Birmingham state herald., 1896-12-05
WEEKLY TREND OF TRADE Dun and BradStreet'S Review of
 the Situation. A Is fRONGER CONFIDENCE ~ y 2 on Industries Found in Abandonment of Two Large Combines.
 
THOUGH PRICES ARE STILL VERY LOW
Cotton Goods Selling Better-General Re- vival of Business Not Expected This Year-Heavy Decrease in Bank
 Clearings - Failures.

New York; Dec. AR. G. Dun & Co. will say tomorrow in their weekly review of trade: The classified failures for No- vember, given today, show gratifying re- duction compared with October, and are especially important as showing that the peculiar disturbance during the presiden- tial campaign, which swelled failures $36, 900 in August and September did not prevent quick return to a monthly agreement scarcely greater than that of May. Defaulted liabilities in eleven months have been $19S, ,73S, ,459, against $14S,544,202 last year. the increase being only $14,000,000 outside of those two months and this remaining increase of only 10 per cent. was also partly due to the alarm during the campaign. The de- cline of failures to about 40 per cent of the September aggregate gives stronger ground for the confidence so generally ex- pressed.
 Ground for confidence is also found in the abandonment of two of the largest combinations by which the iron indus- try has been retarded, and the possibility that two others will be abandoned. Such state of things within a month after the election suggests that these organiz- ations, formed when depressed business failed to support all the works In exist GlicG, are HOl eApeCleu lO SuTNlNe Ren- [ eral revival and ample demand for products The immediate ef- feet of breaking prices Is to check large buying of iron and steel pro- ducts, but it will soon be seen about where prices are to range. At present the base price for wire nails is $1.25, against $255 two weeks ago. with greater reduction on small sizes because new cards reduced "extra" charges. Beams are selling at $1.35 against $1.55 two weeks a pn thpra of bil1atc ha1pur the fixed price. The bar combination is still undersold by steel bars at II cents and nothing Is doing in rails, because the meeting shortly to be held will settle whether any price shall be fixed for next year. Bessemer pig at Pittsburg is lower at S11.65 and grey forge at s10, but there is large demand for vessel plates, both on foreign contracts and for the lakes. Several thousand cars have been ordered and numerous new buildings and bridges. The 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 manufacture is waiting and while more concerns are at work, the new demand improves but little with favorable weather.
 In the cotton manufacture there is little change though. goods are selling better, but with many added works the production exceeds the present demand.
 The market for raw cotton Is weak. With over 4,750,000 bales in sight for De- cember l. when the crop is usually about half in sight, current estimates would leave only 3,500,000 more to come for ward in nine months and the larger con- sumption in mills does not advance prices.
 The volume of business shown by clearing house returns was for the past week nearly 1 per cent. over last year and for the month of November per cent. and Il per cent. less than 1892, the comparison being the best for the past five months.
 Failures for the week have been 379 in the United States against 324 last year and in Canada 55 against 52 last year.
 BRADSTREET'S REVIEW
 New York, Dec. 4.-Bradstreet's to- morrow will say: General trade con- tinues in moderate volume, jobbers and wholesalers being agreed that there will be no business revival this year. There Is some activity in holiday goods. Rains and stormy weather south and cold and severe weather west and northwest, have checked traffic on interior country roads and otherwise interferred with the dis tribution of merchandise except at some northwestern centers where more seas- enable weather has stimulated the de- mand for heavy textiles, clothing, hats and shoes. Throughout the central Mis- sissippi valley there has been no in- crease in demand in wholesale lines, and at the south trade is characterized al dull.
 Sales of open-hearth steel have been made at parity with grades which hava been considered cheaper; nails have again reacted on the dissolution of the pool tin plate prices have been cut, and Bes- semer pig iron has sold down 15 cents a ton.
 The weakness in hides continues and prices are lower, though thus far with out effect on quotations for leather. Pe- troleum prices have reacted, and quota tions are lower for coffee, lard oats and corn. No material change is reported in prices for pork, print cloths and lumber while those for turpentine, tobacco. cot ton, sugar, wheat and four are all higher.
 November bank clearings reflect the speculative activity since the election. Compared with months immediately pre- ceding, the showing is a good one. only once before in thirteen years has the No vember total exceeded that for October, and with the exception of January the November total is the heaviest for any month this year. But in spite of this, the total November clearnes were small CT than year ago, and. with New York excluded, quite heavy falling off Is re- ported The total clearings at sixty-six cities for November aggregate $4,564, ,307,- S04, decrease from year ago of 2.8 per cent Outside of New York the total clearings at all cities fell off nearly Il per cent. from a year ago. Only two large cities in the country show increases New York, with 3.6 per cent, and Bal timore with 4.3 per cent.
 There are 359 business failures re- ported throughout the United States this week, which Is an increase of 63 as com- pared with last week, and A as compared with the corresponding week one year ago.
 JOSEPH JAMES CHEESEMAN.