The times. [volume] (Richmond, Va.) 1890-1903, 1896-03-14
RAIL WAY EARNINGSINCREASE
With This Exception the Condition Of
Trade is Unsatisfactory,
PRODUCTION EXCEEDS CON UNpTlCb.
And Prices Have Again Declined-Eyen
the Prices of staples Have Re
fused to Make and Maintain
Advances.

NEW YORK. March lS.-Bradstreets
tomorrow will say:
The only conspIcuously favorable feature
OF the general business situation is found
in Bradstreets report of February gross
railway earnings throughout the country.
The receipts OK 10 companies last month
were larger. with a single exception, than
In any preceding months for more than
three years, the February total, 1896, being
S3i, 3s4, 900 "A gain over the total last year
of nearly u per cent. The heaviest gains
in gross earnings last month are reported
by the Changers, the Pacidcs. and seven
lines in the order named, with from =
To ~ per cent. larger totals than in Febru-
ary last year. The smallest Increase Is
reported b. he coal roads.
The weeks total bank clcarings-S9i3'-
001.DO-continue their see-saw movement
without special tendency. Contrasted Win
a week ago, this week total is II per cent.
smaller. but per cent. larger than Ia
the second week Of March, l@j[
General trade shows no marked changes.
Distribution of merchandise is most ac-
tive for dry-goods, hardware shoes ana
millinery. paints, oils. and heavy chemi-
calls. but has been unsatisfactory Jobhers
report spring t.ade Of "a waiting charac-
ter. due 10 belated snow-storms, ana un-
usually cold weather.
Collections. with few exceptions, are no
better, and In many instances less sats-
factory. which tends 10 retard the move
mcnt OF merchandise. Tile cotton goods
manufacturing industry is unsatisfactory,
with a slack demand and heavy stock
Production has been restricted, and
further shut down is talked OF.
Prints and ginghams are most artiVe.
Transactions In raw wool are limited ana
the market Is very dull. Iron ana steel
arc as quiet as ln preceding weeks ana
in some respects less favorabiy situated.
GENERAL TRADE UNsATISFACfOkf
From an this the general trade situation
throughout the country may be regarded
as less satisfactory at the middle Of March,
1895. than had been anticipated.
Even prices OF staples nave refused 10
make and maintain advances. Among de-
creases I'm quotations are those for hour
wheat. Indian corn, oats, lard, print
cloths. steel, and pig-iron, While prices oi
wool. leather, coal, pork, and sugar are
rominallv unchanged. Coffee is hiSfcf'
but not based upon domestic corhliionS
affecting demand. The Improvement III the
actual demand FOR cotton at home anu
abroad Is back Of its advance. Petroleum
also is higher, as are lead and nails at
western centres. where the demand mas
improved.
business failures in this week IN tne
United States fully maintain the rauo Oh
commercial embarrassments reported OF
late. with a total OF ~ Tor SIX business
davs, ending with March 18th, compared
with 20 I'm the preceding week ana ~
in the corresponding week one year ago.
Al the South, Augusta joDbers III sho'a
and dry-goOds report satisfactory spring
sales. and Atlanta "A larger volume OF
l,,,etness than I'm the corresponding week
i,st year New orleans jobbers regard the
prospect for trade good, with steaay
weather. while at other points particular
ly Texas the trade movement Is moderate
and collections are unsatisfactory.
ACCORDING TO X. g. Dun q co.
Failures for the week have been 800 m
the United States, against % last yee''
and so i'm Canada, against ~ last year.
Waiting is still the rule. Large nope, Dul
little actual business explains the strength
~ some markets and the weakness OF
others Thus far there Is decided H.
crease in the demand for boots and shoes.
secured by considerable concessions II
price, but in other branches OF business
concessions are made in vain or are not
made. Meanwhile, IL is encouraging 10
know that one OF the most important IN
terests has realized definite Improvement.
The insurance companies. OF when re-
turns are given I'm detail this week, show
a larger business and larger income than
ever before, and also a most remarkable
soundness OF mortgage loans and other
investments As prices about February
p were. on the whole. the lowest ever
known In this country. considerable space
is given this week TO comparison OF quo
tations in the most important branches
Of manufacture, which show the extent
% reaction since the rise last fall. IL Is
especially noteworthy that prices OF ma
terils have varied quite differently from
prices OF manufactured products. Thus.
cotton is 20 per cent. higher than year
ago, but cotton, goods average only l0'
per cent. Wool is but 5.3 per cent higher
than a year ago, but woollen goods are on
the whole about per cent lower. Pig
iron is only Il per cent higher than a
year ago. while finished products OF Iron
and steel average ID per cent higher.
Boots and shoes are practically not higher
than a year ago. while leather has risen
lis per cent, nd hides at the moment
are only 20 per IT. higher. These COM
parisons are important. because they dis
close something OF the grave dislocation
OF prices which inadequate consumption
and combinatio have produced.
The output OF plg-iron March ! was