Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-11-14
THE BUSINESS SITUATION.
No One Doubts Now That n Brighter
Day Is Dawning.

NEW YORK, November l3.-Messrs. r.
c. Dun q Co. will say tomorrow, in their
weekly review of trade:
No one now doubts that brighter day is
dawnng. and it is a common remark that
never before has business shown so great
a change for the better within d single
week To the change Of conditions and OF
sDirit described last week there has al
ready answered a large increase N the
working force and I'm the volume of trade
The DISPATCHES telling Of about 800 enter
prises. most Of which have opened in full
or have materially enlarged their Iorce
though they fill many columns, give only
part of the facts, for throughout the coun-
try the gain has been surprising, even to
the most hopeful.
Foreign need of American wheat con-
tlnues an important factor. and the price
has advanced TO IS cents, gaining cents
for one week. 10 cents for two weeks, and
"a cents since early in September The
price is the highest since June, loyA
Many textile works have been starting
or increasing force, mostly on orders book
ed weeks ago. But there has not been
much gain in the demand as yet After
purchases Of 46,O0000O pounds of wool in
five weeks, the transactions fell 10 o,z45,-
700 pounds last week, but prices were
strong and In some grades l cent higher,
and even a greater advance Is demanded
at the West, while foreign markets are
higher and Australia fully cent per
Mound. The market for cotton goods Is
not vet active, but more liberal estimates
of the cotton crop are generally credited
causing a Is cent decline. 10 cents;
The output OF iron furnaces In blast
November LIST was lZiOU tons weekly
having been increased II ,295 tons, or 10 per
cent. in the latter part or october Dy
confidence in the future.
All the markets are stronger, althouBh
the enormous purchases OF pig-lron IN al
"a 4 - 4
activity at present Plates and steel bars
are 81 TO 8 per ton higher, and sheets IN
better demand. Anthracite and Bessemer
pig have advanced q shade, and the ave
rage Of prices is 2ls cents higher.
The billet pool Is in protracted meeting
here this week 10 decide upon its course,
and Is still undersold. The beam, bar
rail. and wire-nail associations meet this
week. and the undersellns OF wire nails
bv outsiders has gone so far that a
decline of g cents is openly quoted. II
is note worthy that the prevailing eXpecta-
tion. Notwithstanding the general I'M
proyement in business, is that some, II
not all OF these combinations VIII desire
10 reduce prices. Tne coke combination
IN now appears. has not prevented large
contracts for future delivery at less than
e. its fixed price and even less than Sl.lo,
hut the output last week decreased.
The change in the money market IS
striking Instead OF &,JDlOJ going out 10
In this week; instead Of " cents discount,
New York exchange at Chicago Is at 20
cents premium, instead of merchants ana
manufacturers yainly hunting lenders,
hanks are hunting Tor more commercial
raner Commercial rates are down to 8
~ cent on the best paper. Foreign eX-
change is higher, owing 10 sales OF Si,VW :
0OO governments taken by the Bank OF
England as a member or the syndlcate
early in 1895 to payments OF SNy.w0 III
nj IN fTTlifrn realizing
| S9 OO0 O00 OF securities. but all these are IN
erect taking profits for confidence IN
American honor. -. o-e
In the United States against ~ last
Year. and l6 i'm Canada, against ~ last
Rradstreet's tomorrow will say: The
| volume OF business improves slowly IN
| nearly all lines. The most active demand
| Is among jobbers in dry goods clothlns'
| millinery shoes leather. and hardware,
| and in leading industrial lines, nearly ~
| mills factories, and foundries having
started up this week, one nan OF tne.ii
| In the iron steel, machinery, tools car
| riages. lumber. glass, woollen. ana cotton
GOODS lines About l30 other Industrial es-
| fabiishments have increased working
forces or working hours. or ootn' a
| Martial record Of the number or men
| Fiven employment in Industrial lines since
| November 9Th shows an aggregate OF
nearly 5)Co 49,, -
| The demand Tor iron anu eleti ilis
not increased, after the activity OF q
| week ago. but prices are firm-in some
| instances have advauced-and the trade
| continues confident OF large business
| during the coming year. Cotton and cot
| ton goods continue firm and unchanged N
| price. and print cloths have an upward
| tendency. Wool In higher, on more active
| demand. but manufa ctuTers are not sup
| nlvirg In excess OF wants. Other ad-
| vances In prices are for leather, shoes
| vhite-pine lumber. petroleum, lard, and
| sugar and for wheat corn and oats
| The strength Of the statistical position
| Of wheat is as marked as heretofore, ane
| renewed INQUIRIES are received from
| AustralIa. Conspicuous decreases in prices
are those for coffee, pork. and turpentine
| Western iobbers report an Increase II
mail orders and say that the between
seasons situation IN some lines alone pre-
| vents the Improvement in demand IRON
| iobhers being general Mercantile collec
! lions throughout the Central, western
| and Southern States are easier but com
| plants are stin heard from the West.
Bank clearings leaped up 20 per cent