The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-05-29
MORE THAN REALIZED
Volume Of Business Transacted Is Much
Larger Than is Generally Supposed.
YET HESITATION IS DOING ITS WORK
wheat Exports Heavier Than FIX.
Pected- Brndstrect's View Not as
fsosy as Dun's- Results OF Trade In
SPrtns Staples Disappointing
Mills CurtniiinS Operations.
New York, May 2S, 1897

New York, May IS, 1897.
Il: q. Dun & Co.'s weekly review Of
trade tomorrow will say:
PEOPLE are actually doing more busi-
ness than they realize. They reckon by
values. but these are much lower than in
any previous year Of prosperity. and
leave little margin for profits In uuan-
t.lty there is almost as much business
peing done as during the years OF great
est prosperity, and though the increase
IN population would call for material
expansion, the comparison Is not dis
couraging. The recovery is slow. hest
tatinE and gradual, but more has been
done on the whole in May than in April,
while returns Of April showed the vol
u1ne or business only 10 per cent. smaller
tnan that OF the best year heretofore
ct hesitation is doing it's work every
week and multitudes are waiting, be-
cause or possibilities at WASHINGTON
VINO ought TO be filling the demand for
labor and the products Of labor.
Events have proved that the crop of
Wheat going out is much larger than
any OF the markets expected, and the
receipts FOR the week We're 30 per cent
larger than last year, while Atlantic
exports have been for the four weeks
o.5aS'52! bushels, -four included, against
4.9SS,777 last year
AT this season actual receipts count
rather than predictions and the truth
is mat the country has exported an eS-
traordinary quantity OF wheat and flour,
ana yet has so much to spare that the
May option has declined nearly a cent
FOR the week. With liberal interior sup
plies The price has declined a fraction.
Cotton is unchanged, although at this
season exports are insignificant.
manufacturers have especial cause Of
delay, owing to the possible competi-
non With foreign goods largely i'm
ported, but this has been no set back
In prices, although cotton goods are dull
without large demand and print cloths
are at the bottom price. 1t is evident
that production far beyond the consum-
Ing demand has forced the industry into
are producing more than they have done
FOR years, though much less than they
could or would like to produce, and man
ufacturers are doing almost nothing in
the wool market. though speculation has
Kept the sales larger-in four weeks of
May. Is, ,SO5.500 pounds. against 20, 159, $50
In the corresponding weeks OF 1892
There is some weakness observable with
Western holders and Eastern prices be
gin to feel the weight Of enormous i'm
ports, although holders still calculate on
a rise as soon as new duties take effect.
The iron manufacture gains in spite
OF the closing Of some furnaces The
production Of pig exceeds consumption
and is somewhat decreasing, while the
consumption has gradually gained. this
tnral contracts, including 10000 tons for
this city. and in part because the agri-
cultural implement works have made
larger demands, and also because OF the
proposed leasing of nearly all the rod
mills in the country. which has caused
some buying. Pig iron shows no change
in price, but it is noteworthy that an
advance Of % cents in the British price
OF American pig is considered relief. as
lessening the urgency to sell Southern
pig in Northern markets. Cotton ties q
80 cents per bundle have quite shut out
foreign competition. Tin and copper are
stronger but the tin plate makers have
agreed upon an advance, and yet the
best grade seems, as before, at $3.50,
against s3.S0 for the foreign.
Failures for the week have been PA
in the United States, the smallest in
any week since September 1895, against
239 last year, and 90 in Canada, against
20 last year.
BRADSTREETS' REVIEW.
New York. May 2S.--Bradstreets' to-
morrow will say:
Results OF the spring trade In staples
which is now over. are disappointing.
The volume of seasonabe merchandise
distributed Is less than expected, with
out taking into account an Improvement
In business compared with year ago.
Neatly all central Western and Southern
I.
Dry goods continue depressed, cotton
products selling with difficulty some
varieties only on concessions. The an
nollncement Of reduced or passed cotton
mill dividends, and that several large
establishments will shut down to enable
consumption to overtakc production,
when coupled with the comparative in
difference Of consumers to the lowest
prices on record for iron and steel, would
appear TO sufficiently characte!ize the
actual condition OF general trouble.
The more favorable features are re-
lative activity among woolen goods
manufacturers, who are working on old
orders: improved demand for shoes and
leather, continuance of the compare
tive activity on the general demand AT
Savannah. Memphis, st. Louis, Omaha,
Sioux Falls, Minneapolis and st Paul
the better demand for lumber at the
West, and In the trade outlook in Louis
lana, Mississippi and Arkansas. IN
creased exports are reported from acif3c
coast ports, but there Is comparatively
little gain in domestic trade here, eX-
cept in cattle, wool and hardware In
Portland. '
Among twenty of the important staple
products only two-hides and wheat
have advanced, while one half the num-
ber-cotton, lumber, coal, bessemer pip
iron. steel billets steel rails, print cloths
sugar, pork and coffee-are unchanged
although there Is nominal advance In
the asking price for bessemer pig and