Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-01-30
THE RICHMOND MISREPRESENTATION. JANUARY 30 1887

wheat oats, lard. coffee, petroleum, tur-
pentine. and tln-plate. The quotations.
for Indian corn, pork. sugar, cotton
and print-cloths are practically un
changed Concessions have been mace
In the prices for iron and steel, yet quo
tations are nominally unchanged.
Messrs. r. G.. Dunn & Co. VIII say
tomorrow, in their weekly review OF
trade January has been month OF
disappointment. but of real gain. Near
ly every one had promised himself
land OF milk and honey after new years
and the slow progress looks IKE
standing still to men In such state
OF mind. Moreover. there are multitudes
throughout the country who have Deeh
taking large ventures In advance OF OF
apart from their regular business, De-
cause they expected a rise In prices.
But prices fail as yet to bring them
profit Wheat has declined severely;
cotton has scarcely risen enough 10 pay
brokerage; wool holds steady, In spite
of enormous buying; woollen goods
hardly change I'm price, iron ana us pro-
ducts decline; leather is sluggish; hides
are lower. for some shoe-manufacturers
accept q shade lower prices the ave-
rage of railroad stocks is slightly lower
than IL was December 3ist, and the adj
vance i'm trust stocks has been small.
To traders in such properties the
month has been disappointing. Yet, du-
ring the week, the record shows that
ten iron-works have started, ana only
two have stopped; thirteen woollen-
works have started, and nine more are
about ready TO start, while three nave
stopped. Similar things are seen IN
other Industries, and the additional es-
Establishments are not starting without
In received. |
would do more harm than good to ex-
aggerate the Improvement. But study
of conditions governing business indl-
Gates that the wheels are on the right
track. and moving i'm the right direction.
Men talked Of a possible drain or gold
a month ago. but January has passed.
and the liquidation Of foreign Indebted
ness to this country seems further OH
than ever. Merchandise exports from
New York i'm January have been about
per cent. larger than last year, and I'M
ports Is per cent. smaller than last year
when the excess of exports was over
$4,000. coo; while cotton exports from other
ports have also been larger. The
month has not diminished. but has in
creased, the current balance due this
country. Money markets become more
easy. and favorable to expansion Of in
dustries and legitimate business.
The decline i'm wheat of over cents,
I'm spite Of an official report of yield far
below the estimates generally accepted,
reflects perception of the error of the
report and also of the influence Of enor-
nous exports Of corn. instead Of wheat
$4,000 900 bushels. The Atlantic exports
of wheat and flour were 6535,1J bushels,
against S,4O3 765 last year. AS the great
crop Of ccrn prevents much advance In
for wheat, and a heavy liquidation of
speculation has occurred, with the price
Of corn scarcely changing. The largest
article Of export at this season goes out
freely. but cotton looks less attractive TO
traders, because the American mills arc
laboring over plans to reduce the great
surplus of goods, and prices in many
case. have declined. The takings Of
northern spinners have bden, in five
months. 1900 bales less than last year,
and 1923 900 bales less than I'm 1s9i-'95.
The iron and steel manufacture shows
little gains, production having increased
so heavily before, and the gradual en-
largement of demand for finished pro-
ducts has not Overtaken that increase.
Lower prices result for Bessemer pig,
for grey forge, for southern iron at
Chicago, and for cut nails. and the ave-
rage of all quotations is the lowest since
early last year. For sheets, there IS an
active demand, and the demand is bet
ter also for bars, on account of much
car-building. Tin and copper are a shade
stronger, but competition causes sales Of
tin-plates 10 to Is cents below the agreed
price
The failures for the week have been 81
In the United States. against f0i last
year, and fifty-seven in Canada, against
seventy last year.