The times. [volume] (Richmond, Va.) 1890-1903, 1897-05-08
THE WEEKLY TRADE REVIEW
PisuTtS Show That Actual Sales Have
Been Surprisingly Heavy.
COTTON PROSPECTS MUCH BRIGHTER
On Account OF tho subsidencc of the ,iisss
issipp4 Fioods-The Iron Tiade Out
look Not So Favorable-Demand
for Wool Increasing.

| CO. weekly heNitW OF 1Iaur to-nOllv"
will say:
Neo4iy all will be astonlshed TO learn
that actual sales in ApTli by leading
houses in eacn line OF business IN tnc
principal citles east OF the 4.ocky Noun
tains average only about 10 per cent. less
than in Apnl, 1877, tne year OF largest
| business h4tncrtO, ana Neic'v.i per ,rrt.
| more tnan IA tne sd.lc month last year.
| Yet TINS Is the summary oI ao' reports
! cacn GOVERNS actual sales or icauiu-
! merchants IN q inc OF business IN one OF
! fourteen cues. Incy arc ecpvcidl'y en-
/ CouTallng. in view Of me great Idll OF
! prices WIthin the i've years, and with
exceptional nooos and otner reiafcing IN
| nuences this year. Nnle speculative
| business in nearly all lines is small ana
| does not sven clearing mouse returns as
ia previous years the volume OF legiti-
mate trade shows 10 corresponding ue-
/ crease. and the fact Is one or highest I'M
/ pOriancc in all business calculations.
| Moreover, returns of failures Tor Apih ny
| branches Of business, given only by the
| mercantile agency show q decrease IN
number. amount. and average or laolu-
| ties in almost every branch Of trade. ana
| in nearly all branches OF manufacture cA-
| cept cotton although failures OF I'VE New
| Bedford mills for $3.50. i3i. make the total
| defaulted liabilities for the month ~ per
| cent. larger than last year. 90 per cent.
| larger than in 1895. and - per cent. larger
! than 1894. The value Of reports tracing
| failures 10 particular lines oI business Is
| thus impressively Illustrated.
COTTON PROSPECTS BRIGHTER.
CrOn prospects are q little better for
cotton because of the passing Of flooh
| and the increase OF acreage etc., LOT
| spring. because the customary accounts
| Of injury 20 winter wheat begin TO ap-
| pear and stimulate larger sowing or
! spring wheat than usual. Western re-
| ccpt5 continue larger than last year,
| being 23fS.60J bushels against 2,2Os,9i2. and
| Atlantic exports also increase amounting
to l.A9S 167 bushels, hour included, against
1910 l67 last year.
Thc weeks export Of corn, 2725.Ois BUSH
els are smaller than I'm other recent
! weeks.
The wheat market declined . cents until
| Tuesday and then rose l-Zc.
! Liverpool spcculatons lifted cotton 70
| 40 cents. but 10 has lost a sixteenth, and
the consumption in manufacture does not
/ appear TO be increasing
The demand for cotton goods has not
met expectations and neither the pro-
! iOnged curtailmcnt Of production by
| many mills. the large distribution Of
| goods since November nor the great auc-
| tiOn sale has vet sdfllceG 10 reduce the
surplus Of goods. i rlnt cloths are again
| lower at 2H cents the lowest point ever
/ reached in previous years and though
some kinds of goods have found sufficient
| demand 20 advance prices little. the
expectation Of better prices and larger
/ consumption In future still seems 10
! push the mills 10 exceed present wants.
INCREASING DEMAND FOR WOOL.
! The same rs true or NOOi f1nnnfncfnfe
/ IN many branches. for orders ana sales
! thus far do not call for as large produc-
tion as appears. though IL is yet much
| Below the maXimum. but the Increasing
| demand has been encouraging. Sales or
/ wool. at prices firm. but no longer ris-
/ faf n
! dicgting that spectators arc growing
less sure Of early profits IN view of enOr-
nous supplies on hand
At the three CHIEF markets they were
! S0ZjZo pounds. OF which 5,tiicO were
! foreign. and in five weeks thc sdles have
| been 40, i5IsJ0 pounds against z3azhlV9 IN
the same weeks Of 1892, wren the mills
| We're well employed.
The anticipation Of better prices and
| g7cater increase i'm demand pushed pro-
/ duction so far in iron and steel manuf0c-
! turc that four furnaces in eastern Penn
| srlvania and otntra I'm the Plttsburg re-
| riOm and Ohio have stopped. Bessemer
| pig az Tittsburg has declined 10 S9.4O and
| Grey Forge 10 $40. Pressure 10 sell
| billcts lowers thcm 70 ST. tank steer
| plate have SOLD below one cent, ana COM
! mon bars az 90 cents per one hundred
! pounds with black sheets In light demand
/ gt SlN fOr No. r. yet the structural
WORKS are well employed on old orders
| with others coming in. one Of 2OWW tons
! for the Montreal bridge and others at
| The cast and at Chicago. The rail works
! are mn busy ON orders taken months ago.
though there are eiIorts, TO o. r.-.Ne the
! pool one contract for 10000 tons steel
| plates Is reported and Some or tho TIM
| plate works are sold ahead for the year.
The visible supply of tin has increased
| 1900 tons in April and the prico Is a
| SHADE lower at l3.ZJ cents.
| The heavy sales Of Lake copper are
! believed 20 cover some large consumers
| for most of the year.
| Failures for the week nave been 81
| in the United states against 2.S last year
! and Sc I'm Canada against q last year.
AS BRADsTREET SEES IT.
NEW YORK. May 7.-Bradstreets to-
morrow will say:
Favorable business features this week
! include the continued decline Of water
/ I'm flooded districts of the Mississippi
| River Valley. in a portion OF which plant
! Ing has begun: better demand for staples
at Baltimore ST. Louis. Omaha. Miwau-
/ kce ST. PAU. and Sioux Falls larger
sales Of iron ore 10 western furnaces
| and revival Of activity among country
| merchants in some Central western
/ States
Unfayorable trade features include the
| further decline OF prices for Bessemer
pig iron and steel Dillets, with production
| of pig iron iu excess OF consumption anu
/ the prospect favorable for blowing ont
/ number Of stacks Cool weather West
I has checked the retail demand. and COM
/ laints are received from wholesale deal
crs In shoes. clothing. and dry goods.
| Low temperature has retarded the
growth Of cotton and corn 10 Texas, and
IN Kentucky the leaf tobacco crop WIFI
/ be short The lake trade outlook is not
| satisfactory; the movement Of building
material is slow; mercantile collections
show no improvement. and the spring
trade IN general continues disappointing.
WHEAT EXPORTS. .
Exports Of wheat from both coasts OF
the United states and Canada this week
| flour included as wheaO amount 10
! /. .799. 800 bushels as compared with ll55.m0
( bushels last week, 1.Ss2.0O0 bushels in the
week a year ago 2 S05.000 bushels two years
ago. 2.Sl5.OO0 bushels three years ago. and
as contrasted with .,1l2o0O in the Ike
week OF 1893
Exports Of indian corn amount to S,l2i.-
ISL bushels this week. compared with
1861 900 last week. $4,000 bushels In the
week n year ago. $4,000 bushels two
years ago. 10000 bushels three years. and
as contrastcd with lOi6.O00 bushels In the
; like week Of 1893
The total number or business failures
throughout the United States this week
does not vary materially from what may
be regarded as the average II recent
years for q corresponding period. amount
| ing 10 22S against pa last week. 267 IN
the week one wear ago. 22i In the week