Birmingham age-herald., 1895-07-27
SAND ON THE WHEELS Business Continues to Climb the
 Hill of Progress. FAVORABLE FEATURES HOLD Iron and Steel Masters Refusing Orders Except
 at Full Prices. AN ADVANCE OF 5 CENTS ON CUT NAILS The Financial situatio Has Not Been Dis turbed by Gold Shipments-A Sharp fta Decrease in Failures for
 the Week.
FAVORABLE FEATURES HOLD
AN ADVANCE OF 5 CENTS ON CUT NAIL

New York, July y26.-Bradstreets' tomor- row will say: The most striking features of the business week are influences of improved crop prospects and the con- tinued large demands for iron and steel, with one of the largest makers in the market as a buyer of Bessemer pig.
 Most of the commercial and industrial features of the preceding week are re- tained. The volume of trade has not va ried materially, but in instances is larger than at a corresponding period Of last year. Trade in almost all lines is fairly active for the season. and the general tendency of mercantile collections IS to- ward greater ease. Commercial travel CTS are being sent out in all leading lines and reports from those now on the road appear to meet expectations
 Among larger eastern cities no strik- ing changes in the condition or trade are reported, with the exception or an improvement in the industrial lines anu in inc lake trade at Buffalo and rather smaller volume of business reported from Baltimore. Pittsburg iron furnaces are sold months ahead, and at Phlladelphia the strike among the textile Woiheis ie mains unchanged.
 Central western cities, among them Cleveland Detroit, Cincinnati and Louls- vile report the usual volume or hlld- summer business, with perhaps more ac- tivity relatively at Louisville, where the question of suspension Of the prouuc''oh of whisky is being discussed
 Fair orders are being received of Joo- hers and merchants at both Chicago ana St Louis, but no pronounced reViVai ioi fall delivery is expected there until Au- gust 1, country merchants prelerrihS eo giving out orders. Iron and steel lnduS- tries are refusing orders except at 1uii prices. fair business is reported from Kansas City, although needed rams throughout Kansas are expected .o iiii prove the demand in the near future. Excellent crop prospects in Nebraska, however. are said to be more active, and at Omaha, where trade in some lines are in excess of those of 1894.
 At the southwestern cities, MllWaukee, Duluth Minneapolis, St. Paul and Sioux Falls, there is the customary volume of midsummer business with prospects for a greatly improved fall trade.
 The features of the week at the south are rather more satisfactory. Reports have been received from Memphis, Chat tanooga and Galveston, where orders have been received in some instances in excess of expectations, but the volume of business is larger than at the core spending period last year.
 At such points as Charleston, savannah and New Orleans no material change IS report as compared with week ago, and the like is true at Birmingham At lanta reports rather less doing Tn ory goods, notions and groceries, but that the outlook for trade this fall Is good The volume of business has fallen off at Jack sonville. The most disturbing influence in Louisiana is the withholding of pay ments of the sugar bounty.
 Total number of business failures in the United States this week as reported to Bradstreet's is 237. Last week the total was 2i1; in the week year ago 1t was 237.
 Dun's Report.
 New York, July 26.-R. G. Dun & Co. in their weekly review of trade tomor- row will say: It is not the season for the tide of business to rise. but there is perceived scarcely any shrinkage ex- cept that which comes naturally with midsummer heat Lateness of the spring trade threw heavy settlement into the second week of July, and clearing house payments are almost a quarter smaller than in the week. but are 2l.1 per cent larger than last year and only per cent smaller than in the same week of 1892. The volume of business is small com pared with recent months. but large enough to encourage more opening of long closed works and more advances in return for labor.
 Important strikes show that the ad- vance is not enough for some. but seem
 
 small shipments of gold count for noth- ing, and money markets are undisturbed.
 Prices of iron and steel products still rise. The feature this week is the start ing advance of , cents per keg in cut and wire nails, with new cards for va rious sizes which, it Is stated. makes the advance actually greater than 1t ap- pears. Angles are also shade higher. and other prices are strongly main tained. Bessemer pig does not advance. <to fl.y~ company have been buying about 140.000 tons, which is supposed to foreshadow large contracts for rails. In the first half of 1895 orders for rails were 71S00 tons against 502000 tons in the first half of last year, and good many small orders appear at Chicago. Otherwise there is d distinct halting in new demand. though nearly all iron and steel works are crowded with orders for some time to come.
 Textile works have a better outlook with larger demand, both for cotton and woolen goods, shade advance in print cloths and in most bleached goods, and much more hopeful market for light weight wooens, which. if scarcely ad- vanced by the last years prices, are sell ing better.
 The financial situation is not disturbed by gold shipments nor by the large ex- cess of treasury expenditures, amounting to about $12,300. Receipts are naturally better in July than in most other months, but exports are also large. Money scarce ly begins out fer crop moving and the demand for commercial loans is not as large locally as it should be.
 Failures for seventeen days of July show liabilities of s6.599, 751, Of which 1898, 52S were of manufacturing and s. 924,8S1 of trading concerns.
 Failures for the week were 202 in the United States, against 209 last year. and twenty-seven in Canada, against thirty nine last year.
 southern Railway F,arninps.