Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-01-16
THE BUSINESS SITUATION.
"GraduaI and steady Improvement
for Two Months,- Says Dun.

NEW YORK, January 15.-Bradstreets
tomorrow will say: Except at few
southern cities. as reported last week,
wholesale merchants throughout the
country report no noticeable change In
trade relations, and few indications OF
Improvement i'm the near future. Mercan-
tile collections continue slow. Some JOB
bers at Chicago St Louis. Baltimore
and other large cities report increased
demand for dry goods, hats, shoes, hard
ware and groceries for spring delivery
but that in other lines business is very
duh. Dealers In staples at cities III Iexas'
Louisiana, Georgia, Tennessee, ana South
Carolina report a better demand Tor hard-
ware and agricultural supplies compared
with last week Some Baltimore sales
men are securing relatively fair orders.
There has been no revival in textile cir
cles. except purchases of wool at Boston
by some of the larger manufacturers. Cot
ton goods continue depressed at nrst
hands. with little prospect for improve
ment until after production has been re-
stricted.
The December gross railway earnings
are relatively more favorable than those
in preceding months, showing decrease
of is per cent from December, 1888. Inc
best December reports were by South
western and Southern roads, which snow
gains over the December totals In 1888.
Bradstreet's comparison of prices of Jos
staple articles and products at quarterly
intervals for a series or years shows an
upward tendency on the part of quota
tions during the last quarter of 1886 Ad-
vances during the last quarter of 1896
were conspicuous among most of the lead
ing cereals, and in livestock, meats
dairy products, some vegetables, hides,
leather. wools, various grades or iron,
copper. lead, brick, and glass, and spruce
lumber.
Prices this week show advances for
eather. pork, lard, petroleum, and cotton,
while decreases are reported in the prices
of hides. wheat. corn. coffee, pig-iron, and
steel billets. Heavy stocks continue 10
depress cotton goods. Iron and steel
have not met with the increased demand
expected, while sugar and coffee prices
have been affected by competition among
leading dealers
There have been 47S business failures
I'm the United States this week, compared
with 4SS last week, AZ In the second week
of January, 1896, 37S in the like week OF
1895. and 4O4 in the corresponding period
OF 1894.
Nessrs. r. G. Dun & Co. will say in
their weekly review of trade The great
est growth and prosperity the country
had ever seen came suddenly in 1879, al
ter several months of disappointment, be-
cause specie resumption had not theh
brought the benefits expected. 1t takes
times for new confidence to reach through
easier money markets, larger orders, re-
suming mills. expanding employment, ana
a larger distribution, TO the results when
make still greater and lasting gain possi-
BILE. Such gradual and steady improve
ment has been in progress for more thaii
two months. The output OF pig-iron mas
gained 4l.6 per cent. since October ISL
The output Of coke has increased S.I per
cent. since October 1st. The sales OF WOOL
have become large. The money markets
feel a steady increase In demand Tor COM
merciaI and manufacturing loans. Addi-
tionaI works have gone into operation
each week i'm January, and the WORKING
force is larger than at any other time tof
six months. Theeain may be aScriDed 10
the deliberate Judgment OF the abiest ana
most prudent men In business.
II IS no time Of high prices. Many VINO
are anxious 10 get early hold on the mar
ket are making for the moment lower
nrices than they could AFFORD TO maintain.
with the increase in output OF plg-iron 10
l59 720 tons weekly. against 1919 last
month. the price is a shade lower at The
East and Chicago. but heavy purchases
already advance Bessemer a shade at
pittsburg. Steel bars have been reduced
IN | cent. and some other finished pro-
ducts 81 per ton, but the demand Is, on
the whole. growing steadily. The. coke
output has risen from 5000 &c 1892 tons
weekly and minor metals are a shade
stronger.
Textile manufactures are not encour'
aged by the demand for goods. though
more print-cloths were sold than for
many weeks Lower prices are expected
IN goods. and slow buying Is not un-
natural. since cotton has fallen ils peI
cent. from September 1lth. print-cioths
ner cent. bleached goods l-2 10 . IL, ana
brown goods 2 IL, 3, and per cent
Though woolen goods do not improve
there have been purchases by large mills
which cover for two weeks OF January
n llO. 800 pounds at the three chief mar
kets. against l1.Sl7,6O0 last year some
large purchases OF leather indicate tna'
some shoe manufacturers are seeing theii
wav 10 more active WORK, ana shipments
from the East I'm January thus far are =
ner cent. larger than last year. Hides al
Chicago are 2i-2 per cent. lower Ih'
pennsvlyania and some other roads have
commenced to buy rails. and several cost
lv improvements have been ordered, tns
Columbia bridge alone calling Tor res
Tons of steel. and terminal improve
ment for the Erie will cost $l.o00p.
n