Birmingham state herald., 1896-03-14
WEEKLY TRADE REVIEW General Trade Shows No Marked
 Changes This Week. IRON AND STEEL ARE QUIET There Is Heavy Stock of Cotton Goods, With Slack Demand. STAPLE ARTICLES HAVE DECLINED The Number of Failures Was Unusually Large-Prices in February Were the
 Lowest Ever Known in This
 Country.
STAPLE ARTICLES HAVE DECLINE

New York, March 1S-R. G. Dun & Co. will say tomorrow in their weekly review of trade:
 Failures for the week have been $50 in the United States, against 266 last year, and 50 in Canada, aga.nst 57 last year.
 Large hope, but little actual business, explains the strength of some markets and the weakness of others. Thus far there is decided increase in the demand for boots and shoes secured by conces- sions in price, but in other branches of business concessions are made in vain or are not made. Meanwhile it is en- courag3ng to know that one of the most important business interests has realized definite improvement. The insurance companies, of which returns are given in detail this week, show a larger business and larger income than ever before and also a most remarkable soundess of mortgage loans and other investments.
 As prices about February 21 were on the whole the lowest ever known in this country, considerab ble space is given this week to comparison of quota tionS the most important of which show the ex- tent of reaction since the rise last fall It is especially noteworthy that prices of materials have varied quite differently from prices of manufactured products Thus cotton is 27.9 per cent higher than a year ago, but cotton goods average only 10.7 per cent. Wool is but 5.3 per cent higher than year ago, but woolen goods are on the whole about per cent lower Pig iron Is only IF per cent higher than year ago. while finished products of iron and steel average 45 per cent higher. Boots and shoes are practically no higher than a year ago, while leather has risen 11.5 per cent and hides at the moment are only 2.2 per cent higher. These com parisons are important because they dis close something of the grave dislocatlon of prices which inadequate consumption and combinations have produced. The output of pig iron March 1 was 1S9,5S3 tons weekly, against 198,5 ,599 February l. but the unsold stocks have risen 69,764 tops during the past month, or 17,444 weekly, and the unsold stocks of the great steel companies are not included. There Is reason to believe that actual consumption is still at least 10 per cent smaller than the production of pig, and the price of Bessemer at Pittsburg has again declined to $12.25, with exception ally large sales even below that figure. Prices of finished products are not quot ably lower, although all the markets are weak in tone. Of the minor metals, cop- per is in moderate demand at 11.12 cents and there is more movement in tin at 13.4 cents, while lead is slightly weaker at 3.15 cents. Tin plates are weak in part because of light demand. Cotton goods sell but slowly notwithstanding recent reductions in price, and the enormous &C., cumulation of stocks unsold causes ap- prehension In many quarters. In wool ems the demand is very largely for low grade goods and fierce competition af- fleets the prices of the better grades ma- terially. In clay worsteds the manufac- ture has been so far overdone and stop page of some of the most important works is considered not impro ba ble Sales of wool at the three chief markets aire the smallest in five years Prices are still maintained with a, decrease in Aus tralian supplies.
 The market for wheat is weaker with no better reason than the government re- port of wheat in farmers hands, which is altogether out of keeping with the gov ernment estimate a year ago, and yet is probab bly, more nearly correct.
 Corn is a shade firmer. Cotton gained @ sixteenth, although the prospect of yield this year is at least as good as has been at any time
 The stock market has not been much changed