The times. [volume] (Richmond, Va.) 1890-1903, 1900-06-09
TREND OF PRICES
IS DOWN. ARD.
The Only Exception is in Farm Pro-
ducts, Notably Cereals.
COTTON SLIGHTLY WEAKER.
This is Que TO tho Reports ola Heavily
Increased Acreage The New
Prices of Bcsserner Pig and
Stool Biiiets Agreed On.

NEW YORK, June s.-Braastreets To-
.,or-nw viii say: Now business at whoie-
sale is of a between seasons character,
t,,,t pra.,,,er Weather has offered stimu-
ms 10 retail business IN some sections
Chief activity and most attention Is, now
eyer st!Il concentrated on the rrice SIT
,lation. and prices 10 readjust quotations
IN meet current demand and supply condi-
tons 70 forward steady 1he only eAcep.
tio: TO the general downward srend OF
slrices is that furnished In leading farm
products. notably cereals, but here The
moving cause IS hardly a favorable one
sein. the result of less satisfactory crop
renoTts. particuiarly from the Northwest,
and i; Is to be noted that adrices from Inc
central west where the winter wheat
Weld promises to be very short, are also
less favorable.
The Northwest has had same rains. but
st is claimed. not enough to renaer the
situation free of danger. Corn crop con-
ditions remain favorable, as likewise do
those OF oats, but these grains and neg
products have syInpathized IN the upward
movement of wheat. which has al last
broken from its letharsy.
FOREIGN CROPS.
Foreign crop advices. it might be added
nre not fattering. The German rye cfoI,
rlronises 10 he very short, the same report
lIsh crou adyices are not of the best.
II. as has been claimed, the lower prices
for iron favor an increased consumption.
current Developments in this trade may De
ciassed as favorable. because concessions
are being steadily made in nearly every
branch OF trade. The price OF Besse!nsr
pig iron and steel billets for the last hall
of 1850 has been agreed upon, the result
being a droi, Of is per cent. in pig iron ana
of 20 per cent in ipiilets from The Old nom
.pal quotations, which, however, nave not
been closely adhered 10 of late southern
Iron advices are OF shading in quotations.
In sympathy with similar action taken al
pittsburg, Chicago and other iron markets.
Prices at Birmingham are now on
parity with those of Europe freight
charges considered. and here, as in the
north, the possibility of labor troubles in
iraldes itself
COTTON WEAKER.
Cotton is slightly weaker on reports OF
heavily increased acreage, but the crop Is
date and advices this week are of an
excess OF rain in the Mississippi Valley
and Texas. Cotton-geods are dull. Wool
IS dull. and, on the whole, Slightly weaker
at Eastern markets. Mems wear goods
recorders are of fair volume, while mills
engaged on women's wear goods are fairly
wall employed. The outlook fayors lower
prices for the new spring weights.
Little that is new comes from the Shoe
business Leather is dull and rather
weaker.
Price shadings are reported the rule in
lumber and this, coupled with low water
in The Northwest. will. it is hoped, re-
strict new production.
Surplus visible wheat supplies are de-
creasing rapidly, lending interest to cur
rent 7lnfayorable crop reports. The de-
crease in American stocks. as reported to
Bra6street's in May. was go, co., against
u falling off of 9.o3SnG0 bushels in April.
SUPPLIES OF WHEAT
Supplies in Europe. Australia and Ar
genia also decreased. though TO much
tess nlarked extent, and the result is an
aggregate worlds supply on June 1st, of
li3,5s3,O9n bushels, supply of 15,6ll,0o0
bushels less than on May list, and, COM
pared with the decrease in May a year
ago, of less than 100000 bushels, and two
years ago of an increase of nearly 2,t93-
0a3 bushels. The decrease in American and
European supplies is the largest reported
in any month since 1898. and is the largest
reported in May since 1875.
business failures for the week. iS4 as
compared with l55 last week, us in This
week a year ago, 221 in 1888, .2o6 in 1897,
and 234 in 1856.
There We're Sc failures in Canada IN
May, involving S9S1,22S of liabilities, an in
crease of Is per cent. in number, and of
70 per cent. in liabilities over the same
month year ago.