The herald., 1896-02-08
Bradstreet's Report

BradStreet'S g tomorrow VIII say:
General trade waited the results OF sub
scriptions to the bond issue and the senti-
mental effects of the unexpectedly favor
able outcome have been for easier money
and improvement. Additional favorable
influences are found in heavier bank clear
ings, continued firmness of prices, sus-
tained demand for iron and steel, and the
announcement from st. Paul, Milwaukee,
Omaha and Des MoineS OF a revival in
business with jobbers in staple lines. At
the east, Baltimore and Pittsburg, report
favorable trade conditions. AT the south
gains in wholesale lines are announced
from Nashville, Memphis, Atlanta and Bir-
mingham.. The reverse includes the de-
pressing influences of stormy and wet
weather, Indifference of consumers of
domestic WOODEN dress goods; renewed
sales of print cloths and other marks of
cotton goods only after reaction in prices,
continuance of extreme conservatism in
almost all lines, and the fact that the re-
lief to the treasury by the heavy over
subscription to the bond issue, in the ab-
sence of sound currency legislation by con-
gress, will probably prove only temporary
device to maintain the gold reserve. Cen
trail trade at Chicago. st. Louis, Buffalo
and Philadelphia shows no real gains from
the preceding week, when the situation
was quiet, even to duilness, and the out
look unsatisfactory.
Exports of wheat - flour included as
wheat-from both coasts of the United
States this week amount to 2,907 900
bushels, against 2,55O,OOO last week.
The total number of business failures
throughout the United States. as reported
to Bradstreet's, is considerably smaller
this week. 333, as contrasted with 393 last
week, 203 in the week one year ago, 1886
in the first week of February, 1894, 223 in
1898 and 214 in 1892.
Bradstreets' review of the New York
rirn hot
lators seem to have overdiscounted the
successful result of the government bond
subscription. While no one in Wall street
or out of it realized that the total applca-
tions would reach the stupendous figures
they actually did, it was known by the end
of last week that the new loan would be
largely over-subscribed. The feeling of
astonishment. mingled with hopeful feel
ings for the future, which found express
aion when the extent of the bids was an
nounced, has created q bullish sentiment
and produced. some outside speculative
clique and traders who had purchased Sc
curities in anticipation of being able to
sell them on the market created
by the success of the bond issue,
realized profits on larger
mass of stocks Than the market was able
to digest. Prices rose during the early
part of the week. and there was a some-
what excited further advance on Wednes-
day afternoon when the outcome of the
subscription was first known. On Thurs
day, however, the market was held in
check by the realizing sales above referred
to, and the process seemed to be still in
complete on Friday. At the same time,
considering the narrow and professional
character of the recent improvement, the
market has displayed great steadiness and
an ability to take a heavy outpour of long
stock, which argues we'll for its future
stability. The market on Friday showed
more of disposition to advance, but ad-
vances were checked by renewed realizing
and short selling at the close