Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-09-19
BRADSTREET'S IS BULL|SH
While Dun lncIineS to the Bear
iSh View.
IMPROVEMENT CONTINUES
Says the Former, and Is Emphasized by Fur
tF'r Speculative Purchases.
SMALL IN IN THE VOLUME OF SALES
Iron s'steel Prices Are Firmer in Expec-
Son of Revival-Money Markets
Syomewhat Less strlngent-Better
Z Conditions at New Orleans.
M
l. IN IN THE VOLUME OF SALES

New York. Sept. 1S-Bradstrcet's to-
morrow will say:
The moderate Improvement in trade the
past few weeks continues, and is empha-
sized by further speculative purchases of
wool. renewed buying by wool manufac-
turers the reduction of surplus stocks of
cotton goods, increased demand for sea-
sonable fabrics, continued confidence
among manufacturers of iron and steel
that there will be an early revival in de-
mand and improvement in request for
staple goods in the South Atlantic and
gulf states.
The volume of sales of general mer-
chandise shows a small gain over last
week, and the feeling among wholesale
merchants is one of more confidence In
comparatively early improvement.
Unexpectedly large sales of dry goods
are reported from Boston, Chicago and
st. Louis, with indications that they may
continue throughout the month.
The gain at the south is due to the
rapidity with which the cotton crop is
being gathered and marketed New Or
leans reports banks lending more freely
than anticipated, and the outlook conse-
quently more encouraging.
More cotton mills are starting up, but
there is relatively less improvement in
woolen goods, varieties which sell well
being the exception. Shoe manufac-
turers report little doing beyond selling
samples for spring delivery, and few case
orders are likely until after the election.
Mercantile collections are almost uni
versally slow, some centers reporting
them almost impossible to make. The
money markets are somewhat less strin-
gent, but rates. continue high.
Iron and steel prices are frmer in the
expectat ton of revival after election,
and quotations of leather are firm on the
advance in hides. Sugar and cotton quo-
tations have been lower.
The total number of business failures
throughout the United States this week
Is 315, which is seven more than last
week, ninety-seven more than in the cor
responding week last year, ninety-seven
more than IN the like week of 1894, thirty
one fewer than in the corresponding Pc
riod of 1893 and not quite twice as many
as in the like period of 1892 The in
creased propoft ton of the number of fail
ures OF concerns with large capitalization
continues noticeable.
Dun's Review.
New York, Sept. 1s.-R. G. Dun & Co. in
their weekly review of trade tomorrow
will say:
There is still no distinct improvement
in business, although conditions favor it.
Confidence slowly rises, speculative buy
ing of materials for future use continues,
imports of gold do not cease and the
Bank of England has not tried to check
them by further advance in rates, as the
weight of the demand now falls upon
France. But an enormous business s
held back until the future is more clear.
outside of speculative markets the inn
preston grows more certain that safe re-
vival may not be expected until Novem-
bsr
In cotton, hides, wool and pig iron
buying openly, speculative in character,
marks the current business.
Resumption of work by a good part Of
the Fall River cotton mills and advances
in some kinds of cotton goods helped to
raise the price of middling uplsnds to
87sc again. though realizing sent il down
to SIC. The favorite speculative esti-
mate, which was about 100000 bales N
error year ago, alarmed many by nam
ing 100000 bales as the minimum and
100000 as the maximum, range VIDE
enough in itself to suggest doubt but
either quantity with stocks carried over
is more than the world has ever con-
sumed.
The one industry showing an increase
of working force is the cotton manufac-
ture, restriction of output having Sc
cured more healthy demand for some
goods. Most of the mills have started or
are about to start, though the uncertain
ty of the cotton market embarrasses.
Prices of staple goods have advanced 50
generally that the average of representa-
tive quota tions is 81 per cent higher than
in the first week of August.
Inc IRON ana steel iudHuldC'uie alc
still waiting for business with nearly
half their producing capacity idle, but
hopefulness and the speculative buying
of pig iron sustains prices Sales said to
amount to $4,000 tons have been made or
Alabama iron for shipment to England,
but the home demand does not enlarge
at all and the various associations still
hold combination prices, though the de-
mand is remarkably slender.
Gold imports continue, over $5,O0O.000
having been ordered making $36, ,3S5,0O0
In all, of which about $24 $50 600 has ar
rived. The interior movement draws Off
the money about as fast as II comes, $4-
$4,000 having gone westward this week.
The New Orleans difficulties have passed
away, but the northwest Is making large
drafts.
Recent heavy failures increase the eau
tion of banks. and while more CONNER
cial paper is offered. the ruling rate of
per cent greatly retards increase in bus
mess.
Failures for the past week have been
3t7 in the United States, against 2l3 last
year, and 80 in Canada against 32 last
year.