The times. [volume] (Richmond, Va.) 1890-1903, 1896-12-05
REDUCTION IN FAILURES.
4 GRtTfFYING SHOOTING As COM
PARED WTTH OCTOBER.
Severe Weather Checks Traffic In the West
and Northwest-November Bank Clear
ings-The Iron Market.

will say tomorrow in their weekly re-
view Of trade:
The classified failures for November
given to-day show gratifying reduction
compared with October. and are especial
~ important as showing that the pccu-
liar disturbance during the Presidential
campaign which swelled failures $1,000
60 in August and September did not
prevent quick return TO a monthly ag-
grcgate scarcely greater than that Of
May. Delaulted liabilities in eleven
months have been Sl9S. as. 80 against
sliS54i,202 last year. the increase being
only Sl4oov.O00 outside of those two
months. and this remaining increase OF
only ten per cent. was also in part due
10 the alarm during the campaign. The
decline OF failures TO about forty per
cent. Of tho September aggregate gives
stronger ground for the confidence so
generally expressed.
Ground for confidence is also found IN
the abandonment of two of the largest
combinations bv which the iron indus
trv has been retarded and the possibility
that two others will be- abandoned. such
a state OF things within "A month after
the election suggests that these organize
lions formed when depressed business
failed to support all the works in eN-
istence. are not expected 10 survive
general revival and ample demand Tor
products.
IRON AND STEEL PRODUCTS.
The immediate effect OF breaking prices
is 10 check large buying of iron and steel
products. but ID will soon be seen about
where prices are 20 range. AZ present
the base price for wire nails rs sl-9 against
sos TWO weeks ago, with greater reduc-
tion on small sizes because new cards
reduced extra" charges. Beams are
selling M Sl.5j against S-55 two weeks
ago. and there are sales of billets below
the fixed price. The bar domination -
stHl undersold by steel bars at III cents,
and nothing is doing I'm rails because the
meeting shortly 10 DE held viii settle
whether any price shall Doe fixed for next
year Bcsscmer pig and Pittsburg i7
lower M SllGJ. and gray forge at $40. but
there Us large demand for vessel plates.
both ON foreign contracts and for the
lakes. Several thousand cars have been
ordered. and numerous now buildings and
bridges.
Tho coke combination has changed IT'S
method so that contracts are openly made
below prices recently ruling. and there
| Is some partition of consumers among
the producing interests. Wool manufac-
ture is waiting. and while more concerns
are az work. the new demand improved
but little with favorable weather.
In the cotton manufacture there is
little change. though goods are selling
better. but with many added works pro-
duction exceeds present demand
The market for raw cotton is weak.
| With over 10000 bales I'm light bv De-
ccmber lst when the crop is usually
about halt bon sight. current estimates
would leave only 3.5o0oo0 more 10 come
forward i'm nine months. and the lar,,4r
cousumptiou i'm mills does NOT advance
prices.
The volume of business shown bv clear
ing-house returns was for the past week
! nearly one per cent. over last year. and
! Tor the month OF November 3 per cent,
| and n per cent. less than 1872 the com
parison being the best for tue past i've
| months.
Failures for the week have been so
| IN the United States against "a last year
and IN Canada 80 against ~ last year.
BRADSTREETS.
| NEW YORK, Dec. 4-Bradstrcets to-
| morrow will say:
General trade continues in moderate
| volume, Jobbcrs and wholesalers being
| agreed that there will De no business re-
| viyal this year. There is some activity
| in holiday goods Rains and stormy
weather south. and cold and severe
| weather " est ana Northwest nave fucck-
ed traffic ON interior country roads and
otherwise intertcrei with the distubu-
! ton of merchandise except at some
| northwestern centres where more sea-
sonable weather has stimulated the de-
mand for heavy textiles. clothing and
| hats and shoes Throughout the central
/ Mississippi valley there has been ro iu-
! crease 300 demand in wholesale lines. and
| az the South, trade is characterized as
dull.
sales Of open hearth steel have been
made at "a parity with grades which have
! been considered cheaper, nails have
again reacted on the dis OlutlOn of the
pool. tin plate prices have been cut and
Bossemer pig iron has sold down to 10
cents "a ton. The weakness in hides con-
tinues and prices are lower. though thus
far without effect on quotations for leath-
en- Petroleum prices have reacted and
quotations for coffee are lower than lard