The times. [volume] (Richmond, Va.) 1890-1903, 1897-03-27
GROWTH OFCDNFIDENCE
su.IL LOSS CAUSbD BY MANY UN-
FAyORABLE SURPRISES.
Tho CoI,apss of the Iron Orc Cont ination,
Supreme Court Decision, Floods
All Come at Once.

70 will say tomorrow In their weekly re-
view Of trade: 81.
Rarely have markets sustained such
surprises as they have received Of late
with so little loss. Foreign conditions and
London alarms, the collapse Of the iron
ore combination, the destructive floods in
the Mississippi Valley, and the decision
of the Supreme Court against railway as
sociations have been used TO the
utmost but not In even railroad stocks
has the result been Important. With
confidence that better times, and larger
business are coming, men are less dis
uoscd every day to throw away good
investments. and the very fact that prices
of PRODUCTS are low is regarded as a
guarantee against much further decline.
In all industries also. the number OF
mills and shops and hands at work grad
ually increases.
Cotton was helped upward an eighth by
the food. but has lost half the gain, al
though manufacturing is more hopeful.
without change Ia prices, goods were IN
better demand and sales Of 10000 pieces
print cloths result In 4 stronger Tone
IRON ORE POOL.
Ore Pool has been expected ever since the
Carnegie Rockefeller deal and ensues low
prices for ore the coming year, though
perhaps not lower than In 1895. Nesabd
facilities for production have vastly in
creased, and all the great stcel-makins
concerns have secured mines OF their
own. while means OF transportation have
greatly enlarged. With assurance Of
cheap ore, hesitation about various pro-
duets should diminish. and the demand
is steadily increasing. Bars are still de-
nsoralized. and at the lowest point, but
for plates, sheets, wire rods and wire,
and all nails, the demand is growing
larger. The demand for rails continues
enough to strengthen prices although
some speculative purchases are offered be-
low the present prices OF mills. Increase
in coke production appears. and more
is assured by the purchase of works by
the Cambria Company, and. while quota
lions are unchanged. outsiders are offer
ing furnace at Sl.,0 per ton.
WOOL.
Speculation in WOO has recorded larger
sales for four weeks than ever before
46.6OJ.3OO pounds. against 2l.9A516 in the
same weeks of 1892. Much more than half
Is for speculation, as nothing like the ful
capacity Of mills IS employed. Americans
have also bought largely at London, 40 900
bales already, il is said, where the market
Is excited. and had advanced 10 to j. per
cent. With heavy supplies here, these
| large imports, and new wool coming in
May, there may lie found overloaded
dealers. Prices here are still advancing,
and Of many kinds. have risen to cents
during the past month The wool manu-
facture is steadily Increasing, but eau
tiously as it Is too early 10 anticipate
results from changes which may be made
in duties.
Failures for the week have been 29l
I'm the United States. against 259 last
year. and 80 in Canada. against 90 last
year.
BRADSTREET.
NEW YORK, March 26.-Bradstreet's
90 morrow VIII cay:
While the week Is not without favor
able features unfavcrable influences have
been more numerous. Leading money
markets show no improvement. Mer-
camille collections continue slow and the
volume of funds is IN excess Of demands
for discounts. The tendency of invest
monts 10 improve has temporarily dis
appeared under the influence Of the SUI
| preme Court antitrust decision" which
| apparently threatens arrangements for
tie maintenance OF railway rates. as
we'll as railway trades-union activity, so
| far as it may affect Interstate commerce.
The tendency OF prices is downward.
quotations being lower FOR wheat. Indian
corn. oats coffee. cotton and for pig iron
and steel billets on the outlook for lower
/ priced ore Stormy weather high water.
and floods I'm tho Ohio. Mississippi and
! Missouri river valleys and in the country
drained by tributary streams, have in
i To-. Il
STAPLES HIGHER.
The gradual increase in the number OF
industrial unions have resulted in some
advancements being made. Staples which
are higher include wool, raw sugar.
wheat. flour, petroleum. linseod oil. and
turpentine. Prices are unchanged for
! print cloths. refined sugar, lard and pork.
Recent activity in rail works and the
prospect for an increased tarif on i'm
ported woollens causes merchants to pur-
chase American goods more freely. The
movement of cottons Is not up 20 expect
atoms and in some lines is disappointing.
| The most noticeable Improvement in
trade is confined to dry-goods. hardware.
| leather, agricultural Implements and
shoes.
Bank clearines at II cities throughout
the United States are disappointing. the
total being only SSSS 100000 for the week
&C per cent. less than last week and IL
per cent less than in the like week one
year ago. The rate Of commercial NOR
tality continues TO the decline shown in
recent weeks, the total number OF bust
ness failures throughout the United States
being 22l this week compared with 23l
last week and 2i6 in the like week in
1896.