Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-06-20
STREAK 0 LEAN,
STREA o FAT
But the Lean SECS Are the
ThiQ Sst'
FAILURES AL SVE AVERAGE
Bank CIearings, on the Other Hand, Are l0.6
Better Than Last Week.
SOUTHERN NO. / ST BELOW PENNSYLVANIA
Bradstreet's Summary Is Conservative,
While Dun's Is Tinged With "Gold-
en- Light''-The Situation As
Outlined.
FAILURES AL svE AVERAGE
Bank CIearngs, on the Other Hand, Are l0.6
Better Than Last Week.
iOUTHERNNo / s. BELOW PENNSYLVANIA

/
| morrow will say:
A national presidential convention in
| the opening week of the between-seasons
| period of dullness explains the increased
| restriction in the volume of general
trade. In Industrial lines there is no i'm
provement. In iron and steel prices of
some varieties tend lower, and buyers
manifest little interest as to require
ments Present activity among dry
goods jobbers is confined to working off
odd lots preparatory to stock-taking.
Manufacturers of cottous have cut
quotations to attract buyers, and while
there is increased activity in f1annels
for fall delivery, recently opened fall
prints have found few buyers Manu-
facturers of woolens are reported more
hopeful and to be making inquiries as to
supplies of raw material, but quotations
for wool at the interior are still above
a parity with seaboard prices.
At eastern centers the lumber trado
lS.s been disappointing. At Baltimore
general trade is very dull, although
some merchants are preparing to serS
travellers south.
Crop prospects in Texas are unfavor-
BILE, owing to lack of rain, but quite sat-
isfactory in South Dakota and west into
Washington. Relatively the most favor
able trade report of the week Is from
Chicago, where inquiry for iron and steel
has increased, and specifications for work
are coming forward more freely. This
has created better feeling. and the
business outlook there is more favorable.
Chicago jobbers In dry goods, clothes
and shoes report fair sales for fall de-
livery, and packers have made heavy
sales of hides at the best prices of the
year.
Business failures throughout the
United States continue to run somewhat
above the range in like weeks in pre-
-ceding years. The total reported this
week is 265, compared with 234 last week
and 231 In the week one year ago.
There Is a moderate increase In bank
clearings throughout the United States.
which amount to 81 OBS, ,000, 900 this week,
an increase of 1915 per cent over the pre-
ceding week, but decrease of 3.7 per
cent as compared with the correspond
ing week one year ago.
Dun's Review.
New York, June 19-R. G.. Dun & Co.
will say tomorrow in their weekly review
of trade:
Failures for the week have been 276 in
the United States against 22S last year,
and 28 in Canada, against 81 last year.
There are continued signs that
gain In business has begun,
Stocks have gone higher than they were
before the artificial break ten days ago,
and wheat and cotton are in better de-
mand. There Is more confidence In mon
etary circles, and the tendency towards
shrinkage In great industries seems in
some measure, at least, to be checked.
While the outcome of the democratic
convention is uncertain and the great
crops are not yet wholly beyond danger
"a sure and strong Improvement could
hardly be expected but the tone in busi-
ness circles has grown distinctly more
hopeful.
The boot and shoe industry not only
holds its place as the most prosperous of
the great industries, but reports some
gain both in orders and in prices.
Textile manufactures do not gain. The
only change In cottons is a reduction in
bleached shirtings in standards to the
lowest price ever reached, though the
change discoses no new weakness, but q
belief that the time has come when sales
can be affected by reduction, and large
sales are now reported. Stocks of deal
ers are so low that replenishment would
now make a great change in the condi-
ton of the industry.
The waiting in iron and steel brings a
slightly lower average of prices, the
| lowest since April l, and only is per cent
| above the lowest of the year, though
| the combinations make no change in
| quotations. Beams are quoted delivered
| instead of at mill, but numerous con-
| tracts are kept back; consumption of
| wire nails at current prices has so de-
| cined that American wire rods are Of
! fered at competing prices In England;
! scarcely anything is done in iron bars
| because steel bars are Lie. The bill
| let pool is still undersold about 81 by
middlemen, while many works are put
| ting up steel plants of their own. Plates
| are weak and also sheets, and orders
| for rails, though numerous, are not large.
| Southern No. Is offered 81 below Penn
| sylvania pig, and gray forge is 10c lower
| at Pittsburg. Since coke was advanced
| to 50 per ton the ovens at work have de-
! creased 33 per cent, and the weekly out
| put is 60,4G3 tons or 35 per cent.