Birmingham state herald., 1896-01-25
WEEKLY TRADE REV|EW The Reports Show Considerable
 lrreguIarity in Trade. tW00LEN GOODS ARE LOWER Cotton and Cotton Goods Are Just About at
 StandstiIl.
THE IRON MEN FIND ENCOURAGEMENT
Was One of the Shortest on Record All Arrangements Are Made for
 the Bond Issue.

New York, Jan. 24-R. G. Dun & Go. will say tomorrow in their weekly review of trade:
 Failures for fifteen days of January have shown liabilities amounting to $12,- 53S,617, against $7,5O1, ,209 in seventeen days of last year. and $13,65S,990 in eigh- teen days of 1894 The failures for the week have been 373 in the United States, against 363 last year, and sixty-one in Canada, against fifty-nine last year. The week has been marked by improvement, apparent rather than real. Prices of some products have risen, but only be- cause supplies are believed to be smaller than was expected.
 Prices of pig iron and billets have risen, but because coke and ore have been made dearer, and not because of any better de- mand for finished products. Money has been easier, but only because more has been borrowed from Europe at time when the actual balance of trade takes money hence to Europe. The senate still injures all business by doing nothing. and the treasury cannot expect to gain in gold as yet, but loses less than was ex- pected. It was generally assumed that the new loan would be placed without difficulty. Business at the mills does
 
 houses for the week are 65 per cent larger than last year. but 29.3 per cent less than in 1893, being less satisfactory than Tor a long time. Textile industries do not gain. With materials practically unchanged, they halt because the demand for future delivery is so narrow. Cotton manufac- turers have for months been storing up staple goods but prices have gradually declined ever since October IF, and now average GA per cent lower than at that time Woolens also tend lower, with small demand, and are practically at the prices of year ago, though wool IS higher.
 The iron and steel business finds en- couragement in the advance of Besse- mer pig to $13 at Pittsburg and gray forge to $1125, but these are results Of ths advance ordered pys comeanss , s,a ,. cohe ,he east, and Southern pig is pressed for sale. Finished products are not stronger, while pig iron has advanced 10.9 per cent since January 1, prices of finished products av- craze IT per cent lower than at that time. The demand is plainly too small for the supply, and the works in opera tion are killing the profits for each other by underbidding. In such case lower prices for pig, ore and coke would seem inevitable, but last year the raw mate rials hoisted everything else, and some expect the operation to be repeated. While thirteen furnaces in the Pittsburg region have stopped since January l, the demand for the products of iron has not on the whole increased, partly because the bar. nail and rail associations have all refused to lower prices.
 Bradstreet's Review.
 Bradstreet,s tomorrow will say:
 An analysis of special telegrams from the more important business centers throughout the country shows ccnsidera- ble irregularty in trade, the most favora- ble feature being the tendency of staple prices to advance.
 There is interest attaching to the an- nouncement that ten car loads of Mobile cotton are at Tacoma awaiting shipment to Yokohama. The fear of disturbance in the money market as the result of sub scriptions for the new government bonds has been greatly modified and time mon- ey Is offered more freely. London has inclined to buy stocks and short covering has helped the advance. The stock mar ket is however, narrow and professional. Foreign exchange is dull and less firm at $486. Gold shipments for the week are $2, ,5OO,0 GOO. No gold exports are announc- ed by Saturdays steamers. Gold im- ports for bond subscription purposes were $1, ,150, ,000 The premium of %@B per cent for gold or legal tenders for use in the same connection is still quoted, but transactions are less important. It seems that bidders for the new bonds
  ments.
 The falling off of seventy-one business failures in the number reported from the United States this week, the total being only 341, compared with 412 last week, is somewhat unexpected, but no less favor a ble. for, compared with this week one year ago, 312 the contrast is less marked, In the corresponding week of 1894 there. were 33S failures, three less than this week. and in a like, week of 1893. at pc. riod when business was of large volume and considered prosperous, the total was 302 Most favorable reports regarding the movement of merchandise, present and prospective, come from Baltimore, where orders are being, received freely, and prospects for spring are bright from Buffalo, where the money market IS re- ported more active than for two years past, and from Charleston, where almost all leading jobbers report an improve ment in business.