The times. [volume] (Richmond, Va.) 1890-1903, 1896-11-07
PROSPERITY RETURNING.
the DICIORY or sol Nd MONEY
UfpiNG rs EFELCTS.
IL Has Acted n n Tonic to- Dropping Bus
incss Interests and the Outlook
j. Very Encouraging.

NEW 1Oltht NOV. b.--ipi A"''i GU . ~
morrow will say:
The expected has happened in the sue
cess Of the fight FOR sound money. one
result IS a return OF confidence in the
stabilitles OF values and in an early re-
vival Of demand for staples. Lower
rates Of interest and willingness on the
part Of the banks to make loans which
had previously been declined are addi-
tional evidences OF the meaning Of the
maintenance of the gold standard. Bus
mess was practically suspended through
out the country early this week and there
has been little increase I'm the volume
since the election, compared with Ike pc
RODS in preceding weeks. But manu-
facturers and jobbers are more inclined
TO purchase IN advance instead of for
nearby wants only, and in a few lines
notably wool. cotton, iron and steel
large volume Of purchases is reported.
Tint merchants generally share the
confidence in an early revival IS indicated
by hardening staple prices and the in
creases I'm quotations in addition TO those
given in preceding weeks. Sales of cot
ton goods have been freer and some mills
are better employed.
WOollcn mills also report more orders,
and "a tendency 10 prefer higher cost
goods Numerous industrial establish
ments which have started up within two
days report being offered large orders
If they would sell for 1896 delivery az
present prices. Millions of dollars worth
Of orders for general merchandise given
contingent on the success of the sound
money are now being filled. Owing TO
the lateness Of the season few have re-
gardcd the outlook as promising much In
the nature % a boom during the current
year. At q few northwestern commercial
centres large orders have been received
from country merchants within a few
days and in Georgia. farmers have met
their obligations this autumn more
promptly than for years past, and South
ern merchants and manufacturers are
reported looking ahead confidently 10
marked improvement in business in the
near future.
Bank clcarncs totals continue below
the billion dollar mark. Sa9j.000.0O) for the
past week. an increase of 3 per cent. over
last week. but a decrease Of u per cent
compared with the like total last year
Reactions in quotations are conspicuous
only for Indian corn and lard. while prices
for oats. pork. sugar and petroleum are
firm and practically unchanged. Pig iron
IS twenty-five cents higher with sales Of
considerable amounts in western mar
kets.
Lumber is firm. The tendency s. up
ward, and there is am advance for white
pine. Renewed demand for cotton goods
and placing orders with mills advance
print cloths. Cotton. resin. and turpen-
tine are higher ass Is coffee while wheat
under the stimulus of a strong statistical
position ana 10 an extent the result Of
the election, reports another marked adj
vance.
r. G. DUN & co.
NEW YORK. Nov. 6.-R. q. Dun d co.
viii say tomorrow in their weekly review
of trade: a great revolution has been eff
fected this week in the conditions which
control business. Ii could not be- in any
fair degree reflected as yet i'm transac-
uons or in records. but there Is ample
evidence already that crushing weight
has been lifted and rolled away and the
business world has begun 10 adjust itself
10 q state OF freedom and security which
d. mas not known for years. Dread of
immtasurabl- disaster no longer locks mp
resources and paralyzes enterprise. and
new contracts involving many millions
have become binding since the election.
The instant vanishing of Inc premium on
gold which had reached about per
cent, inc unlocking of many millions
which had been boarded. the collapse of
the interest rate from s and u 90 g and
- IL per cent, and the quick demand for
American securities ON foreign account
are signs Of more lasting promise The
lifting OF the load Of peril and OF fear an
men know. means an lncalculab.e relief
FOR an industry ana trade.
Speculation in cotton was excited on
the theory that mills should now start
up, as many have done and would meet
a, large demand for goods bur the adj
ire fyff las
slight reaction. lr Will he AN the better
for business III bright hope. do not hoist
prices too fast.
The election Immediately stffeued prices
OF pig iron which reached Sl2 az Pitts
burg for BeSsemcr. ana the certainty that
many large orders for buildings and
bridges and other finished forms would
now become operative justifcs some adj
vance. The future officials trade now de-
ponds upon the extent of Increase Of de-
mand for finished products OF iron and
steel. which is likely 10 be materially af-
fectcd by the course pursued by various
combinations The billet pool which i8
still openly undersOld az Pittsburg and
has caused no end Of disturbance I'm busi-
ness by faVOring one class of producers
10 the detriment of another has been in
session here and is said TO have changed
the basis OF allotment so as 20 secure
fairer results. The nail combination D.
now threatened with "a hostile league or
1obbers and producers and is openly un-
dersold. TIE bar combination. notWith-
standing its large rebate. is still demand
ing more than the prices az which steel
bars are sold In great quantities. \
SLIGHT advance IN shccfings and print
cloths Is the only Grange which appears
in the market for cotton goods. and prac-
ticallv no change has yet appeared in
woollons.
Failures FOR the week have been 2a0 IN
the United States. AGAINST 2,0 last year