The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-05-23
THE VOLUME is SMALL.
Business Looks Hopeful for improvement as
Soon as Political Matters Are SsttIsi.
THOUSANDS or ORDERS ONLY DEFERRED
The stock Market Refuses TO obey
Orders for Pnnic-w Watching for
the Hight Moment 10 Buy al the
bottoni, Certain That Good Crops
Are betinite Bringing Trade.

are nehntte bringing Trade.
New York. May 22.-R. G. Dun & Co.
WIN say 'so-morrow In their weekly re-
View of trade:
Failures for the week have been 227
In the United States, against 2O7 last
year. and 2S In Canada, against 90 last
year.
There is nothing like reaction in busi-
ness, though THE volume Is small. The
stock market refuses TO obey orders for
a. panic. Manufacturers are not gaining
ON the whole. but very few are losing
Railroad stocks average O shade higher
than week ago, and there Is abundant
evidence that men of money are watch
Ing for the right moment to buy at the
bottom, certain that good cops are def
nite. and political prospects will bring
improvement M tine fall Business looks
hopefully forward for definite improve
ment as soon as political uncertainties
are out of the way
The waiting conditions which remains
to some people nothing better than stag
nation continues. But there Is q differ
ence. Thousands of orders and contracts
are merely deferred because they can be
more safely given little later.
lf TIE output OF pig were always a
reliable barometer of business condi-
furnaces in blast May 1st, according to
the Iron Age, 1sS ,319, against 1S7,45l tons
April lst. would be convincing But the
increase of stocks unsold since January
l,s't has been 243,915 tons. and this. de-
quoted from the output of furnaces.
leaves 2,976,34S tons for four months.
which ls certainly in excess Of tine actual
consumption. because the stocks of the
great steel companies are not included In
the statement.
Since the steel billet pool was formed
these stocks have doubtless increa sed
largely. There is scarcely any improve
ment In the demand for finish ed pro-
ducts. though the Bar Association has
become strong enough to enable makers
OF steel bars to get slightly higher
price. The demand for nails is SO light
that reduction of price is expected
the demand for structural work is less
urgent, but yet orders are encouraging
In number, although new contracts are
for small quantities Bessemer pig is
a shade lower, and the ablest observers
of the iron market notice that there is
glaring inccngruity between pig at
S12.50, billets at s1025 and steel rails I
S2S.
The textile manufacturers are still
waiting. as they have been for months
past. and the extensive curtailment OF
production does not strengthen prices
in the least.
Bradstreet's Opinion of Al fairs
The reactionary tendency in prices,
shrinkage in railroad earnings, the fall
Ing off in bank clearings, and the fact
that the present constitutes the begin
ning OF the between seasons period in
clude the more conspicuous features OF
the general business situation On the
other hand, failures have fallen off
sharply.
The total number of failures through
out the United States this week shows
a. marked falling off from a weekago.
The most favorable report comes
from Kansas City, where the movement
In merchandise continues relatively
quite active. Mercantile collections are
fair, and trade prospects never were
better. Improvement is also noted on
the Pacific coast, due to the weather.
which has rendered crop outlook more
favorable and stimulated purchases in
staple lines. The boot and shoe indus
try is conspicuous in that demand has
revived sufficiently 10 furnish most
factories with orders for some time
ahead and to stimulate quotations for
hides, leather and shoes.
The iron and steel industries report a
moderate increase In orders for raw
material, but not sufficient to strength
Ell prices.
AT the South the most encouraging re-
port comes from Savannah where ex-
cursions of country merchants, farmers
and others have resulted in am in
creased volume of business among
wholesalers. Georgia, South Carolina
and Tennessee truck farmers complain
that want of rain has injured the crops.
Wholesale merchants at Galveston are
not pushing business, and report the
demand unusually light. Practically
unchanged quotations are reported for
pork, coffee and print cloths