Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-03-06
BRADsTREET AND DUN.
Continued Slow and Gradual I'M
provement in Business.

NEW 1OiNh, MdICn O.-BIduSlItel
tomorrow will say: The new admins
tration, the certainly of an extra ses-
sion of Congress within a fortnight, and
the promise Of a new tariff at an early
day, which shall provide adequate reve-
nue. and protection, have done much to
stimulate a better feeling in trade circles,
and Increase confidence in the near APP
proach Of an Improvement in business.
The total clearings of seventy-four
cities for February aggregated 1868 7l6-
2G-a decrease of IFS per cent. from
the January total. and 1O.2 per cent from
that for February year ago. General
trade has been interfered with by rain,
high water in the Ohio Valley, and snow
IN the northwestern spring-wheat States.
South Atlantic and Gulf cities have had
some better weather, with the merchan-
disc movement equal to expectations. At
Chicago and st. Louis there has been a
market increase in the volume of pur-
chases from jobbers, both by interior mer-
chants in person and by mail orders yet
IT is probable that the total trade at
neither city equals that at a correspond
ing period a year ago.
The stock market was raided by the
bears. on the antitrust feature of the
Presidents inaugural address. London
has been weak, and has sold stocks for
the past two days on the unfavorable
eastern political outlook. The Coal
stocks have been weak on the publica-
tons unfayorable to the Jersey Central
Company. In spite of its irregularity.
however, the market has a very strong
tone. the sustaining feature being the
refunding plan, announced by the Lake
Shore company. in conjunction with a
bankers syndicate
There were 262 business failures
throughout the United States this week,
compared with 25S last week, and go in
the same week a year ago
Messrs. r. G.. Dur & Co. will say to-
morrow. in their weekly review of trade:
The slow and gradual Improvement OBJ
served for some time has continued du-
ring the past week, and without material
check. There is a better demand for
most products. on the whole. with a con-
tinuance Of speculative buying in some.
notably in WOOL because of expected du-
ties. Meanwhile. the money markets
continue az easy and undisturbed as IL
there had never been anxiety about the
gold reserve. and fairly large sales OF
stocks on London account during the
week, possibly because of international
an1ieties, have made no perceptible diff
ference in American markets
Cotton has declined an eighth. and with
good reason; for although receipts from
the plantations fall off, the decrease is
not greater than the decrease in con-
sumption, owing to stoppage of mills.
AS there Is comparatively little cotton
available in the country. the market is
very convenient one for spectators to
manipulate.
While many of the mills have stopped
production Of cotton goods for a time.
the general outlook is. on the whole. UNI
changed. and the demand for goods does
not improve. while print-cloths are
shade lower The demand for wool has
diminished, though only little. and sales
are quite a third more than the full bon
sumption of all the mills, If all were at
work; but the speculative buying con-
tinues Although some more mills have
gone into operation. the course of the
market has not favored great activity
but 1t may be said that for goods Of the
higher grades there is a better demand
than heretofore
The boot-andshoe industry can reckon
n good many more shops at work and
shipments have been as large for the
past four weeks as in any previous year
The market for materials has not
changed to any important extent.
While the demand for Bessemer pig
has sustained the recent advance TO
s075 per ton, at Pittsburg. and grey
forge is still quoted at $40 there. and
there is also less cutting of prices to
get more business i'm finished products,
the general range of prices still con-
tnues very low. Wire nails have been
advanced by very heavy buying, to $40
per keg, without change in cut-nails.
which are dun, and there is less evil
dence of eastern mills selling rails be-
low $50. except for export, some sales Of
that character having been made at SlS.
Western makers are said to be firm at
S21 per ton. But the demands of the
most important railways have been sup
piled for the present: the consumers or
! billets are not i'm the market just now,
and, with a somewhat larger production
of pig-ron, 1t may be doubted whether.
outside of rails. the demand for finished
products equals the capacity of the
works.
The failures for the week have been
94e In the United states, against 2S last
year. and 50 in Canada, against cS last
year.