The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-02-20
Dun's Report.

New York, Feb. 19.-R. G.. Dun & Co.
VIII say tomorrow in their weekly re !
view of trade
\ large Increase IN the iron and steel
BUSINESS, on account Of sales covering
elsht or twelve months product ion of
the largest weeks, n better demand for
Woolen goods and slightly better for cot
tons. q gain which may prove lasting
III boots and shoes, Slightly better prices
lor Wheat. cotton, wool and iron, and a
money market well ADAPTED to encour-
age lDeral purchases against future. i'm
proVcment in business, have rendered
me past week more hopeful than any
other since early IN November The
heaNy excess of merchandise exports
over imports in January, the contin-
uitcc Oh eScnanse rates showing that
Europe Is still largely indebted 10 this
country on current account, and the
prospect that Congress will adjourn
without any disturbing action, all have.
their favorable influence upon the money
market ana upon future undertakings.
IN nearly every branch the great iron
ana steel industry feels the upward i'm
pulse supplied by purchases Of steel
rails, said to be half a million tons each
from the Illinois Steel company and
from the Carnegie company, besides
some from other companies in part as
low rs $l5 PER ton, about 100. .0GO to for
eisn purchasers at SIT to SIS, but all re-
cent sales ri 500 at Eastern and s2l
at Western mills Nearly all the great
railroads of the country have seized the
opportunity to supply themselves with
rails Tor one or two years requirements.
Ihese enormous orders have advanced
BeSSemer pig at Pittsburg only Is cents
per ton. with Grey forge q shade lower
there, and no considerable change ap-
pears In finished products, although
plates are unchanged In price, with good
demand.
The sales Of woods have sharply declln-
ed, amounting to T,409, 500 pounds for the
week, against 9,157,900 for the previous
week, but owing to the heavy transac-
ions early in the month the sales for
three weeks have been 80, 130, 900 pounds
against l316S,700 pounds last year The
larger mills have acquired full supplies
Tor the present and at any advance of
prices they appear ready to drop out OF
the market. The demand for wooden
goods does not seem to have expanded
materially, and no quotable change in
prices has appeared during the week
Inc heavy exports in January, fol-
lowed the unprecedented excess OF eX-
ports over imports OF merchandise in the
four previous months, are largely due TO
the fact that neither the wheat nor the
cotton markets have been materially
controlled by speculation
Figures at this season do not count
for much In cotton, though large sup
plies and diminishing domestic demand
on account Of the partial closing OF
many mills have materially Influenced
the market. Prices have been com
nnratively steady. middling uplands de-
clining to cents, but recovering an
eighth.
The volume Of business IS not accu-
rately reported by Clearing house Ilx-
changes, owing to the extra holiday this
year al some commercial ccnters. But
the daily average appears to be S.4 per
cent. smaller than last year The rail
road earnings begin TO show improve
ment, being OF per cent. larger than
last year for the second week OF Feb
ruary.
Failures for the past week have been
303 in the United States. against $50
last year, and 5S in Canada, against &C
last year.