The news & observer., 1896-12-12
Mckinley Wave Smoothed By
Standard Oil or Something.
BRADSTREET AND DUN
Failures % More Than Last
Week; 81 More Than in '05.
PRICES TENDING DOWNWARD
Noticeably For Bessemer Pig Iron, Steel
Sillets, Rats, Hides, Leather, Flour,
Wheat, Corn, Oats, Lard, Cot
ton and Petroleum.

New York, Dec. 11.-R G.. Dun and
Company's Weekly Review of trade to-
morrow will say: The approach Of holi-
days and doubt about the action Of Con
gress put off further improvement under
the new year. While industries have
gained in working force they are waiting
on commensurate gain in demand and
meanwhile are trying to clear away en-
barrassments which restrict them.
The wheat market has weakened with
less gloomy news from other countries
and larger Western receipts, though only
3,691, ,374 bushels against 6O03, ,404 last
year. Cotton has declined three six
teenths in spite of all stories that the crop
has been nearly marketed, and continues
to come forward steadily. With over FIVE
million. bales in sight already, there are
estimates based on government reports
that the yield is 100000 bales, or less
which would leave but $500, 900 to come
forward in eight months and three weeks.
When the official report first came there
was a rush Of buyers, a few minutes
turned the current and q rapid decline
followed. The iron output December /,
was 142, ,2S7 tons weekly, against 1884,
OF, November 1 and 216792 a year
ago and unsold stocks reported were 81
901 tons smaller than November /, but
these do not include stocks OF great steel
companies. The industry is for the time
demoralized by uncertainty regarding the
great combinations. Textile industries
are working larger force than in Octo-
ber, but there is not much evidence Of
larger demand and some kinds Of goods
are accommodating. As raw cotton is
lower, some yielding in prices of staples
is expected and buying is on that ac-
count more restricted a few qualities OF
goods having slightly declined. Print
cloths are weak in tone with enormous
stocks. Woolen goods are not in better
demand ard there is general indisposi-
tion to make commitments ahead Sales
Of wool, in two weeks, 14,37S,90 pounds
against 1890, 200 last year and 1882,
200 in 1892, are this year largely between
traders as the mills find at present little
encouragement to buy and London sales
are shade weaker.
Failures for the week have been $50
in the United States against 333 last
year 43 in Canada against "a last year.
BRADSTREET'S REVIEW.
New York, Dee. -Bradstreet's to-
morrow will say: There has been no
improvement in trade this week, except
in holiday specialties Distribution of
merchandise in Texas was checked by
those who have held back cotton,
awaiting higher prices. Unreasonable
weather has again delayed demand for
winter goods and the approach Of the
period for stock-taking will prolong the
season Of dullness well into next month.
The tendency of prices is more conspcu-
0usly downward, noticeably for Bessem-
or pig iron, steel billets, rails, hides,
leather, flour, wheat, corn, oats, lard,
cotton and petroleum. Comparatively
steady quotations are reported for raw
wool, print cloths, lumber, pork and SUI
gar There are 3S1 business failures re
ported in the United States this week,
another increase as compared with the
average in recent weeks % more than
last week, 67 more than in the like week
one year ago, but , less in the second
week ofDecember1S94 although A more
than in the corresponding period in 1898.
As compared with the like week in 1892
the increase number Of failures this week
is So There are AZ business failures
reported throughout the Canadian do
minion this week, five fewer than last
week, 3 more than in the week year
ago, S more than two years ago and
less than in the like week of 1898.