
Mills need further orders. A year ago the
rice began TO mount, with heavy specu-
alton. and has risen SO per cent. without
eaction in quotations. while the rise in
foods averages but IA per cent.
The decline in cotton, and the slow de-
Weather. have led cotton-mills to confer
bout curtailment OF production, and fur
her reductions have been made in brown .
meetings. drills and prints. and by job
,ers In bleaChed goods. Cotton declined an {
ighth 10 5.S7 cents for mddling upland,
md both exports and takings Of spinners
ave been large.
Wheat cropped over 2 cents. but has
ince risen as much with heavy buying
or export Western receipts continue
two weeks I02S.Og7 bushels.
gaInst l0,5Sl, 1872 bushels last year, while
atlantic exports (nour included) have been
.5s2. O25 bushels. against 3.e2l,231 bushels
asst year. An English authority reckons
ne worlds yield at l6l 100000 bushels less i
han last year, which would mean mar !
et for all this country has 10 spare. :
Corn exports are again larger than last !
ear and the price has risen 5-s cents. 4
ate prices of meat do not Indicate that
armers have as yet much inducement TO
ave corn for feeding.
Failures. 2si in the United States. I
gainst 276 last year, and "a in Canada, n
gainst i6 last year. S
yotgce NJ f.ou<est n