The times. [volume] (Richmond, Va.) 1890-1903, 1895-12-28
BUSINESS CONDITIONS.
Failures sHOW LITTLE IMPROVE.
MEyT OYER LAST FEAR.
violent Reaction Caused by the Presidents
Messsses-Iron shows No Improve
ment-General Conditions.

NEW YORK, Dec. H.-R. G. Dun q
Company viii say tomorrow In tneir
weeklyS Review OF Trade:
Failures for the week fave been Szz IN
the United States. against $50 last year,
and 40 In Canada. against Al last year.
The failures OF the fourth-quarter OF the
year OF 1895. not yet finished. cannot be
definitely stated, but the aggregate OF oe-
ferrxd liabilities for the year, while mucn
smaner than 1898, will vary but little
from that OF 1894 The years aggregate
OF commercial liabilities VIII probably
be about yllO,00v,0J0 In manufacturing.
over $s3.000,0~, or 10 per cent. more than
last year. bur in trading ABOUT ~S.VD,-
600. or per cent less than last year.
The foreign and financial messages o,
the President were followed by violent
reaction In the stock market last Satur-
day. with grave fears OF monetary .rou-
BILE. The sudden panic cheSed business
In many departments. and the Industries
cannot he expected to show signs or I'M
provement until the new year begins.
Orders. have for most part been small
or than In the summer, when production
~ expanding, and prices mounting
rapidly, that new cases OF uncertainty
have the more influence Bessemer pig
iron has declined % per cent. more AT
Pittsburg; the Bar Iron Association has
reduced Its price to the rate at which
steel and iron bars are actually sold, and
al DOSl lldttS IflS lDuuNIN liO
the speculative advance In prices and pro-
duct'on last summer.
II is noted that bessemer and open
hearth steel were offered at the same
price in bids on 5000 tons. which Pitts
burg mill WIN produce for appraisers IN
stores here.
The great textile manufacturers usual
holiday dulness has been experienced but
good demand is expected soon. Standard
brown shcetings and drills are an eighth
lower and cotton goods average third
Of ] per cent lower.
The shoe and leather business does not
improve and manufactured goods have
declined slightly, though speculation is
again hosting hides about 10 per cent.
for all in two weeks, and for some kinds
q per cent.
Cotton fas remained AT IL since last
Saturday, and enormous commercial and
mill stocks here arI abroa !. with de-
mand for good much smaller than In
Ssptcmber. hinder an advance
Thc gently which has come into sight
Is 20 per cent. less than last year TO date,
hut slightly larger than in 1892, when
tie crnp was 61nn.CcO bales.
Payments through clearng-houses were
ahnormaliv swaii~d by last week panic
80 that the avcrdc" daily clearings for
December al all points is Is per cent.
more thon i'm 1894 and 1872 per cent. less
than in lS.f2.
Foreign trade shows gain Of 1915
per cent. in exports from New York for
three weeks OF December, NI'tN - hf-
cct dly encouraging. and decrease or
49, per cent In 'r,pcris here.
pRADSTREE
Bradstrect's tomorrow VIII say;
As Is the rule i'm Christmas week. whole
sale trade has been quiet. The holidays.
the close Of the year, and stOck-taking
tend TO make business slow. and promise
only a light trade until late in January.
Boston. Baltimore. and Chicago. antici-
pations as to the share of trade early
in the coming year are hopeful. hue II
remains to be seen whether the down.
ward movement OF demand and price and
the delay in putting the currency on
sound basis, all OF which have begun
to show themselves IN trade conditions:
will permit OF as early and as marked
gains in staple lines as In 1894 mas been
confidently anticipated.
Business failures In the country for
completed year number 1903. an increase
Of more. than per cent. The increase
Yves. Northwest. and i'm the Middle
States. decreases being shown IN New
England. at the South. and on The Pa
cihc Coast
The prices movement is more favorable
than for number Of weeks. the quota
ton for coke having been advanced. as
well as those for mohair, wheat, indian
corn. oats. and for sugar. while leather,
hides. lumber, coal, wool. coffee, ana print
cloth quotations are unchanged.
Fractional reactions are reported IN
prices of refined petroleum. cotton, pork,
flour. iron. and steel.
The weeks features in commercial lines
are rather better trade in Christmas spe-
cialties than expected. a check TO business
i'm the West from long-continued rains,
extremely light stocks of goods in the
hands of retailers, the strength OF wool.
and the expectation of holders that II
will advance should the proposed duty ne
placed on H. together with the pro-
nounced movement Of funds from the
Fast. not only TO pay interest. but for
the demand for currency by large circles