Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-05-21
THE STATE OF TRADE
WASTE OF TIME TO WAIT FOR
wAR-CLOUDs TO PASS.
PROSPERITY GREAT.
IL OyerbaIances Tfmidfty of Eastern
Capital and Makes business Done
show an Increase-Prospect of Good
Crops.
Crops.

NEW YORK, May 2.-Messrs. II. G.
Dun K Co.'S weekly review Of trade will
say tomorrow: Growing accustomed to
war possibilities. which are mostly far
| from probabilities OF evil. and finding the
nation moving along steadily in its In
dustres, people are grasping the idea
that il is throwing away some months OF
active and profitable life to wait until
war-clouds have passed. Western pros
perity has so greatly overbalanced
tmidity on the part of eastern capital
| that the actual business done increases.
Railroad earnings promise better for May
| than month ago for April, and pay
nents through clearing houses for the
third week in May show a gain of 50 per
cent. over last year and rs per cent. over
1892, while a month ago the increase over
last year was 1876, and compared with
1892 there was a decrease of ~ per cent.
Several large contracts, kept back for
some weeks because Of the hostilties,
have now been placed, and instead of
works closing or reducing force, returns
show the starting Of some works long
idle, and an increase of force or of hours
at others. Government work occupies
many establishments, but 1t counts for
little, compared with other demands.
PROSPERITY OF WEST.
The key OF the situation Is the pros
perty of the West. which the altogether
unprecedented marketing OF breadstufs
has caused. with the prospect OF good
crops to come. These prospects, and ac-
tual receipts OF wheat amounting 10 s.
sac, ZIG bushels for the week, against b.
439, 1863 last year, with advances also in
other grain and i'm cattle, have produced
a demand for rails, cars, car materials,
fencing. agricultural implements, boots
and shoes, and all textile goods, which
was not anticipated from eastern indica-
tiOns. Exports OF wheat do not diminish.
but In three weeks. from Atlantic ports,
flour included. have been 1856, SIS bushels,
against 4,77S742 last year. and from Paci-
fic ports 1,73S,l23 bushels against 6l0637
last year. The price of May wheat fell
Az cents on Saturday. rose cents
Tuesday and closed 5l-2 higher for the
week.
In iron. Notwithstanding the greatest
output ever known, the demand has
caused some advance in Bessemer pig.
with only a slight decline I'm the price
of grey forge at Plttsburg. but full quota
tions are obtained at Chicago and Phila-
delphia
TEXTILE WORKS.
The textile works are doing rather bet
ter, even the cotton-mills. in spite of
their overproduction. for some Of large
importance have recently started again,
and print-cloths are a sixteenth higher.
Numerous woollen-mllls have been
pushed to new activity by government
orders. and prices for a few grades of
goods are better with a stronger tone
in the market generally, although some
mills Of Importance have stopped, as their
orders for the season have run out.
While sales OF wool are small, $780,
900 pounds for the three weeks past,
against q. 963 700 last year, the manufac-
turers have ample stocks, although some
are obliged by government orders 10
seek In the market grades of wool which
they had not expected TO require.
Failures for the week have been go
i'm the United States. against PAS last year,
and twenty-nine in Canada, against
thirty-seven last year.