Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-06-03
CHEERFUL ADVICES.
TRADE RETURNS ron MAY SHOW
LARGE RETAIL BUSINESS.
MEHSE CURRENT ACTIVITY.
Great Consumptive Demand-These
shown I'm Continued Good Increase"
I'm Gross Railroad NEUTRALITY-SUSPICIOUS.
ern Reports.
ern Reports.


I'm Gross Railroad EarninEs-so"'"
ern Reports.
NEW YORK. June 2-Bradstrects 10
morrow will say: Holiday observance
and warmer weather have worked 10
ward a smaller aggregate OF specuiauV
| transactions. and less pronounced &C
| tivity in some lines of wholesale trade I'M
week while naturally stimulating reta'
| business at most centres. point whic' i
| full of interest to wholesalers in view o
possible reasserting demand ana new
business for fall account. Current Dah'
ciearinps reflect the former influences
| l., considerably reduced totals for the
week, while cheerful advices az 10 'h'
| trade I'm May as whole are conllrmeo
by very large bank returns for the mont"
second only in fact TO the monthly toiaiS
NJ January and March. the latter hold-
ing the record in this respect the faVor'
able effect OF the immense current lnouS'
trial activity and cOnsumptive demand
offsetting the smaller tonnage or ceredis
now as compared with a year ago. Is
found I'm the continued good increases III
gross railroad earnings. Net returns are
il is true. not quite so relatively iaVor-
able. but IL is TO be recalled that COM
parisons now are with specially good re-
ports year ago
IRON AND STEEL.
In industrial lines the demand for ana
strength OF iron and steel are the most
interesting features. Heavy sales of the
cruder forms are reported this week Tor
fall delivery. and prices are higher all
around. from 10 cents 10 81 per ton on pig
iron. and nearly all classes OF steel, rails'
and finished products generally
Further progress in the consolidation
movement is reportable in this industry,
a number of tube-mills having pooled
their interests. Fears that recent heaVy
price advances will disastrously affect
orr export trade in manufactured iron
and steel still lack CONTINUATION, fea-
ture. I'm fact. being the placing of good
sized order for pig-irOn at full rates lot
export to Germany. Reports that prices
have checked domestic industry seem 10
be rather on a question Of delivery than
on one of enhanced value.
THE CEREALS AND COTTON.
Rather more speculative interest has
been observable i'm cereals, particularly
wheat. this week. A sharp advance oc-
CURED early on reiterated reports or IN
sect damage to the winter-wheat crop,
and less favorable advices from Russia
and other countries but reaction oc-
CURED later on. thus pointing to The
speculative position having temporarily
been oVerbought. Heavier shipments from
Northwestern points are taken to indi-
cate confidence in full yield OF spring
wheat
Cotton has been rather dull though
firm. the strength OF manufactured goods
acting as balance TO rather better crop
advices, though It is to be noted that too
much rain is complained of in some sec
tions, and too little moisture is reported
in others Advices from any cities Of
great activity in building find confirma-
ton in the continued heavy demand for
lumber, building hardware, and other ma
terials Prices of the former staple are
firmly held, end the only indicated
changes are in an upward direction.
SHOES. WOOL. SUGAR.
Advces from the shoe trade are favor
able. and leather and hides are firm.
The wool trade is in an interesting posi-
ton just at present, because manufac-
turers are still backward in placing Dr.
ders. and the recent speculative buying
has not reduced domestic stocks mate
rally. The reverse is true. however, of
stock of foreign wool, which have been
depleted by recent re-exports of Austria
liam sorts.
Refined suger is in especially good de-
mand. and the advance of the fruit sea-
son foreshadows a large business in the
near future.
Business failures are down TO a low
summer minimum, numbering only 129.
against 1853 last week, 17S this week a
year ago, 1872 in 1897. and 236 in 1896 and
1895.
LUMBER.
At eastern markets, lumber Is very
generally active at wholesale. but
scarcity Of material. and i'll some cases.
the higher prices demanded, are reported
to have checked operations at Phiadel-
phia. Wool is steady at Boston. holding
advances made earlier, and cotton goods
are quiet. but strong The same Is true
at New York where confidence and salts
faction are features noted i'm many
Inns of business. Business In lumber at
Pittsburg passes all records. and all the
iron and steel mills are on double time.
Features at the West are the strength
of iron at Chicago, where 100000 tons of
pig have been sold in two weeks. and
lumber prices are at the 1892 level ST.
Louis reports satisfactory volume Of
jobbing trade in May, cattle active at
good prices, and satisfactory summer
business in dry goods fOreshadowed.
Metals are strong and active at Cleve-
land, while Kansas City reports generally
good trade and collections, but with agri-
cultural implements rather slow of sale
SOUTHERN ADVICES.
Southern trade advices are fairly good.
Atlanta reports an increased business in
May over year ago, except in fertilizers,
in which the sales Of the season
are 20 per cent. smaller than last year
and estimates of the Georgia cotton
acreage point TO a reduction of at least
10 per cent Little Rock reports rains
hurting crops and NONRESIDENT fire insu-
rance companies are again writing bust
ness in Arkansas. Rain is reported need
ed in New Orleans. where reports are
for a rather bad stand for cotton. The
sugar crop this year is estimated at 49,
600 tons. At Birmingham. iron has
been drawn down 10 the lowest point on
record A satisfactory report comes from
the Northwest, where the business and
crop outlooks continue favorable. on
the Pacific coast an average wheat crop
is indicated in California, but in oregon