The times. [volume] (Richmond, Va.) 1890-1903, 1896-02-01
SIGNS OF IMPROVEMENT.
BUSINESS WAITING, Btf THERE
ARE FACORIBLE JNDIC1TfONs.
The Iron Outlook More Inspirinc-Cotton
Mills Discussing Curtailment
of the Production.

NEW YORK, Jan SL-k u Dun ~
co. Will say Tomorrow In their Weekly
Review OF Trade:
Failures In three weeks of January
show liabilities OF sl7,9Ss,7ii, against Sls'-
SIS. 600 last year; in manufacturing, ~ol'-
~ this year, against Si21.lg3 last year.
in trade, slo3li,5 800. against Ss'loo'-p' last
year. 80 -,
Failures this week have been i0i in the
United states, against 80 last year. an"
40 i'm Canada against 81 last year.
Though business Is still waiting, there
are some signs OF definite Improvement.
IL Is now believed that the hrst pay
ment for bonds viii cause no further
pressure, and the money markets are
easier as respects loans on collateral
though the difficulty OF making CONNER
cial loans still check operations. Buise
maturities at the end of January nave
been more satisfactory. and merchants
and bankers report that the signs PROMISE
a good spring trade.
Domestic trade recorded through clear
ing houses is 6.5 per cent. more thah
year ago.
Signs. in the improvement In the iron
business are more inspiring, even though
they spring from combinations that nave
raised the price OF coke and ore a con-
tract for 5000 tons rails. Pacific dehN-
cry. taken by an easy eastern concern
I'm competition with foreign makers
contract for 5000 pipes for the East JeI-
sey Water Works. contracts Tor 4,vy
tons pipe taken 10y an Alabama hrm' WIN
contracts for the Commercial cable ana
other buildings here, covering a@" tons,
are the main features, but there Is also
4. better demand for wire nails after long
stagnatloD. and also for sheets.
PIC IRON.
Pig iron is rather weak. southern. Is
connecting sharply, and speculative Guy
crs Of some months ago are selllns, ne'o Nv,
..vf.. hlHF
uroducts H. practically unchanged anu
II 1 Der cent. below the highest last year.
Coke production has again 1een CUT
down 1920 tons IN slng.e Wtth' .n
The cotton mills arc discussing curtin
ment of production. as Soou5 col''' -,
weak. with an output Largely eNSte.Ss
df.trihution though the week mas brought
considerable inquiries and q idi -
spring trade Is still hoped Tor. w ooiivn'
are practically unchanged. ...oot,
cotton * a shade lower than week
ago Notwithstanding strong arguments
nv NELL and others, but recelpts Iloin
planters for one at nearly the SAM -
sninners' takings fail behind lasl yea,
and tho marketing or soods uoc9 ~
supDort the brilliant estimates lor con-
SUMPTION this year. Exports Tor Januaiy
have heen 30 per cent. less. spinneis tah-
lngs % per cent. less, ana receipts ioit t
plantations 80 per cent. less Inan - -.
,-ear and receipts have been large, put
sninnors' takings and exports both smali-
ar than i'm 1925 from crop OF h''''v"
bales.
BRADSTREET' >.
Bradstreets tomorrow VIII say. ,....,
Tho features OF the week are continues
retarded demand for merchahdlse az"
checked industrial operations. Lea a. I'm,
isfactcry Is the waiting atttuut Oh s s.},
81 the more important induStrlet SHHor
factories at Philadelphia are shultins
down or running on part uul', 800
goods makers regard tne oI't s, rosction
product unprOmising, there IS a ledCt 10.
ir Tho price of stcel biliets, among Hlp
pig-irOn furnaces IN the fll'9Duis ~
ShenangO districts, fourteen are lulc, an"
Inc position Of wooilcn goods manut &C
urers rs shown by the TACT mat foreign
woOllen goods are relatively most 4ctl,t'
An Indication or the continued snilnh-
age in the volume of business IN bectiy-
Der. and It's eXteusiOn into January. Is
shown bv the prolonged decline m totals
of weekly bank cleariugs, mat TOT tHia
week tsSg1.VOO.uOOl being the smAlit-l
since the last week in NoFemner' ana d."
per cent smaller than one year ago.
General trade az the close OF January
proves disappointing, particularly IN
Central Western. estern, and Nofth-
western States, where the movement o.
merchandise from jObbers has been slo"
and satisfactory Do being only Ialr az
few points.
Relatively most favorable features o.
trade are found in the continued strength
or prices OF lfHNllE NAhIltTt NV iNtA7
ecrvatiVc attitude of wholesale dealers
and. asiue from the Improvement in the
outlook az Pittsburg ana Baltimore, the
actual gain IN demand for stables at
Charleston. Atlanta, Augusta. Chatta-
nooga. Nashville and Memphis.
FLOUR FOR SOUTH AFRICA.
The extraordinarily heavy movement Of
wheat and Indian corn from southern
ports and the neWiy-dcvci0ped South
African demand for flour on the Pacific
coast. remain features an Newport News,
Galveston, New orleans, Tacoma, and
seattle.
The prospective success of the Govern
ment bond issue. the absence Of disturb
ance ia me loan market, and the de-
cline of exchange below the gOld-shlpping
latiCn IN tine New York stock market.
The new Government loan Will. il ia
thought boz ONer-subscrihed. and intend
ing bidders generally seem 10 have com
plrfcd their arrange nvnts. The DISPOSE
ton OF Wall-strccN professionals is 10 dis
manipuIdtive cliques have advanced Vari-
GUS stocks, finding buying support IN
spite OF the hesitation OF the general
public. only SJ0OOOO i'm gold was shipped
this week 90 South America. and sew
eral millions are en- route from London
for use In the bond subscriptions
Business failures throughout tho United
States this week, as reported 90 Brad
streets. show another large increase NOT
as cOntrasted with the total for the fourth
week I'm January, $50 1~g4. and 1886.
The total is 33 last week IL was 347
last year 3l2. and 1854 $40. ia lSg3 gII
and in lsJ2 it was 30.
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