Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-06-18
STATUS OF TRADE.
ALL FEATURES OF THE PRESENT
SITUATION ENCOURAGING.
COLLAPSE OF TIE LETTER DEAL.
The Decentralization I'm Prices, which
wa. n Concomitant, Followed by
N Quieter Feeling In Cereal Mar
kets-Export Demand Improved
Was n Concom.

NEW YORK, June f.-Bradstreets to-
morrow will say: Unprecedented foreign
trade totals, involving heavily increasing
shipments of breadstuffs, provisions, raw
cotton. and manufactured products; nat
tering crop prospects, pointing TO very
large yields of wheat and most otner
cereals. as we'll as cotton; profitable rail-
way operations, as reflected in relatively
heavier gains in net than in gross re-
ceipts. activity in nearly all lines of man
ufacturing, except some textile branches;
prices for most staples showing neavy
advances over the preceding year; bank
clearings exceeding all previous records
at this date; a volume Of new demand
limited in the East and South by mid
summer dizziness. but in the West and
Northwest comparing favorably with
records of previous years, and low rate
of business mortality, are all features
of the general business situation at the
present time. The collapse of Letter and
his deal in wheat, with the Generalization
in prices which was a concomitant, has
been followed by a quieter feeling in
cereal markets, and the export demand,
partly on early-placed orders. has i'm
proved. and more is doing by flour mill
ers. 1t is true that the continued wet
weather in sections west of the Missis-
sippi is affecting wheat harvesting. but
trade opinion leans TO a crop Of 100000
bushels of wheat and large yields Of
most other cereals, with corn promising
least favorably. Cotton acreage and con
dition alike foreshadow a yield which
may be slightly smaller than last year,
but this might easily be compensated for
by an advance in values which are high
err on the week.
A rather quiet tone is shown in the
iron situation this week. relatively most
activity being exhibited at the West.
Cotton goods, If anything. are slightly
improved, but raw wool is still under
restricted demand, because manufacturers
find new business slow.
PRICES STEADY.
The price situation for the week re-
fleets steadiness. the only important de-
creases being in southern pig-iron. wheat,
and -four while hides are higher at the
West, a number of metals have been adj
vanced, and oats, corn. lard. and cotton
note fractional advances.
The West and Northwest continue the
scene or relatively iHOSl dCNiNiNSf hiNS
in demand and the movement Of mer-
chandise. The excellent crop prospects
in the Northwest are reflected in a sat
isfactory trade in seasonable goods, and
a relatively larger volume Of orders for
fall trade, with the aggregate sales at
most cities heavily in excess of those OF
the corresponding week In recent years
Wheat exports for the week aggregate
4. $50 7S7 bushels, against 4,73O,9S2 bushels
last week, 2,547, $40 bushels this week
year ago. 3O2031T bushels in 1895, 2,S7,SN
bushels in 1895, and $4,000 bushels In
1894
Corn exports are also slightly smaller
than last week, amounting to 4lOt,UJ
bushels. as compared with 4,774.SO3 BUSH
els in the preceding week, 1,2i,3l3 bush
els in this week year ago, 1,5lOOcC BUSH
els in 1896, and $500 bushels In 1880.
Business mortality is at low point, the
failures for the week numbering only 2V7
IA smaller than a week ago, - fewer
than in the corresponding week OF 1897,
IS smaller than in this week in 1896, "a
smaller than in 1895, and only IL larger
than in this week Of 1891. when restric-
ton of credits and dull business were
most marked.
Failures in the Dominion of Canada
number 49, a decrease OF 7 from last
week. of 10 from the total In this week
a year ago, of 16 from 1890, and OF II from
1895