Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-08-14
THE BUSINESS REVIVAL.
Every City Reports Trade Increase
and bright Crop Prospects.

Every City Reports Trade Increase
and Bright Crop Prospects.
NEW YORK, August 13.-Messrs. X. U.
Dun q Co.'S weekly review OF trace 10
morrow will say: Every city reporting
this week notes increase ins nearly all
branches of trade, and bright crop pros
poets. The great change IN business is
emphasized by the presence OF large
number Of buyers from all parts OF the
country, by their statement OF the situa-
tion at their homes, and more forcibly
yet by the large purchases they are
making But the Gus .omary signs OF
prosperity are not lacking. The strong
rise in stocks, the growsh Of bank clear
ings and railroad earrings, the heavy
speculation in many products, but, most
OF all in wheat, have made the week one
OF SURPRISING interest, zen 10 those VINO
best remember the upward rush in 1879.
At the principal ciearin houses through
out the country payments in July were
for the first time slightly larger than In
1892, and IL per cent larger last year. In
the first week of August they were ~
per cent larger than In 1892, and 2S.f per
cent. larger than last year, and in the
second week Of August they were lI9 per
cent. larger than In 1892, and 3Sl per cent.
larger than last year.
The great crops, and the haste Of for
egners TO buy and chip wheat. in view
Of the shortage elsewhere, have made
the week more memorable. The taking
Of profits by pool lowered the price
cents on Saturday. but n has since risen
cents. Western receipts, slow in July,
| have in two weeks been 73l6,7l3 bushels,
| against 6,722,3G2 last year, and Atlantic
| exports (iour included) have been in the
| same two weeks. 6.ll4,03l bushels, against
| 3,3Si,3l3 last year.
Even the demand for corn, by greatly
| exceeding that Of last year, shows that
| foreign anXieties are serious, for 500. l25
| bushels have been exported In two weeks
| from Atlantic ports, against 25li, l2S last
| year. The price has advanced LIZ cents,
| Notwithstanding enormous stocks being
| brought over.
The urgency Of French buying OF wheat,
reports that Russia will stop exports in
| order to keep supplies for itself, and con-
| tinued shipments from the Pacific coun-
tries usually having surplus, make even
| the largest estimates Of probable supplies
not too great for the possible demand.
| In all the great industries, a large de-
mand for products appears with strong
| speculation in materials and intermediate
| products. In the iron and steel branches,
| the starting Of many works after settle
| ment Of the wages question, keeps the
| price low, and even depresses some, but
| the fact that the demand Is growing leads
| 10 heavy purchases Of irOn-Ore-2000 0Op
| tons at Cleveland In n week-and Of bill
| lets, 1000 tons, while concessions recently
! reported I'm pig-irOn have ceased. The out
| nut OF furnaces during August was lGj 7SJ
1
| crease in known stocks unsold indicates
| consumption for the two months past
| averaging $4,000 tons weekly. which is
| more than in the same months of 1892
though below the greatly increased ca
| pacity of the works now. Sales OF tin
| are moderate; Of copper, TO American
| consumers, large, 1t is said. at II cents for
| lake, but heavy sales of tin-plates are
| bringing i'm slightly better prices
All textile Industries are encouraged
| by a greatly improved and really large
| demand for goods, which causes many TO
| advance in price. With production much
| curtailed, stocks OF cotton goods are
| rapidly. declining. and in woolens, ad-
vances have been made in clay worsteds.
| and mixtures, fiannels, and Middlesex
| suitings. Speculation in wool continues
| with prices about l cent higher, but sales
! OF 23,499,s 800 pounds in two weeks show
| the willingness Of some holders 10 realize.
The failures for the week have been 239
| I'm the United States, against 2JS last year
ana 30 in Canada against SO last year.
| WIDESPREAD REVIVAL
Bradstreets tomorrow will say: Evil
| dences of widespread revival I'm demand
] for merchandise and other products have
| become so numerous as to compel gene
| raj recognition. The press has, therefore
ceased discussing whether trade has really
improved or not, and has begun measur-
| ing the volume OF business, compared
| with preceding PERIODS.
| A buoyancy Of feeling has appeared
among buyers and sellers at New York,
| Baltimore, Chicago, St. Louis, and Kan
sas City. where the interior merchants
| have thrOnged this week, 10 an extent
| the like of which has not been seen for
several years. Merchants are buying dry
| goods. clothing, shoes. groceries, and
| fancy articles far more freely than at
| anv time since 1892. Crop conditions have
| improved at the South and Southwest,
| and merchants there are encouraged.
| Southern lumber-mills are not able 10
| keep up with orders, and innumerable
| small consumers Of iron and steel
| throughout the Central Western States
| are buying raw material as they have
| not done before for years. A nominal ad-
| vance OF 70 cents a ton for steel billets
| is more than feature, as IL means the
| confidence OF the makers In an early re-
| vival of the demand for iron and steel
which has been so long delayed Wheat
scored an advance or cents, on con-
/ tinued heavy exports and a tendency to
| decrease estimates OF the size OF the do
! mestic CROP Wool Is higher on sDecula-
| tive holding and cotton yarns have adj
/ vanced again. Hides and southern lumber
! are up. as are wheat, flour, Indian corn
and oats and last, but not least, print
cloths. the market for which has been
| so long depressed. Prices for sugar. cor-
| fee lard, and petroleum remain un-
changed. while pork Is almost the only
important product quoted lower than last
week.
| Exports from DOtn COASTS or the United
| States and Montreal this week aggregate
| 4.46O5l9 bushels, an increase over last
week OF more than 1l0o,0oo bushels, and
| compared with shipments i'm the same
| week a year ago, OF l655,Oo0 bushels
| The worldwide character OF the de-
| nand for our wheat and -four Is illus
| trated by the exports from both coasts
OF This country TO such far-off and infre-
| ouent cities as Rio de Janeiro, in Brazil;
| CalIao. in Peru, and Surabaya, in the
I island of Java, not 10 mention heavily
| Increased shipments 10 Europe. China.
and the East. The total exports Of Indian
| corn aggregated 3.275.652 bushels. against
| . 99s 90 bushels last week, 2.S67. coo bushels
In the same week a year ago. 9AO00 BUSH
els in 1895. 10000 bushels in 1894, and
| IA OO0 bushels in 1888.
There were 23i business failures report
| sd In the United States this week. 20
| last week. 25s in the second week OF Au-
srst 1895. Is5 in the like period in 1895
"a In 1894, and 2Os In the like week OF
| 1893.
There were 81 failures reported from the
| r,oroinion OF Canada this week. against
| Al last week, IS in the same week a year
ago and 70 two years ago.