The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1886-02-09
THE CONDITION OF TRADE.
TWENTY MILLIONS OF DOLLARS
FOR RAILROADS.
The General Market Conditions Fa-
yOrable to Steady Prices Through
out the Year.
Isrrn1.Lr 10 ZEE lrPEAL.I

IhlIADhLfhAht ~ NbAheif ~
The latest estimate as u the probable
railway construction for 1856, puts the
mileage a. 10000 miles. This is nearly
three times the amount that was con-
structed last year. Last week the
Bessemer Steel Company, controlling
the fifteen rail-mills OF the United
States, met and refused 10 increase the
production beyond 100000 tons
voted upon some time ago, but expect
to meet in Thirty days and agree 10 in
crease the production 100000 tons.
The financial agents OF between
twenty and thirty projected roads are
at present negotiating in this city,
New York and Boston for some twenty
odd million dollars necessary TO con-
struot and equip the proposed roads.
Quotations on iron, steel, nails and
hardware, hold their own firmly.
Agricultural implement and tool works
are increasing their work slowly. The
Baldwin Locomotive Works start up
to-day full time, and with tWo-thirds
their full working force. The manu-
iacturers OF railway appliances expect
TO have business enough in hand by
the middle of March TO carry them
into midsummer. Prices OF all kinds
OF iron and ttsel are firm, and Al in
crea,ing demand for all the products
OF iron and steel is probable.
The employers Of labor throughout
nearly all sections Of country are be-
ginning TO consider the proposed re-
duction in the hours Of labor from ten
TO eight. Reduced pay will be &C.
oepted. Strong arguments are used
by the labor unions to induce en-
ployers to conform TO the new pro-
gramme, but IL will be vigorously re-
sisted, especially throughout the New !
England and Middle States. The EN-.
ployers do not believe that the move
ment will be sufficiently strong and |
widespread TO merit their serious a.
tention.
The manufacturers oil cotton 6 o DDS,
and Ct dress goods containing a slight |
a1mixture Of wool, are meeting with
an extraordinary demand, aud are do
ing heavier business at this time
than they have done for years. The
increased cost Of woolens and worsteds |
is having the effect, II would seem, of
driving the buyers to the finer grades
oil cotton goods, and to those OF part
cotton and pant wool.
The hosiery manufacturers are very
busy on spring and summer goods, aud
are accepting orders at very little in
crease over last years prices. A great
deal OF knitting machinery has been
put in within sixty days, and the
manufacturers Of machinery are work
ing full, and in Nv ne cases, time over,
to fill orders.
The anthracits coal combination
is yet at sea, although it is somewhat
nearer settlement than it was. The
Pennsylvania Company will work in
dependently, and increase the pro-
duction Of hard and soft coal, half q
million tons over last year. The COM
bination will no doubt be renewed.
but the increasing competition of
bitiminous coal from the Beech Creek,
Po0ohonsas and other bituminous fields
will enable manufacturers to purchase
supplies on more reasonable terms than
ever before in the history of the coal
trade.
The New England boot mauuiaCtur-
ers will maintain their advance OF 81 |
to IS on boote, per case. The numerous
strikes have started manufacturing in
new directions. All the rubber man
facturers are busy ON late orders. The
English market is taking Il good deal
more finished leather. Spring orders
for boots and shoes are pretty we'll in.
Exports OF sides from New York have
been very heavy.
Wool sales for the past week foot up
1,050,000 pounds and prices are point
ing upward. Those who still have
wool in hand are wisely holding it for
higher prices. Manufactures who
have not secured sufficient stocks are
trying to buy quietly without fright
ening sellers into asking higher prices.
There are prospects OF further de-
cline in sugars and cofiees, although
there are strong combinations OF CAPT
tai in New York, contemplating cor
nering process upon these products, if
they think the conditions Of trade will
allow it. Low prices have interiered
with the cultivation OF beet sugar in
Germany and France, but an increased
stimulus has been given 70 the cultiva.
ton OF sugar cane in Louisiana, aud to
the cultivation OF sorghum in the
Western States, by improvements in
processes for extracting the Juice.
Latest advioes iiom South America
show abundant stocks of coffee, and a
tendency in prices.
The general market conditions are
favorable TO steady prices throughout
the year, but there is a tendency
among manufacturers and traders Of
all kinds TO combine, in order to pre-
vent a5 much competition this year as
was suffered from in 1885.