The times. [volume] (Richmond, Va.) 1890-1903, 1899-02-18
OUR BUSINESS
STILL EXPANDS.
A Healthy Tone Despite the False
Stimulus of New Combines.
THE RISE IN GRAIN IS GENUINE.
Foreign Demand, Especially Tor Corn
Continues Strength IN Iron Phe-
nomcnaI-Thc Outlook for Cot
ton is Brighter.

NEW YORK. Feb. 17.-R. O.. Dun *
Co.'s Weekly Review OF Trade VIII say
Tomorrow:
Beyond question. business is expanding,
and I'm many branches 10 is larger, not
wIthstauOlug speculative conditions
which tend TO reduce 10. All monopollcs
or attempted mOnopoies stimulate huSi-
mes while they are coming, but tend 10
stne 10 after they come, and the ihIoh-
of combinations and trusts which have
been formed or proposed. have given a
temporary but questionable impetus 10
trade But beyond the influence OF these
are genuine and substantial enlargement
OF bushes due 10 the prosperity OF "a
growing population. The weeks output
of pig iron February 1st was ZaL629 tons
against 2l35l6 January lst, and 23',a2A De
cember 1st The average weekly produc-
ton thus indicated was about 1000 tons
greater in January than I'm December,
and the uns0ld stocks We're reduced
1901 tons i'm January, against 5lii'
u December, so that the apparent con-
sumption in manufacture was ON jan
uary 1st. l1lOOl9 tons. against l,OaS.lio an
December The stoppage of several FUR
naCes for necessary repairs an "a time
when the demand is most pressing, has
caused some fear Of famine although
quite a number OF other furnaces have
started since February lst or are about
90 start
THE IRON TRADE.
Zig iron has advanced, but the largest
cousumption ever recorded in any month
is in part due TO the hasty purchases OF
products about 90 be controlled or adj
yanced in price by "a combination There
are SO many of these in tine iron and steel
Industry that the present market does
not clearly indicate tho magnitude OF
demand and disappointment in some
branches. is not improbable. But the rise
of 81 in steel rails with the entire capac-
lty of an works engaged until after July
lst is not unnatural. nor the strength in
plates for which the legitimate demand
is beyond AN precedent and the same
is true of bars. the quantity required Tor
cars railway and agricultural implement
works being enormous.
GRAIN EXPORTS.
so fictitious demand has caused the
rise On grain. for the exports continue 50
heavy ln wheat and corn that the ad-
vance OF 8 ia cents in wheat is album
dainty justified and the rise of 3-i in corn
seems scarcely enough for the occasion.
Atlantic exports have been retarded by
the blizzard but have been 2z65, l5 bush
els flour included, against 3liZ05l last
year, and for the crop year thus Tar the
exports. including -four have been l50,
1910 bushels against li3,li,laZ last year.
When it is remembered that the exports
of corn are almost as large as the lars-
e-t ever known, there is reason for as-
constituent at the continued foreign de-
maud That 10 persists in spite OF the
strong advance in prices here since sep
TENDER lst is most encouraging. To
obviously impossible 20 judge how far 4,
NAV go. nor does the foreign dema ~
tor cotton ahate. though the price -
again been raised 5-l6 during the
week
COTTON PROSPECTS.
The exports have decreased some
the controlling fact is that "a remarkal
shrinkage in receipts from plantation
appear tO indicate "a smaller yield thdy
has hitherto been expected. 10 should h'
remembered that the receipts have been
greatly hindered of late by bad weather
The heavy demand for goods helps Ga
advance prices just now, although no as
surance can be given that the declining
prices win not presently check mat dee
maud
There is much more inquiry for wool
and the manufacturers have a larger
demand for heavy weight goods. but tney
maintain that they cannot pay prices
now demanded for wool and most OF the
purchases made appear 10 have been al
some concessions.
The minor metals have been running
weaker. with d reaction in lead. although
the industries have shown no abatement
of demand I'm this country and the rise
iu prices here IS due largely TO increased
consumption.
Failures 11S for the week I'm the United
States against 2e5 last year. and is In
Canada against So last year