The times. [volume] (Richmond, Va.) 1890-1903, 1895-01-26
NO BUSINESS IMPROVEMENT.
The Average Of An Commodities Has
Touched the Lowest Paint Ever Known.

! Touched the Lowest Point Ever Known.
NEW YORK, Jan. 25.-R. G.. Dun &
Co.'S weekly review Of trade tomorrow
VIII say:
Events have not helped business this
week. Industdes have not yet found
/ sufficient dengn nd for their products TO
! preyent further decline in prices. and this
week The average for all commodities has
touched the lowest point ever known.
Tho nun,bsr OF hands employed does not
inc-aaea and a Strike has cut of for more
than "a week about half the business or
BROOKLYN. 10 some extent affecting traue
here. Congress has done nothing 10 re-
plcnlsh the Treasury, and great variety
Of financial doctors, each oHerlhs ms
remedy. does not promise health for the
pafient Another offer Of bonds under
the old law aad existing circumstances
might result enthusiastically. At bottom
business hesitafes because the future IS
clouded. and the consuming demand mas
not Increased IN January, as was ex-
pected In belief that 1t would. indus
tries had enlarged production, and untll
1t does the excess OF producing capacity
constantly lends to depresS prices. In IRON
and steel weakness Is seen at Philadel-
phla, where Bessemer iron Is quoted at
sll. 50 and plates at $780, and at Pittsburg
gray forge IS quoted al $9.0j and wire
nails at S5c A better demand appears for
bars at Pittsburg, but at Chicago they
are unexpectedly dull. No transactions in
rails are reported, and in general the de-
mand for finished products Is considered
disappointing.
The demand for cotton goods has been
staggered by successive reductions in va
rous lines, singiams having been espe-
cially depressed, but the demand IS sill
ftt. afa d aoII eoIa to
ly at 1-2c. the lowest quotation on
record. but have been lifted a shade by
speculation. Even with cotton at almost
the lowest point, sales to Spinners are re-
stricted. Cotton barely escapes the lowest
point on record, with receipts from plan
tations nearly $4,000 bales larger than at
the same date when the crop was over
100000 bales, and stocks Of American
here and abroad 3000O0 bales larger than
at the same date that year.
Exports of s7,3j0nO0 gold this week, max
Ing about $20OOO,OOD in January, have been
partly for Illinois Central settlement, but
mainly due to Withdrawals of foreign cap
,Ital CONSIDERABLE sales of stocks and
of high priced railway currency bonds
seller fifteen days" shows doubt about
The monetary futures OF the same sig
nifcance are purchases OF bills for future
remittance by importers. as n change In
the currency would subject them to loss.
Many bankers talk seriously of the dam
ger that silver basis may suddenly
come unless congressional Inactivity
ceases.
Liabilities In failures for seventeen days
Of January were T,5Ol, ,9O9, against $l2.-
6jS,SW In eighteen days last year; manu-
featuring liabilities were $l.5720i3, against
S5Uz,S8 last year, and trading s., ,S9i, lG6,
against 1.s0030S last year.
Failures this week have been 1863 in the
United States, against $50 last year, and
80 in Canada, against So last year.
Bradstrects viii say:
kilograms and mail advices from
the more important distributing centres
fail TO reveal any marked improvement
in the movement Of merchandise and pro-
ducts, and the conclusion is forced that
me general trade situation remains as pre-
viously characterzed-by small volume,
low prices, hand-to-mouth sales, and the
outlook favorable to "A very conservative
trade for some time TO come.
Gains in demand have been noteworthy
only at eastern woolen mills for mems
wear fabrics among Providence manu-
featuring jewelers., wholesale dealers in
staples at Augusta, Memphis and New
Orleans. and in the West and Northwest
at 81. Louis, Kansas city, st. Paul and
only, Improvement being
rather by contrast with recent dullness
thdn with the volume Of trade ordinarily
transacted al this season. An exception
IS IN wool sales, which have increased
sharply, though prices are no higher.
NILS report Unexpectedly heavy orders Of
mems wear wOOlens for fall delivery. i'm
spite of foreign competition, clothiers hav-
ing placed the bulk of oyercoatings and
general suitings contracts with domestic
mills. Transactions In prints and ging-
hams are of fair proportions. the latter
having been stimulated by cut prices.
None Of the larger eastern cities report
Z likelihood Of demand TO anticioate
wants.
On the contrary, all indications are for
a continuance OF orders for nearby wants
only. Boston reports decrease In the
quantity Of commercial paper Offering.
and Providence small stocks of goods on
hand. AT Pittsburg unfavorabIe |
weather has checked trading again.
Philadelphia textile mills are dis
satisfied with the situation and the out
COX, but Baltimore jobbers say trade is |
fairly satisfactory.
AT the South collections are slow. espe- |
Tally in South Carolina, Georgia and Vir
;inla. More interest is manifested bv |
IGtrons OF Richmond iobbers and |
-aarieston and Savannah respectively re- |
'ofl fertilizers and naval stores more |
'ctlVe. At Atlanta jobbers are awaiting
esults of February lst settlements before |
seeking to extend trade. Almost all |
outhern centres general trade remains |
Iuiet and of very moderate volume.