Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-05-08
THE BUSINESS SITUATION.
An Ast0nisEing Fact That Ii Also
Encouraging.

NEW YORK, May 7.--R. G. Dun e Co.'S
weekly review of trade tomorrow Will
say: Nearly all will be astonisned 10
learn that the actual sales In Aprii py
leading houses In each line OF business
in the principal cities east OF the ROCKY
Mountains average only about 10 per cent
less than in April. 1892, the year OF largest
business hitherto, and were 81 per cent
more than in the same month last year.
Yet this is the summary OF 3oI reports,
each covering the actual sales OF ieaoihs
merchants in IA line of business IN one
of fourteen cities. They are especially en-
couraging in view Of the great ran OF
prices within the five years. and with ex-
ceptional floods and other retarding IN
fiuences this year. While speculative
business in nearly all lines is small, ana
does not swell clearing house returns, as
I'm previous years. the volume or iegiu-
mate trade shows no corresponding de-
crease. and the fact Is one of the highest
Importance In all business calculations.
Moreover, the returns OF failures for
April by branches OF business given only
by this mercantile agency snow de-
crease in number, amount. and average
Of liabilities in almost every branch OF
trade. and in nearly all branches OF manu-
facture, except cotton. although the falI-
ures of five New Bedford mills for N,yyO.-
73i make the total OF defaulted liabilities
for the month 40 per cent. larger than last
81 per cent. larger than in 1894. The value
OF reports tracing failures to particular
lines Of business is mpressively Illus
trated.
Crop prospects are little better for
cotton. because OF the passing Of floods
and the increase of acreage. etc., Tor
spring wheat, because the customary ac-
counts OF injury TO winter wheat begin
TO appear and stimulate larger sowing
of spring wheat than usual. Western re-
23S.6O5 bushels, against 2,2S,972 bushels
and Atlantic exports also increase,
amounting to 1,l98,l6 bushels. -four in
cluded against 1.040.l7 bushels last year
The weeks exports of corn--2. SOB BUSH
els-are smaller than in other recent
weeks. The wheat market declined cents
until Tuesday, and then rose IL cent.
Liverpool speculations lifted cotton to IFS
cents. but it has lost sixteenth, and the
consumption in manufacture does not ap-
pear to be increasing"
The demand for cotton goods has not
met expectations, and neither the pro-
longed curtailment OF production by many
mills, the large distribution Of goods since
November. nor the great auction sale has
yet sufficed to reduce the surplus of goods.
Print cloths are again lower, at 24 cents,
the lowest point ever reached In previous
years AID, though some kinds OF goods
have found sufficient demand to advance
prices a little, the expectation OF better
prices and larger consumption in future
still seems to push the mills to exceed
present wants.
The same is true of wool manufacture
in many branches. for orders and sales
thus far do not call for as large produc-
tion as appears. though II is yet much
below the maximum, but the increasing
demand has been encouraging. The sales
of WOOL at prices Arm. but no longer
rising. fall much below recent records.
indicating that speculators are growing
less sure of early profits, In view Of
enoryous supplies on hand. At the three
chief markets they were S.035, 200 pounds.
of which 800 were foreign, and ip five
weeks the sales have been 1879, $50
pounds, against q, ,327. 100 in the same
weeks of 1892, when the mills were well
employed.