Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1895-04-05
NOT RETROGRAD1NG.

Anu, SO IdI liou lc1losIdung.I Inc f1nan-
cial situation, or 'sthe times, as we prefer
to call it, is strong and still facing to the
morning. Both 'Bradstreetn and .sDun's
Review" the two authorities in this coun-
try. note further improvement, and the
latter says: ''Signs of improvement are
all the more satisfactory because neither
accompanied nor apparently produced by
a speculative craze. Dealings in stocks,
cotton and wheat, are not diverting all the
interest and capital from productive in
dustry and legitimate trade, though those
products are all shade stronger" The
net advance made by wheat is Il cents,
pork has advanced IS cents hundred, lard
and hogs Is cents per hundred pounds, and
Bessemer pig iron has risen from 25 to 35
cents. A most excellent sign is that the
New York bank reserve has been greatly
diminished and the rates for money have
advanced. Three weeks ago We noted the
fact that the Western banks were drawing
their money from New York to meet the
demand at home, and now we see that the
banks at Richmond are having as much as
they can do to supply the demand of their
home customers. A president of one of the
largest banks there Informed representa-
tive of the Richmond State that ssMOst of
the banks in the city had lent to the limit
of their reserved fund, and as for himself his
bank was even borrowing money to supply
the demand of regular customers, while
the other institutions represented by him
easily found customers for all their funds. y
In talking some days ago with one of the
mond, who was visiting friends in Staun-
ton. he Informed the VINDICAToR that the
signs of the breaking up of the want of
confidence which had locked up capital and
made times so hard for the last four years,
were unmistakable. Capital was again
looking to the South for investment, and it
was within his personal knowledge that in
the last four weeks one prominent business
man of Richmond had had not less than
three offers to become the head of as many
enterprises to be formed by Northern
mostly BOSTON, capital in and around
Richmond, none OF the three involving less
than $500, 900 in capital. Coming nearer
home, the big Rarig Works at Buena
Vista surprised the citizens there last week
by the sound of it's whistle. 1t has con
tract, not large one, but, like everything
else just now, a beginning Of better times
The proprietor said he expected further
contracts which would put force of one
hundred men at work. Nearly all the big
railroad lines made a good showing for
February, though the Chesapeake 4 Ohio
and Norfolk & Western did not, the fearful
freeze and SHOWS of that month in Virgin
ia having snow bound trains and decreased
earnings. Last week, for the first time in
many months stocks were stronger in New
Y ork with good reason for being SO.
The farmers are lightning to feel the
Improvement. Here, right at home
in Augusta county, last week a
Car load Of cattle was sold to lie de-
livered in May, at sic; another car load to
he delivered in August at 44c-just 14c
more than they commanded in August last
year-and car load to he delivered in Sep
TENDER at 35c.
Altogether, the country goes into April,
1895, with far different feeling from that
with which it entered April 1894.