The times. [volume] (Richmond, Va.) 1890-1903, 1897-07-17
Scarcely a Feature Now Of the Business
Outlook NOt Hopeful.
GREAT FOREIGN DEMAND FOR WHEAT
Forces Up the Price Of This Cereal-Corn
Also. /. Higher-More Business in
Recorders and the Tone Shows
Increased Confidence.

,s scarcely a feature Of the business out
look which is not encouraging, the sea-
SON considered Crops prospects have
heen improved by needed rains IN some
regions and foreign adviccs continue TO
promiee a large demand. IN many home
industries. particularly in building there
.. more ACTIVITY than IN any year since
1Ngs and the week has brought a better
demand in boots and shoes and in WOOL
ems. while the movement OF treishl' mann
lv iron ore, though tho saulte ste Marie
Canal Is the largest ln us history
With money markets unciouoeu, 'ners
is nothing ln sieht 20 hinder rapid I'M
,rovement when uncertainty about lesls-
iation has been removed. for the miners
efril,s could not last long II business ana
Industries should become active. Inefe
is much less apprehension ot iaAufe
OF fuel supply than there was during the
first few days when prices rapidly ad-
vanced. Large quantities OF coal from
West Virginia have reached northern
markets. but some OF the miners IN that
state have struck.
ADVANCE ~ WHEAT
The advance in wheat 20 81 IA cents
was not due TO tho government estimate
which was followed 10y decline, but 10
foreign advices and considerable buying
for EXPORT. Demand Is already felt from
Australia. South Africa. Brazil. and even
Arceuta. while the promise for European
crous is not considered bright lhe dls-
,ositfon OF farmers 10 keep back wheat
for hlgner prices may Affect the outward
movement. but Atlantic exports nuIlns
Julv. -four Included, have been Sll''itS
bushels against 2&3N' last year al
tboueb fin the same week. 4s-e.3l5 busels
ID.
vear Wheat closed four cents higher Tor
Inc week and corn half cent higher Cot
TON is a sixteenth higher the closing or
Martial stopuage OF important, New Eng
land mills hardly neutralizing IN market
estimation the appfenensions ot INJURY
from drouth.
The cotton goods market does not yet
radnoa largo accumulated stocks as the
Boston were p s62 pounds IN two weeks
curtalmont OF production shows, plt j.
growing a Nttle more Aealthy Wilnoul
change i'm prices. Woollens Tor the com
ing season have not been generally
shown, although on some low-pficed
goods advances Of 7l-2 per cent are ask
Cd and. presumably, viii be asked on
better grades.
There is rather more business IN re-
orders. and the tone Is more conncent.
Speculation On the wool market continues
with prices az all points stronger, at bos-
ton advancing with signs Of boom
among dealers. lu which manufacturers
are taking little part al current prices
and az the West. where holders are
looking FOR a great advance. Imports ~
and dealers are said 10 have bought 10000
bales more I'm London. Sales were l0-
1890 bales az the three markets for the
week. and 2f5-2.So0 in two weeks, ot
which 12g72o were domestic.
OUTPUT or IRON.
The output Of iron furnaces july lst
was lG4Off tons weekly, against lt>t,0
June ist. but several furnaces have gone
into blast since July lst, and the output
is large for the season. Presumably an
unprecedented share Of il is 70 supply
the great steel companies. which are
even now putting more furnaces into blast
and have heavy orders taken when
prices were dropped, while the demand
for structural shapes and plates is large
and for bars improving. though steel bars
are now 81 the lowest quotation ever
known in Pittsburs. s. II 10 90 cents.
with Bessemer pig quoted slightly lower.
Tin plates are also lower al $50 for full
weight. and less than s. IS paid for 100
pounds boxes.
Failures FOR the week have been 2f2
IN the United states, against 2f3 last
| wear. and e in Canada against % last
year.
BRADsTREET' VIEW.
Bradstrcet's tomorrow wlil say.
The duilest month In the industrial year
g. duller than usual Notwithstanding im-
rrovemont among poticrs ana others.
This is due 10 "A reaction in iron and
Steel prices OF which are back 90 the
lowest points on record. dragging dee
mard for boots and shoes. and a threat
cnod famine OF hitlminous coaL Ih.ir
are more coal miners ont than at THIS
time last week. and notW.fn-ian4ir- a--
scrtions that arbitration VIII ehn
the strike in the near iniuIe' some on
the larger operators in the Fltiaours as
trict declare there is nothing lo ai"i-
trate. t
,f,nuract,irers Of cotton goods and their
agents rcnort trade slow owing 20 hlsh-
er cost for cotton and low prices tof
Goods This has shut down NUMBER
~ cotton mills in Massachusetts ana
phode island. a fairly steady business
b. reno-tad hv Eastern manufacturers oi
SHOES hut this trade at PnuadelpAiA l7
dull merchants hesitatins 70 place or
dars Western wholesale dealers IN cloth-
ine raport distribution satisfactory.
Western har-iron mills are already smut
down anli II the coal strike lasts alQll-
or week thousands OF factory wheels wil
ston turning This checks the stronger
and more confident feeling in industrial
/ circles. which was 20 pronounced a foit-
night ago. The heavy loss or sneep IN
Australia. que 10 drought and sprcuia
ton in wool here on tariff prospects have
made wool prices higher, with sales bul
Se000 mounds al Boston alone compared
with 7o0go pounds in the Ike week last
YEAR. The worlds available supply of
wheat Is probably the smallest al n IKE
reriod in many wears Europe is expected
10 have imported 100000 more bushels
than last year. and neither India, AUS
frslia or the Argertine is expected 10 be
! able TO supply its usual share. The een-
eral tendency Of the price movement this
week is 70 reverse the growing strength
OF quotations In the preced'ng fortnight.
EXPORTS or WHEAT.
Exports OF wheat lfour included as
vheaD from both coasts cf the United
States and Montreal THIS week. show
/ the first sharp decline since last April
amounting 10 only l5-2oe- bushels. against
zoe 90 bushels last week, 2fii,tn bushels
ir the second week OF July last year.
I s-gl00 bushels IN the like week OF 1875.
! ! ,-s 0a0 bushels IN lse4 and 81 compared
/ with 07T 600 bushels IN the corresponding
week In ls93.
The heavy decrease IN shipments ~
wheat as compared with last week were
from New York city Baltimore. hos
ton. ard Montreal ExrCrts of Indian
I corn amount 20 ? - so bushels tnis week