The morning news., 1897-01-16
BUSINESS CLOUDS BREAKING.
THE STORY OF THE GOOD TINES OF
1879 TO BE REPEATED.


Improvement Seen in the south
Than in Any Other Section of the
Country.
New York, Jan. 15-R. G. Dun & co. will
say tomorrow in their weekly review of
trade THE greatest growth and pros
perity the country had ever seen came
suddenly in 1879 after several months of
disappointmnt because specie resumption
had not yet brought the benefits expected.
At takes time for new confidence to reach
through easier money markets, larger or
ders, resuming mills, expanding employ
ment and larger distribution. to the re-
suits which make still greater and lasting
gain possible. Such gradual and steady
improvement has been in progress for
more than two months. The output Of
pig iron has gained 4l6 per cent. since
Oct. l. The output of coke has increased
SS.7 per cent. since oct. /. Sales of wool
have again become large. Money markets
feel a steady increase in demand for COM
mercial and manufacturing loans. Addi-
tional works have gone into operation each
week in January and the working force is
larger than al any other time for six
months. The gain may be ascribed to the
deliberate judgment of the abiest and
most prudent men in business.
1T is no time of high prices. Many who
are anxious to get an early hold on the
market are making for the moment lower
prices than they could afford to main
tam. With the increase in the output OF
pig iron 10 159720 tons weekly, against
ba &c do
lower at the east and Chicago, but heavy
purchases already advance Bessemer a
shade at PittsDurg. Steel bars have been
reduced and some other finished products
81 per ton, but the demand is on the
whole, steadily growing. The coke out
put has risen from 5l,O00 TO $1,000 eons
weekly and minor metals are a shade
stronger.
IeXtlle manufacturers are not encourage
ed by the demand for their goods though
more print cloths were sold than for many
weeks. Lower prices are expected In
goods and slow buying is not unnatural
since cotton has fallen us per cent. from
sept. II, print cloths per cent, bleached
goods S1a TO 81 and brown goods 212, 5
and per cent.
Though woolen goods don't improve.
there have been purchases by large mills
which cover for two weeks of January
h,LO,SOO pounds the three chief markets,
against 11.sl7,6OO last year
Some large purchases of leather indi-
cate that some shoe manufacturers are
seeing their way to more active work
and shipments from the east in January
thus far are 20 per cent larger than last
year. Hides at Chicago are PA 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 calling for 1000
tons of steel. and a terminal improvement
for the Erie will cost $10OO.O00
The money market has been disturbed
10y a combination of large bankers not to
lend on call below 2 per cent. which in
Nued all sorts of financial institutions to
FAKE the market. causing payment of bank
loans for some millions, and left supplies
of funds so heavy that time loans were
sharply marked down. More was done in
commercial paper, though offerings in
creased but moderately. Receipts from
the interior exceeded the shipments by
$1,500,00O. Exports continue to exceed last
year for the week per cent, while I'M
ports fell 10 per cent. below last years.
Failures for the week have been 455 in
the United States, against 395 last year,
and Il in Canada, against 81 last year"
New York, Jan. 15.-Bradstreet's to-mor-
row will say; Except at a few southern
merchants throughout the country report
no noticeable change in trade features,
and few indications of Improvement in the
near future. Mercantile collections con-
tinue SLOW Some jobbers at Chicago, St.
Louis, Baltimore and other large cities
report increased demand for dry goods
hats. shoes. hardware and groceries for
spring delivery but that in other lines
business is very dull.
Dealers in STAPLES at cities in Texas.
Louisiana, Georgia, Tennessee and South
Carolina report a better demand for hard
ware and agricultural supplies, compared
with last week. Some Baltimore statesmen
are securing relatively fair orders There
has been no revival in textile circles, ex-
cept increased purchases of wool at Bos-
ton by some of the larger manufacturers
Cotton goods continue depressed at first
hands, with little prospect for improve
ment until after production has been re-
stricted
December gross railway earnings are
relatively more favorable than those in
preceding months, showing a decrease
of 10 per cent. from December, 1895. The
best December reports were by south
western and southern roads, which show
gains over December totals in 1895.
'Bradstreets comparison of prices of
Jos staple articles and products at quar-
shows an upward tendency on the part of
quotations during the last quarter of 1896
Advances during the last quarter of 1896
were conspicuous among most of the
leading cereals, for live stock meats. dali
ry products some vegetables, hides. leath-
er, woods, various grades of iron copper.
lead, brick. glass and spruce lumber.
prices this week show advances for
leather, pork, lard. petroleum and cot
ton, while decreases are reported in the
prices of hides, wheat, corn, coffee. pig
iron and steel bnlets.
Heavy stocks continue to depress cot
ton goods.
Iron and steel have not met with the
Increased demand expected, while sugar
and coffee prices have been affected by
competition among leading dealers.
There have been AIS business failures
in the United States this week, compared
with 4SS last week. 412 in the second week
of January. 1896; 37S In the like week of
1895. and 4O4 in the corresponding period
of 1894"
FATAL WRECK or A FREIGHT.