The times. [volume] (Richmond, Va.) 1890-1903, 1899-10-07
BUSINESS GAINS
STILL CONTINUE
Even the Dewey Demonstration Could
Not Check the Rush
IN MANUFACTURING INTERESTS.
The Improvement is Marked - The
Iron Trade Seems on Firm Basis
for Next Ycar-Cotton aud
Wool are Looking Up.

NEW YORK. October 6.-R. C. Dun &
Company's Weekly Review Of Trade will
say tomorrow:
The grand demonstration in honor of
Admiral Dewey effectually stopped bust
ness Of most kinds for two weeks at the
chief city of the country. and yet the
remaining transactions for the week
would have excited wonder a year ago.
At New York, where the interruption was
greatest payments through the clearing
houses exceeded Sl.O59, 900 900 in four bus
mess days, a record never before APP
preached, and outside of New York the
gain reflects a great expansion in the
volume Of that kind Of business which
does not depend on exchange.
1t has been a week Of remarkable mon
etary changes here and elsewhere. The
Bank of England raised il. rate one per
cent. before and one-half per cent. more
after its weekly statement. from IL to
8 per cent, with the hope that the outgo
10 New York might be checked. but the
Bank Of Germany lost also and raised
France lost heavily While high rates
were paid here for money in speculation.
no stringency embarrasses any branch OF
legitimate business. and the stock mar
ket has held up surprisingly.
THE STEEL TRADE.
with such business as the great steel
companies are doing. 1t is not strange
that their stocks are firmly held. There
have been heavy sales OF rails deliverable
next year. S83 being fixed as the price,
after consultation, and about 10000 tons
fairly divided between eastern and wes-
tern works were sold. For their protec-
ton the great companies bought billets
I'm large quantities for which. it Is said,
s35 was paid by some, and Of Bessemer
Dig nearly 10000 tons, the Federal Steel
Company taking 10000 and Pittsburg
Works taking advantage of old options.
Other large rail contracts are expected
soon. especially those Of the Pennsyivan-
ia Plate works seem to be gaining little
If any on their orders, and bar mills are
as crowded as ever, while the renewal
of efforts for consolidation Of sheet mills
causes more active buying. Thus Whle
Bessemer pig rose . cents ana Grey
Forge at Pittsburg declined 30 cents m
ished products were not changed, except
ing another rise of Is cents per keg IN
cut nails and there is reported some dis
position to hold back orders because OF
the general rise in prices.
The wool market is strong with safes
of 1926. 152 pounds at the three CHIEF mar
kets. prices being maintained although
the advance at London has been checked
The cotton mills. after the general ad-
vances in prices last week, nave had
a large business, being helped by the
rise in material II seems still uncertain
what form Of consolidation, II any, Will
be adopted by the Fall River concerns.
GRAIN EXPORTS.
After advancing about two cents, wheat
declined sharply, uncertainty in the
Transvaal being used by spectators as
excuse for the fluctuations. The CLOS
inc nrlce is unchanged win Atlantic ex-
ports Of S.5s2.O62 -four included. against
2y94 593 last year and Pacific exports OF
9q7 052 bushels against ZOE 404 last year.
When II is noted that corn exports were
also . q92 232 bushels for the week against
2.591. 002 last year, the price rising one cent
- seerns not strange that wheat continues
firm, and Western receipts have been Tor
the week only 6644.113 bushels against
~ $50 $50 last year. The merchandise eX-
norris from New York have been in -FOUR
weeks 81. 202. 622 in value against S5-''of'-
.oi last wear. which. with the increase IN
'manufactured exports and in cotton eN-
norts from other points insures an enor-
nous outgo for September, whlie the m
crease I'm imports at New York has been
obout $4,000 in value. apparently not
enough 10 reduce the excess OF exports
for the month below $30,000.ON.