Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-01-27
DUN AND BRADSTREET.
The Improvement in Business Continues
Though II IL Slow.

NEW YORK, January OR. G. Dun
& Co.'S weekly review of trade tomorrow
will say: SECRETARY Carlsle's decision TO
issue bonds and the early reports OF
large bids for them helped TO accelerate
the recovery of industries and trade, as
was hoped last week. The sale OF the
amount offered will check anxiety about
the maintenance OF note redemption. re-
move the only preteXt for further issues
Of paper, and thus give "A solid basis for
greater confidence regarding the financial
future The increase In the number OF
hands employed adds TO the purchasing
power Of the people, and OF dealers.
Stocks are 50 reduced that any sign or
larger consumption quickly gives the mills
more orders In short. the conditions are
such that, If not Interrupted by adverse
forces. they would naturally bring
steady revival of business.
The Industrial gain Is more definite than
"A week ago. Few establishments have
stopped work, while many have resumed or
increased production. and though these are
not works employing thousands each, the
aggregate increase is considerable Re
auctions in wages continue, and about
quarter of them are OF - per cent. the
rest ranging from TO II per cent. In
no direction are quotations Of manufac-
tured products higher. but while some
have actually declined, the general tone
IS somewhat stronger.
Thus distinct Improvement Is seen in
the demand for iron products at Phila
delphla. though for some. which II was
thought could not go lower. quotations
have been reduced. The sales Of pig are
larger. though $3.50 is now the open quo
tation for Bessemcr at Pittsburg, and
southern forge is sold at 60 at Birming-
ham. the lowest price telegraphed last
week having been, II is stated. for
lot OF inferior quality. The Tennessee
Coal and Iron Company has made con
tracts for ore which reduce the cost OF
it, iron % IL per cent. per ton. and lower
contracts for ore and freights are also
reducing the cost TO consumers Of lake
ore. Connellsville coke Is quoted at 81
per ton. with the number Of ovens I'm
operation practically unchanged. The in
crease in demand for iron products is
mainly IN structural forms-cast pipe.
wire rods, barbed wire, and wire nails
while in rails and other railway iron
business is remarkably small.
The textile industries have increased
their working force mainly In knit goods
underwear and carpets, though several
woollen mills have started. and others are
reported about to start.
Cottons are not stimulated as was hoped
by the reductions announced, and the
effect has been t. make buyers OF other
goods hold of. so that the market IS
weaker
The New York banks have again added
TO their enormous sum Of money. and
offers are made for full year at 4 per
ba a record for that
period while for short loans one per
cent. rules. Decentralization IN silver was
caused by abandonment Of the proposed
import duty by the government of India.
and also OF the fixed price for Council
bills at London. but foreign exchange is
not seriously altered Domestic trade is
the key of the situation. and the clear
ings outside OF New York are 2t1 per
cent smaller than a year ago. This Is
partly because the average price OF COM
rnodities Is 1913 per cent. lower than
year ago having fallen AZ per cent. since
October LIST, while British prices accord
ing to the London Economist fell 2.j per
cent October LIST to January list.
The failures in the United States were
$50 this week. against 255 last year. and
I'm Canada. IS. against 10 last year None
are OF great magnitude.
Bradstreet's tomorrow will say: The
IMPROVEMENT in industrial and commercial
lines. heretofore reported, continues 10
grow moderately. ard shows gains from
week to week, although more cOnspicu-
ously in manufacturing than in CONNER
clal lines. This Is indicated by the record
of 62 resumstions Of more important
manufacture establishments this week.
compared with IL shut-downs. The sud-
den and severe change in the weather has
checked shipments OF merchandise at
many western and northwestern points.
although orders for seasonable goods have
In many instances been increased with the
cold and storm. Stocks OF general mer-
chandise at interior points almost with
out exception remain light. and although
purchases from tobbers are generally for
nearby wants. the accumulation of these
Is aggregating a considerable volume.
The more conspicuous increases In the
sales by ;obbcrs are OF dry goods. cloth
ing, shoes, and hats. There Is much
better demand for iron, although at cut
prices, and quotations I'm some lines of
iron and steel are below figures at which
,t was supposed possible 10 produce. The
sales of raw wool are large. notably at
Boston although quotations are shaded.
The demand for ginShams. prints. and
general wash fabrics from eastern job
lines being the principal inducement to
buy. Dress woollens are quiet, though
spring styles have opened. The eastern
cotton mills are active. but their product
Is not selling freely.
Aside from the depressing influence Of
an unprecedentedly low range OF prices
for leading staples. heavy drag Oh gen
eral trade now Is uncertainty as to the
outcome OF tarir legislation.
The accumulation OF funds at Philadel-
phia emphasizes the dulness. but there are
gains in sales In some lines notably among
jobbers OF dry goods and manufacturers
OF morocco. Baltimore reports that the
hopeful feeling continues. and that the
sales Of millinery. crockery. glassware.
and drugs are larger. There IL a slight
Improvement In merchandise lines at Pitts
burg, where the raw-iron and steel-mar-
kets report Improvement.
There are more orders received at Rich
mond. and the feeling there favors i'm
provsment. The outlook Is brighter at
Charleston. but trade there II quiet. Bust
ness remains ~ before reported at Nash
Vile. but there h Improvement at Mem
phis In dry goods ana groceries. Gains
are rcported In general lines ct Savannah
= - - ~ -