The times. [volume] (Richmond, Va.) 1890-1903, 1895-01-12

The Beginning of the New Year Has Not
Brought the Hopsd-For Improvement.

NEW YORK. Jan. n.-Bradstreet's to-
morrow will say:
The weeks trade shows little improve
ment in general business. AT some cen
tres IL is too early to judge Of the outlook
for trade The travellers in many in
stances have not all gone out. Western
furniture manufacturers are stocking up,
which has had an influence on the hard
wood trade. and western dealers In iron
and steel expect orders by February LIST.
Production of iron and steel Is going on
In excess of demand, but manufacturers
expect that necessary repairs, renewals
and additions TO plants by railroad com
panies. car manufacturers and other in
dustrial enterprises will have stimulat-
ing effect In the future.
Mercantile collections South and in the
Central West are reported fairly salts
factory. or improving to greater ex-
tent than for thirty days previously. Con-
fidence of wholesale dealers in staple lines
that the near future in business promises
increased activity. with an upward ten
dency in quotations, Is pronounced at
some cities-Pittsburg, Philadelphia and
Boston at the East; Atlanta, Jacksonville,
Chattanooga and Galveston at the South,
and at Cleveland, Chicago, Omaha and
st. Louis in the West. Each Of these, ex-
cept Cleveland. reports moderately inn
proved condition OF business this week,
as does Milwaukee. At other points gen
eral trade Is quiet, unchanged and with
out feature.
X. G.. Dun & cos weekly review OF
trade tomorrow will say:
Neither the beginning of the new year
nor the failure OF the currency bill has
brought any material change TO business
as yet The idea that business would
suddenly take a new start after the hOli-
days had rather less foundation even
than usual but the hope OF strong re-
vlval little later is still cherished b.
many.
There has not been much time for
change in the Industries, but differences
observed since the new year began are
not in the direction of higher prices or
larger demand. There are more indica-
tons than of late that stocks of different
kinds of dry goods have been accumulat-
ing in consequence Of past increase in
production
The weekly output Of pig iron January
list, reckoning in some furnaces only tenn
porarily out of blast for the holidays or
repairs. was 16S,414 tons, against l6S, 762
December LIST, showing practically no
change But stocks of -unsold pig in
creased during the month about 20 00J
A"ho htthAyf oO tlidl dNludl
in the manufacture seems to have been
about $4,000 tons weekly, against 157. 90
In November. In any case the industry
Is doing better than a year ago, when
the output was less than 100 900 tons,
but indications of excess OF production
over demand are found in further weak
ness of prices. Bessemer pig sells at sll. 50
at Philadelphia, and steel billets at ST.,
gray forge at 1915 al Pittsburg, wire
nails at 50 1-2 cents and barbed wire at
I05. other prices remaining, as before,
about the lowest on record. Low prices
at Pittsburs have checked business at the
West, and are attributed by some to the
IDEA or purchasers that the recent re-
ductions in wages and cost of materials
must be followed by still lower prices
But the main fact is that cons,Imption
ID below expectations.
There is more money coming I'm from
the interior, and the business of the
country does not yet afford larger use
for interest. 1t is a most significant fact
that money still comes TO this country
largely during the first two weeks Of
January.
Failures for the first three days of the
year were rather large, as is natural
with liabilities of 81 .622 9O3. of which S266 >
81 were of manufacturing and 81 .3i7. 272
OF trading concerns. Failures this week
are 40 in the United States, against 474
last year, and "a in Canada, against 81
last year