Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-08-20
AIR OF CONFIDENCE.
BRADsTREET SAYS 1T PERyADEs
OUR BUSINESS CIRCLES.
The FALL TRADE PROMISING.
Immense business in Iron and steel
Products, Yet Pig-Iron Statistics
Point TO a Reduced Output for the
Current Month.

NEW YORK. August l9-Bradstreets
tomorrow will says:
Perhaps the most interesting feature OF
the general business situation at pres
ent is the air OF confidence with which
the mercantile community awaits the
approach Of the fall trade period. While.
based in some degree upon favorable re-
suits already achieved in many lines. 1t
is unquestionably true that the hattering
crop outlook al home and the return OF
peace. with the expectation Of benefits
10 our export trade, naturally expected
to accrue therefrom, make for much Of
the feeling thus expressed.
A LONG SENTENCE.
Reflection Of the growth of fall trade
IS found in the steady expansion now
going on in bank clearings, the improv-
ing demand at higher prices for most
makes of iron and steel the generally
favorable railway earnings, which On
default Of large movement OF crops to
market point 70 a large return trade
In manufactured goods to the agricul-
tural sections, and the reports of con-
tinued activity in distributive trade West
and South, with signs of a moderate in
crease in interest at leading eastern mar
kets, which hitherto have not shared
largely in the trade Improvement
IRON AND STEEL.
The immense business doing in iron
and steel products at advanced prices.
calls attention to the proportlonately
less notable expansion OF crude-iron pro-
duction. Pig-iron statistics, in fact
point 10 an even smaller output for the
current month. some of which curtail-
ment, OF course. is naturally based upon
midsummer conditions. Advances In
many grades of iron, notably Bessemer
and southern pig. are features OF the
week
The situation In cereals shows but little
change. The balance established be-
tween phenomenally reduced stocks ana
active milling demand at home and fair
export enquiry on the one hand and very
promising crop outlook on the other, lends
TO steadiness in prices. and other products
sympathize with wheat. The large sup
plies of raw cotton al home and abroad
and a prediction of yield this year near
ly equal 10, II not exceeding, that grown
year ago, while naturally stimulating
the business at the South, has a depress-
ing effect upon the price Of the raw sta
pie. and quotations are fraction lower
LOT the week ana AC. Il pouilN loNCi imam
a year ago at this time.
REPORTS ARE VERY GOOD.
Reports as to collections the country
over are very encouraging. From winter
wheat sections especially reports are very
good Some slowness is noted in pay
| ments at the Northwest. but this Is ex-
pected to disappear when the SPRING
wheat crop moves.
Business failures are larger in number
than last week, aggregating ls5. against
| III last week, but compared with ~ IN
this week year ago, 264 in 1896. 1872 in 1882
and PSI in 1894.
HEAVY BUSINESS EXPECTED.
Buyers are appearing in increasing num-
| bers at leading western markets. Bad
| roads still restrict business at New Or
| leans. but a large fall business is expect
| ed. At Memphis the outlook is for the
| heaviest business in the history OF the
city, but damage by cotton-worms IN
| Texas affects trade at Galveston. In the
| South Atlantic cities reports are OF per-
| ceptible Improvement in trade. On the
/ Pacific coast. while business is qulet Il
| California. large crops in oregon and
| Washington are expected to make fall
/ trade lively At the East. more is doing
| at Baltimore. Southern buyers are IN
/ creasing in number and stocks are re-
| ported heavily reduced.
| MODERATE IMPROVEMENT IN THE
! NORTH.
and steel being especially so. AT Boston
and New York moderate improvement Is
noted The depressed condition of the
raw staple tends 10 discourage future
| business in cotton goods. but print-cloth'
are firm and there is less talk of cur
| failing production al Fall River. In WOO
| and woollen goods business is only mode
rqte. and manufacturers buy for presen
! requirements. Wheat and corn shipments
are smaller than those of last week. bu
are still ahead of last season. Whea
shipments for the week, including flour
aggregate 3795.93S bushels, as agains
SOS sos corrected last week. and com
pared with 53l6.S03 in this week last year
99l. 693 i'm the corresponding week of 1896
1859 40 in 1895, and 3.1S210 bushels in 1894
EXPORTS OF WHEAT.
Since July LIST, this year the exports o
wheat aggregate 81 ,666 bushels. agains
q. ,3i6 bushels last year.
Corn exports for the week aggregat
21q6O2l bushels against 9517 952 bushel
last week. 500 .025 bushels in 1897, 2,769 GO
In 1896. l 1876. 23S bushels in 1895. and l05,0O
bushels in 1894. Since July LIST, this year
| the exports of corn aggregate 2O,22S 36
bushels. against l96S.S23 bushels durln
the same period last year.
BUSINESS failures in the Dominion o
| Canada this week number 26. against
! last week Il in this week year ago,
| to