Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-02-20

cessfully compete in the markets OF the
world. There Is a better demand Tor
dry-goods, clothing. shoes. paint, lum-
ber, and agricultural iron. but material
increases In the request for general mer-
chandise are more conspicuous at Chi
cago. ST. Louis, and New York than
elsewhere
The holiday on February 18th, while
not general had an influence on trans
actions at New York, Chicago. Boston,
and Philadelphia, and the bank-clear-
ings for the six business days ending
with February 18th, amount TO only $s92,-
Oi4.OOO. a decrease OF 56 per cent, com
pared with last week, and nearly 10 per
cent compared with the third week Of
February. 1886.
The tendency OF current gross railway
earnings is TO Increase and n majority
of the reports of railroad earnings Tor
the second week OF February show In
creases. The gross and net earnings for
the year 1856 are i'm sharp contrast with
those for 1896 While promising weii'
the depressed trade and political excite
ment had an unfavorable influence. But
II Is encouraging TO note that tne ue-
creases from the corresponding to'a,s
In 1895. a year of exceptionally favoraDie
railway earnings. are small, both gross
panies which include 80 per cent. OF
our railroad earning capacity. aggre-
gated S956 S34, ,2n last year, decrease o,
one-hfth one / per cent. from the totai
I'm 1895. while the total net earnings,
S2Ss. .929 OO4 showed a similar falling OH
of 12 Der cent The Southwestern, South-
ern, and Pacific groups OF roaos report
increases. both gross and net, as COM
pared with 1895 The heaviest decreases
are nv the Central Western trunk-iine
and Granger groups.
The total business failures throughout
the country have increased. numbering
S25 this week, compared with SOl last
week. and 276 in the third week or FED
ruary. 1895.
Messrs. r. G. Dun & Co. Will say TO-
morrow. In their weekly review OF trane:
large increase I'm the iron and steel
business. on account of sales covering
e,ght IN twelve months production OF
tho largest works. a better demand for
woollen goods, and a slightly better one
for cottons. a gain which may prove
lasting I'm boots and shoes, slightly bet
ter prices for wheat cotton, wool, ana
iron. and a money market well adapted
10 encourage liberal purchases against
future Improvement I'm business, nave
rendered the past week more hopeful
than any other since early in November
The heavy excess of merchandise exports
over imports in January, the continuance
of exchange rates showing that Europe
Is still largely indebted to this country
on current account and the prospect that
Congress will adjourn without any DIS
turbing action, all have their tavoraDie
influence upon the money market, and
upon future undertakings.
In nearly every branch the great IRON
and steel industry feels the upward I'M
pulse supplied by the purchases OF steel
rails. said to be 100000 tons each from tne
Illinois Steel Company and from the Car
negie Company, besides some from otnef
companies in part as low as Slo ton'
and about 100000 tons to foreign pur-
chasers, at SIT and SIS; but with all re-
cent sales at $50 at eastern and $1l az
weston mills. Nearly all the great rail-
roads of the country have seized the op-
portunity to supply themselves with rams
for one or two years requirements. These
enormous orders have advanced Bes-
semer-pig at Pittsburg only Is cents pei
TON with grey forge a shade lower there
and no considerable change appears II
finished products. although plates are
unchanged in price, with good demand
and nails are held at recent prices. The
Rar Association no longer controls any
thing. and iron bars are quoted at %.@
ner 100 pounds, while steel bars are
quoted at 80 cents per 100 pounds. Struc
| tural forms are steady, although lOO
OOO TO 10000 tons are said to be required
| I'm New York alone this year, and Ameri
can tin-plates are still selling at $50
I which is 70 cents less than the price 10
foreign