Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-07-16
BUSINESS QUIET.
CONFIDENCE, HOWEVER, II Pro-
Missing OUTLOOK FOR FALL TRADE.
The PRICE SITUATION STEADY
favorable Conditions of First Half
of Year Seem Bound to BE Duph-
Gated During the Second HnIf-
Failures Few.

NEW YORK, July l5.-Bradstrset's to-
morrow will say:
Pending the initiation Of new fall BUSH
ness. preparations for which are actively
under way in all markets. there exists
quiet midsummer condition. accompanied.
however in most cases by price steadi-
ness and confidence in promis ng out
look for fall trade. Retrospection and re-
view continue to furnish many Hatisfac-
tory illustrations Of the favorable condi-
tons experienced during the first half Of
the present year. some Of which seem
bound to be duplicated during the second
half. While there seems little reason to
expect anything like the excited foreign
buying OF cereals this year which oc-
CURED last season, the worlds wheat
crops all pointing TO exceptionally large
il not record-breaking, Yields, still the
situation of carried-over supplies visible
and invisible, is such as to lead to conf
dence in good general demand for most
of this country's surplus, though the out
look favors a considerable shading of the
prices obtained from such products.
There is a little more hopeful feeling in
the iron and steel trade. the result partly
of reduced output and stocks Of Iig and
partly owing to the large business re-
ported, particularly at the West, where
some mills Will forego their usual sum-
mer shut-downs. and others will curtail
the vacation period materially Except
for some shading In cereals, caused by
the usual tendency to discount govern
ment crop reports, and the look ng for
observation-disclosures crop yields, the
price situation Is one of considerable
steadiness. Contradictory reports come
as to the volume of export trade in wheat
and corn at the decline but good bust
ness for this time OF the year is I'M
doubtedly doing The movement Of new
wheat at the Southwest is also freer,
though farmers are rather independent
at present prices.
Trade continues of a midsummer dull
ness at the East, but more inquiry for
raw wool is feature, and prices are well
maintained, on a fairly large business for
this time of year.
SOUTHERN SITUATION.
Good cotton, sugar. and rice crop pros
poets give an undertone Of strength TO
the southern trade situation, which is,
however, rather dull at present, except
at New Orleans. where fall orders are re-
ported Of good volume. Features OF the
trade movement at the West are an i'm
proved demand for iron and steel ut Chi
cago. Louisville and St. Louis report the
fall trade outlook as good.
Our cereal exports still continue in ex-
cess Of corresponding periods of previous
years. wheat and -four shipments aggre-
eating 2,9l0,2 S7 bushels. as against 2.72S642
last week. and comparing with l.522082
: hal in ,
bushels in 1896. 1852 BOZ bushels in 1875, and
!, S73, 800 bushels in 1894.
Corn exports show an increase from
last week aggregating 2S92,24S bushels, as
against 2.411 ,272 bushels last week, 2723 ,51l
bushels in the corresponding week year
ago. 1.110,31 bushels in 1895. SS5.512 bushels
In 1895, and 1900 bushels In 1894.
Business failures in the United States
number 23s, as against al last week. 247 in
this week year ago, 255 in 1896, and PA in
1895
Business failures in the Dominion num-
per 2s, against 100 last week, IS year ago,
g in 1895, and % in 1895.