The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-02-12
IN THE MARTS OF TRADE
REPORTS MORE FAVORABLE THAN
FOR SOME TIME FAST.

collapse of the Steel Rail Pool Looked
Upon to Help That Industry-Reviyed
interest In Shoes and clearinghouse
p ment in Prices on the Whole Favorable
Railroad Earnings Very Unsatisfactory.
New York, Feb. 11.-Bradstreets on
Saturday will say:
The more favorable features of the
business week include sales of 100000
tons of steel rails on the collapse of the
pool. which promises work for the mills
Tor months to come; the advance in the
prices of print cloths, following the sale
of 100000 pieces from accumulated
stocks, and the starting up of a num-
Der of important metal and other in
dustrial establishments throughout the
eastern and middle states
The recent reduction in the price of
steel billets, of IS a ton, while rails
We're reduced only So, foreshadowed
another cut in rail prices, or the break
ing up Of the pool. The latter finds
prices from IS to SO lower than last
week. One effect will be to stimulate
exports of rails, demand for domestic
Bessemer pig iron and for ore, and con-
sumption of iron and steel generally.
There is a moderate increase in de-
mand for pig iron at Pittsburg, and,
purchases have been made by st. Louis
stove makers. Considerable activity is
reported in hemlock leather, for which
the price is higher and American pur-
ehases of wool at the late London sale
amount to $4,000 bales, the heaviest to-
tai at one such sale since the specula-
tive buying there by Americans prior
to the going into effect of the Mckinley
tariff.
Memphis reports revived interest in
shoes and clothing, and Birmingham
and Jacksonville moderate increase
in the volume of trade as spring APP
proaches louisville collections have
improved, and orders for spring goods
at st. Louis have Increased. Chicago
dry goods jobbers report only a mod
( crate gain, but at st. Louis sales of dry
goods, shoes, groceries, hardware drugs
and millinery are the most encouraging
for any week thus far this year. At
most other, among more important,
western and central western cities,
trade remains quiet and unchanged,
with little prospect for an early, Inn
provement. Omaha reports business
dull, and at Galveston, where distrib-
ution of merchandise has been fairly
active, the reverse Is now true. Trade
is dull and unsatisfactory at Cleveland,
and Charleston advises that collections
are falling behind.
The movement of prices u.s. on the
whole, favorable, gains, in addition to
those for print cloths, leather and Bes-
semer pig iron, being reported for tur-
pentine, lead, zinc and sugar. Firm
and unchanged prices are announced
for flour, wheat, pork, lard, coffee, Pc
troleum copper and for steel billets,
while in addition to the prices for steel
rails are those for Indian corn and oats
and cotton.
January gross railway earnings re-
fleet the quieter trade. in that month
than in January, 1896, while showing
the effect of reduced grain tonnage and
severe storms in the northwest. Every
group of American roads shows a fall
ing off from January a year ago. In
creases in January are few and small,
the largest being only slightly in ex
cess Of $4,000, while seventeen systems
show decreases in excess Of that
amount. Heaviest decreases from Jan
uary a year ago are reported by the
Pacific and granger groups, while the
smallest losses are by the southwestern
and southern roads. Total earnings of
ia railroad companies for January ag-
gregate $34, 560,S27, a falling off of 6.8
per cent. from a year ago, compared
with a decrease of Is per cent. in De-
cernber from 1895, and 10 per cent in
November from the total in that month
a wear before January earnings in
1896 increased 11.3 per cent. over Janu-
Z airy. 1895.
Exports of wheat, -four included as
wheat, from both coasts, amount to
2.O51. 345 bushels from February 5 to
February 10, inclusive, the week being
one day short, as compared with 2,71S,-
600 bushels in the week year ago. Ex-
ports of Indian corn during the same
period amount to 4,169,274, as compared
with 3,143000 bushels in the week year
ago.
Gross and net returns Of leading rail-
roads for the calendar year 1895 show
a striking similarity as to volume to
those of 1895 Total gross receipts of
seventy companies give total of $685.
95O,409 for 1896, a falling off of only
about $2,000,000, or two-tenths of one
per cent from 1885, while net earnings
aggregate 1926, O2S,742, a decrease of
nine-tenths of one per cent. from the
total in the preceding year. For De-
cember gross earnings fell off per
cent, while net earnings decreased 1.3
epr cent. from those for 1895.
While there is no particular improve
ment in trade at Toronto there is a bet
ter inquiry for goods for spring deliv-
cry. A fair number of orders are be-
ing received by Montreal jobbers, but
for limited amounts. Trade at the in
terror is fairly active, as country roads
are in good condition. AT Halifax bust
ness remains dull and the outlook for
improvement in the near future is not
bright. rt