Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-07-23

a RUSH TO BUILD UP BUSINESS IN
EAsTERN CUBA.
MANUFACTURES all SHOW GAINS
iron Apparently ON the Verge of
Another observation-disclosures Pig
Held at s1O.2S Mt Pittsburg-Corn
Exports surprising.

NEW YORK, July 22.-Messrs. r. G.
Trade tomorrow. will say:
The state OF war does not disturb busi-
ness, but reaction after a phenomenal
movement of grain causes relative loss,
which many mistake for decrease In the
volume OF trade. So much grain has
been required and shipped during the past
twelve months that decrease was inevi-
table. and the Granger and Pacific roads
show loss in earnings, even compared
with 1872, though not much yet. compared
with last year.
After the surrender at Santiago barely
a week of rest has preceded the sailing
OF the Porto Rico force, but meanwhile,
the Presidents proclamation opening San
| tiago to trade on terms singuarly favor
able to the inhabitants there, and the
rush to build up business in Eastern Cuba,
| are occupying the thoughts Of many en-
terprising firms. The reduction Of one
nan In the tax heretofore paid, with hon.
est instead OF Spanish, administration
brings home to Cuban residents the mean
ing or the change, and they also learn to
use money OF which a paper dollar Is as
GOOD as gold, which for them is a long
step forward
In the stagnant midsummer season, with
business larger than ever before, the
great manufactures nearly all share the
gain. Once before, in 1895, with an extra
ordinarily small movement prior to July
the shipments Of boots and shoes were
larger than this year, but in no other
year have shipments in three weeks OF
III hpQn q Ia roa rt,t- O1otA
at Fall River have in part combined to
curtail production, half the spindles of
that city being idle for a month, but in
other branches Of the cotton-goods trade
no such heroic measures appear neces-
sary.
IRON
There Is an increased demand for wool
len goods, although in some lines 1t is
slow and disappointing, but the number
Of establishments at work increases.
though the mills are not yet assured of
satisfactory prices.
The iron manufacture seems to be on
the verge of another revolution since
Bessemer pig Is held, by curtailment of
production in the Shenandoah and Ma
honfs>S valleys, at s10.25 at Pittsburg, and
yet some steel-works have made enor-
nous sales OF billets. The demand for
structural forms keeps all the works busy.
The plate-mills are everywhere crowded.
Sheets and bars are In better demand
than heretofore, and the prolonged weak
ness In cast pipe, which usually requires
nearly 100000 tons Of pig in year, may
presently be cured.
With the abatement Of foreign needs
and prospects Of excellent crops In many
foreign countries, wheat has declined du-
ring the week 8 cents in price, notwith-
standing exports from Atlantic ports,
amounting to ,092 bushels Qiour in
cluded, against 1,516,9T last year. and
from Pacific ports Of 577,755. against 1888
last year. Total exports for three weeks
have been 7,399,259 bushels Qiour included),
against 5,194,4SS last year.
Corn still goes abroad In astonishing
quantity. all the circumstances consider
ed. The exports have been, in three
weeks, 5,577,s47 bushels, against 6.635, 1876
last year. The price has not changed, in
spite Of the decline in wheat
COTTON.
The closing OF some New England mills
has doubtless affected the price of cotton
to some extent, and yet the crop reports
are sufficiently favorable to depress prices
an eighth during the week. without other
influence. The collapse OF strong pool
to advance prices and control the market
Is also reported.
The failures for the week have been 2O7
In the United States. against 227 last year, |
and IL In Canada, against Is last year.