The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-03-14
Iron and Steel Are as Quiet as In Proceed
Ing Weeks and Less FaVOrahIy Situated.
GENERAL TRADE VERY UNSATISFACTORY
Prices About February the Twenty.
First We're the Lowest Ever rKnown
IN RMS Country The lmprovco
rncut I'm ihc Demand for Cotton
Is BncIt of the Araucc.

)
IN l'"adstrect's report o. February gross
railway earnings Throughout; the caun-
Try. itece:pts of 126 companies last
month were larger, with single cxcep-
tion thaa in any preceding month for
more than three years, The February
total for 1896 being S34.4S4 900. a gain
over that tatal las; year OF nearly II
per cent. The heaviest gains I'm gross
earnings last month are reported by the
Grangers. the PaCitics, and Southern
INES In the order named, with from
- 20 20 per cent. larger totals than in
February last year.
The smallest increase is reported by the
coal reads
The weeks total bank clearlngs. s9i3.-
oVo.eoo' continue their stH-saw movement
without special tendency Contrasted
with week ago. this weeks total Is
per cent. smaller. but s per cen; larger
than in the second week Of March. lSGb
'ieneral trade shows no marked
'nanEeS. Distribution of merchandise Is
most active for dry goods. hardware
SHOES. and millinery. paints. ois and
neary chemicals. but has been unsatis-
factory. JohberS report spring trade Of
waiting character. due to belated retail
trade, ana In many instances less salts
factory which tends to rctard the move
men; of merchandise. The cotton goods
industry is satisfactory with a slack
demand and heavy stock Prints and
SinShnmS are most active. Transactions
III raw Wool are limited. and the nlarka;
Is very dull. Iron and steel are as uuiel
as in preceding weeks and in some re-
spec'S less favorably situated
from all this. the general trade situa-
tiHh throughout the country may be
regarded rs less satisfactory at the mid
die oi March. 1896. than had been anil
eipateu. Even prices OF staples refuses
1 "a = 81, ,lX-n
IN quotations are those for -four. wheat
indian corn. oats. lard, print cloths. steel
ana pig iron. while prices of wool. lea tn
er' coal, pork. and sugar are nominaIlv
unchanged. Coffee is higher bur nor
based upon domestic conditions affec,iny
demand. The Improvement in the actual
demand for cotton al home and ,hro.J
Is back of The advance
Business failures in the United S.o.es
'his week fully maintain the rio of
commercial barraSsnenis reuort.d of
iaie, with total OF go for six business
days ending with March -. comparr1
with 2'O in the preceding week and a6o
Ill the corresponding week one year
ago.
y: the South. Augusta jobbers in shoes
ana ury goods report Sa tisfa ctory spring
safes and Atlanta a larger volume OF
BUSINESS than in the correspondins weel;
last year.
Dun a. fo's View of the Situntion.
Failures for the week have been 300
IN the United States. against 2Gf; las.
year and 60 in Canada, against 30 las.
year.
Large hcpc but little actual business
explains the strength OF some markets
and the weakness Of others Thus far
there is decided Increase in the demand
Tor boots and shoes. secured by cons!d-
cradle concessions in price. but in otner
branches of business concessions are
made in vain or are not made. Mean
while Il is encouraging that one OF the
mos; important business interests has
realized dciinitc Improvement The in
furanCc companies. of which returns are
given III detail this week. shew Il larger
business and larger income han ever be-
l';e, and also Il most remarkable sound
hess Of mortgage loans and of other in
vestments.
As prices about February 2lst were OH
the whole the lowest ever known in this
country. considerable space Is given
this week 10 comparison Of quota lions
in the most inportant branches Of manu-
facturc, which show the extent OF reac-
tion since the rise last fall II Is aspc-
c!ally noteworthy that prices of mate
rlals have varied quite differently from
prices OF manufactured prOdutcs. Thus
cotton is 2I.9 per cent, higher than a
year ago. but cotton goods average only
l0.I per cent. Wool is but SO pei. cent
higher than year ago. but woollen
goods are on the whole about per cent
lower Pig iron j. only |. per cent
higher than year ago. while finished
products Of iron and stcc! average 45 pe,.
cent. higher. Boots and shoes are prac-
tically not higher than Il year ago while
leather has risen il.1 per cent, and hides
at the moment are only % per cent
higher These comparisons are impnr-
tant because they disclose something OF
the grave dislocation of prices which
Inadequate consumption and combina-
tiOns have produced.
Prices Of finished produces in iron are
not quotably lower, though all the mar
ke;s are weak in tone. OF the minor me-
tails copper Is in moderate demand at
ll.l2 cents. and there is more movement
in tin at l3.4 cents. while lead Is slightly
weaker al 3.l5 cents. Tin plates arc
weak in part because OF ligh: demand
Cotton goods sell but slowly. no,w!th-
standinging recent reductions in
prices. and the enormous accu-
mutations of unsold stocks causes
apprehension in manv quarters
In waelenA the demand Is very largely
for lo'~ g'.adc goods. and fierce compe
tit!on affects the prices Of the better
grades materially. In clay worsteds the
manufacture has eeen 30 far overdone