The times. [volume] (Richmond, Va.) 1890-1903, 1896-04-04
SLIGHT BUSINESS BOOM.
THE USUAL SPRING IMPROVEMENI
rs BEGINNING 10 BE FELT,
Though in Some Branches 1t IL Scarcely
Visible-Good Influence of the Steel
Combinat IN Commercial Failures.

NEW YORK, April 3.-R. q. Dun &
Co. will say tomorrow in their weekly
review OF trade
Tho regular quarterly statement OF
failures shows 403l, with liabilities OF
81. 49,. 1875, against S.so2 last year. with
liabilities Of S47 .sl3, GS3.
The Improvement cxpected with spring
weather begins, though in some branches
of business II is scarcely visible. As
consumers make spring purchases they
must lessen stocks and compel buying.
The stocks taken In advance of con-
sumcrs' demands last summer have been
distributed more slowly than was eX-
pected. but months Of waiting have help
cd 10 lessen the load, which. II Is hoped,
spring buying viii clear away. me
backward season has been hindrance,
ana the number Of hands unemployed
i'm important industries and the low
prices OF farm products. Apprehensions
Of foreign or financial difficulties nave
hindered. but are now scarcely felt Eold
exports are rumored. but at TINS season
are so far natural that they have no
such power to cause alarm as they had
in the winter.
4
The gigantic steel combination Is eX-
pected To have great influence In sus-
tanning markets and stimulating conf
dence and though such operations often
miss the success they seek. they rarely
fail to kindle speculative buying for a
time The sudden advance I'm -.hets a
week ago has raised Bessemer pig II
at Pittsburg and the demand for Struc-
tural forms Increases I'm expectation
that prices will rise. Nail associations
have given notice Of another advance
OF 15c. at the end Of this month. Bars
have been demoralized. but some makers
now hope TO rc-establsh the combination
as steel bars will become dearer But
No. foundry is slightly lower at Phila-
delphia. and the general demand for
finished products does not yet improve.
The steel concerns propose TO restrict
production by allotment. those producing
more than their share paying 81 per ION
10 those who produce less.
Less announcement appears In the
boot and shoe trade. as buyers hesltin -
though leather is still firmly held. ne
woollen manufacture does not gam III
orders. and a large part of the machinery
is stopped. Prices Of wool have iahe''
~ per cent. the average OF 100 quota
tions being 1862 cent. Cottoh HAIS
still pile mp goods in advance OF orders,
as reductions in prices nave iaileu do
yet 10 stimulate buying.
Speculation In product has been tame
Cottor continues to come forward so
largely that former predictions OF 6'Jp-
600 bales are remembered with derision'
and tho outlook for the next crop con-
tnues good.
BRADsTREET's REPORT.
NEW Work. April 3.-Bradstreets to-
morrow will say.
stormy weather at the Northwest. con-
timed restriction Of distribution Of staple
merchandise. and unsatisfactory meIchn-
tue collections. continue to be the lea1-
ing characteristics of generaN trade. Inc
conspicuous change is in the steel and IRON
markets. and the formation OF a pool oil
manufacturers of steel TO regulate pro
d,iction and maintain prices resulted III
an advance of So per ton IN quotauoll'
for steel billets and Sl.23 per ton IoI
Bessemer pig iron. A corItSPoHui"s
stimulus is given quotations LOT V.nSi
forms Of iron and steel. heIea9 le"u
ing metal markets were dull and depiess-
cd a week ago. activity is now reported
Win a prospect for further advances
rbis must naturally tend to stimulate
kindred Industries. The movement
in steel and iron markets dnring the
next few weeks will attract an unusual
share Of attention.
additional favorable features are re-
norris that at Baltimore the quarter
general trade has been the best lot
wears. that there has been sisht IN
crease in the volume of business at rus
h,,r,,. that al Kansas City distribution
Of general merchandise Is ialI, anu lnat
the demand for dress woollens for autumn
delivery has been sufficient 10 stimulate
ranufacturers 10 buy raw material more
freely.
COMMERCIAL FAILURES.
Tho FIRST quarter Of 1896 presents the
largest list OF actual commercial ana N.
dustrial failures I'm business in the United
states. these in which liabilities exceed
assets ever reported for like period.
The tota; Gncludng financial institu-
.ious1 Is 4.512. or 700 more than IN Ike
,5;rtion of 1896 The largest preceding
iil,e total 1850 was reported IN le''.
The liabilities 81 those falling this year
amount 10 SCI. $1,000. an increase oil ~
per cent. as compared with a year uso,
In addition to advances TOT IRON aH'
steel products, thereof, wheat ihulan
oorr and GRADUATED sugar are higher
maintaining the tendency oi wen a.
Wheat hour. cotton. wool, print cloih'
and rye are substantially unchanged nut
oats harley. pork, lard. butter ana
chaese. are all lower. as IL coffee. ne
r,ovement of dry goods from jobbers'
bands has not improved. Wool IS duli
and depressed. and some mems wear mills
in New England and in Pennsylvania
have closed. ...,
March bank clearings are in contrast
- those of February when the total was
d. ner cent. larger than the corresponding
toral one year ago. The March aggre-
gate is 81. los. 900. only l per cent. more
man the total for February an increase
over the March total a year ago OF Only