The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1896-05-23
THE CONDITION OF TRADE
BUSINESS failures RAVE FALLEN
OFF MOST SHARPLY.


OFF MOST SHARPLY.
General Trade Throughout the Central
West Has Not Met Anticip ons-Highe
Prices for Tin and Havana Tobacco.
New York. May 22.-Bradstreets to-
morrow will say:
The reactionary tendency in prices.
shrinkage in railroad earnings, the fall
ing off in bank clearings and the fact
that the present constitutes the begin
ming of the between-season period in
clude the more conspicuous features Of
the general business situation. On the
other hand, business failures have fall
en- off sharply.
The most favorable report is from
Kansas, where the movement continues
relatively quite active. Mercantile COL
lections are fair and trade prospects
were never better. Improvement is also
noted on the Pacific coast, due to the
weather, which has rendered the crop
outlook favorable and stimulated pur-
chases in staple lines. The boot and
shoe industry is conspicuous in that
demand has revived sufficiently to fur
nish most Of the factories with orders
for some time ahead. The falling off in
the movement of merchandise in Neb-
| raska and other western states, owing
to prolonged rains, has been offset else
where by improved agricultural condi-
tions because of rains. In addition to
higher prices named are those for tin
and Havana tobacco, the latter due to
action taken by the Spanish captain-
general in Cuba looking to prohibiting
exports of tobacco from the island.
There is no improvement in demand
for or price of WOOL and manufacturers
are induced to purchase only by price
concessions. Warmer weather helps re-
tailers of dry goods, but has not con-
tinued long enough to stimulate whole-
sale demand. The iron and steel indus
tries report a moderate increase in re-
quest for raw material, but not suffi-
cient to strengthen prices or encourage
makers as to an increase in the output.
Jewelry manufacturing is restricted.
At the south the most encouraging
report comes from Savannah, where ex-
and others have resulted In an increas-
ed volume of business among whole-
salers. Georgia, South Carolina and
Tennessee truck farmers complain that
want Of rain has injured the crops.
Wholesale merchants at Galveston are
not pushing business and report the de-
mand unusually light. General trade
throughout the central west has not
met anticipations. Clothing orders have
dropped off two weeks earlier than usual
at Chicago, and the run Of orders for
dry goods there is light.
A more favorable report comes from
st. Louis--that clothing, hardware and
groceries are being sold in increasing
quantities for fall delivery. Detroit
and Milwaukee business interests are
suffering from strikes, respectively in
the building and street railway lines.
On the Pacific coast the price Of pota-
toes has doubled, owing to damage to
the California crop by frost. Seattle
is to ship large quantities of cedar
blocks to Indianapolis, while TACOMA $
shingle shipments east for four months
are larger than in the corresponding
period of 1895. A vessel loaded at San
Francisco with wheat this week for
Australia and another for South AT
RIGA.
Decreases in prices Of staples are for
wheat flour, wheat, Indian corn, oats,
lard, sugar, live hogs, petroleum and
foundry pig iron. Practically unchang-
ed quotations are reported for pork,
coffee, cotton and print cloths Ex-
ports of wheat (1our included as wheatJ
from both coasts of the United States
this week amount to 100000 bushels,
as compared with 2,754,000 bushels In
the week year ago.
Bank clearings aggregate $991,000,00O
throughout the United States this week
"a falling off of 27 per cent. from last
week, and 1913 per cent. from the total
in the third week Of May, 1895, but an
increase of 16 per cent. as compared
with the corresponding total in 1894.
The total number of business failures
throughout the United States this week
shows marked falling off from the
weekly average during the past four
months, being 2t6, as compared with
265 last week and with 206 in the like
week of 1895.