The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-02-28
Business Improvement Not
Like Breaking of Dam.
INDUSTRIES ARE GAINING
WHEAT ENJOYED BRIEF RISE
BUT CLOSED rs OFF.
Sa5, 100000 IN CIRCULATION
The Contracts for Steel Rails Taken
Since the Break in Prices Together
With Expenditures for Laying
Means this Much.


New York, Feb &C. G.. Dun & Cos
weekly review OF the trade tomorrow will
say:
Genuine improvement in business does
not come with q rush, like the breaking
of a great dam. The growth for some
weeks past has been more encouraging,
because in nearly all lines it has been
gradual and moderate. The rupture OF
the steel rail and other combinations In
the iron business has brought out vast
quantity of trade which had been held
back and has set many thousand men
at work, while the slow but steady gam
in other great industries has given en-
pIoyment to many thousands more, but
the full effects will not appear until the
increased purchases by all swell the
redistribution of goods. Meanwhile it is
substantial ground for confidence that
months which were regarded by many
in the money market with serious appre-
tensions have passed without disturbance
and with steady gain in the position of
the country and of the Treasury.
With less rapidity, but yet steadily,
Industries are gaining Although brown
and print cloths sixteenth lower, it is
found that several cotton mills have start
ed, not covered by the restriction as TO
print cloth works, which is carried out.
Increasing demand has also started quite
a number of wooden mills, including many
making dress goods and hosiery. The
demand for mems woolenS is somewhat
better, especially for heavy weights, and
there are improving sales of better quail
fties. Sales of wool have been 3S,317, 200
pounds in four weeks, against 22,366, 800
I'm the largest previous year, 1892, and the
great establishments are believed to have
supplied their possible wants for some
months ahead, a single purchase OF 1,30O,-
600 pounds, South American cross-bred
being the most important noted this week.
Wheat enjoyed brief rise then drop
ped over 3 cents, and closed 2bsc lower
for the week. While Western receipts
are 40 per cent. smaller than last year
for the past four weeks, Atlantic exports
-four included. IN the same weeks have
been 6,340,415 bushels, against 7,O43,57I
last year, and the exports of corn have
been S.435, $50 bushels, against 4,195.2S
last year. The increase in corn more
than makes up in foreign consumption for
the decrease in wheat Cotton rose 3-16,
though without material change in move
ment. Better reports of manufacturing
in England and starting of some mills
here give hope of better demand.
BRADSTREETS REVIEW.
New York, Feb. -Bradstreet's to-
morrow will say:
The placing of orders for nearly L.
10000 tons Of steel rails within the past
three weeks is the most important infu-
ence for Improvement in general trade
since the November election. The con-
tracts for steel rails taken since the
break in prices, together with expendi-
fures necessary to lay the rails, means
the placing in circulation of no less than
$35. 100000 Many wooden mills in New
England have started up. Manufacture
ens are buying in expectation of duty
being placed on raw wool. Recent inn
provement in cotton goods is maintained.
At most cities there has been no change
in the volume or temper of trade. De
mand has been quiet. and while expec-
tations favor Improvement, progress thus
far has been somewhat disappointing.
The most m S,ked gains are at Chicago
and st. Louis. where visiting merchants
have made relatively heavy purchases
of dry goods. clothing and groceries.
Jobhers at Cleveland Cincinnati, Mil
Waukee and Louisville in some instances
regard the outlook as more favorable.
Unfavorable weather on the South At
1antic coast and at the Northwest has
interrupted business. and reports from
eGalveston and Nashville are that the
movement of merchandise has been dis
appointing.
There are 25S business failures re-
ported throughout the United States this
week. compared with 325 last week, 271
in the week one year ago. 234 in the
last week Of February. 1895, 272 in the
corresponding week in 1894, and as con-
trasted with PIT in the like week of
1893