Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-06-26
CONDITION or BUSINESS.
No Step backward, Though Midsum-
mer quiet IL Near.


ward I'm business. although the season Of
midsummer quiet is near. Improve
ment continues, gradual and prudently
cautious, as before. although evident in
many branches where no signs of II ap-
peared a few weeks ago. Businessmen
OF the highest standing. in all parts OF the
country, having gradually perceived that
the tide has begun TO RISE are regulating
their contracts and investments, and their
plans for the future, with a confidence
quite unknown TO them a short time ago.
Great changes before the adjournment
of Congress are hardly 10 be expected
but the removal of uncertainty Is with
reason expected 10 bring into operation
buying forces which have been restricted
for months The main factor at this
time is the steadily Frightening prospects
for crops. Harvesting Of wheat has al
ready begun I'm some winter-wheat States,
with surprisingly good results in the CEN
tral region and California, so that $4,000
tons are now called the minimum from
the latter State, and statisticians OF re-
pute calculate on 100000 bushels OF
winter wheat beyond the government
estimate. Spring wheat Is doing remark
ably weil with practically unknown
increase i'm acreage. The price has ad-
vanced IL cent during the week. with
a decrease of 10000 bushels in western
receipts. and Atlantic exports of only
14l5gl7 bushels. -four included, against
1.7139G1 last year. but it is just the sea-
son when figures have no value, except as
proving how erroneous were estimates OF
the crop of 1886. Cotton was lifted. and
with reason, and has fallen back as much,
because everything points TO a larger
crop than has been commonly expected.
Iron and steel products average
small fraction lower in published quota
tions. but only because private conces-
sions which are now refused were by
various authorities complacently con-
cealed two weeks ago. Pig IRON Is
fruer. with better demand at the
East and at Chicago, but the impatience
of Valley furnaces to resume work Keeps
Ressemer and grey forge at last weeks
quotations at Pittsburg. The best OF
the news is a material increase in the
orders for plates, in part FOR SNIP
building. i'm bars for agricultural lmpie-
ment works in structural Shapes lot
buildings and bridges and in saNahlneu
sheets One heavy contract TOT ." mlies
of S0-inch and 100 miles OF lo-inch pipe
sought by the Australian Government loi
gold regions, excited many hopes IN the
trade. The great ore-producing compa-
nies are cutting prices of Mesapa besse-
mer. Fayal. to S2.lo. apparently IN order
to score the biggest possible business Of
the year as a basis for future compiha :
tion Tin has slowly advanced to II
cents I'm spite of heavy arrivals. 1.2oo
tons of lead have been sold, moderate
ouantities now bringing $40 l-2 cents, and
ntrchases advance Lake Copper to ii Is
cents.
There is encouraging Increase In the
demand for all textile goods. even for
cottons which have so long been SLOW,
and though It is but moderate. there
is nothing of a speculative character in
the transactions. and prices are firmly
hold Recorders for woollens have been
rather better than were expected from
clothiers. and fairly good for dress
goods. Operations in spring goods are
stiu deferred. While the mills are
somewhat better employed. and are buy
ing to some extent. most of the pur-
chases of wool are for speculation, near
" three-quarters being at Boston alone.
and the aggregate was S,733S00 pounds
AT the three chief markets-5,6l03oO oft
foreign wool. Domestic wool is still held
at relatively high prices at the West.
The failures for the week have been
2l6 in the United States against 2l7 last
year. and 2i in Canada, against 2i last
year.
Bradstreets will say tomorrow:
The persistent Instrumentation Of the
actual state of trade throughout the
country during the past month. in an ap-
parent endeavor to make the prospective
Improvement in business appear 10 be
its present condition. demands an exami-
nation as 10 the facts. and Bradstreet's
presents condensed results Of interviews
with representative manufacturers and
merchants at more than fifty important
commercial and industrial centres east
of the Rocky Mountains. The demand.
except in few lines. is less pronounced
than it was two months ago. There is
no material increase i'm the volume dis
tributed compared with a year ago. and
the prices for many staples are lower.
But there has been an improvement com
pared with the situation prior 10 the
presidential election of 1856. and as con-
trasted with last January. Many of the
larger merchants and manufacturers
haracterize the business record for the
first half of 1897 as disappointment
I'm contrast with anticipations In Decem-
ber. 1896. On the other hand. confidence
Is widespread in revival OF demand
this fall
Of the great manufacturing industries.
iron and steel. cottons. and woolens, the
first shows relatively most Improvement.
and woollens next, although the tariff
DELAYS have taken the edge off demand
in that line and permitted importers TO
stock UP with nearly two years sup
Mics. Cotton goods still suffer from
cut prices. excessive competition. and
heavy production. There is a better de-
mand for silks. millinery, and confec-
tionerv. which. aside from the prosperity
of the bicycle industry, constitute eXcep-
tions. Higher prices for leading cereals.
for meats. and Habana tobacco are note
worthy, and reflect, respectively un-
usually small supplies or wheat, the
strength of the control OF the meat sup
nlv and the existing conditions I'm Cuba.
The exports OF wheat flour included as
vheaD from both coasts of the United
states and from Montreal this week
amount 10 2.155 2i6 bushels. compared with
. Az 600 bushels last week. 2,S37 900 BUSH
els I'm the same week one year ago. 1876. =.
900 bushels TWO years ago, 1,7l7,000 BUSH
els three years ago. and as contrasted
with 3s7l coo bushels I'm the like week Of
1sg3 The exports of Indian corn amount
,o > 2S1 SCI bushels this week compared
with 1.s2l.0o0 bushels last week. l,1S6Oo)
bushels in the same week year ago.
SS4 900 bushels two years ago, $4,000 BUSH
els three years ago. and as contrasted
with lO93,O0o bushels in the like week Of
1898.
There are 2l5 business failures reported
throughout the United States this week
COMPARED with 226 last week 2ls In same
week a year ago 2l5 two years ago. and
as contrasted with lS) in the third week of
June. 1884 Only II business failures are
reported from the Canadian dominion this
week. against 81 last week, 10 In the same
week a year ago. and % two years ago.
An Open Letter to Mothers.