The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-09-05
There Is Apparent a Distinct Increase in
Confidence In Business Circles.
DUE TO HEAVY IMPORTAIIOaS OF GOLD
stocks Have Risen Several Points
During the Week nnd Speculation
IN Much More Acknowledgements Are
Very heavy-iron Prices Are on
'hc cAsccnt-Cotton Selling Better.


me Wholesale merchants as To pros
pectS Tor autumb trade i'm seasonablc
GOODS. This extends To some industrial
lines. notably iron and steel Demand
lor shoes from Western pobbcrs is more
active than nj the East and the ,ry
goods trade regard the result or tho am,
non sale OF spring goods at New York
as iairlV satisfactory. Notwithstnnlinr
IL continuation OF high rates for money
WIN restricted discounts and fewer
,,' ,ne lohhs: there Is II better feeling in
financial circles. The most notable in
crease of sales OF seasonable goods has
oeen at chicago. mostly among dry
goods and hardware iobbers ST Louis
hiSo reports Al moderate gain I'm demand
as does st. Paul. where Il State fair has
ittlricted visitors. Baltimore wholpsnlr
Trade is checked by restricted banI,
clenranCes. but is still larger than on,.
wear ago. AT the South relatively ,hc
most active demand is at Charleston.
Hugusta. birmingham, Nashville and
New Orleans.
me movement of prices lies in advances
OF quotations for wheat, higher prices
for iron and steel at Pittsburc and Chi
chGo ana further appreciation i'm quo
ihtiohs Tor cotton on renewed reports of
dnmahe 10 the crop. Petroleum and
leather are also higher
Lower quotations are reportrd for
corn oats. lard. sugar and coffee.
Further damage to the Texas cotton
crop is reported and the outlook for
business in the State Is less attractive
AT Detroit. Cleveland. Cincinnati Mil
vankee. Duluth and Minneapolis there
Is no change from the dullness. and
conservatism which have marked pre-
cecdinr weeks. Trade on the Pacific
coast. except in certain export lines 10
Of small volume.
There are 1886 failures throughout tbo
IN Ilro let,
ms week. lG more than last week. The
lotai one year ago was lSl.
hank ciearinEs show no marked
chanre the total being SS27 900. 900 this
week Tor city's throughout the United
states. n decrease OF 10 per cent for
the like week one year ago.
New York. Sept. 4.--R q. Dun e, On
VIII say tomorrow in their weekly re-
view OF trade:
Failures have been for the week 1871
In the United States. against 1S6 last
wear and 81 in Canada. against 3S last
wear. $50
There is distinct increase of conf
dence due largely TO the continuing and
heaVH imports of gold, which have put
an end TO monetary anxiety. While IL
Goes not yea start more mills and facio-
fleS than are closing for want of work
IL CROPS out IN heavy speculative pur-
chaSes o! pig iron, wool and Some other
materials hY experienced men, who he
lievc that "A revival of business is not
iar oil. and for the first time in nearly
NV" months slight upward turn an
nears in prices of manufactured pro-
Gucts.
The same spirit appears in specula-
non. Stocks rose an average of s2O8
Tor railway and 1891 for trusts. with
considerable covering of shorts.
Wheat had suddenly risen n week ago
but reacted with better crop news until
ln lA..,. Il.
ol cent. making the net decline for
Inc week lSs cents. Western rcceipts
continued larEe-5. los. 7S0 bushels for the
Matchmaking the increase since Julv !
about l2.OO0.000 or 80 per cent Atlantic
exports are also large. flour included
wear. and since July /. 1908, ,551 bushels
-ealnst ll.Sl5654 last year, Il gain of GO
per cent. Gloomy stories find little sup
BORT
Cotton fell to 7.S7 cents, but with
revival of confidence rose TO $50 al
though the prospect is clearly more fav-
ora BILE than some weeks ago. Estimates
are still very wide apart. The New Or
leans Exchange puts the last crop at
hl''. $40 bales. whereas official and un-
Official predictions II year ago were 4O0,-
600 10 100000 bales smaller.
After many weeks of decline. so that
the average of prices for iron and its
products was the lowest since early last
wear. prices have started up shade.
Heavy speculative purchases OF f3esse-
mcr At the West and Of Southern iron
here. the latter mainly by New Workers
at s6.io for No. 2 and $500 for grey
forge have so strengthened the market
that Ressemer at Pittsburg commands
Sll % ana grey forge $3.50. The various
associations have not reduced prices
believing that il would not stimulate de-
mand at present. which is extremely
narrow and as yet shows no improve
mcnt
The starting of some woolen mills,
which have been idle and accommodating
orders for a short run, is still balanced
bv the stopping of others, and the VOL
umc of orders does not increase No
gain as vet appears in demand or prices.
But a marked speculative buying of
wool shows belief that prices will i'm
prove. and sales for the week were
S-377. 500 pounds
ONLY 555.700 were foreign, much over
half the domestic sales being of Texas
and far Western States. at prices rang
ing from z to 6h cents. Cotton goods
are growing stronger, more grades hav-
ing advanced. and though sales are
moderate there are more buyers indi-
eating exhaustion of dealers stocks
The volume of trade indicated by
clearings was for the week 1O.7 per cent.
less than last year. Exports of mer-