The Monticellonian., 1895-03-22
pUN'S COMMERCIAL REVIEW.

| Although the Improvement Is Slow, an
 Not to be Compared with the Prosperou
 Times of Two Years Ago-A Feeling O
 Confidence Gradually Returning.
 NEW YORK, March 16 R. G. Dun S Co $ weekly review of trade, issued to day, says:
 Substantially all indications of tn state of business are rather more ia vorable. Farm products are a littl, higher, railroad earnings shade bet ter, clearinghouse exchanges a small percentage larger in comparison witt two years ago than in February ana most of the industries show a some. what better front, though their gain is not large Money markets continue undisturbed, the operations of the syndiate still prevent exports ot gold, and withdrawals from the treasury have of late practically ceased. There Is not much enthusiasm about the situation, how. ever, because the gain is slow, and business is yet long way from what was once considered prosperous con- dition. Further, the gain is in some cases due to obviously temporary
 
 not make for prosperity.
 The higher price of cotton, which has risen to 6 06 cents, results from be- lief that the acreage this year will be greatly reduced. The quantity of American now in sight, in this coun- try and in Europe, is about 4, 400, 900 bales, 800, 900 larger than in 1892, after a crop exceeding 5000, ,0o00 bales, and about as much more than half the greatest consumption ever known of American in a year.
 Wheat has arisen If cents because government reports only 5000, 900 bushels in farmers hands March 1, though practically nobody in the trade thinks the estimate correct, and the accepted estimates are about 60, GOO, 900 bushels higher. Western receipts have again risen above and exports continue below last years. Corn has risen 1 cent. following wheat; pork, $I. 25 per barrel, and hogs 10 and lard 30 cents per 100 pounds.
 Railroad earnings for March compare better with last years than those early in February, when storms blocked traffic, but are per cent. smaller than in 1893. The complete earnings for February are IA per cent less than last year, and f5.1 per cent less than in 1893. East bound tonnage for two weeks has been IA, ,192 tons against 154, 9O5 last year, and l65, roc in 1s93
 The volume of payments through clearinghouse for the week is 5.7 per cent. larger than last year, but 26.9 per cent. less than In 1893.
 Imports are just now running a lit tie smaller than In February, while domestic exports for two weeks from New York show q decrease compared with last year of Il per cent.
 The output of pig March 1 was 156,- 979 tons, a decrease since February of 6,412 tons weekly, and the increase of unsold stock was 52. 900 tons in Feb ruary, or 13,225 weekly. Since Janu- ary the weekly output has decreased H. 435 tons, and the accumulation of unsold stocks has been 125, ,515 tons Prices do not rise, and except at Chi cago there seems to be no general in crease of demand. There improve ment is observed in nearly all parts of the industry. particularly in materials for agricultural implement works, and at Pittsburgh the demand for struc- tural forms continues large. Bessemer pig is weaker at Pittsburgh, and while demand for bar improves it falls short of the supply. Sheets are active, and also wire rods, without change in prices.
 The boot and shoe manufacture is doing better, not merely in shipments, which show the rapidity with which past orders for spring trade are being filled, 159, ,176 cases having been moved in two weeks of March, against 163,- 907 in 1893, but also in obtaining new orders for fall at somewhat better prices.
 In the cotton manufacture there are signs of improvement, apparently caused by the advance in raw cotton, giving greater confidence that present values for goods will be maintained, so that the fall in print cloths has been checked, and there is more buying of other goods In the finer and fancy woolen goods there is moderate busi- ucsS, Wnllc agents lOT LOW anu medium goods are waiting for recorders, though some have already sold enough for the season if no cancellations come Sales of wool were 4,6sS, 200 pounds, against 3,S5l,70o last year, and markets are quiet without change.
 Money is in better demand, the mar ket hardens as usual before April l, and much more commercial paper is offered. The west is drawing from it's balances here and there have been con- siderabl sales of stocks on foreign ac- count.
 Liabilities thus far reported in fail ures for the first week of March amount to sl, ,osS, ,O52, against S, 276, 292 last year; in manufactures S7s5, 396, against S973, 570 last year, and in trad ing Ss97, ,656, against Sl,254,9 ,93s last year. The final returns for February make the aggregate S11, ,414, ,374, against S17,S95,67 last year
 Failures for the week have been 266 in the United States, against 264 last year, and 57 in Canada, against 55 last year.