The times. [volume] (Richmond, Va.) 1890-1903, 1897-04-24
IHE POSSfBfLIrY OF GENERAL EU-
ROPEAy HOSTfLITIES FEARED.
The Rise I'm Wheat-Larse Sales OF Wool.
Prices of Iron and Steel Lower.
Cotton Not Affected.

due the excitement in grain and stocks
As the unknown IS magnihed. American
markets were much more Eighty than
Europeans where the possibilities
have been discussed and partly
discounted for months But the
uncertainty remains and viii affect the
movement OF money and staples until 1t
disappears. creating a large demand for
American products at higher prices, caus-
ing hasty speculative selling Of securi-
ties at times but also more continuous
buying bv foreign investors, and not i'm
probably influencing the attitude Of for
eien powers on questions important 70
this country.
RISE OF WHEAT.
Wheat rose six cents from Thursday
TO Monuay. and has retained most Of
the rise. Since Russia and the Danu-
bian States will be likely to ship wheat
scantily. especial needs and much higher
prices being possible there. a larger share
Of the requirements OF Western Europe
may naturally be drawn from the more
may naturally be drawn from this coun-
try, and the Chance Of a war between
great powers has the more influence be-
cause supplies held are not large. While
western receipts do not yet increase. and
in three weeks have been but J6il,OOO
lantic exports begin 10 gain slightly,
amounting to 11SO.329 bushels, flour in
cluded. against Loss. 76i last year, and tor
three weeks have been 3,5S.lO bushels
against 3453,679 last year. But the great
increase is still in corn, Of which the
price has scarcely advanced though At
lantic exports were 4.1S9l46 bushels for
the week, and for three weeks lO.22l1 5l
bushels against 26475 last year Al
ready the exports for the crop year have
been 5000 600 bushels larger than Allan
tic exports of wheat and flour and may
so also exceed the total exports Of wheat
and flour from both coasts.
COTTON UNAFFECTED.
Cotton prices have been effected scarcely
at all. though government estimates that
the foods districts yielded nearly
100000 bales. for increased acreage in
other sections is generally reported.
The past week, like others Of late. has
witnessed the starting the operations by
several iron works. especially in the
black sheets for timing, and yet prices
OF pig iron and unfinished products are
lower. demand not yet equaling the sup
ply. Bessemer pig has sold as low as
s9.Oj at Pittsburg and gray forge at $50
in Birmingham Steel bilets fall to $li.2j
at Pittsburg. and angles are strong. and
a few more structural orders reported.
Eastern works also have orders for 1900
tons of steel rails.
Complaint and proof that the demand
for products is deficient. blinds many TO
the fact that the actual work in progress,
largely on the heavy orders for beams,
bilets, rails and sheet bars. taken when
the pools broke up. is OF greater volume
than for a long time. Large sales of cop
per are reported at II y cents. with pro-
duction 1928 tons in March. The end
of stipulated curtailment has been reach
ed by some cotton mills and nearly by all.
and since the auction sale some bleached
goods have been slightly advanced, but
actual buying does not increase, and
print cloths do not improve.
Sales of wool have been largely of for
eign. reports being swelled by arrivals OF
quantities sold some time ago. and i'm
ports at Boston for the week were $1,000
bales For the three chief cities sales
were 81 O36. 500 pounds in three weeks.
20 1890 being foreign. against l5,905,leO
I'm 1892, including $4,000 foreign. But
manufacturers are doing scarcely any
thing. and orde. for goods improve very
little. though for somewhat better grades
of goods.
Failures for the week have been 2lS in
the United States against 2SS last year.
and q in Canada against A last year
BRADSTREET'S VIEW.
Bradstreets tomorrow will say:
The change in conditions underlying
general trade, while slight this week.
has been in the direction of Improvement.
The depression in iron and steel continues
srd Besemer pig and steel billcts have
reacted another p cent q ton. The out
look favors an increase In labor disturb
ances to resist midsummer wage reduce
tions. The bituminOus coal mining In
dustry is worse off than the anthracite
with rumors of strikes, which promise
TO have an unfavOrable Influence on 9TH
or than the iron and steel industries.
Trade in wool is quieter. There IS less
life in the wholesale dry goods trade.
and little relief has been experienced.
Notwithstanding the large auction sale Of
cotton goods last week. buyers continuing
10 supply immediate needs only.
The tendency toward more settled
weather has stimulated retail demand.
more particularly at the Northwest not
ably for dry goods. hardware and mil
linery. The general tendency OF the Mis-
sssipp flood TO subsde has created a
better feeling but not even the recent
Agricultural DEPARTMENT census records
all the damage done. Country roadways
have begun TO improve which benefits
country merchants.
MOVEMENTS OF MERCHANDISE.
The only large cities reporting an in
crease i'm the movement Of merchandise
are ST. Paul. Minneapolis. Milwaukee,
and Kansas City. where the distribution
of dry goods. shoes. hardware and build
ing materials has been more conspicuous.
At almost all other large centres there
has been no material gain in industrial
or commercial lines. New Orleans re-
ports that the sugar lands have escaped
overflow thus far.
Exports Of wheat flour included as
wheat from both coasts of the United
States and from ST. John ~ B., this
week amount 10 1854 G5S bushels against
1874 200 last week 1.12SO0 bushels in the
third week of April 1895. 2 f2l oo0 bushels
In the like week Of '95. 2727 nm bushels in
"a and as comnared with 507. 00o bushels
IN the corresponding period In 1899. Ex-
ports Of Indian corn amount TO 4.76)3l5
bushels this week against 232S.00O bushels
last weok. les than l 00O 90 bus hels In the
week OF 1926. less than half as many I'm
the corresponding week of 1865. and as
compared with 1642.O00 bushels in the
third week OF "a
There are 2Gl business failures through
ont the United States this week com
pared with l95 last week 2iO I'm the third
week Of April. 1896. 223 in the correspond
ing period Of 1897. POI in 1894. ard with
l& In the like week of April. 1896.
There are twenty-five business failures
reported from the Canadian Dominion this
week. compared with thirty-nine last