Birmingham age-herald., 1894-12-29
 TIE TREND OF TRADE. The Year Just Closing Foots Up
 Decreased Failures AND LESS LIABILITIES Than. for the Preceding One. What the Week Has Brought Forth.
AND LESS LIABILITIES

NEW YORK, Dec. cS.-R. G. DunI& Go. s weekly review of trade tomorrow will say: Commercial failures in 1894 already re- ported to us number IA ,292, against 15 ,242 last year, with liabilities of $l63, 23S, 404, against s3l6, ,779 ,8S9 last year. Next 1eek the final report for 1891 will probably show about 400 more failures. From these &C., counts banks and bankers, financial and transporting companies are excluded. Man. ufacturers' failures already number 2f56, against 2422 last year, but the liabilities are only s24. f9l ,2s7, against sl76, 1882, ,091 last year. The trading failures already number Il ,314, against Il ,512 last year, but the liabilities are only Ss7, ,s99 ,O57, against S130, ,C62 1888 last year. The statement, by sections, shows a decrease of about two- thirds in defaulted liabilities in the middle and central northern states, one-half in the west and southwest and third in other sections.
 Revision of prices for cotton goods has been the controlling feature since the great auction, and wide sheetings have been marked down about 10 per cent, while changes all along the line are expected. It is no longer disputed that the consuming demand has fallen below expectations aud below the production which mills kept up in the hope of increased cor sumption. Very little has been done in wooden goods, all waiting for developments after January l, when the new duties take eff .ct.
 The market for iron and steel Is failing, but the reduction in wages at the Edgar Thompson works, averaging 10 per cent, plainly indicates the same difficulty which Is seen n other quarters-that the demand for consumption does not answer to the in- creases in the production of pig iron. The shipments of rails for eleven months are reckoned at only 700, 900 tons, of which only 200, ,000 were for new roads. Numerous projects for steel buildings are under con- sideration, but no important contract is reported. It gives some encouragement that the Bethlehem works have re- ceiyed contract to make armor plate for Russia, but the order for cast pipe for Japan Is still in doubt. Prices have scarcely changed during the week, though Beseener pig and billets are, if anything, shade weaker. There is a larger demand in nails, but in hardware, machinery, en- zines and railway stocks and materials the business is much depressed.
 Shipments of boots and shoes from Bos- ton have been 640 All cases in the past two months, against 5Si, ,239 in 1852, hitherto the largest yet, but tue difference about prices still checks operations.
 Money is still coming to this city in a steady stream, and exports of gold for the week are expected to be about s2, oUo ooo. The dissolution of the bond syndicate, owing 10 the pending currency bill, Is tie most important event ln financial CIT cIes, and 1t is liable to have recourse of some importance. For commercial loans the demand has slightly increased, though only as might be expected at thls season.
 Failures in three weeks of December show liabilities of s10, t51 937, of which S3,5 ,569,- 760 were manufacturing and s6, 7o1 419 of trading concerns. Failures for the week have been 350 in the United States, against 551 last year.