Birmingham state herald., 1896-09-12
Dun's Review.

oui IhcFloW.
 New York, Sept. 1l.-R. G. Dun x Co. in their weekly review of trade tomorrow will say:
 Better prospects and relief from mone- tary anxiety do not yet bring larger de- mand for finished products, though large buying of pig iron, wool, leather, hides, cotton and other materials continue to show a growing belief that a general up- ward movement in prices will come with the replenshment of dealers stocks this fall. Most prices are extremely low, so that nothing more than an ordinary de- mand would advance them. But bank failures at New Orleans cause temporary hesitation; crop returns indicate disap- polntment in some cotton and some spring wheat states; prices of corn and oats make it unproftable to sell al pres ent; the number of manufacturing works and mines in operation does not gain, but rather decreases reductions of wages are somewhat numerous, occasionally resist ed by strikes, and all these conditions di- mlnish for time the buying power of the people. While many think general im- proVement cannot come until the elec- ton has removed political uncertainties, others expect soon to see the result an- ticipated in trade.
 The weekly output of pig iron decreased 26,57S tons in August to 13O.500 tons, against PIT, 300 in November. a shrinkage of 40 per cent. other works still have stopped since September began. Unsold StOckS 1ncfeaSeu bz,U0f tons III August, exclusive of those accommodating Tn the hands of the great steel companies.
 The sales of wool for the week have about equalled the normal consumption for the first time in several months, not because manufa cturers have more orders or are doing more work, for no gain is seen In the demand or output. The buy ing is mainly speculative, based on the belief that prices must advance.
 No considerable decrease appears in the enormous stock of print cloths, al- though the output has been reduced about one-half for two months and one fifth of the years production remains in the hands of the makers, but they have advanced the price 3-16 during the week. For other goods there Is a better demand, and manufacturers have advanced prices because of the rising cost of material, the average for all cottons having risen 5.3 per cent since August 6, but stocks of many kinds are large.
 The Financial Chronicles annual re- port issued today makes the last crop of cotton 7,162473 bales, the consumption north and south 2e95. .S10 and the exports 4,712,912 during the year. No account of southern mill stocks is attempted and no estimate is yet given of the crop now coming forward. Accounts of dsap- pointing returns in spring wheat states are numerous, but it is difficult to recon cile short estimates with heavy market ing at low prices Corn is almost wholly out of danger and the year is generally expected 10 be the largest, as the price here is the lowest ever known. The tide of gold imports still runs strongly this way. further engagements lifting the aggregate to. 2S,62O, GOO, of which $23 172050 have arrived. The pros pect led the Bank of England to raise it's discount rate from to 21s per cent, and some selling on foreign account followed in stocks. The New Orleans bank fail ures were followed by unusual offerings of cotton bills and the interior demand for money also increased. the net outgo being S3.250.000.
 Liabilities in commercial failures for the first week of September were S4 ,035,- 800, against s2,157.751 last year. s153S,539 in 1894 and $5,31909s in 1893. Failures for the week have been 315 in the United States, against 1SS last year, and 47 in Canada, against A last year.