The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-01-18
WEEKLY TRADE REVIEW
The Present Situation Is Reported to Be Ex-
ceedlngly PerpIexlng for Business Men.
AN UNCERTAINTY In ALL QUARTERS
f.nck OF Financial Legislative Action
Affects All Brnmci,cS Of Business
ACKNOWLEDGEMENTS hay nof shown
Revival Tendency From tiie
Holiday Depression.


New York, jan. 1I.-R. G. Dun e. Co
will tomorrow say In the weekly review
of trade:
Failures for nine days Of January
have shown liabilities of $566S. .0JS
against $i.522,iS1 last year In ten days,
and @,0il.225 in eleven days of 1894
Failures for the past week have been
much larger In magnitude. numbering
395 In the United States, against 3T3
last year, and 81 in Canada, against 60
last year.
The situation could hardly be more
pcrplcNing for business men Practical
merchants, manufacturers or bankers
can have little sympathy for those who
minimize their difficulties None doubt
that the Government will raise money
10 meet obligations. but how far the
money market Will he disturbed or the
Treasury reserve first diminished, none
can say. The business world cannot
know as yet how far foreign cues
tons may upset calculations, though
there seems every reason TO expect
peaceful settlements.
cannot know what may be the
duties on any important class OF I'M
ports II month hence, whether imports
are likely To exceed exports and draw
away gold. whether the deficit Of rcvc-
nuc Will continue. or what other taxa
tion Will hc levied. Failure OF the Sen
ate thus far to take any ACTION upon
financial measures proposed by the
President. or those passed by the House,
affects unfavolably All branches OF
business. Under such adverse circum-
stances Ii Is actually encouraging thai
shrinkage IN transactions and resulting
c"lnnercial usaa,Crs have mkt hosn
greater. But four large failures within
II day or two indicate that the same
cohdtlon cannot continue without
much embarrassment.
Dome site trade. shown by Clearing
house payments, Is SIS per cent. larger
than last year, but 27.S per cent less
than III 1899. and In nearly all trades
there is much hesitation :,
Cotton receipts stlll Indicate n Weld
hcliher as small as Mr.. Ncill's reiterated
estimate of 6.500000 bales, nor as large
as the T.0O0,000 bales that was made by
others but il is to be seen whether
supplies held for better prices are of
consequences. The price declined an
clShtn Wlth accounts Of narrower de-
iland by spinncrs abroad and declined
prices for goods I'm this country
cotton goods are not quotahly lower
put concessions To secure business are
reported I'm many Instances. and MANY
of the mills have been running In rnnIy
In anticipation Of orders not ye received.
There is little better Inquiry for sta
PIES with Indications that dealers
stocks are running low The opening
oi silhe ana fancy woucnS has brought
no chanSe in price, and rcvisions. caused
bE recent openings of worst eds have
pcsi generally toward lower prices
me pig iron output weekly January
|, was 20T,4Sl tons, Il decrease OF . 3IG
or A." per cent. in December. and un-
Sold stocks Increased gll25 tons. or over
2p.0G0 weekly while the great steel
companies. whose stocks are not re-
norted produced in December. 34a.gSG
TONS The production is so far beyond
the present demand for finished pro-
ducts that the temporary stopnurt. or
many furnaces Is expected Yet pig
iron Is higher Eessemcr :. bout 30 cents
and grey forge and anthra cite - cents.
although finished products are gene
rally weaker. with less demand. Con
iro!lerS of the coke and ore outputs
are said to have agreed to maintain
prices above those of 1895 which means
dsarcr pig iron. but If orders for finish
ed products do not materially increase
the advance in materials can hardly be
maintained.