The daily morning journal and courier., 1896-02-01
THE CONDITION OF TRADE
FEATURES CONTINUED RETARDED
 DEMANDS FOR RlIERCRANDISE,

Least Satisfactory is the Waiting Attitude
 of Some of the Important Industries-
 General Trade is Proving Disappointing
 in Many Western States.
 New York, Jan. 31.-Bradstreets to- morrow will say: The features of the week are continued retarded demand for merchandise and checked industrial operations. Least satisfactory is the waiting attitude of some of the more important industries. Shoe factories at Philadelphia are shutting down or run- ming on part time; cotton goods makers regard the outlook for their product un- promising; there is a reaction in the price of steel billets; among fifty pig iron furnaces in Pitttsburg and Shen- ango district fourteen are idle and the position of woolen goods manufacturers is shown by the fact that foreign woolen goods are relatively most active
 General trade at the close of January proves disappointing particularly in central western, western and north western states, where the movement of merchandise from jobbers has been slow and unsatisfactory, it being only fair at a few points. The volume of shipping goods distributed from Chi cago in January falls behind expecta- tion, although larger than in January, 1895. Some traders in territory tribu- ttary to Chicago are making orders small, owing to having carried over large stocks and ito a desire to confine purchases to actual requirements. At St. Louis spring demand is slow and general trade is characterized only fair by, the most sanguine. The condition in the northwest is such that grain moves freely in some regions irrespec- tive of low prices. A result of all this is shown by the cuts by New York, Chicago and St. Louis jobbers in prices on standard cotton goods which demor- alizes demand. Relatively most favor- able features of trade are found in the continued strength of prices of leading staples, the conservative attitude of wholesale dealers and, aside from the improvement in the outlook at Pitts burg and Baltimore the actual gain in demand for staples at Charleston, Att ltanta, Augusta, Chattanooga, Nash vile and Memphis. Prices for leather, lumber and wool remain unchanged. Anthracite coal closes at last weeks prices, but with prospect for higher quotations. Wheat flour, pork, lard and petroleum show no change. Ad- vances are practically for wheat, corn and oats, while reactions in quotations aside from those in cotton goods, are confined to southern pig iron, steel bil- lets, sugar and cotton.
 The movement of wheat and Indian corn from southern ports and the newly developed South African demand for flour on the Pacific coast remains feat ures at Newport News, Galveston, New Orleans, Tacoma and Seattle. Starting up the shingle mills and building of new ones tends to revive the demand for staple merchandise in Washington and Oregon farmers are holding wheat for higher prices, which the demand warrants the mills paying. The Superi- or iron ore allotment for 1896 appears assured, with 3,500,O00 tons as the share of Mesaba ores against 4,0000 900 tons of that variety produced last year.
 Exports of wheat (four included as wheaD from both coasts of the United States this week amounted to 2,550,OOO bushels, compared with 3,S49, 900 bushels last week, 2,4S3,0OO bushels in the week year ago. Exports of Indian corn amounted to 3,197,0o0 bushels, trif1e more than in the preceding week and more than three times the amount as in the week a year ago.
 An indication of the continued shrink age insthe volume of business in De- cemfber and it's extension into January is shown by the prolonged decline in totals of weekly bank clearings, that for this week-$S91, ,0O0, ,000-being the smallest since the last week in Novem- Der. per cent. less than last week, 5.5 per cent smaller than one year ago, al- though IS per cent. larger than in the week of January, '94.
 Business failures in the United States this week numbered 393 against S12 in the like week last year.
 The commercial situation at the more important cities in Canada shows no improvement. The movement for jeb- bers at Toronto is only fair and uncer- tainty is felt everywhere. Business ar Montreal is dull, and little improvement is anticipated in the near future. At Quebec City shoe factories are running full time, but other lines are quiet. At Halifax business is dull. Heavy show CTS in Newfoundland have interfered with business and destitution exists ow- ing to the failure of the frozen herring industries.