The times. [volume] (Richmond, Va.) 1890-1903, 1897-01-23
CONDITION OF BUSINESS.
IARGER BUrING BECdUsE BETrER
Prices ARE ExPECTED.
Increased Demand for Wool the Most En-
couraglng Feature Of the Week-In-
crease in Iron Manufactures

NEW YORK. Jan. 2.-Bradstreet's to-
morrow. will say:
The most encouraging feature OF the
trade situation this week is the increased
demand fer manufacturers for wool. The
decision Of print cloth manufacturers to
curtai the output will emphasize recent
sales of the heavy surplus and promises
"A better market. To these may be added
the increase I'm the volume of domestic
bank clcarirgs. a general steddiness OIL
prices and the hcalthfulness Of general
trade In almost all departments. Con-
servat.sm in granting credits ana the
preferences by retailers and others 10 BUY
oftener. but In small quantities. continue
10 mark the increase Of business as not
before I'm years. Demand is increasing
IN an almost all lines. with few excep-
items. although very slowly.
IMPROVEMENT EXPECTED.
A radical Improvement in the near
future. based on a slow but healthful IN
crease i'm the consumptive demand, is, ~
the absence of unforeseen obstacles. al
most a certainty Commercial travellers
are reported very generally out ON the
road. yet the volume OF business continues
small and collections i'm many instances
are unsatisfactory The more active de-
mand rs for shoes. hats. groceries. hard
W re-. dry goods ard drugs Yet at SUCH
centres as Chicago and -. Louis at the
west: Baltimore. Phlladelrh ia. New York
end Boston az the East. business con-
tnuas along very conservative lines
Memphis Nashville and Galveston con-
tinue their exceptionally favorable re-
rOrts as 10 demand for staple. Pacihc
coast rorts announce unusually heavy
orders for n crchandise from Alaska and
an improving trade with China and ia
pan.
Total bank clearings aggregate Sloi2.-
ON this week. decrease Of one-halt
II one per cent from last week. but an
Increase Of % over the third week OF
January 1896.
Prices appear 10 include few. n any.
that are higher than "A week ago while
-four wheat corn. lard. crude petroleum.
tin. Possemer pig iron 3nd steel bille's
are lower. Wool remains firm az prac-
ticaly unchanged prices. but rs likely TO
advance If tho present demand continues
Leather is also firm and unchanged, as
are numbers. cotton. print cloths pork.
coffee and sugar
An unusually long list Of business en-
harrassmonts continues feature Of the
state of trade Of this week The total
Tor the past six days business being i29
or 40 less than last week and S mere
than in the week year ago.
II. &. Dun & Co
NEW YORK. Jan. FIR. O. Dun &
GO. will say tomorrow i'm their weekly re-
view:
There is moro business though not at
better prices. It IS i'm that almost an
prices which change ut AN are lower
than week ago. and yet business IS un-
Questionahly larger. There is larger pro
duction, but as yet not rs much increase
in consumption. and there is larger buying
of materials, but at present only because
better prices are expected I'm the future.
4 few conspicuous failures during the
week have had no material influence.
The market for securities is slightly
stronger and yet there is very little do
ing. The number Of hands employed. all
Industries considered is slightly larger
than week ago. without adverse change
in the rate Of wages. All apprehension
of foreign disturbance OF rOncy markets
has passed away. but there L. still
great caution i'm making loans II is a
mistake 10 reckon these as symptoms Of
depression. The contrary in spite Of
lower range Of prices i'm important indus
tries the conditions an Indicate larger
production. and n consumption increas-
ing. not as yet largely. but steadily.
The earnings of railroads in January
have been a. per cent. smaller than last
year Wheat corn. and cotton exports
are the key Of tho financial situation. and
during the past week wheat has declined
Csc. and corn 5-'c., while cotton is UNI
changed.
The woollen industry is MS slow as ever
and no real Improvement appears IN the
demand for goods. although. owing TO
the latonoss Of the season. there is
little more doing. both i'm shipping and IN
winter goods. without quotable change in
prices.
IRON MARKET.
Tho iron industry is engaged i'm settling
relative prices. and the slow operation
retards business in many branches. since
the future Of prices is uncertain. Bes-
semer pig is trle lower al 5000 n
Pitshurg. and gray forge M $40 though
no further decline has occurred I'm East
oru markets or at Chicago. But tho COM
petition OF now concerns tempted TO man
ufacure nails by the high prices recently
maintained. causes slightly lower sales Of
wire nails at Sl3j. and ~ cut nails M
sf25 The Bar Association has been in ses-
sion to consider the reduction OF steel
bars 10 one cent. and I'm large contracts
even lower and the Billet Association HIS
again been called together. tosneet on the
2lfh. although there IS no prospect NJ ITS
REORGANIZATION. and hillets are selling mt
$50 M Pittsburg The increase in man
uflcturing IS perhaps more definitely
shown than IN any other way hy tho pro-
duction of coke which steadily increase
9S7 ovens being IN blast against Sl73
idle. and the weeks output. l00S'6 tons. is
over double the output Of October ist
Failures for the week have been 400 boz
tho United states. against 1913 last year.