Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-07-01
BUSINESS SITUATION.
THOUGH sEAsoSABLY auIErER, IT'S
STRENGTH Is UNABATED.
RECEE' asqUREs SATISFACTORY.
Cheerful Confidence Regarding the
Half-Year Now Beginning-specinl
encouragement I'm Iron, Lumber,
Wool, and wooIIen Goods.

morrow will say: Though seasonably
quieter in many lines, the strength of
the general business situation remains
apparently undated, and the half-year
closes with the commercial and financial
community contemplating very satisfac-
tory returns in the recent past, and man.
ifesting tone of cheerful confidence re-
garding the outlook for the last half of
1892 In the volume of business done the
first half of 1899 will certainly rank high
er than the best hitherto experienced.
and the notable rise In prices which was
such a feature of the past spring has
done much to reconcile traders TO the
admittedly small margin of profit which
modern business operations tend toward
making permanent Touching this mat
ter, 1t might be added that staple prices
to-day are, in a majority Of Instances.
we'll above the quotations ruling for some
years past, the general level in fact be-
ing the highest since early in 1898.
PRICES WELL UP.
In some instances of course, rotably
in iron and steel. recent advances have
brought the level OF prices we'll above
anything reported since 1892, though it is
to be remarked that much OF the bust
ness done in that industry this spring
was at old levels, and most sanguine OBJ
servers in this line having failed TO ac-
curateiy gauge the real proportions of
the late advances.
That the transportation interests have
shared to a large degree in the business
resulting from several years OF large
crops and active demand Is proved by
the current good returns, the best prob
ably reported so far this year, ard iDdi-
eating a progressive gain over all pre-
vious records for the six months, not
withstanding the steadily lowering rates
OF transportation. There is little In the
immediate outlook that can be construed
as unfavorable.
IRON AND STEEL
The iron trade, having finished the most
eveDtful halfyear in its history, and most
OF its contracts having been secured at
the old low prices, faces very good out
| look for the balance OF the year. at
prices which guarantee large profits, pro-
vided edquate supplies of raw and partly
manufactured materials can be secured
| 1t is not unreasonable to look for some
| check, however, to business in the metal
| consuming industries, owing TO the search
| ty of these materials. One of the
| latest instances of this cited Is the serious
| delay reported in the ship-buildng in
| dustry owing to the scarcity OF steel
! plates. The labor situation has been one
| of the most satisfactory features OF the
| half-years business, voluntary advances
| having raised the compensation Of thou
| sands of operatives, and labor troubles
| being conspicuous by their absence till
toward the close of the period under re-
Cot
and hours in the Colorado smelling in
dustry and tin-plate manufacturing, rem
| dered large number Of workmen idle.
| In the case of the latter industry, how
ever, the suspension, it is hoped will not
exceed the usual summer shutdown.
AGRICULTURAL LINES.
In agricultural lines the outlook, though
somewhat irregular. is, In the maip. IA
| vorable. The smaller yield of winter
| wheat seems at the present moment likely
TO be partly made up for by an increased
yield of corn, and spring wheat prospects
| though impaired somewhat by too mucf
| rain, are regarded as encouraging Coco
weather throughout the country has al
lowed rather better out-turn in wintel
wheat than was looked for earlier, and
general rains throughout the South hav,
helped the cotton crop, while rice and
sugar have also measurably improved.
STRENGTH AND ACTIVITY.
The closing week of the half-year find:
| special strength and activity in iron
lumber, and wool and woollen goods, the
last-named industry having at last ap
parenty begun to share In the prevailing
prosperity. A feature OF interest In this
connection is the advancing price OF fin
woods abroad, which seems 10 insure
temporarily at least a foreign market
for considerable high-grade domestic
wool. Manufactured fabrics share IN
this strength, but manufacturers fre no
credited with having large stocks tf raw
material. Confidence in good fall trad,
is evidenced by reports coming from
many markets of good orders already
hooked. the volume Of such business al
ready done varying from 10 to 20 pei
cent. in excess OF last year, which. q
NAV be recalled, was quite a satiSfactor,
one in this respect.
GRAIN EXPORTS.
Wheat. including -four shipments fol
the week aggregates 1868. g9s bushels
| against 3746,TS bushels last week, 47l6.p
bushels in the corresponding week OF 1895
ms. s4S bushels in 1897, 2.6Ol. 096 bushels II
1895 and 2OO7,OOl bushels in 1895. Since
| January 1st, this season. the exports o.
wheat aggregate 221,OSS,sIo bushels
against 23S, 7sS 7OS bushels last year.
Corn exports for the week aggregate
44s2.ll6 bushels against 2,Sl2 432 aushei
last week, 2,6Ol $50 bushels this week
year ago l.s23. 9Ss bushels IN 1897. l593, GO
bushels in 1895, and 3ss $50 bushels in 1896
since January LIST. this season, corn ex
norts aggregate l7O,7SO.27i bushels. agains
ie7 s07. 9o7 bushels during the same perio'
! 4 year ago.