The times. [volume] (Richmond, Va.) 1890-1903, 1897-02-20
IMPROVEMENT IN TRADE.
4 DfCfDEDLY HEaLTHY TONE
NOTED FOR the WEEK,
Iron and Steel Products, Wool, Sugar.
Corn. Pork and Lard share in
the Upward Movement.


fer Bessemer pig iron. steel bilets. steel
rails some grades OF wool, raw sugar
indian corn. pork and lard, and for print
cloths with an upward tendency for
leatner. together with a number of metal
ana textile Industrial establishments.
which reopened w'thin the week. and az
Improvement IN recent railway earnings
me demand for rails since the break
I IN quotations has resulted In sales G.;
nearly one million tons. OF which lU0.Ot
tonS are Tor export. NOt the least sig
hiHcaNl outcome IS The demonstration Oi
the ability OF American steel makers to
Sucrrt siuiy compete in the markets @.
tHt "ofll. There Is IL better demand for
oiy sOOls. clothing, shoes. paint, lumber
oud architectural iron, but material lu-
oIedsea Ia request for general merchan-
use arc more conspicuous at Chicago,
~ Louis and New Ork than elsewhere.
The holiday ON February lZth, while not
general. had an Influence OF transactions
al New YORK, Chicago. Boston. and Phil
adelphia, and bank clearings fer six bust
ness days, ending with February 18th.
amount 10 only ss92.0l4.UQ0, a decrease OF
90 per cent. compared with last week,
ana nearly lJ per cent compared with the
tnird week Of February, 1886
RAILWAY EARNINGS
Inc tendency OF current gross railway
earnings is 10 increase, and a majority
OK reports OF railroad earnings for the
second week Of February show Increases.
Gross and LET earnings for the year lsg6
are In sharp contrast with those COR
1870. While promising well. the depressed
trade ana political excitement had an I'M
favorable influence. But 10 is encOurag-
ing 90 note that decreases from Corre-
spending totals I'M 1895, year Of cxcep-
ticnaly favorable railway earnings. are
small oOih gross and net. Total gross
earnings or l42 companies which include
~ per cent. or our railroad earning ca
pacity. aggregated Ss55. e3i.2i last year.
"A decrease or oue-nftA Of ! per cent. from
the total iu 1895. while total net earnings
S-ss.sly 00i-sAowed d similar falling on Of
T. per cent. The Southwestern. Southern
and Pacific groups OF roads report in-
crcases. both gross and net. as compared
with 1885, Heaviest decreases are by CEN
tral western trunk lines and Granger
groups.
Total business failures throughout the
country have increased. numbering -
this week. compared with 5Ol last week
and GO in the third week OF February,
r. C. DUN & co.
r. O. Dun a. Co. will say tomorrow IN
their weekly review OF trade.
4 large increase In the iron ana steer
business, on account OF sales covering
eight ID twelve mCnths production ol
the LARGEST works. I'll better demand Cor
rottons gain which may prove lasting
iu boots and shoes slightly better prices
for wheat. cotton. wool. and iron. ana .
money market well adapted 10 encourage
liberal purchases against future improve
meme in business, have rendered the past
wec6 more hopeful than any other since
early in November. The heavy excess
of merchandise exports over imports in
January. the continuance or exchange
rates showing that Europe Is stll largely
% ON
count. and the prospect that Congress
VIII adjourn without any disturbing ac-
tion. all have their favorable Influence
upon the money market and upon future
undertakings.
In nearly every branch the great iron
and steel mo lftry feels the upward Inn
pulse supplied by purchases Of steel rails.
said to Boz half million tons each from
the Illinois steel Company and from the
Carnegie Company besides some from
other companies in part as low as SO
ton about 10000 10 foreign purchasers
40 Sl1 20 SIS. but an recent sales at
$50 az eastern and SCI az western mills.
STEEL RAILS.
Nearly an the great railroads OF the
country have seized the opportunity 10
supply themselves with rails for one or
two Yeas requirements These cn0rm-
tus orders have advanced Bcssemcr pig
~ PlitsDurg only 10 cents per ton, with
Grey Forge shade lower there. and DO
products. although plates ARA urcbauroi
ln price. WITH coed demand ana nails
are held no recent prices
The Tar Association no LONGER cen
troIs anything. and iron bars are quoted
90 Slt5 per 100 pounds. while steel oars
fe quoted 90 81 cents Ue- loo pounds
Structural forms are steady. although
200 mo TO i5O0iu toms are said 90 ba re-
lnircd in Now York alone this gear. ard
q american DO un plat are stli selling ~
- ~ Which is 90 cents less than The price
ior tore sn.
..., II. a...s or woo. nave sharply declined.
amounting 20 1902 a0l pounds for the week
o tlnst 95L|o for The previous week.
Dut owing On the heavy transactions early
.n the month. tho safes fer three weeks
ia,@ pounds last year. The larger mills