The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1898-01-15
WEEKLY TRADE REVIEW
Business Opens Without Excitement In the
Speculative Market.
RAILROADS HAD A PROSPEROUS YEAR
stocks Hold up weIl-whcnt Mark OF
Curionsiy LnnEuid-Cotson Affect
cd by tho stoppngs of Miiis-Iron
Furnncos Produce Enormously
weIl-whcnt Market

'ApSEL AEuuc AtFRCs
New York, Jan. AR G. Dun & Co.'s
weekly review of trade will say in its
issue tomorrow:
The year has opened with n very sat
isinctory prospect IT Is all the better
That there lis no wild excitement In
the speculative markets, and wlile
stocks advance n little, grain yields
little. The payments through principal
clearing houses Notwithstanding O de-
crease at New York, owing to less ac-
tivity In stocks. are &c per cent larger
than In 1892. and 10.1 per cent lnrger
outside of New York. Earnings of all
railroads in the United States reporting
for December, Si3,36i,279, indicate slb-
Stantillly the same rate OF increase, ex-
ceedinS lust years by 1915 per cent.
and the earning of 1892 for the same
roads by 1.3 per cent. Since 1892 was
on the whole the most prosperous year
thus far, comparisons indicate. not
outstanding the lowest prices ever
known tarat the volume Of business is
larger, and in spite OF some cutting Of
rates, the earning OF railroads are
larger than in the best year of past
history.
The wheat market has been curIouely
lanEu!d, yielding Il OF q cent, although
Atlantic exports amount to 6,O56, 7SS
bushels for the two weeks of january
against a,gSG,3l1 last year, and Pacific
exports for the week have been 1879. GIG
bushels. Western receipts continue SO
heavy that with the greatest accumu-
laton of wheat Mt Chicago ever known
there Is little encouragement for spec
uiation, and receipts were 5,727, $50 bush
els for two weeks, against 3,09S. 66s
nusneis last year Corn exports con-
tlnue large. amounting to 1866 bush
els, against i,14I,6G2 bushels for tho
week last year, The price declined
about x of n cent.
Spot cotton is Il sixteenth lower for
nhddling uplands mainly because of
the Stoppasc Of some mills by difficulty
npout wages. hut not,,ing ia definitely
known about the quantity Of cotton vet
coming Forward and one report OF cred
fahle character puts the years yield
at l0.5I0,250 bales. thought results thus
FAR do mot quite Justify so large an cs-
t nate.
The iron furnaces In blast January
lst report an output OF 226,60S tons
weekly, against 226,02l weekly Decem-
'Der lst, with an increase of 12aSI tons
IN the unsold stocks held by furnaces
While this shows a consumption 52i6
per cent. larger than n year ago. there
would be discouraging indications Of
consumption but for the fact that sew
eraa furnaces were stopped for. the laol-
days and these, with several othcra
nave started since January 1st. while
the demand for finished products does
not diminish The Pennsylvania rail
road has orderedd 100 900 tons steel rails
ana n new railroad in Maine IL, 600 tons
ana other orders or cars, railroad sum
Plies. plates. bars and structural ma
teriai are unusually large for The sea-
son.
The WOODEN manufacturers have been
buyirS wool largely. and for reasons
not publicly explained. 1t Is evident
that large orders have been taken Ivy
me leading mills Mt prices which thew
hnl satisfactory and the rush of small
mills TO buy wool has made most of the
market during the past week. But there
Is decidedly better demand for mems
wear goods, and the makers look for
ward to n coed season The cotton
manufacturers. heavily overloaded by
excessive production, find no increase
in demand and no gain In prices.
Failures for the past week have baan
Jay IN the United. STATES against Asa
last year, and 45 In Canada, against II
last year.
1NRADSTRE2EH"S REVIEW.
Rradstreet's tomorrow will saw:
Distributive trade remains rather
qulet, mild weather throughout the
country tending to check distribution
or winter goods. Prices generally re-
main steady OF tend upward, excei,t
for some grades OF Iron, and orders
FOR spring trade where received are
encouraging. Industrial activity Is
most manifest at the West, where the
demand for iron is very large. A fea-
ture Of the week was the placing of an
order by one railroad for 100 900 tons
OF steel rails. with smaller orders.
aggregating in the neighborhood Of
$4,000 tons more. Pig iron production
Is now at an unprecedented rate, the
furnace capacity being estimated at
l.O0O.00O tons n month. At the South
manufacturing activity Is n feature
sales Of iron being very heavy. 4
good export demand for cotton and
grain at steady prices is also a fea-
turr. AT the East aanumber of strikes
against wages reductions are report
ed or expected in the cotton industry
some woolcn mills working on heavy
mems wear goods, are refusing orders
their capacity being fully booked An
thracite coal production, II is hopcd in
that trade, VIII be restricted sufficient
ly to allow of the advance of 20 10 80
cents per ton being maint, iucd
De1icata rbi1jran INb,,