The times. [volume] (Richmond, Va.) 1890-1903, 1895-11-16
WEEKLY TRADE REVIEW
AZ UNPRErEDENTED INCREASE IN
THE OUTPUT or PIG-IRON.
Prices, However, Are on the DccIine-The
stock Market Recovering DC
spite UnfayorabIe Conditions.

NEW YORK. Nov. 15.-R. G.. Dun *
| Co. will say tomorrow, in their weekly
Review of Trade:
Failures in the first week OF November
amounted to s2,Il,f75. against i'ii'
last year, and for October show iiabiii-
ties OF sl6.sS7 s2l. against sn,l2',5r last
year. and s25,y5i.132 in 1888. For the last
week failures have been 2& in the
United States, against 30 last year, and
forty-nine in Canada last year.
| The scare about gold exports had no
| real significance. and although s-ZD,WD
more Will go out. the stock market has
| been recovering. The collapse OF kafnr
speculations abroad has forced many TO
| realize on American holdings, and the
impression that our Government may
! have to borrow again is also to ous dis
advantage. But there is no local dis
turbance Of money markets. Stocks are
| SOC. per share stronger than week ago.
| Commercial loans are not large, and the
demand for moving crops has been re-
| markedly small. so that, on the whole.
the money market has shown very I'M
usual strength and steadincss for the fall
season.
The CROP REPORTS.
The Government monthly crop report
has caused, as usual, rather more GER
tainty in its Interpretation than previ-
ously existed as to crops. The cotton
statement, lacking account of acreage on
which 1t was based was of only specu-
lat!ve value. and mere rumor
that Mr.. Nels circular would indicate
crop of over 10000 bales. But or
ganization to hold cotton back renders the
comparison of less use. The bottom
fact is that even a smaller crop than
anybody expects, with the 100000 bales'
carried over. will assuredly prevent any
famine in cotton. Meanwhile the ex-
ports decrease 80 per cent. in quantity
Wheat Derplexes the oldest Inhabitants.
The output Of pig-iron November lst
was III, 800 tons weekly. about 10 per cent.
larger than ever before. and continuance
OF the same production for six weeks
more would make the half-year's output
$4,000 tons or more. about $4,000 tons
greater than in any other half-year.
The startling fact Is that the demand
for products Of iron and steel falls on
Notwithstanding the Increase OF pig and
that only few concerns have closed or
reduced work wages on account OF
the lack CT orders. Prices are shrinking,
having declined 81 per cent. and Ga per
cent. from the highest point. Bessemer
pig billets. grey forge. bar, tank steel
plates, structural angles, and wire nails
have all sold lower within the past
week The woollen manufacturer has to
meet this year with two difficulties-the
remarkable demand. for clay worsteds.
which has encouraged an advance OF 10
per cent. in price. and the heavy i'm
ports of wocllen goods. But sales OF
WOO! continue large. In spite OF the
fact that part OF the mills are closed or
working only part force. The cotton
mills are running well. and ind very
good demand for products, though ii Is
not OF late fully sustained. Print cloths
have declined a shade.
The volume of democratic trade APP
pears from exchange II per cent larger
than last year. but ia per cent. smaller
than in 1892.
BRADsT8FTT's.
Bradstreet's tomorrow will say:
The condition of genral trade continues
irregular and without material change
There is a distinct falling off in demand
for iron and steel, with perhaps the
heaviest reaction in quotations in these
| lines reported in any week since the late
| boom I'm these metals. Central-western
| cities continue TO feel the unfavorable
confidence of uaseasonably mild weather.
which is true as well of cities at the
Northwest. Then there is the long list
of drops in quotations for merchandise
| October gross railroads earnings reflect
genrally improved trade; specially heavy
largest gain shown for any months but
June and July this year.
With the exception of the southwestern
roads and the coalers, which show de-
creases, every other road shows gains
All the trunk lines and nearly all the
southern roads show increases. the latter
i'm spite of the short corn crop
Renewed gold exports. which amounts
for the week to 81. 25O.C0J. have checked
the bullish tendency OF the New York
stock market. The selling. however. IS
professional, the short interest, and the
LIQUIDATION apparently completed. Furth-
er gold shipments are expected next week.
Bank clearings at cities throughout the
United States aggregate $l.l7l 10000 this
week. ( per cent. more than last week. As
compared with the corresponding period
in 1872. at a time when bank-clearing to-
tails were exceptionally heavy. the falling
off this week is II per cent.
There are go failures reported this
week, compared with 260 last week. $50 in
the week one year ago. and as cOntrasted
with only 35 i'm the corresponding week
Of 1882 The increase in the number OF
failures this week over last is more than
accounted by Southern and Northeast
States. Other failures include very gen
orally satisfactory collections, East. West.
and South, exceptions being conspicuous
by their infrequency. There is a dispo.
sition in the Gulf States to move the
cotton more freely. and Texas cities re-
port checked volume of business, result
ing from lower prices on cotton.