Birmingham age-herald., 1894-09-15
THE GREAT CORN SHORTAGE
And Injury to Cotton Affects the Market a Little-lron
 Picking Up-Failures.

NEW YORK, Sept. 14.-R. G. Dun & Cots. weekly review of trade for tomorrow will say: Business has met no set back this week, and continues larger than in August and larger than year ago, directly after the panic. More commercial paper is of- fered, the western demand for money in- creases, the iron manufacture greatly ex- bands it's output, shipments of shoes con tinue large and cotton goods still advance little. Ia some directions the postponed business has about spent itself, and less active trade results, while the net increase has not been much more than is usually seen in passing from August into Septem- Der.
 In comparison with last year the increase is per cent in volume of clearings, while in comparison with September, 1892, the decrease ia 25.7 per cent. Railroad earn ings in September thus far reported are 1.3 per cent less than last year, but 15.5 per cent less than in 1892, and the tonnage comparison shows substantially the same result. The country has now passed nearly through three weeks under the new tariff, and all admit that changes have been of less importance as yet than was expected. If in some branches business has mate- ria]ly increased it has gained little or fallen off in others.
 Loss in some directions is explained by crop reports, for the mos. favorable esti- mate of experts put the loss on corn as about 400, ,000 900 bushels, whereas the gov- ernment report is by some interpreted as meaning a loss of 1 ,000, ,000, ,0000 bushels. The opinion of the trade does not favor the official estimate, and the price has not risen at all during the week, though re- ceipts have been very small, exports have practically ceased and all realize that the shrinkage of 400 ,O00, ,O00 bushels is serious, If It proves to be no greater, since 1t must affect prices of meats for year or more- Pork is unchanged, but lard has risen 30 cents per 100 pounds. Nor are official re- ports encouraging as to wheat. Western receipts in two weeks have been Il ,1S4 ,6S7 bushels, against 10, ,674 ,761 last year, and Atlantic exports only 2,074, 790, against 6,1C6 ,562 last year, and then the price is @ cent lower.
 Considerable injury is officially reported 10 cotton, but few expect less than 8,500,- GOO bales, which is more than enough, and the price is 1-16c lower. The great increase in iron production, which was noted as following the removal of coke difficulties, is measured by the capacity of furnaces in bys September l, namely, 151, ,113 tons, against 115, 3b5 August I, and the unsold stocks also decreased 35,5S4 tons during the month. The output thus rises to 80 per cent of full production, but the con- sumption may be less, as the main inc rease In the output was near the end of August, and prices have since weakened little on DtbSciDeT lTOu bO fll 4u db ElltSDuTR, Wull6 grey forge sells at $9. 95.
 Less activity is Seen in dry goods, the rush of postponed business having abated, and there is more disposition to defer pur- chases because of somewhat general ad- vance in cotton goods, and because London wool sales are expected to make the out look clearer. Strikes In cotton mills have not ceased and stocks of print cloths shrink rapidly, but some question whether recent advances in price can be maintained with an Y n ad fn ha ant 4rsan There is still a fair business for speedy de- livery in woolens and for cheaper grades of spring goods, but scarcely anything Is done in the finer grades. About half the usual business in the aggregate has been done, it is estimated, but about three quarters in the cheaper grades. Sales of wool have been 2, 7,255, 200 pounds iu two weeks, against 1867 ,000 last year and 18,- 428, ,000 in 1892.
 Failures in the first week of September show liabilities of only $1, ,43O ,O7U, of which k415, 120 were of man ufacturing and $937 ,450 of trading concerns. The aggregate of lia- bilities reported for August is $10, 697, ,613. This week the failures have been 207 in the United States, against 314 last year, and A in Canada against 2 last year.
 BRADSTREEr'S REPORT.
 NEW YORK, Sept. A.-Bradstreet's to- morrow will say! "All the features of improvement in general trade ported a Week ago are rebalneQ, ana rom O mum per of more important business centers still further gains are reported. Commercial travellers from Baltimore are making their second trip to the south, and regard the business prospects as exceptionally bright. Transactions in wool at Boston have been very heavy, one sale amounting to 1,200,- 900 pounds. It is added that several new and to the American manufacturers hith- erto unfamiliar varieties of foreign wools are being purchased with a view to experi- menting. Encouragement is gained from the improved demand for money at Savan- nah, Augusta and New Orleans, due to the increasing receipts of cotton and demands for advances on the crop.
 ssThe southern pig iron market may be gauged by sales at Nashville thus far this month equal to the total sales during August. Inquiries are received from the north for heavy blocks of pig iron. Bos- ton reports quite au improvement in gen. eral staple lines, due to the heavy reduc- tion in country store stocks in precedl months. At Philadelphia there is a bet, CT demand for cotton yards, petroleum, shoes and drugs.
 "No change is reported in favorable bus mess at Baltimore, except that orders have increased from mining districts.
 "A dozen of the more important dis trtbutiDg centers in the southern states re- port the favorable conditions previously prevailing there. including better feeling among jobbers and other dealers, improv- ing collections at number of points, and brighter outlook for distribution in the near future. These features especially characterize Charleston, Atlanta, Jackson ville,- Savannah, Birmingham, Memphis and New Orleans. Chattanooga, however,