The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-01-16
RFOLK vIRGINIAN: SATURDAY JANUARY 16 1897
;, R, G: Dun & Co. will say tomorrow in

~. VI. Dul ~. VIII say tomorrow In
their weekly review OF trade:
The greatest growth and prosperity
the country had ever seen ca ne suddenly
In 1879. after several months OF dlsap-
pointment, because specie resutnptio ION
hnd not yet Brought the benefits expect
ed. 1t takes time for new confidence to
reach through easier money marke ~,
arger orders, resuming mills: expanding
employment, and Il larger distribution,
TO the results which make still greater
and lasting gain possible Such grad
ual and steady Improvement has been
In progress for more than two months.
The output OF pig iron has gained 4lG
per cent since October Is. The output
of coke has increased SS.S per cent. since
October 1st. Sales Of wool have become
large. Money markets fee! n steady in
crease In demand for commercial and
manufacturing loans. Addit onal works
have gone into operation each week In
January, and the working force Is
larger than at any other time for six
months. The gain may be ascribed to
the deliberate Judgment of the ablest
and most prudent men in business.
1t is no time of high prices. Many who
are anxious to ge, early hold oil the mar
kct are making for the moment lower
prices than they could afford to main
tain. With the increase in output of
pig IRON 20 15g,T20 tons weekly. against
l42,21S last month the price is Il shade
lower at the East and Chicago. but
heavy purchases already advance Besse-
mcr shade at P.ttspurg. Steel bars
have been reduced TO one cent, and some
other finished products, 81 Il ton. but the
demando Is on the whole growing g .eadi-
ly. The coke output has risen from so,
900 10 ?lO,Si2 tons weekly and minor
metas are q shade stronger
Textile manufactures are not encour-
aged by the demand for goods. though
mere 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 lis per
cent. from September IL: print cloths
per cent ,bleached goods. 3ia TO 5i@ and
brown goods 2ia, 2. and 4 pei cent.
Though woollen goods do not improve.
there have been purchases by large mills
which cover for two weeks of Janu-
ary, II, 10000 pounds at the three chief
markets. against ll.St7. 600 last year.
Some large purchases OF lea. her indicate
that some shoe manufacturers are see
ing their way TO more active work, and
shipments from the east in January thus
far are twenty per cent. larger than ast
year. Hides at Chicago are 2k per cent
lower. The Pennsylvania and some other
roads have commenced to buy rails and
several costly improvements have been
ordered the Columbia bridge alone call
ing for 1000 tons of steel and n terminal
Improvement for the Erie Will cost ST.
OO0.OGo. ?. y sgfs 5l>.,ss..s....-ll.
The money market has been disturbed
by n combination OF large bankers not
to lend on call below 2 per cent. which
invited all sorts OF financial institutions
TO take the market. caused payment OF
bank loans for some mill ons and left
supplies OF funds so heavy that the
loans were sharply marked down. More
was done IN commercial paper. though
offerings increased but moderately. Re
ceipts from the interior exceeded ship
ments by Sl.500.000. Exports continue
to exceed last years for the week per
cent, while imports fell ten per cent be-
low last years.
Failures for the week have been $50
in the United States. aga INST 500 last
year, and Il in Canada against 81 last
year