Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-07-02
TRADESH0W WING GOOD
THE CROP PROSPECTS,, TOO, ARE
GENERALLY FAVORABLE.
PRICES RATHER LESS STEADY,
The Demand for Flags and Fire.
works Tails Year Conceded to BE
Heavily I'm Advance of That OF Any
Year Heretofore.

NEW YORK, July 1.-Bradstreet's to-
morrow will say:
In a period, as usual, devoted largely
to stock-taking, and with holiday and
midsummer influences making for a mar
row and restricted trade, there is little
that is novel to be found regarding cur
rent distribution. The first half of the
year closes with a very satisfactory show
ing In many lines of trade, as evidenced
by the returns of bank clearlngs, railroad
earnings. reports as to the consumptive
and distributlve demands and last, but
not least, by that infallible barometer Of
the mercantile world business failures.
Harbingers of the future are found in
the generally favorable crop prospects,
not only of cereals, but OF cotton fruits,
and most products of agriculture and a
continued heavy foreign demand for
American products.
Few important events are chronicled
this week In the business world The
semi-annual shutdown Of many indus
trial concerns, particularly in those In
iron and steel and glass. and some textile
manufacturing concerns, has been an
nouneed. to occur In the first week Of
July, but this has been without much
effect upon the prices OF those staples
Adyices from the West, indeed, lead to
the belief thst this shutdown, i'm some
cases, may not occur at all this year.
while in others the time devoted to re-
pairs and stock-taking will be consider
ably abridged.
The situation In iron is a rather mixed
one. most complaints coming from the
East. 1t is significant, however, that
the fan in ocean freight rates has been
credited with improving demand for iron
ana steel for export, and considerable
orders have been already booked
The tone of the wheat market continues
bearish, Notwithstanding the fact that
the worlds visible supplies have de-
creased 100000 bushels i'm two weeks,
and that the probabilities are that the
visible stocks OF old wheat on August lst
will be as low, II not lower, than last
years. which were the smallest on re-
cord for seven years. A heavy falling off
in the condition of the Kansas wheat
crop is indicated.
PRICE SITUATION.
Rather less steadiness in prices IS OBJ
servable, most cereals, pork, lard, COT
ton. and several makes of pig-iron being
lower for the week, while the list of ad-
vances IS exceedingly small. Steadiness
has been a feature, however, of raw
wool. hides, and heavy leather, coffee,
sugar. and print-cloths, copper, and lead.
a large distribution of bleached cottons
at price concessions has been feature,
and the demand for flags and fireworks
this year is conceded to be heavily in adj
vance Of that Of past years
Cereals still move abroad in quantities
unprecedented for the time of year.
Wheat shipments for the week aggregate
AIS, 401 bushels. as against S.799, 40 bush
els last week, and compared with 2.77S Si8
bushels in this week a year ago, 2,60l O96
bushels i'm 1896. 2,0O7 O31 bushels in 1895,
and 1,S50.200 bushels In 1894. Corn exports
show decrease from last week aggre-
eating 260l,56O bushels, against 1902 32l
bushels last week, 1922, 93S bushels a year
ago, 1,95S,63l bushels in 1896. 38S,S53 BUSH
sbs in 1895, and 539, 100 bushels in 1894.
In spite OF the unfavorable features,
there were fewer failures, smaller labili-
ties, aud consequently smaller assets this
year than in any previous year for four
years past.
Business failures number 6,42a-S per
cent. fewer than year ago, Is per cent.
less than in 1896, and only per cent.
larger than in 1893. Liabilities, too, are
smaller aggregating s72,120. 341-23 per
cent smaller than last year, 81 per cent.
smaller than in 1895. 95 per cent smaller
than in 1896, and 81 per cent. below those
OF 1893.
Business failures I'm Canada for six
months OF the present year make de-
cidedly good showing. They number Sl3,
involving s5.799,G43, a decrease of "a per
cent in number and in liabilities. as COM
pared with last year. and making still
better comparisons with earlier periods.
D.ez.. H.se HALLIDAY