The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-05-27
ROANOKE, VA, MAY 81, 1893.
THE BUSINESS OUTLOOK.

In two ways there has been quite
general in pruvement during the past
week. Better weather throughout most
of the country has stimulated retail
trade. The large distribution OF goods
has made the jobbng trade more active.
The monetary auxiliries have curiously
abated at many widely separated points.
The large loans solicited here week
or two ago to provide for extreme emer-
gencies in the different cities have
not been wanted, and threatening fail
ures at several points have passed
without causing much disturbance, yet
the actual conditions do not seem to
have changed materially. Gold is still
going out, and So, 600, 600 more are to be
shipped to-day. The Treasury's reserve
is again reduced below the hundred
million limit.
The large demand for rediscounts and
advances by Western and Southern
banks, though considerably abated, has
been greater than the Eastern banks
could wholly meet. There is no definite
improvement in financial affairs abroad,
and the prospect of continued outgo
OF gold for sometime to come has not
been altered.
The speculative markets show com
paratively little activity.
Imports are still large, for three
weeks in May exceeding last years by
nearly $4,000, 600, but exports have
show slight gains. Money on call is
cheap and abundant, but loans on time
for comm ercial needs are yet made
with some difficulty and sparingly. The
failures for the last week reported by
Dun 81 Co. number for the United
States, $50; Canada, IL; total, 273;
against POI last week
Freight Rates Raised on Southern Iron.
From the Baltimore Sun.
The Baltimore and Ohio and the
pennsylvania Railroad Companies have
entered into an agreement to advance
freight rates on Southern pig iron IS
cents ton to Eastern points. The
order making this advance will go into
effect June !. After that date all this
class of freights shipped TO points east
OF Hagerstown, Shenandoah Junction
and Alexandria will be made to paw the
advance. The reason given for the ad.
vance is that it is an effort TO eoualize
the cost OF production Of pig iron in the
North and South. In consequence of
the cheapness of coal and labor con.
tinguous to Southern furnaces, il is
said they are enabled to turn out the pig
at rate that cannot be compared with
by the iron furnaces in Pennsylvania
and else where along the lines
OF the Baltimore and Ohio
and Pennsylvania railroads. There.
lore many of these Northern furnaces
have been compelled to shut down and
seek the relief that is being granted by
the leading Eastern freight carrying
roads from Southern points. It is said
the Southern roads will connect with
the Baltimore and Ohio and Pennsyl.
wanna will probably make an advance
IN sreights on pig iron, thus bringing up
the increased rate from the points NJ
shipment to the destination from 90 TO
70 cents ton. The advance. il il said
Goes not effect the furnaces of Alabama
as much as those in Virginia and West
Virginia. The Alabama furnaces find
their outlet over the Louisviiie
and Nashville system and their market
IN Cincinnati and points in the Ohio
and Mississippi valleys. Eastern fur.
naces ON the lines OF the Chesapeake
and Ohio and Norfolk and Western
roads are not affected by the advance.
Remembered by His Friends
Charley Thomas desk in the treas.