Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-10-16
THE STATE OF TRADE.
Views nnd Reviews of Messrs. Ds N
and Bradstreet.


NEW YORK, October l5.--Messrs. r. q.
Dun az Co.'S review OF trade will say to-
morrow: Foreign trade I'm September, the
heavy increase in iron production and
consumption. and the largest payments
through clearing houses ever known IN
October, are indications which outweigh
some markets.. The increase OF labor mas
continued, with further accounts daily OF
works opening, increasing forces OF hands
| or raising OF wages, ana at every pom.
| where actual production can be tested IL
| appears greater than ever before Ell
forts by the Bank of England have de-
layed further gold exports. but with the
| cotton movement rising, large shipments
| 10 this side are deemed certain, and not
| distant. More gold, however, means less
| just now than more iron.
The output Of pig-iron October LIST was
| 200128 tons weekly, against 1l2,7S2 year
| ago. the Increase since July LIST having
| been % per cent. Unsold stocks have
{ been reduced at the rate OF 4O.Al tons
weekly in September, Indicating a con-
sumption exceeding $4,000 tons weekly
| which is about 20,0OO greater than ever be-
fore and 40 per cent greater than three
months ago. The prices of pig hoid
steady, though the production has been
] further increased since October lst, ana
the prices of finished products gradually
rise with especially heavy demand Tor
| plates rods, and bars while another con-
| tract has been taken by the Illinois steel
| Company to deliver 10000 tons of steel
! rails for Japan and the pennsylvania
| company has bought $1,000 tons.
ore shipments on the Lakes surpass all
| records The Rockefeller company has
contracted for another steamer. with two
ever built for the lakes. Makers of black
sheets have raised the price for NO 2S
| to $40, and wire nails are cents higher,
the average of iron and steel products
rising 6 per cent for the week, TO the
highest point since April 6th. TEMPLATES
are cheaper. at So 10, with enormous pro-
duction, and copper at ll.l2 cents Tor
Lake, with lead at 40. but tin is fairly
strong.
The cotton-mills are producing as largely
as cheap cotton invites. and with mode
rate demand print-cloths are lower az
PA cents, and some grades of other
goods are slightly reduced.
The sales of wool for speculation nave
greatly decreased, but manufacturers do
not find that current prices are warranted
by the market for goods. though IL Is
strong and advancing. The sales of wool
for two weeks have been 2i,33l 600 POUNDS,
| AT the three chief markets. of which 15.-
| 3g7 $50 were domestic. and while quota
tions are maintained. large lots previously
withdrawn by consgnors are now Oh
fered.
The demand for spring goods is limited,
hut the prices of some qualities have adj
vanced a shade further. mere Is also
some quiet contracting already for heavy
weights.
Wheat has been fairly steady. but is
moving more largely than last year from
the farms and among the country dealers.
Western receipts were lo,lb4,Oo4 bushels
in two weeks of October, against l4,2So,0lo
last year and Atlantic exports. 6.i63.iOl
bushels flour included as wheaD, against
4,7i7.S45 last year, while corn exports were
1882 3S7 bushels. against'!.5U9. sZo last year
The September exports of wheat surpass
all records, amounting TO 25,S5S, S3s bushels,
against II GAG. SIS last year, owing TO nlgh
prices, the value being over lOs per cent.
larger for all breadstuffs
The price of wheat has declined "a OF
cent and of corn / per cent, with the
government report Of yield exceeding
500 900. 900 bushels.
Cotton has declined 3-l6. TO 6.A cents
for spot. some authorities OF repute
having published estimates that the ylelo
will be 800 900 bales. but the movement
is yet retarded by the fever
The failures for the week nave Deen
223 in the United States, against 52S last
wear. and 80 in Canada, against Az last
year. ....,..
ACTIVITY LESS PRONOUNCED.
Bradstreets tomorrow will say: The
ACTIVITY IN staple lines OF merchandise -
less pronounced than month ago, OWING
10 interior merchants having supplied
their demands Tor the time a gradual IN
crease OF tho territory included in the
yeilow-fever quarantine. the low price OF
cotton, a tenuency IN the Mlssourl-RiVer
Valley and spring wheat States TO hold
wheat for higher prices, and 10 farmers
being busy with fan planting Unseason-
able weather has had an unfaYorable in
tiuence on the distribution OF merchandise
throughout the Central West, and at
Chicago and St. Louis sales have fallen
on.
A well-informed correspondent Of Brad
streets, after extended personal inyesti-
cation, gives reason for anticipating
much smaller yield OF cotton man the
trade estimates indicate. tie looks for a
Texas crop not To exceed 2,OVOOW bales. or
less than last year, while the Mississippi
Valley will, he thinks produce less than
an average crop, and Arkansas VIII be
in less favorable situation than last
year The long and severe drought, IA
cilitating picking and marketing, he de-
clares. destroyed all hope OF a top-crop,
and will materially cut short the later
yield.
The position Of the cotton-goods in
dustry is no more favorable, but woollen-
goods manufacturers report demand
brisk prices steady, and an unwillingness
in the markets TO accept new orders at
present quotations.
Advances are reported for Bessemer
pig-iron and steel billets, with quick sales,
but prices are firmly held Some steel
mills are not able to keep up with or
ders. The domestic consumption of pig
iron last month was extraordinarily
heavy. and promises 10 greatly stimulate
production
With the slackening OF In the rate of
distribution of merchandise, the upward
movement of prices is correspondingly
checked, and In this Ohe third week in
succession) the number OF staples for
which quotations are lower Is greater
than those which are higher or un-
changed. There are nominal advances
for lard and mems shoes, but the prices
for pork. sugar. and some forms OF iron
and steel. for copper. lumber. coal. hides,
and wool, are unchanged. Quotations are
lower for butter, potatoes wheat, corn,
oats -four. beef. coffee, cotton. print
cloths. and lead.
Wheat exports have again expanded. the |
total for the week being among the largest |
on record. The total exports OF wheathour |
included as wheat, this week from both |
coasts OF the United States aggregate |
6029720 bushels, against SS35.641 bushels |
last week. 4.l6S.a7 bushels in the same |
week a year ago. 10000 bushels I'm 1896 |
8 1872 coo bushels In 1894. 709. 900 bushels In |
1893 and $4,000 bushels In 1892.
Corn exports were 2224.0 bushels this |
week against 2109.000 bushels last week |
III 900 bushels year ago. l,6SD 900 bush |
els in 1896 1853 bushels In 1894 l1230OC |
bushels In 1893, and 7ol, 900 bushels In 1892 |
There were l6 business failures report
ed throughout the United States this
week, compared with z37 last week, 279 in l
the same week a year ago, 2s9 two years /
ago, 253 three years ago. and $40 four /
years ago. There are A business failures |
reported throughout the Dominion OF |
Canada this week. compared with AZ last |
week. 20 In the like week year ago. and
81 two years ago.