Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-03-04
FEBRUARY BUSINESS,
by FAR GREATEST EVER KNOWN
FOR THE MONTH.
REPORTS MEYER BEFORE so GOOD.
Besides This There Has been a
General Advance in Wages, Imme-
dfate or Prospeohve-FaiIur Re-
arms Encouragipg.

NEW YORK, March s.-Messrs. r.. G..
Dun & Co.'S weekly review Of trade will
, say Tomorrow:
The business OF the past month was
far the greatest ever known in February.
Clearinghouse exchanges were about
F.c0.Ooo,ooo. against $3.50. So. si4 last year.
and d.2 larger than in 1892
In all the years Of weekly commercial
reporting there has been no other week
IN which the reports from all parts Of
the country have been, on the whole so
good as they are this week Moreover.
during the past week there has been a
general advance in wages, immediate or
prospective.
WAGE ADVANCE VOLUNTARY.
AT most points the advance OF 10 per
cent. or more was entirely voluntary. 1t
has averaged from TO 10 per cent. I'm
tin-plats works, and about 10 per cent.
in other cases. and as it affects much
over 10000 hands, IL will add greatly to
the purchasing power OF the wage
earners.
The return OF failures in February
while showing larger liabilities than in
January. are highly encouraging. A
rather unusual number Of large failures
in scattered branches Of manufacture has
swelled the aggregate, including one con-
Germ for 100000 in electrical apparatus
but In nearly all branches the statement
indicates a remarkably healthy condition.
in spite OF these failures, while i'm trading
the defaulted liabilities are smaller than
In January, or any previous winter month
for six years.
PRICE FEATURES.
In prices the striking feature has been
the rapid advance in iron and steel pro-
ducts. resulting from a demand greater
than the works in the country can sup
ply. All the works Of Importance have
been crowded with orders running to July
and later. Beated buyers have been
given life to concerns long inactive, and
as these can add but little to the out
put. the markets have been entirely con-
trolled by the buying demand.
All sorts of prices have been paid. some
for early delivery and some for delivery
after July 1st, but $3.50 is quoted for
Bessemer pig at Pittsburg, $3.50 for grey
forge. and at the East Sli25 is quoted for
anthracite No. l. Prices of finished pro-
ducts have also been advanced 81 per ton
FOR eastern and western bars, plates, and
structural forms, and g for wire nails.
The demand has not yet been checked.
and some heavy orders have been taken
at all points. even at the highest prices
named, but the export business is likely
to be stopped for the present.
BIG WHEAT FIGURES.
Holders Of wheat have been looking for
the report Of the Agricultural Depart
ment regarding stocks held by farmers
March LIST, but commercial reports indi-
cate that such are the largest ever held
at this date. They have to support them
the western receipts, from farms, which
have been larger than for past years in
February-for four weeks l2,5zl 600
bushels. against 1O,O04,600 bushels last
year. while Atlantic exports have been
for four weeks u, 500 1855 bushels. against
ISIS eS5 last year. The Pacific exports
have been GO5,737 bushels for the week,
against 81 1893 bushels last year. and from
other ports, 1889 bushels have been
shipped during the past week.
Rarely. IL ever. has there been as great
a demand for grain at this season as
now appears. but the price has yielded
ia cents for the week. although corn
has advanced IL cent for spot the re-
cepts having fallen
TEXTILE INDUSTRIES.
The textile industries are making pro-
gress. There has been a strong increase
in the demand for cotton goods resulting
I'm further advances in the prices for
some. while I'm woollen goods slight adj
vance appears, Notwithstanding decline
I'm the prices OF wool during February.
The decline has not been general I'm wool,
nor has the advance in goods. The heavy
weight season has been disappointing. and
manufacturers are willing to get on for
the time as best they can, In the hope
that larger demand will come from the
clothiers n little later.
Failures for the week have been, I'm
the United states, 1856, against 25l last
year. and A in Canada. against % last
year