The times. [volume] (Richmond, Va.) 1890-1903, 1897-02-27
WEEKLY TRADE RELIEW
ORDERS PLACED ron NEARLY 500.
900 TONS OF STEEL.
No Less Than $50, OOO, 900 VIII BE Put In
Circulation by Reason of Orders Given
Since the Collapse of the Pool.

NEW YORK. Feb. 26.-Bradstreets to-
| morrow will say:
The placing of orders for nearly 1900
| coo tons OF steel within the past three
weeks is the most important influence
| for Improvement I'm general trade since
/ the November election. \ good share Of
these orders is for blooms and billets, and
| inasmuch as the bulk of them are placed
with the more modern among the larger
| steel mills. the latter find themselves well
supplied with work for months TO come.
! The Bessemer pig iron and steel billet
markets have been duly Influenced and
| drm with moderate advances on heavy
| Gales The contracts for steel rails taken
since the break in the price together with
| expenditure necessary 10 lay the rails.
means the placing In circulation of no less
| than s3jG00.00O The meaning of sales of
rails for export has been exaggerated as
some orders placed abroad were due TO
| English mills temporarily engaged on
| other forms. Of steel. The rush for rails
appears TO be about over. and the outlook
! is for higher prices. Consumption Of
! Bessemer pig iron is I'm excess of produce
| ton and wire and wire-nail mills are run
ming fun time.
WOOLLEN MILLS.
/ Many wooden mills In New England
! have started up. Manufacturers are
buying i'm expectation of a duty being
/ placed on raw wool Recent improve
ment i'm cotton goods IS maintained.
AT most cities there has been no change
IN the volume OF temper OF trade De-
mand has been quiet. and while expecta-
| tions favor an early Improvement. pro-
| gress thus far has been somewhat dis
appointing. The most marked gains are
at Chicago and St Louis. where visiting
merchants have made relatively heavy
purchases OF dry goods. clothing and
groceries JObbers at Cleveland, Cincin-
natl. Milwaukee and Louisville I'm some
instances regard the outlook as more un-
favorable Cnfavorable weather on the
South Atlantic coast and at the northwest
has interrupted business and reports from
Galveston and Nashville are that the
movement of merchandise has been dis
/ appointing.
The weeks volume Of clearings is SlN3-
420.O55 twelve per cent less than last
week but n per cent. less than i'm the
like week one year ago.
FAVORABLE PRICES.
The price movement is more favorable,
with advances FOR hides and in some in
stances for shoes. for Bessemer pig iron.
steel billets cotton. Indian corn, oats.
cheese and turpentine Leather remains
firm at the recent advance. and lumber,
Southern pig iron. bar iron steel rails.
rosin rice wheat -four. sugar and coffee
are practically unchanged.
There are 25S business failures reported
throughout the United States. compared
with 32J last week and 2d In the week
one year ago.
r. e.. Dun y Co.
NEW YORK. Feb pr. q. Dun * Co..
will say tomorrow i'm their weekly review
of trade.
Genuine Improvement iu business does
not come with 70 rush. like the breaking
of IL great dam. The growth for some
weeks past has been more encouraging.
because i'm nearly AN 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 gain Ia
/ other great industries has given employ
ment 10 many thousand more. but the full
effects will not appear until the increased
purchases by all these swell the distribu-
tiou of goods. This comes more slowly
and later. but is already apparent. Ger
tainty regarding the future will help IL
nightly and les by muititudes expected
with strong hope. Meanwhile 10 is sub
stantial ground for confidence that months
which were regarded by many in the
money market with serious apprehension
have passed without disturbance, and
with steady gain I'm the position of The
country and OF the Treasury.
IL was not 10 Dee expected that the es-
cess OF exports over imports would COM
tinue as large in January as IL had been
in other months and yet IL was surpris-
iugly large. The February returns have
naturally been less favorable. as cotton eN-
ports fall OFF at this season. and yet the
decrease compared with last year is trih-
ing while the increase in imports, TO he
expected AT this season. has amounted
during the past three weeks TO only 500.
go compared with last year or about
per cent. Nothing in the state of foreign
exchanges indicates that the heavy crcd-
its in favor of this country have been
liquidated or seriously diminished.
INDUSTRIES YOUNG.
Iron bars are unchanged but orders
for 900 cars by one railway. with nu-
merOus others. increase the demand, ana
plates are required for two great elevators
az Chicago Important contracts for eX-
port continue. and American makers un-
derseI foreign 90 tim plates by 20 cents.
and are selling cotton ties below - cents.
for which Sl.1O was charged by importers
"a
with less rapidity but yet steadily.
other industries are gaining. Although
brown courtyard sheetines are an eighth
lower. and print cloths a sixteenth lower.
70 is found that several cotton mills are
started. not covered by the restrictions
as TO print cloth works. which is carried
out. Increasing demand has also started
quite a number of wool'eR mills. including
many making dress goods and hos. rs.
The demand for mems woolicns is also
somewhat better especially for heavy
weights. and there are improving sales Of
better qualities
In boots and shoes also. growing belief
that prices viii not give way. has started
many more shops a.though@uany ioDbers
stil shrink from the prices t. sked.
Failures for the week have been 296 in
the United States. against rs iast year,
and 30 I'm Canada. against IS last year
TUT EEPTEIIrIN PLITFORU