Daily tobacco leaf-chronicle. (Clarksville, Tenn.) 1890-1895, 1890-03-17
Trade REVIEW.
Volume of Business Extraordinarily
Large in New York.


Volume Of Business Extraordinarily
Large in New York.
NEW YORK, March I7.-R. @. Dun &
Company's weekly review of trade saws:
The money market has been relieved
by treasury disbursements, by another
reduction in rate by the Bank of En-
gland, and by a fall of three-duar-
ters of cent in the rate of sterling ex-
change.
Volume of Business Large.
The volume of business continues ex-
traordinary large at New York, clear
ings exceeding last year by per cent,
at Boston by 8 per cent, at Philadelphia
by 16 per cent, at Chicago by II per
cent. and at all other points by is per
cent. The increase in railroad earnings
for February was about 10 L. per cent.
Iron.
The weekly output of iron furnaces in
blast March / was 1S0, ,991 tons, against
ia, ,038 Jan. and l49,775 q year ago.
To many this further increase of over 4
per cent. for the month will seem sur
prising, but it was announced a month
ago that several large furnaces were
about to go into blast. With a produc-
ton exceeding that Of year ago more
than 20 .per cent, and already, at
the rate of 8, 400, 900 tons yearly, the tone
of the market has been weaker and
prices have again declined.
A reduction of $1.50 in the price of
Birmingham,iron, SO thatit is now offered
in eastern markets fifty cents below sim
liar iron from Pennsylvania compels
sellers to make concessions, and causes a
nervous and disappointed feeling,
Rails are quoted fiftv cents lower, and
one lot is said to be for sale at $34. The
demand for bar-iron is better, but on the
whole there is as yet lack of evidence
that the country can consume at the
rate it is now producing pig-iron and
lower prices are apprehended.
There is no setback as yet in the cot
ton manufacture, although raw cotton
has advanced one-sixteenth cents, ex-
ports being almost up to last years for
The week, and for six months ending
with February 2,010,000,000 pounds
against l,722, 100000 pounds for the
same months OF the previous year.
More sales are noted of rubber goods,
and the demand for building materials
of all sorts continues large, with prices
tending upward.
1epOTS kLEOHl O&u6T ClCl6S lnulCaU6
some improvement in the volume of
trade, where change is noticed. AT
Chicago receipts OF grain equal, and of
meats and provisions largely excel last
years, while wool and hides fall short,
pears of late. Dry goods sales are be-
age and the clothing trade fair At ST.
I 1po1 do iI1ta hac
improved by the weather, but southern
distribution is impeded by the floods
below.
AT Milwaukee and Cleveland trade
has improved somewhat; at Omaha it is
larger than last year, and at other west
ern points fair, though at Denver and
some other points unsettled freight rates
make some difficulty. At Pittsburg gen
eral business is good, but weakness is
felt in iron, and flint glass works are re-
stricting output because of dullness. At
all points reporting any change in collec
tions they are more satisfactory, and the
western money markets are all fairly
supplied, though the demand is strong
at Denver, while money is tight at Phila-
delphia but easier at Boston.
Money.
NO CIdllb6 VI consequence III raves Has
occurred in the New York money
market, though the treasury has paid
out 81 200, 900 more than it has taken in.
Exports of cotton, breadstuffs and oil for
February were in value $39,2l7.SC9,
against $33, 1896 last year, gain of
II per cent, largely due to doubled ex-
ports of wheat and -four. But for two
weeks of March the exports from New
York have fallen below last years
nearly 9 per cent, while imports in
crease.
Railroad stocks are about seventy-fivs
cents per share higher than week ago,
but the trust stocks are weaker, and
Tennessee coal and iron is ten and one
quarter cents lower The speculative
market for products has been little
stronger, excepting for oil, which has
dropped three cents; wheat and corn are
one-half cent higher, coffee one-quarter
cent higher, and pork products little
stronger but speculation is not rampant,
and is likely to be restrained for a month
by fear of tight money.
The business failures occurring
throughout the country during the
last seven days were 252 as compared
with total of 260 last week. For same
week last year the figures where 261.