The times. [volume] (Richmond, Va.) 1890-1903, 1895-03-30
FURTHER IMPROVEMENT
MANY ENCOURAGING FEATURES IN
cHE BUSINESS WORLD.
The Rise I'm Cotton and Wheat Followed by
an Advance in the Price of Coke and
Bessemer PIg-Coke Rate Fixed.

NEW YORK, March pr. G. Dun &
Co.'S weekly review of trade tomorrow
will say:
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 industry and
legitimate trade, though these products
are all a shade stronger. But railroad
earnings, bank clearings and industrial
indications are more encouraging this
week. 1t is a remarkable feature that
the lifting this year begins at the bot
tom, so TO speak; raw materials are
raised before there is any larger demand
for their finished products, thing not
often done with success. Hides rose,
then leather. and then shoes; cotton
rose and afterwards some cotton goods;
coke was advanced and afterwards Bcs-
semer pig. In all these cases it is rea-
soned that the larger demand for con
sumption, though yet wanting, must come
when it is seen that prices are going
up.
COKE AND BRssEMER PIG.
Higher wages for coke workers have
been followed by formal advance of
10 cents in the price OF coke, and now
Bessemer pig has risen 30 cents at Pitts
burg and 3 cents at Philadelphia.
So far there is no answering increase
in demand or in prices for manufactured
products, and, on tne whole, the rate Is
slightly lower than q week ago, angles
and common bar having yielded a little.
The general belief is that dear materials
will kinde more buying Of products. AS
yet il seems impossible TO fill the mills
with orders. and struggle of those yet
unemployed keeps prices down. 1t is
sign Of strength that an eastern mill has
secured in competition with British
makers, who had an advantage of $3.50
i'm freights, the contract for 1900 tons OF
rails for a California read and other
contracts for about the same quantity
have been placed. But the attempt OF the
MahOning Bar Mills to reduce wages 80
cents. pudding. and II l-2 cents for finish
ing, seems likely to result in a strike.
STRONG MARKET FOR COTTON.
Raw cotton has been hoisted until there
| is a stronger market for goods with some
| advances in price. The tone of the goods
market has been decidedly improved.
though il does not yet appear that retail
distribution has correspondingly increas-
| and when they feel that prices are bound
10 rise, the demand may grow rapidly.
A better indication of improvement Is
the clearing house report for the week,
| which is larger than last year. Little
| announcement can be said of foreign
trade, exports for March being smaller
| than last year, while imports for the
| full month will doubtless show some in
| crease. Rates for money are higher, as
| An ri IGf
| merc:al demand is somewhat larger.
Several large failures this month have
| swelled the aggregate or liabilities for
| three weeks OF March 10 $ll,Zll .l2l, against
| $1,000, 1891, last year. of which 50, ll,32
! were of manufacturing concerns. against
| ST. 49, us last year, and A,&4,179 in trad
| ing concerns, against $4.225.0 S2 last year
| The failures this week have been 234
| I'm the United States, against 23S last year.
| and AZ in Canada. against 80 last year.
| But the recent increase indicates past
| rather than recent conditionss OF I'M
soundness.
UPWARD TENDENCY OF PRICES.
| Bradstreet's tomorrow will say: Gen.
eral trade, for the third week i'm success
sion, continues to show evidence OF inn
| proyement. In no other direction Is bust
| ness so plainly indicated as In the ten
| dency OF prices. A week ago encourage
| ment had been obtained from a generally
unexpected advance in cotton and wheat.
| Following this slight reaction. the week
has witnessed a firm cotton market.
Further Improvement in wheat with a
sympathetic influence on corn and oats.
the affect OF which is greatly emphasized
this week by advances In quotations, not
onlv for coke, but prospectt'ely for iron
ere and for Bessemer pig k)n. for steel
billets, and actually for MANUFACTURED
iron Al western markets. Higher quota