Evening journal., 1894-03-10
BUSINESS IMPROVES.
Confidence In the Future Is
Lacking, However.
GOOD NEWS FROM IRON DISTRICTS.

There Is a Larger Demand For the Furnace
output Than For Three Months Previous.
Wooden Manufacturers Are Increasing
Production Failures Are Fewer.
NEW YORK, March lO.-R G. Dun 4 Co.'S
Weekly Review Of Trade. out today. says.
Evidences Of present improvement in busi.
ness multiply, but confidence In future i'm.
provement does not seem to increase.
There is more business and larger pro
duction by industries. for the season has
arrived when greater activity is necessary
II dealers stocks are TO be replenished, and
those who cannot make calculations be
yOnd few months are the most anxious
TO crowd as much trade as they safely can
into those months.
In some branches Of distribution, how
ever, there are indications of q diminishing
demand for goods, and the evident prefer
ence for medium and low priced articles.
with the known reduction in wages and
family expenditures, lead many TO feel
somewhat less confident that business will
soon recover its former volume Under
takings reaching beyond a short time are
not made with greater freedom, and in
spite of a larger present demand prices OF
manufactured goods tend downward
Iron and Steel.
The most distinct gain is in iron and
steel manufacture. The output Of pig
iron on March ! was 40, 1866 tons, having
increased 10 per cent during the month,
though IL is still 37s per cent less than Il
year ago. It is also stated that some other
furnaces have gone into blast since March
and that unsold stocks have made prac-
tically no increase in February, so that the
actual consumption in all branches Of
the manufacture Is at least 10 per cent
greater than in NOvembeF, December or
January. Yet prices are lower, steel bill
let's being Si5.25 mt Pittsburg and plates
S.i5 at Philadelphia-the lowest ever
known.
Some moderate but no important con-
tracts nre reported here, and at Philndel-
phia business in finished products is not
as active as il was two or three weeks ago.
AZ Pitlsburg markets are weaker in spite
of fairly large orders for structural iron
and encouraging conditions in the produc-
tion Of wire, rods and nails
In textile manufactures and dry goods
there are increased activity and replenish-
ment of stocks as Is natural at this season.
But the demand thus far falls much short
of expectations, and its character indicates
great economy in consumption. reduc-
tion in Wamsutta sheetings and In Gar
ner's fancy prints to 4 u cents indicates the
judgment Of leading concerns that markets
require more stimulating than usual.
In woOlens also manufacturers are in
creasing production, mainly in tentative
way or ON orders which are little more than
sufficient To test the market. But the sales
/ f. Al {
have been 5,i50,8OO pounds. against 2. 59s. .
$50 for the same week last year, aud n the
past five weeks the decrease has been only
IL per cent, which IS amarsOd improve
ment. ia part due to the fact that the mills
having amy orders are buying at once what
wool they expect to need for months To
come.
Speculation Active.
Speculation has been much more active
II not more healthy. The sudden rise IN
sugar certificates followed by as sudden q
fall, has not tended to impart confidence
to the stock market, and while the average
of railroad stocks is l6 cents per share
higher and of trusts S2per share higher for
the week all improvements have been
| based mainly on reports about legislation
which varied from hour TO hour.
Failures are growing less important and
somewhat fewer also. For the week end.
ing March the liabilities thus far reported
were only S2,93s. SGD and for four weeks OF
February, Sll, ss6O9l, Of which s. 132 ,Git
were of manufacturing and S1G95, ~, OF
trading concerns. The number of failures
during the past week has been 2iS in the
United States against 1913 last year, and G.
in Canada, against 32 last year. Scarcely
a single one is of Importance, and it is
| gratifying that the consequences of the