Roanoke daily times. (Roanoke, Va) 1886-1890, 1890-03-16
FINANCE AND TRADE
Winter Weather Game Too Late
to Afford Much Relief.
THE FREsHBTs IN TIE VEST

Interfere with Distribution aud Threat en-
Disaster-The Volume of Trade Con-
tinues Large with Prices Low aud
Narrow Margin for Proti,s-Aiabatu
Undertaking Pennsylvania Iron.
NEW YORK, March 15.-R. G.. Dun &
Co.'S weekly review of trade says:
There was not enough of the belated
and fragmentary winter to make good
losses sustained by restricted demand
for seasonable goods, or to prevent one
considerable failure caused by arrested
Distribution and collections, but the
colder weather helped little in many
branches of trade while it lasted. Now
great floods in the Mississippi valley in
terlere with distribution and threaten
serious disaster. On the other hand,
the money market has been relieved by
treasury disbursements, by another re-
duction IN rate by the Bank of England
and by a fall of three-quarters of cent
in the rate of sterling exchange.
The volume OF business continues eX-
traordinarily large at New York, clear
| ings exceeding last year by j per cent.
at Boston BY per cent. ut Philadelphia
by Ii per cent, at Chicago 10y - per
cent, and at all other points by 10 per
cent. The increase i'll railroad earn
ings for February was about l2l per
cent. 1t is difficult at times TO recon
Gle these proofs of large business with
expressions OF disappointment SO often
| heard unless it is remembered that
| prices are low and the margin Tor
| profits very narrow.
Tho Iron Industry.
The weekly output of iron furnaces i'll
blast March | was lS0.99l tons, against
| III. OBS Jan. and l49, ii5 Il year ago.
| With Il production exceeding that OF 4
wear ago more than 20 per cent. and
| already at the rate .. 900, 900 tons yearly.
the tone of the market has been weaker
and prices have again declined. y re-
duction of $3.50 in the price of Dir
mingham iron so that it is now offered
in eastern markets 30 cents below SIM
| liar iron from Pennsylvania compels
| sellers to make concessions and causes 4
nervous and disappointed feeling.
| Whether the break of ) cents in day
and 10 cents in a week IN the price oil
| Tennessee Coal and Iron stock has any
| connection with this reduction IN price
cannot be stated. Rails are quoted half
dollar lower and one lot Is said to be
for sale at S34. The demand for bar
iron is better. but on the whole there Is
as vet lack of evidence that the coun
try can consume at the rate 1t Is now
producing pig iron and lower prices are
apprehended.
| Cotton and Wool.
There is no set back rs yet in the cot
ton manufacture. Goods are IN steady
and fair demand. but prices obtalnable
return scanty profits with material at
present cost No change appears i'll the
wool and woolens trades. though 4
treasury decision raising the duty on
ring waste checks another form OF I'M
| portation. In boots and shoes buyers
are numerous and leather is steady with
| fair demand, but hides are quiet. More
sales are noted of rubber goods and the
demand for building materials OF all
sorts continues large with prices tend
ing upward.
Reports from other cities indicate
some improvements in the volume OF
trade. where changes is noticed. At all
points reporting any change in col,
| lections they are more satisfactory. anu
the western money markets are all
fairly supplied.
The Money Market.
No changes of consequence in rates
|. 81.