Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-08-13
BUSINESS Is BETTER
"RARELy HAS THE FINANCIAL orr
LOOK BEEN MORE UNcLoupEp,
ACTIVITY IN IRON and STEEL
Large Orders Placed Since Spain ia.
sued for Peace-Thc Crop Prospec,.
Upon the Whole Are Very Enco,
agfng.-Good Times Ahead.

NEW YORK, August l2.-R. @. Dun L
Co.'s Weekly Review OF Trade will SAL
tomorrow:
The prospects OF peace have had a O..
rious influence on business contracts. po,
quite explainable on common-sense
grounds. Nobody really feared dlsasfe.
or exhaustion OF the national resource
and nobody feared that anybody else WA
afraid OF either. Yet orders unusual fl,
number and size have been placed sine,
Spain asked for peace.
In some Industries the gains have bee,
large for about two weeks, while IN som.
textile manufactures IT has only begun p,
appear this week. but II involves a con.
siderable increase in the working force.
THE CROPS.
Crop prospects are, on the whole. mora
encouraging, for the governments latest
report as e corn Is much larger than M,
commercial estimates, and its cotton Re-.
turn promises a heavy yield, while all.
lowance is made for it's habitual error
in it's wheat return. The money market.
show no sign Of possible disturbancs
Securities are stronger, and there Is mn
harmful speculation in stocks or products.
PROSPECTS GOOD.
Rarely has the financial outlook beon
more nearly unclouded.
While wheat is cents higher for .hs
week. there is less doubt than there was
a week ago that it Will rule lower during
the coming year. The general holdin,
back of grain by farmers and the conse.
quent heavy shrinkage i'm western re-.
ceipts have reduced the visible supply De-.
low all past records, but everybody un.
derstands that at THIS date many times
that quantity is almost within a DAYS
run of Chicago.
EXPORTS.
The more effective change IS the de.
crease in exports, which have been only
!, 237, $40 bushels dlour included from both
coasts, against 3.S32974 last year. show.
ng the slight increase of half a million
bushels for two weeks, compared with
asst year.
CORN.
The price of corn has declined a SHADE
'or cash, and the government report
almost two billion bushels
against 1895, 900 bushels, promised bv
accounts, has more weight
because the official returns as 10 corn
nave not been systematically misleading
md everywhere discredited.
COTTON.
slight furry in cotton lifted the price
! sixteenth on Tuesday, but II dropped
gain the next day with official fore
hadowing OF a largo yield.
IRON AND STEEL
The iron and steel trade fully supports
nferences drawn from recent events.
he demand for steel is so heavy that
ONE Of the biggest concerns have been
uying-one taking 100000 tons. ad-
ancing the price at Pittsburg from slO
D $l5.25, which was at last refused. Bees
emer pig is steady. and other pig there
nd at eastern and western markets IS
0, generally. but rails have been ad-
anced by eastern makers 10 SIS per ton.
he makers of structural beams have
dvanced their price 81 per ton, and
takers Of merchant pipe have advanced
he price per cent, while plate makers
re crowded to the point OF refusing or
ers, both East and West. and bars are
ronger, with many mills engaged for
eeks ahead. Illustrating the demand
re- reports OF orders for 5000
lr axles at Chicago. 10000 tons struc-
lral work there. and big orders
Philadelphia for cast pipe, and
700 tons elsewhere. Eastern works
w appear TO be crowded TO their utmos.
opacity. as the western have been for
me weeks. In the minor metals there
heavy buying.
TEXTILES.
Textile-works have been sleeping. but
e awakening. The demand for woollen
'ods is now much better, although not
Z extensive enough TO warrant pay
& the prices asked for new wool, and
,arly all Of the buying has been OK old
ock. The aggregate sales at the three
lief markets have been only 5B270O
unds for the week, about a third Of
e sales in the same week OF 1897. while
1892 for the corresponding week the
les were 10000
The demand for cotton goods Is a little
tier as To staples and fairly good FOR
int-cloths, prints and ginghams, and
[ probably does not suffice TO cover the
trent output
FAILURES.
For the week failures have been 2Z6
the United States against 23g last
ar and IS IN Canada, against 80 last
ar.