The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-07-30
RISE. r, in STERLING EX c CHANGE.
Advance Has Been Of Unusual.
Prop rtiot1s for This Sea-
son of tic ear. u

son; 81 Tie y ear.
Especial to The Times Dispa tct.)
" NEW YORK, July 90 The advices re-!
ccivcd this week from special agents OF
the international Mercantile Agency IT
the leading trade centers of the country
are, In tho main sat tory. Z he spirit
Ifof optimism is growing, and conf ence
in a good fall and winter business 4 4 In
creases from week to week. Crrrentt Sa 1E-
l3tivity in the different Industrial lines Is
mot very great nor can 1t be expected to-
be at this season Of the year. It Is, how y
ever. better THANH was year q go mt
| this time witt, the very VIII esome III.
lsflucnce Sof a faith Inc better things. q n
element In the situation tina Was wholly
lacking In the summer OF 1903 a de- es-.
lEcided reaction has occurred IN the move
ment5 of stocks, but this is not due TO any
material change IN business pro 81 GU
The Ia Dor z roubles. Nc
M The lost prominent change THAT has
come over the stuationsis that pro duced
| by the recurrence OF the packers 9 trtke g.
The new breach between tho employers
and their men was entirely unex pected1
Disorders Of different kinds have q tended
1.-THE strike at Chica go and sho Wn a. more
gyirulent form Of attack than in the first
case. IT Is significant that support IS
lacking to the movement at many, promi-
l3nent points. especially III the LAS This
absence OF harm ony among he men ana ana
| a possibility OF a rupture betWe the
Ina cking house Interests would ind cate n
speedy settlement OF the lfficult Tho
consumer does not a PIP TO be su ffer-
ling from the high pric Of mea Is, FOR TINS
season OF the yea when ne 4 can ar ca SLY
accommodate hilnself5t to the strained con-5
lfditions. 4. X,
M Another labor outbrea k-t hat q t Fall
Riyer-has done more TO alarm business;
Interests this week than any one ca use:
There lis no Indication OF concessio ions on
either sside In this a flair, which has
brought about almost comp ete para l lysls
lSof the textile trade IN New Enc
price Of print clio tbs has Pc advances
l-s cent? although there has been g g Ri &
cline In the near by months for raw cot
ton Of from ia to 1-2 cent he re sui TOT
the 4 Fall River strike has been to z en-
coura 60 cuisines at Philad elphia i Vvh ,s
|Sthe textile industry has been n a. state
OF stagnatlon for some tltpe. This 9 6 6
course, does not In anyWise compensate
forathe setback ut the principal cen cen
of#cottonH mill activity p to 5this
this year tho country Inns been Won ef-s
fully free % e labor disturbances q recoro7
which tho idleness of Co. 900 men IN the
tv,o IRA n ches OF trade Just now disor-e
gunized materially disturbs,
Crop c Conditions.
There has been good growing weather
for tlle 4 crops, Il which are Q pproa cnlng
harvest under continued improved con-
ditlons, n III the spring wheat sect tons OF
the Northwest some rust has been dis Lls
covered. which will reduce the " ID
Harvesting sin progress in y Yearly al OF
the leading winter ;whea 81 tat es, nd the
results are better than farmers thought
they would be two Nv eks q go It's Pc 2,
ginning to DO believed. thou 81. ina NO y,
totnlsylcld will leave "a small exporttalpies
surplus. and that the price otWheas ...;,i
flour during the next twelve months vii VIII
be- high. The speculative months are now
at tho top prices for this movement nav LAY =
ling been helped Ny a War scare, Wll!chs
produced an opposite effect on stocks.8
THE returns on wheat In the sout invest
have stimulated buslncs In that part OF
the country. whore merchants report the
number and value of their orders @ ., pc
4 head OF those OF 1903 b Coll lions int the
ST. Louis district have far exceeded those
Sof last year. llral orders being received
n re beyond expect ations, Boots and shoes
have been Iii especially good demand,
though clothing Is slow. las reports
bright trade prospects. based on the
fnvorlng conditions for the growing crops,
Summer Rise in Foreign Ex-83
change.
one notable incident in financial III
fairs this week has been the sharp rise
In sterling exchange. The advance mas s
been OF Unusual proport lons Tor ms s sew
son Of tho year, and flows closely attels
Indications OF early imports q god.
Now Mall Street rs looking instead lt'r
exports OF metal. An artificial sl1uatlola
shas probnbly been produced by heavy
speculative sales Of exchange by bankers
Who had Figured on tnn early flow 81
commercial hills into fthe market ,IlleSs
sl,,,ye had To cover their ~ les q IN con-
s.derabls loss The adyaMe IN London
discount rates has made the ENGLISH
market d profitable one for loans OF me ~
large supply of idle money here, " y
rot 4 Improbable that gold will flow TO-
london within a weeks time. The le7i
posts az tie associated banks of n eW
York are above $l,2OO.Oc0, 900, and tho
s1ecio holdings greater than they have
over, been Under these clrellmstn noes
an export Of. say slo,Go,0W 20 ZIP wy,
COO gold, would not fleet money ia es
materially, even though " were 70 d "a
made at about HE time that tlles l1tst
demand for crop moving currency apri
pears In the West and Southwest s} &
Money and Commercial; Paper.
trhe influence of possible gold exports
on money rates has been NIL. s Ninety
day money As quoted at 3 per cert, while
good collateral VIII procure SIN Inlo nthsa