Birmingham age-herald., 1895-02-16
TRADE REVIEW.

weekly review of trade tomorrow will say: Another week's exports of gold and with drawals from the treasury have been al- most entirely stopped by the contract for purchases of gold from Messrs. Belmont and Morgan. Though it's details only be- came public Thursday and were quite sharply criticised by many, the fact is not being forgotten that the rate of exchange was in fact controlled.
 Gold was actually started hitherward from Europe and there was entirely ar- rested at least thus far, the outward movement which has seemed within forty eight hours of emptying the treasury. Close criticism of things done in such a stress comes later. For the moment busi- ness only waits to know whether sales of American securities and withdrawals of gold from the treasury have been lastingly stopped by theremarkable increase Of con fidence.
 The reviving confidence has not only pre- vented withdrawals of gold by Americans in the main, but sales of American securi- ties by foreigners have been nearly, if not quite, balanced by purchases.
 The two obstacles which block the path inst now are exceeding cheapness of farm products and restricted operations in the industries.
 Restricted purchases by the west aud south naturally result.
 The output of pig iron February was 167, ,29l tons, against 168, 414 weekly Jan- uary l, but the stocks remaining unsold were 7lS, ,073 tons, against 645, ,45S January 1, and indicates decrease of 16, l37 tons in actual consumption weekly during the month of January. The severe storms in February have further curtailed produc- tion. Sales of steel rails were only 150, GOO tons i'll January, ,-and the weather has ar- rested structual work and delayed deliv cries of all kinds. There appears to bea better inquiry for some finished goods, es- pecially in wire, wire rods, nails and bar bed wire. The business is encouraging. Pig iron is unchanged in price here and at the west, though northern sales are pressed, and the demand for bar iron is about the same.
 Continued dullness is reported in cottons, and a reduction of prices by the Amoskeag mills causes some hesitation. In the maiu the works are well employed, but with ex- tremely scanty profits and considerable doubt whether a market will be found for accommodating stocks of some goods.
 The money market shows tendency to strengthen and somewhat larger offerings of commercial paper appear, though not in proportion to the reported activity of mills. Doubtless many are working on short time, but any improvement nt is encouraging. A somewhat closer market is expected as result of the bond transaction.
 The failures for the first week of Febru- ary show liabilities of only 2,909 1890; SIPS, 34S were of manufacturing and S1 ,934,- e94 of trading concerns. The final report for January shows an aggregate of S15 ,637,. 033, against S29, ,843, ,028 last year; B 992 .22S were of manufacturing concerns this year, against S11 ,5S9, ,715 last year, while $11,- 626, ,105 were of trade concerns, against $17 ,234, 587 last year.
 Failures for the week were 270 in the United States, against BPS last year, and fifty-one in, Canada, against fifty. five last year.
 BRADSTREET'S REVIEW.
 NEW YORK, Feb. 15.-Bradstreet's to- morrow will say: Milder and pleasanter weather, following the severest snowstorms and extremely low temperature, has, with few exceptions, failed to stimulate orders movement generally. Exceptions include a revival of demand in few lines at Bos. ton Eand New York, in drugs, leather and paper at Philadelphia, and in general merchandise at Savannah and Jacksonville, the only southern cities reporting trade better and mercantile collections good. At the west there are improved sales by Chi cago jobbers in dry goods, clothing, fur nishings, shoes and rubbers, and Kansas City announces larger volume of spring creased at Milwaukee and St. Paul pointing to small stocks held by country dealers. Elsewhere general trade remains at low ebb
 Mercantlle coliectionS south ana west, with few exceptions, are slow and un- satisfactory. Southern merchants and manufacturers in some instances are mak- ing greater efforts to collect amounts due than to sell goods. As one consequence of the recent extreme weather trade at Au- gusta has fallen of to a marked degree, as at Birmingham, Chattanooga, Atlanta and New Orleans, merchants at the latter point finding an unfavorabIe influence also in the stoppage of payments of sugar boun- ties. Wordcome from Texas that snow throughout that state has checked the vol ume of trade in all directions.