The times. [volume] (Richmond, Va.) 1890-1903, 1894-02-10
PROGRESS IN THE SOUTH.
ONE IMPORTIyT DEyELOPMENry
DURING JUE PAST UELH,
Two New coal Mining Companies. n Ho-
siery Mill and Cotton Factory Among
the New Industries in Virginia.


dition Of business In the South for the
week, says:
Notwithstanding the restricting inAu-
ence OF threatened tariff legislation upon
some branches Of Southern industry. there
is in general a decided improvement. with
Increasing activity In many directions.
\ large number of Southern factories.
including a rolling mill that employs
nearly 900 hands, and iron pipe works
that emnIov 4OO or 800. have started UP
during the week
The Newport News ship gard Is eagag-
ing 200 additional hands TO w,rk on
Contracts lately secured. Bank clearings
show an improvement compared with
Other sections. The sales of fertilizers
are very heavy, ana spring JopDins 'raue
outlook is promising.
Imnortant developments OF Southern
progross during the week include the let
fine 80 a contract for a 100000 steel
railroad bridge across the Mississippi river
AT New Orleans preparations for i'm
placements on the Dismal Swamp canal
OF vi-oi,ia 10 cost 100000, and extensive
iat,, ,,orl, az Mayport, Fla, a 10000
suburban electric line at Atlanta, a steam
road I'm Georgia twelve miles long, and
the acouiren,ent Of terminals on Calves
ton Raw for the Gulf and Interstate
railroad. n twenty-six mile road to be
built in Texas 10 develop "A tract OF
81 600 acres Of coal land now being open
ed I'D TO furnish coal 10 the Southern
Pacinc railroad, contracts closed for
turning a large volume OF traffic from
$500 miles of western roads to the sea-
board over the Chesapeake and Ohio,
and the organization Of "A company 10
extend the Atlantic and Danville rail-
road 10 the coal fields Of Southwest Nir-
ginia.
Among the new industrial projects are
two new coal mining companies Ia Nir-
ginia. with 10000 and 10000 capital
stock respectively -four mills In South
Carolina and Tennessee a S40.0O furni-
ture factory in Arkansas. n SlO.0o) cop
per works i'm Tennessee. a 100000 irriga-
ton company to develop Texas land,
$4,000 phosphate machinery company I'm
MARYLAND. a $500 hosiery mill In Vir-
einia. bids invited for building a cotton
mill i'm the same state shoe factory
i'm Memphis, a $4,000 lumber company
in Augusta. $9ooao shirt factory in West
Virginia. gas works ~ Newport News,
$4,000 electrical company at Dallas. etc.
Ra'iwav Tranic In the south
NEW YORK. Feb. 9.-Broadstreet's to-
morrow will say:
Unfavorable features i'm general mor-
chandse lines are conspicuous i'm the re-
action in the raw wool market following
the squirt given sales Of that STABLE, par
ticularly at Boston, I'm the preceding two
weeks when the quantity sold exceeded
100000 pounds, and In the appearance
g 10 Hf.,. South nd West
and reports from Baltimore that general
trade for February opens disappoinungly,
results being smaller han expected
4 plainly favorable feature of January
railway earnings, as shown in the reports
from southern roads. We're nOticeably less
unfavorable than I'm the preceding month.
There are forty-Odd assumptions Of i'm
portant industrial establishments this
week contrasted with announcements Of
the shutting down OF only six similar
concerns. An easier wool market at home,
emphasized by weaker market at Lon
don. may be contrastel with the fair job
bing movement i'm general dry goods
amongst leading houses at eastern cen
tres. which report the volume Of trade
fof. January fair, notwithstanding sales
We're IN small lots. A favorable surprise
is i'm results Of the sales Of home and
foreign silks at New York. prices paid,
instead Of resulting IN a loss, rs pre-
dictcd. furnishing a fair margin of profit.
and pointing 30 the willingness of dealers
TO replenish stocks i'm advance Of imme-
date demands. There Is a gain also in
movement Of mems wear. woolens from
eastern centres. and the increased demand
for steel bilets at Pttsburg and at Chi
cago is such that prices are nearly. If
not quite. 81 "A ton higher. and more than
A. Of STOOL haNC nCpn cont Tg Ct ed
Tor
Demand for rods. wire. and nails has
increased as well. and some mills have
refused further orders at current prices.
Sales Of southern pig iron have been
Increased at the West.
There we're 336 business failures I'm the
United states this week against 80 last
week 223 i'm the week A year ago 2il
two years ago. and go three years ago.
Reports From Sonihern Points.
Baltimore reports the trade for jan
uary % per cent less than last year, and
the current demand not up to expecta-
tions. Hand to mouth purchases con-
tinue the rule In general merchandise
lines at Pittsburg. but inquiries for iron
and steel have increased.
There is a slight increase i'm business
at Louisville. particularly i'm leaf tobac-
co sales, which are satisfactory and
prices higher.
Charleston. Memphis, and Mobile re-
port no material change I'm the condi-
tion Of trade which is quiet, with the
exception that at the first lumber and
fertilizers are more active.
Atlanta manufacturers are working
more hours daily than for year past,
but available funds exceed the demand.
There is an increase in business at
Augusta in all lines. with good demand
for products Of cotton factories. SaVan-
nah reports general trade Improving
with spirits of turpentine leading as TO
demand and gain In price
Nashville reports business checked by
the weather and of limited volume, with
money Offering i'm excess Of demand. The
Birmingham Rolling Mills are announced
TO open soon Trade was stimulated az
New orleans last week by the Mardi
Gras festival, The number OF buyers visit
ing that city. both wholesale and retail
being considerable.
Exports Of corn continue heavy, and
the resumption Of sugar bounty pay
ments has had a stimulating effect on
trade.
General trade at Texas cities shows
gain over preceding weeks.
Eject of the Bond Issue.
NEW YORK. Feb. 9.-K. q. Dun x
Co.'S weekly Review of trade to-morre"
will say:
Improvement in business still appears
in many directions, but 1t seems 10 De
in part balanced by loss in others. Inc
gradual gain which began some time ago,
and was strengthened a little by the
success Of the Treasury loan, has scarce
ly answered expectations. Reports g. re-
sumpiions OF work continue 10 indicate
that the industries are doing more IMAM
in December. and vet the record OF their
actual gain Is disappointingly small. The
o. In. LII 4 In nliRr-