Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-19

Favorable Features Dominate, ON
the Whole.

the whole.
NEW YORK, February ls.-R. q. Duns
Review OF Trnde tomorrow Will say; Inc
dreadful disaster 10 the Maine, much as u
| has affected all hearts. has not much al
| fected business. In the stock marker
| there was selling Wednesday by specuia-
|. tors on thin margins. but no other specu-
lauvf market was affected.
The advance OF 10 per cent. In wages Dy
some Gogebic mines il expected TO pe
general throughout the Lake region. ex-
cepting the Mesabi District. and prices
or ore from the other ranges this year
have been advanced IL per cent, with an
allotment OF 100000 tons outside OF re
Carnegie mines, which betokens an out
put mich the largest ever known.
Wheat has risen 3 3-s cents, and exports
continue so heavy that a material advance
Is natural. Atlantic exports In three
weeks have beer S4l6. 4b bushels Ciour IN
cluded), against 5.66le7i last year. ana
Pacific exports have been z,E6.6oz, against
heavy engagements for the future, IN
spite of II 430 S31 bushels corn exported.
against f25O7,2lf bushels in the same
weeks last year, are conclusive PROOF OF
the urgency OF foreign needs. Wheat re-
ceipts hold up well, though not exceed
ing last years as much as exports IN
three weeks-7775.5 bushels. against
4s8i.7fO last year The bottom fact Is
that the world needs wheat Wnicn TINS
country only can supply Tor ABOUT SIX
months 10 come.
Cotton is held unchanged though lit
tie lower for options. the prospects OF de-
crease In the next yield being the main
support The iron output February ISL
with reports OF stocks on hand not held
by the great steel companies, indicates
consumption at least 1900 tons per week
greater In January than the previous
maximum attained I'm November, 1885. The
production is at present greater than the
consumption, stocks having increased y'Oi6
tons weekly in January outside the steel
companies, whose stocks presumably de-
creased. Some weakness in pig would
naturally, result but while gray forge has
declined AT Pittsburg to $3.50. with south
ern iron offered at Chicago at conces-
sions. no changes appear I'm products.
Though new business has been somewhat
disappointing, the works are mainly sup
piled for months ahead. In rods, wire.
and wire-nails increased demand ana
heavy business appear, though bar ana
pipe are weaker, and structural orders
are seasonably slow. Minor metals nave
advanced-tin to 1920 cents on considera-
BILE consuming demand; copper TO IL Ia
for Lake on heavy exports: Lead 3.S.
and spelter to 40 cents. on speculation
but failure TO organize the tin-pool causes
weakness, American selling at 81 ana
lower at the West.
In the cotton manufacture production
Is restricted by strikes, and some grades
are a shade dearer. The recent opening
OF higher grade woollens at an advanced
price meets less demand than was ex-
pected with less activity in lower grades.
and Unexpectedly numerous cancellations
In light weights. indicating larger buying
than consumption.
Failures in the United States have been
295 in the week, against 303 last year, and
50 in Canada, against SO last year.
BRADSTREETS VIEW.
Bradstreet's tomorrow will say: Favor
able features dominate the general situa-
ton aS a whole, and few commercial con-
ditions present themselves which can be
regarded as in any degree disturbing.
Chief among those factors which account
for continued or growing strength in COM
mercial lines may be mentioned the re-
newed tendency toward advances i'm the
quotations OF all staple articles, and the
steadiness Of prices in other lines, where
the increases are not at the moment re-
portable. Perhaps second in the list OF
suspicious features is the continuance OF
marked activity in nearly all branches OF
the iron and steel trade. more particularly
I'm the Central West, where IL Is authori-
tatively reported that over 80 per cent. OF
the pig-iron furnace capacity is I'm blast
The failure Of the southern furnace men
to reach price agreemeH, is, OF course,
a depressing feature in that particular
section; but II finds a cOunterDalancing
factor III the lllcUllOil 10 dONdHIt piiAtos
reported from the Bessemer ore-pro-
ducers
The volume Of distributive trade shows
an increase, notably in dry-goods and
groceries, also. many widely-spread ar
ticles At the West iron and steel-mills
are reported generally busy, and unwill-
ing to take orders for early delivery. AT
Chicago 1900 tons of steel rails have been
sold in the past two weeks. The bicycle
trade is reported as starting uD We'll AT
l.. L,.4 l.. .ff utrN af hn lGf
where however. the cotton-goods situa-
ton Is one of hopefulness, owing To the !
OF raw material, and the re-
striction Of production, due TO the New
England mill strikes. The strength of cot
ton, sugar, and rice and the demand for
ron all favor the southern trade situa-
ton. which is also being helped by the |
growing foreign trade in cotton goods. The |
activity in Alaskan shipments keeps yes
sells busy on the Pacific coast, and freight |
rates are firm. California crop prospects |
are not encouraging as a whole.
Business failures continue TO decrease. |
being only 269 FOR the week, against 2I5 |
asst week, 325 in the corresponding week |
If 1897. 276 in 1896, 327 In 1885, and rs In |
S9i OF the total number OF concerns \
'aillng, 81 per cent. had a capital not ex-
,eeding 5000 and So per cent. had capt.
al below 10000.
AS above intimated, the price situation
Is one of great strength. Compared with
use is reported lower, although some low |
grades of wool would have TO be shaded |
4 free sales were desired. This is owing |
10 the absence of manufacturers from the |
market during the past few weeks. Prices |
Of nearly all kinds OF grain, but. notably |
wheat, corn, and flour and of most
metals, particularly steel billets, copper,
cad, and tin, have advanced. The agree
nent by the Bessemer ore producers will
result in an ADVANCE on the
coming seasons output.
Cereal exports tend to increase. Ex-
)orts of wheat (fiOur included) for the
week aggregate 3932.7A bushels. as
against 3, 419, 0Oc bushels last week, 100000 |
bushels last year. 3.149.0O0 bushels In 1896.
md /. sos 600 bushels I'm 1895. The bulk OF
his increase over last week is charge
lble to large -four exports. Indian corn
Exports for the week are also larger. re-
Letting the turning of attention toward
he loWer-prced cereals, in a total
10 556.000 bushels, as COM
jared with 4,50S0 900 bushels last week,
AL 600 bushels in this week year ago,
925 coo bushels in 1896, and 592, 600 bushels