Birmingham age-herald., 1895-03-30
h the Mercantile and Manufao-
 turing WorldNisible,
AND OF A so-s.D CHARACTER
IIS Iron Mark,S Healthy, as Is That of Met 'andise-Clearing SIuse Reports.

NEW YORK, March 29-R. G. Dun & Co. s weekly review of trade tomorrow will say: Signs Of improvement are all the more satisfactory, because neither accompanied nor apparently produced by a speculative craze. Dealings in stocks. cotton and wheat are not diverting all the interest and capital from productive industry and legit- innate trade, though thess products are all shade stronger. But railroad earnings, bank clearings and industrial indications are more encouraging this week. It is remarkable feature that the Hitting this year begins at the bottom, so to speak. Raw materials are raised before there is any larger demand for their finished products, thing not often done with success. Hides rose, then leather and then shoes. Cotton rose and afterwards some cotton goods. Coke was advanced and afterwards Bessemer pig. h all these cases it is req soned that the larger demand for consump- tion, though yet wanting, must come when it is seen that prices are going up.
 Higher wages for coke workers have been followed by formal advance of 40 cents in the price of coke, and now Bessemer pig has risen 35 cents at Pittsburg and 25c at Philadelphia. Begin ming at the top to lit prices requires exceptional strength, but the Carnegie-Frick interest Is ceptionally strong. So far there is no answering in" crease in demand or in prices for manufac- tured products, and on the whole the range is slightly lower than a week ago, angles and common bar having yielded little. The general belief is that dear materials will kindle more buying of products. AS yet it seems i'm mpossibie to fill the mills with orders, and the struggle of those yet unem- ployed keeps prices down. It is sign of strength that an eastern mill has secured, in competition with British makers who had an advantage of S2. 50 in freig hts, the contract Tor 2,090 tons oi rails for Cali fornia road. and other contracts for about the same quantity have been placed. But the attempt of the Mahoping bar mills to reduce wages cents for pudding and 12H cents for finishing: seems likely to result in 0 strike.
 Rlwsl cotton has been hoisted until g stronger market for goods resulted with some advances in price. The tone of the goods market has been decidedly improved, though it does not yet appear that retail distribution has correspondingiy iy increased. But stocks of retail dealers are light and when they feel that prices are bound to rise the demand may grow rapidly.
 A better indication of general improve ment is that exchanges through the princi- pal clearing housss of the week are 2l per cent larger than last year and only Al per advent of decidedly better conditions.
 Little encouraging can be said of foreign trade, exports for March being smaller than last year, while imports for the full month will doubtless show some increase. Rates for money are higher, as usual just before April 1, and the commercial demand is somewhat larger.
 Several large failures this month have swelled the aggregate of liabilities for three weeks of March to Ell ,271 121, against S10,- 061 ,991 last year, oI which x6 All ,342 were of manufacturing concerns, against S4,- 469, ,11S last year, and "A 1924 ,779 in trading concerns, against S4 ,225, ,uS2 last pear. The failurss this weeK have been 23i in the United States, agaist 23s last year, and 42 in Canada, against 30 last year. But the recent increase indicates past rather than recent conditions of unsoundness.
 BRADSTREET'S REPORT.
 NEW YORK, March 29.-Bradstreet's to- morrow win say: General trade for the third week in succession continues to show evidence of improvement. In no other di- rection is this so plainly indicated as in the tendency of prices. A week ago encour- agement had been obtained from gener- ally unexpected advance in cotton and wheat. Following their slight reaction, the week has witnessed firm cotton mar ket, further improvement iu wheat, with a sympathetic influence on corn aud oats, the effect of which is greatly emphasized this week by advanceslin quotations not only for coke, but prospectiveiy for iron ore and for
 
 tually for mauu facIured iron at western markets. Higher quotations for cut meats west are the outcome of restricted supplies of cattle, and this is behind increased de- mand for shoes for fall delivery, as quota- tions for leather continue upward on the comparative scarcity of hides.
 Firnness In cotton with the late advance has shown itself in higher quotations, not only for print cloths but other varieties of cotton goods, some of them being H 10 H cent higher than a fortnight ago.
 A moderate improvement is announced from Memphis, Nashville, Birmingham, Alta anta and Augusta, dry goods, groceries, hardware and plantation supplies feeling the change most. At Chattanooga and Savannah the trade is quiet, but at Jack sonville there has been decrease in vol- tune. The movement in dry goods at New Orleans has felt some increase in demand, but shipping interests contin ued disturbed. The season is backward at Galveston, with trade only fair.
 BRAZIL CAN'T COME.
 NEW YORK, March 29.-The Herald's ciol ca hla from Rio da Janeiro aaya the