The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1898-02-05
REVIEW OF BUSINESS
Cold Weather Affects Movement and Dis.
tributiOu of Goods.
JANUARY TRADE ABOVE THE AVERAGE
Clearing House transactions Re-
markably LnrEe-Expnrts or Ger
en,s FaiI Off Wheat suffers De>
cline while Cotton Remains Un.
changed.

New York. Feb. 4.-Bradstreets to-
morrow will say:
Severe cold weather, accompanied by
high winds and heavy snow, has been
n feature exercising considerable influ-
ence upon the movement and the dis
trbutfon of staple goods this week.
The Northern and Eastern States APP
pear to have felt the effects Of the
storm most severely. In spite of this
interruption of business a satisfactory
trade for the season is reported in mos:
! lines, with special activity reported III
! The iron and steel trad.s and kindred
lines. In the East the distribution of
| dry goods and wool has been checked
and the movement OF produce greatly
interferred with. but the tone of the
COTTON goods situation is, IL anything,
! improved. In the Middle States and in
! the central West the movement Of iron
! into consumption, is still very large,
| but nevertheless as to possible over
! prrdMcrion affects the market Steel
is slightly lower at the East. but firmly
| held at Chicago, which also reports adj
! vance III iron bars, wires and nails.
| Western mills will not agree to deliver
| Seel rails. 'bilets or rods on new orders
| before July l.
Southern buyers are coming into 81.
| Louis more numerously than usual at
this date, and the distribution of dry
goods, boots, shoes and drugs is active.
In the Northwest better trade is re-
ported, and cold weather has helped
the distribution OF seasunahle goods
At the South trade is reported i'm
proved at several important. centres.
and the total Of January business is
said to be above the average
Alaskan business on the Pacific Coast
is Still very active, hut expert trade in
cereals Is small. Rain is needed in
California or crops will be considsra-
| MY shon-ened Srcadlncss in prices has
| been feature of the week the only de-
grasses noted being in wheat, corn and
| Hour in speculative reaction and in
lead. while the prices of oats, pork.
| beef and coffee are higher.
The export movement Of cereals
| shows heavy falling off for the week.
but Is SELL ah'5ad Of che same week Of
| preceding years. The total shipm erts
| of wheat. flour included, amount to
3,d33,79 bushels, against 5,O26.0 900 bush
els last week, 3,1GS,0O0 bushels In THIS
week year ago, 1907. 600 bushels i'm
1896, 100000 buehels in 1895 and 2,67S. 900
bushels in 1893 Indian corn exports
!
eating 4,1oi,aS1 bushels this week
against $4,000 bushels last week.
| 1868 600 bushels q year ago, 3212, 900
bushels in 1896 and $4,000 in 1896.
business failures, though slightly
larger than last week, numbering 295.
against 2SS the week before, are little
above the normal. They compare with
n total number failing in the cores
! ponGLng week of 1897 Of 305, in 1896 of
BIS, in 1895 Of 293 and in 1894 of 3S6. The
t'otal number failing in the first week Of
| February, 1893, was 223.
DU'N'S REPORT.
| r. G. Dun e Co.'S weekly review of
trade will say in its issue Tomorrow;
ACTUAL payments through clearing
houses in January made remarkabl
showing, being mucn larger than in
any previous month, &c per cent larger
than the same month last year and IL
| per c:nt larger than in 1882 The fail
urcs IN January were smaller than I'm
any prebious year of which there Is
| record. and were probably smaller than
i'll any January since 1881 The s,:a,se-
ment by branches of business given this
weak shows surprising gain in most
| departments OF manufacture and trade
| Meanwhile tfo money market is ms
confident rs ever; gold does not come
| from Europe in large amount only be-
cause pahkerS ma II worth while to
| iend American money abroad and the
commercial balances are heavily in
favor OF the United States as her5tcfo
| Perhaps the most striking feature of
| the week has fbesn the decline in wheat
! with exports of 1904 SIT bushels against
| l.nO,5i6 last year. -four included. from
| Atlant!c ports, and 776.S4O from Pa
enc ports against S44,343 bushels last
year, the temper ofthe market has been
| weaker. Ihc report Of the Agricultural
department. has had some influence
although its figures are not generally
credited as reliable. The wheat mar
ket has turned largely upon the opcra-
tons of Chicago SPECTATOR. but the
iact remains that the price depends
largely upon foreign needs and upon
the comparative scarcity of American
! supply. The Outgo of corn continues
heavy, 3,I9S7S6 bushels against 3.343 400
Tor the same week last year, and the
excess over last year, when exports
were much the greatest ever known.
indicates very heavy foreign demand
The spot price of cotton romans nm
changed, but the fact that receints
continue larger than during the same
week OF 1895. after the heaviest cron
ever known. checks speculative op:ra-
lions n n oh,