Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-03-30
THE BUSINESS IMPROVEMENT.
II In Not Spccuiatfve-The Lifting
from the Bottom.

NEW YORK, March 29-R. G.. Dun d
Co.'S weekly review OF trade tomorrow
will say: The signs OF Improvement are
all the more satisfactory because neither
accompanied nor apparently produced by
n speculative craze Dealings In stocks,
cotton, and wheat are not divertlng all
the interest and capital frora productive
industry and legitimate trade. though
these products are all a shade stronger.
But railroad earnings. bank clearings,
and Industrial indications are more en-
couraging this week. II IL a remarkable
feature that the lifting this year begins
at the bottom, so to speak; raw materials
are raised before there is any larger ue-
mand for their finished products. thing
not often done with success. HIDES rose,
then leather. and then ehocs; cotton rose
and afterwards some cotton goods; COKE
was advanced. and afterwards Bessemer
pig. la all these cases il IL reasoned
that the larger demand for consumption,
though yet wanting, must come when IL
is seen that prices are going UP.
Higher wages for cOke-workers have
been followed by formal advance OF 40c.
I'm the price Of coke, and now Bessemer
pig has risen 35c. at Pittsburg and 21c.
at Philadelphia. Beginning at the top 10
lift prices requires exceptional strength,
but the Carnegie-Frick interest is e%ce2-
tionally strong. SO far there Is 10 an
ewering increase in demand or in prices
for manufactured products. and on the
whole the rate is slightly lower than
week ago. angles and common bar having
yielded a little. The general belief is
that dear materials will kindic more buy
ing OF products. As yet II seems impos-
siDle 10 iill the mills with orders. and the
struggle of those yet unemployed keeps
prices down.
II is a sign Of strength that an eastern
mill has secured In competition with
British makers, who had an advantage
Of 500 in froiThts. the contract FOR 1900
tons OF rails FOR a California road and
other contracts for about the same guam
tity have been placed. But the attempt
OF the Mahoning bar-mills to reduce
wages j0c. for pudding and IL lie. for
finishing seems likely TO result in n strike.
Raw cotton has been holsted until
stronger market for goods appears, with
some advance in price. The tone OF the
goods market has been decidedly i'm
proved. though il does not yet appear that
retail distribution has correspondence
But stocks of retail dealers
are light. and when they feel that prices
are bound TO rise, the demand may grow
rapidly.
A better indication of Improvement Is
the clearinghouse report for the week,
which is larger than last year.
Little that is encouraging can be said
Of foreign trade. the exports for March
being smaller than last year, while i'm
ports for the full month Will doubtless
show some increase.
Rates for money are hiCSer, as usual
Just before April LIST. and the commercial
demand Is somewhat larger.
Several large failures this month have
swelled the aggregate Of liabilities for
three weeks Of March TO 81 21l 1H, against
lo06l.9 9l last year: OF which S,ill,3i2
were of manufacturing concerns. against
81. 400 rs last year. and si.S24.779 in trad
Ing concerns. against si,22o0S2 last year.
The failures this week have been 2S4 in
the United States. against 2jS last year.
and ~ In Canada. against 30 last year.
But the recent increase indicates past
rather than present conditions OF un-