Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-01-07
REVIEW OF TRADE.
NEW YEAR BEGINS WITH A BUS
MESS THAT COUNTS.
tBy Telegraph to v!rginian-P not)

(By Telegraph to V!rginian- Pilot)
New York, January G.-R. G.. Dun &
Co.'S weekly trade review will to-mor-
row say:
The year begins with the kind of bus
there has been arising demand for ma
terials. but now the browning demand
FOR finished products begins to advance
prices. in the iron and steel industry
about l per cent, without quotable
changes in pig except at the East
Beams have advanced SO per ton; an
sles 81; bars 81 and plates are strong.
with an Australian order for 30 GOO tons
refused at Chicago, because the works
are already overcrowded. Many thou
sand cars are covered at Pittsburg. 49,
00O tons bars are taken for agricultural
works at Chicago, 100000 tons rails ale
taken by the Pennsylvania company
the Midland Railroad Company, of Eng
land, has ordered twenty locomotives
from the Baldwin Works, and many
other home and foreign orders are re-
ported. The demand mas never been
greater at the beginning of the year
than il is now.
The WOODEN manufacture has similar
embarrassment While 100 quotations
of wool by Coates Brothers, of Phila-
z0.l year ago, the market is gradu-
ally yielding, because people appreciate
the magnitude of stocks on hand, which
the Boston Commercial Bulletin reports
at 29i 100000 pounds, an increase in its
account of lli.o00.000 pounds for the
year. obviously this means q great
movement from the Farms TO millers
stocks and Eastern markets, but prices
are not low enough to encourage buy
ing or consumption by the manufactu-
rcrs.
The only heavyweight goods yet
opened are at reduced prices, as has
been expected, and it is still uncertain
how far the trade for the coming sea-
son may prove satisfactory. Cotton
goods are in fair demand. with cotton
at o.S7 cents. and while nobody can
guarantee that the price will go lower
II is believed by competent observers
that the market for goods is so far
relieved of accumulated surplus that
prices are not likely to decline materi-
ally. even If cotton falls
The movement of cotton thus far in
dicates Il crop over 100000 bales larger
than last ye7rT IN spite of dtti
natural disposition and concerted ef-
forts TO hold it back. AS producers
are not this year in unusual need. n
movement SO heavy hinders any ad-
vance in price, although takings OF
in any other year, ana exports larger
than before. The wheat movement has
to sustain it the largest foreign de-
mand ever known for wheat and corn
together, ana Atlantic exports of s.
2lf.i20 bushels. -four included, against
2Sic,31S last year, with Pacific exports
of 6liS33, against So. 446 last year.
wouid give some reason to anticipate
higher prices were not the Western re-
ceipts 4.1Ol $50 bushels against 2S7G.-
or for the same week last year. The
wonder is that the foreign demand for
corn continues so heavy, 3.572.4l2 bush
els having been exported in the week.
against 2,95l, $50 in the same week las,
Year.
The country is on the upgrade. and
the men who expect it to take the
downward road have yet some time to
wait. There are no indica lions of the
reaction which always follows n large
and rapid business recovery and ex-
iSting conditions in the Industries and
i'll foreign trade by no means forbid
the hope that the increase may con
tinue. rs it did after the revival in 1879
for several years. Exports compa,-d
with imports continue to indicate an
enormous balance in cash due this
country and gold imports begin again.
Failures for the week have been 243
in the United States. against s25 last
year and q in Canada, against 80 last
year.