The times. [volume] (Richmond, Va.) 1890-1903, 1897-01-16
HISTORY GIVES HOPE.
JFIT REPEATS ITSELF PROSPERITY
SHOULD BE NEIR IT HAND.
Conditions Are Favorable Tor Great Growth
and baltimore sales
men Securing Fair Orders.

Company VIII say III NH'H Nt'h'J 80
view of trade:
The greatest growth and prosperity the
country had ever seen came suddenly
in 1879. after several months Of disap-
pointment because specie resumption had
not vet brought the benefits expected.
II takes time for new confidence to reach
through easier money MAJ ets, larger
orders. rcsuming m'lls. expanding en-
,lo, mont and "A larger distribution. to
me results which make still greater
and lasting gain possible. Such gradual
and steady Improvement has been IN
progress for more than two months. The
outuut OF pig iron has gained 4l6 D''
cont since October lst. The output OF
coke has increased ST. per cent. since
October 1st Sales Of wool have become
large. Money markets feel a steady in
crease I'm demand for commercial and
manufacturing loans. Additional works
have gone into operation each week -
January. and the working force Is larger
than al any other time for six months
The gain may be ascribed 10 the deib-
crate Judgment Of the ablest and mast
prudent men in business.
10 is no time OF high prices. Man~
who are anxious 10 get early hold on
the market are making for the moment
lower prices than they could afford TO
maintain. With the Increase in output
of pig-iron TO 59,120 tons weekly, against
1925 last month. the price is "A shade
lower at the East and Chicago but heavy
purchases already advanced Besse-
mer "a shade at Pittshurg. steel bars
have been reduced to one cent. and some
othr nnishd products 81 per ton. but the
Il. q rlf.I.
fly. The coke output has risen from
5000 10 1882 tons weekly. and minor
metals are a shade stronger.
TEXTILE GOODS.
Textile manufacturers are not encour-
aged by the demand for goods. though
more print cloths Were sold than tor
many weeks Lower prices are expected
in goods. and slow buying is not unnat-
urai since cotton has fallen us per cent.
from September llth. print cloths. per
cent. bletchcd goods. Q l-2 20 ID. and
brown goods > IL, 3, and 4 per cent.
Though wOollen goods do not improve
there have been purchases by large mills
which cover for two weeks OF January
lLll0.3gD pounds at tho three chief mar
Icts. against Il.N7.600 last year.
some large purchases of leather iudi-
cate that some shoe manufacturers are
seeing their way TO more active work
and shipments from the East i'm Jaau-
AIRY thus far are 20 per cent. larger
than last year. Hides at Chicago are
IL per cent. lower. The Pennsylvania
and some other roads have commenced
TO buy rails. and several costly improve
ments have been ordered. the Columbia
bridge alone calling for 10l0 tons Of steel
and terminal Improvement for the Erie
viii cost sl,000O00.
Tho money market has been disturbed
10y a combination Of large bankers not
90 lend on call belO w per cent which
invited all sorts OF financial institutions
20 take tho market, caused payment Of
bank loans for some millions and left
supplies OF funds so heavy that the loans
wore sharply marked down. More was
done in commercial paper. though offer
ings increased but moderately Receipts
from the interior exceeded shipmnts by
I.5o0O. Exports continues 10 exceed
last yars' for the week per cent. while
imports fell 10 per cent below last
years
Failures Tor the week have been As
in the United States against sos last
year and Il in Canada against 81 last
year.
NEW YORK. Jan l5.-Bradstreets to-
morrow Will say.
Except 40 "a few Southern cities. ms re-
ported last week Wholesale merchants
throughout the country report no notice
able change in trade relations and few
indications Of Improvement I'm the near
future. Mercantile collections continues
slow. Some iOthors az Chicago. St
Louis. Baltimore and other large cities
report increased demand for dry goods
hats, shoes. hardware and groceries for
spring delivery. lut that in other lines
business is very dun. Dealers i'm staples
at cities in Texas. Louisiana. Georgia.
Tennessee and South Carolina report a
better demand f0r hardware and agricul-
turJl supplies compared with last week
Some Baltimore -llesmcn are securing
relatively fair orders. There has been
no revival m textile circles. except pur-
chases OK wool 40 Boston by some of the
larger manufacturers. Cotton goods
continue depressed az first hands. with
little prospect for Improvement until af-
ter production has been restricted.
RAILWAY EARNINGS.
December gross railway earnings are
relatively more favorable than those iu
preceding months showing q decrease
of 1j per cent. from December. 1895. The
best December reports were by South
western and Southern roads. which show
gains over December totals in 1895.
Bradstroets comparison of prices Of
los staples articles and products at quar-
terly intervals for a. series of years show
an upward tendency on the part Of quota
tiOns during the last quarter OF 1896. Ad-
yances during the last quarter OF 1896
were conspicuous among most of the lead
ing cereals. for 1--we stock. meats. dairy
products. some vegetables hides. leather
woods. various grades of iron. copper
lead. brick. glass and spruce lumber.
Prices this weck show advances FOX