Birmingham state herald., 1896-09-05
BUSINESS OUTLOOK BETTER Dun and Bradstreet Agree in
 the Statement. CONFIDENCE IS INCREASING Higher Frees for Iron and Steel at Pttsburg
 and 5Es .E1-,s'' BANK CLEARANCE s'cRfAsE 10 PER CENT The Most Aoti Demand in the South Is at oharleSto Augusta Birmingham.
 Nash ie and New Orleans.
 F larures Have Increased.
CONFIDENCE IS INCREASING
BANK CLEARING. .stcHEAsE 10 PER CENT

New York, Sept. AR. G. Dun & Go. will say tomorrow in their weekly review of trade:
 Failures have been for the week 3S4 In the United States, against 1S6 last year, and 31 in Canada, against 3S last year. There is a distinct increase of conf- dence, due largely to the continued and heavy imports of gold, which have put an end to monetary anxiety, and also to political events, which are being closely watched. While 1t does not yet start more mills and factories than are closing for want of work, 1t crops out in heavy speculating purchases of pig iron, wool and some other materials by experienced men, who believe that a revival of busi- ness Is not far off, and for the first time in nearly two months a slight upward turn appears in prices of manufactured products.
 The same spirit appears in speculation. Stocks rose an average of $2.08 for rail- ways and $3.01 for trusts, with considera. ble covering of shorts.
 Wheat had suddenly risen week ago, but reacted with better crop news until Thursday, when another advance came of l cent. making the net decline for the week 19sc. Western receipts continued large, being 5,215,706 bushels for the week. against 4,450 104 bushels last year, mak- ing the increase since July about 12,- 100000 bushels, or 5S per cent. Atlantic exports are also large (fiour included), being 2,032,963 bushels, against 1,347, 352 bushels last year, a gain of 69 per cent. Gloomy stories find little support in such returns. Corn has reached at Chicago the lowest point ever touched-20 cents. which occurred in 1S61-and has again broken all records here, declining to 255s cents, at which 1t closed. Cotton fell to 7.87 cents, but with the revival of confidence rose to $50, although the prospect is clearly more favorable than some weeks ago. Estimates are still very wide apart, The New Orleans exchange puts the last crop at 7,757,346 bales, whereas official and unofficial predictions year ago were 100000 to 100000 bales smaller.
 After many weeks of decline so that the average of prices for iron and its products was the lowest since early last year. prices have started up a shade. Heavy speculative purchases of Besse- mer at the west and of southern iron ore here, the latter mainly by New Workers, at s6.40 for No. 2 and $5.90 for gray forge, have so strengthened the market that Bessemer at Pittsburg commands $1125 and gray forge $950. The various asso- citations have not reduced prices, believ- ing that it would not stimulate demand at present, which is extremely narrow, and as yet shows no improvement
 The starting of some wooden mills which have been idle and accommodating orders for short run is still balanced by the stopping of others, and the volume of orders does not increase. No gain as yet appears in demand or prices But a marked speculative buying of wool shows a belief that prices will Improve, and sales for the week were 4,377,0O0 pounds, of which only 555, 700 were foreign. much over half the domestic sales being of Texas and far western states at prices ranging from to 81A cents. Cotton goods are growing stronger, more grades having advanced and though sales are moderate, there are more buyers, indi- eating exhaustion of dealers stocks.
 The volume of trade indicated by clearings was for the week 10.7 per cent less than last year. Exports of mer- chandise for the week were 40 per cent and for the past month 16.4 per cent larger than last year, while imports for the week were 19 per cent smaller and for the month IS per cent smaller than las year.