Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-11-14
DUN'S AND BRADSTREET'S
Weekly Trade Reviews Show
Business improvement.
THOUSANDS GIVEN WORK
By the fnIargementA Forces of Industrial
Ep'''s''
THE IRON 0u,9'T IS FAST INCREASING
And Plates "a Steel Bars are Up From
81 7 ,3 Per Ton-There is a
s'Sr'l Increased Demand
In All Lines.
THOUSANDS GIVEN WORK
THE IRON oU7o,T IS FAST INCREASING

New York, Nov. 13.-R. G. Dun & Co.
will say tomorrow In their weekly re-
view OF trade:
No one now doubts that the brighter
day is dawning, and it is the common
remark that never before has business
shown so great change for the better
In single week. To the change of con-
ditions and of spirit described last week
there has already been announced large
increase in the working force and in the
volume of trade, Dispatches telling of
about 500 establishments which have
opened or which have materially enlarged
their force, though they fill many col
umns, give only part of the facts for
throughout the country the gain has
been surprising even to the most hope
full
Foreign need of American wheat re-
mains an important factor and the price
has advanced to SS cents gaining cents
In one week, 10 cents for two weeks and
"a cents since early In September. The
price Is highest since June of 1892.
Many textile works have been start
ing or increasing force, mostly on orders
booked weeks ago. But there has not
been much gain in the demand noted yet.
After purchases of 46, 900 900 pounds of
wool in five weeks the transactions fell
to 6,243,700 pounds last week, but prices
were stronger and some grades l cent
higher and an even greater advance Is
demanded at the west while foreign mar
kets are higher, and Australian fully l
cent per pound. The market for cotton
goods is not yet active, but more liberal
estimat tes of the cotton crop are generally
credited, causing Nc decline to cents.
The output of iron furnaces In blast
Nov / was 124,077 tons weekly, having
been increased II 1856 tons, or 10 per cent.
in the latter part of October by confidence
in the future. All the markets were
stronger, although the enormous pur-
chases of pig iron in advance of needs
causes comparative inactivity at pres
ent. Plates and steel bars are 81 to 50
higher, and sheets in better demand
Anthracite and Bessemer pig have adj
vanced shade, and the average of
prices is 21ac higher The billet pool Is
in protracted meeting here this week to
decide upon its course, and Is still under
sold. The beam, bar, rail and wire nail
associations meet this week, and the un-
derselling of wire nails by outsiders has
gone so far that a decline of as cents Is
openly quoted. 1t Is noteworthy that the
prevailing expectation, Notwithstanding
the general Improvement IN business Is
that some, If not all these combinations,
will decide to reduce prices. The coke
combination, 1t now appears, has not pre-
vented large contracts for future de-
livery at less than 49, it's fixed price, and
even less than $1.75, but the output last
week decreased.
The change In the money market Is
striking. Instead of s25OO,O 900 going out
to the interior as before, $2,500,000 have
come in this week; instead of so cents dis
count, New York exchange at Chicago
Is at 70 cents premium; instead OF mer-
chants and manufacturers vainly hunt
ing tenders banks are hunting for more
commercial paper. Commercial rates are
down to cents on best paper. Foreign
exchange is higher, owing to sales of $4,-
900 900 governments taken by the Bank OF
England as a member of the syndicate
early in 1895, to payments of $4,000 ster-
ling loans and to foreign realizing of ST.
600 900 of securities, but all these are in
effect taking profits for confidence In
American honor.
Failures for the week have been 276 in
the United States, against 2S3 last year
and 46 in Canada against 49 last year.
BRADSTREET.
New York, Nov 3.-Bradstreet's to-
morrow will say:
The volume of business improved slow
ly in nearly. all lines. The most active
demand is among jobbers In dry goods,
clothing, millinery, shoes, leather and
hardware, and In leading Industrial lines.
nearly 200 mills and factories and foun-
dries having started up this week, one
tools, carriages, lumber, glass, woolen
and cotton goods lines. About 1870 other
Industrial establishments have increased
working force or working hours or both.
A partial record of the number of men
given employment In industrial lines
since Nov 6 shows an aggregate of near
ly 10000. Demand for iron and steel has
not increased after the activity of week
ago, but prices are firm-in some in
stances advanced-and the trade contin-
ues confident Of large business during
the coming year. Cotton and cotton
goods continue firm and unchanged In
prices Wool is higher on more active
demand, but manufacturers are not sup
plying in excess of wants. Other ad-
vances In prices are for leather. shoes,
white pine lumber petroleum, lard, su-
gar and for wheat, corn and oats. The
strength of the statistical position OF
wheat Is as marked as heretofore and
renewed inquiries are received from Aus
tralia. Western jobbers report an in
crease in mail orders, ard that between
seasons in some lines alone prevents i'm
provement In jobbing being general. Mer-
camille collections throughout central
western and southern states are easier,
but complaints are still heard from the
west
Bank clearings leaped up 20 per cent.
this week, compared with week ago,
the total being $1,190, 100000 compared
with the corresponding week last year the
increase Is only ! per cent October
railway earnings, rejecting ante-election
conditions make the poorest showing Of
any month for several years. The Oc-
tober total of 121 roads is S431495 $50, a
decrease Of 43 per cent. from year ago.
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