Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1896-12-19
WEEKLY TREND OF TRADE
Bradstreet and Dun Report Gen.
eraI Business Dull.
A GOOD HOLIDAY TRADE
But Only in Staples, Such as Candy, Nuts,
Fruit and Groceries.
PRICES STILL CONTINUE DOWNWARD
Demand for Cloths Far Below the Increased
Production-Stee Rails Take Big
Tumble Carnegie Will Build
Sixteen New Furnaces,

New York, Dec 1S.--Bradstreets to-
morrow will say:
Wholesale trade continues of smaller
volume than was expected, practically
the only activity in wholesale lines be-
ing in groceries, candies, fruits and nuts.
The weather has interferred with sea-
sonable business, which at many centers
is smaller than in preceding years, in
that a larger proportion of purchases are
of a cheap grade. There is q decrease i'm
demand at Atlanta and Seattle, but at
Nashville, Sioux Falls, Savannah and
Jacksonville jobbing lines remain quiet
and unchanged, with retailers of holiday
goods experiencing the only activity.
The%downward tendency of prices point
ed out a fortnight ago is continued.
This includes quotations for hides, which
caused boot and shoe jobbers to restrict
purchases. anticipating cuts in prices
for shoes; steel rails with a drop of $500
a ton owing to the dissolution of the
pool; steel billets with a drop of 1925 on
the failure of the combination and Bes-
semer pig iron5 owing to the general ten
dency of iron and steel. Cotton, too, is
lower on confidence in a larger crop than
was expected; print cloth, as product of
that staple, and because of the large
stock of the same; anthracite coal, In
dian corn, oats. and petroleum. Steady
or practically unchanged quotations are
reported for pork, lard, coffee and sugar
Wheat and rosn are higher At the
south the decline in the price of raw cot
ton may affect country merchants who
are still carrying that staple. An in
creased wheat acreage is reported from
California
Total bank clearings for the week have
not changed materially, increasing only
COlnnqrG6
week. When contrasted with the cor
responding period last year this weeks S
total shows a falling off of nine per cent.
There are 1853 business failures report
ed throughout the United States this
week, twenty-five fewer than last week
and twenty-six less than in the cores
ponding week one year ago.
New York, Dec. 18.-R. G.. Dun & Co.
will say tomorrow in their weekly review
of trade:
Cuban reports, unusual closeness of
money in Germany and the decision that
there will be no action on the tariff this
session have not really changed the situ-
alton, but have been talked about as If
thsy might change it. The holiday trade
is generally large, though at some points
more confined to cheap goods than usual,
and the influence of an increase in the
working force is felt in other ways. But
until the new year the only aterial
changes expected are such as prepare for
a large business next year. In the iron
and steel industry these appear of the
utmost Importance.
Exports of cotton are ma aturally stimu-
lated by lower prices and with forced
liquidation of important speculatives op-
erations cotton has declined to 712c, re-
covering to 7.19c. July 10 the price was
7.06c; short crop stories raised it to 887c.
September 10 and it has now gone back
about to the starting point Receipts
from plantations continue heavy while
commercial stocks here and abroad are
only about as large as a year ago, when
the movement had been 100000 bales
less. The demand for goods in this coun-
try falls below the increased production,
and the market is weak in tone, with
prices of some tobbers beached goods
sharply reduced. Speculation in wool has
halted.
The control of the mountain iron of
Messabi mine has been leased for fifty
years or purchased by the Carnegie in
terest from Mr. J. d. Rockefeller the ore
to be shipped by his new steamship line
on the lakes and by the new railway
which the Carnegie company is building
to Lake Erie. This with the erection of
sixteen new open hearth furnaces, MAX
ing thirty-siX, ensures enormous increase
Of product at extreme low cost, and will
affect all combinations in steel products
or in ore. The billet pool has practically
dissolved and sales are reported at SIG
to ST. the contracts to supply consum-
ers through most or the whole of next
year. The beam pool has revived and
restored the price to $1.55, but nails and
steel bars are shade lower. The Rail
association has been in session and our
Philadelphia dispatch states that rails
are sold at $25, against $2S so long main
tained. Bessemer pig and grey forge are
a shade lower al Pittsburg. Virginia and
Alabama iron are offered % cents lower
at the east, and with SO much uncertain
ty regarding great changes in progress
very little is done in finished products
and generally at concessions sale of
5000, 600 pounds of lake copper is reported
at 11k cents. Coke production is increas-
ing with contracts reported at $780,
Failures for the week have been 387 in
the United States against 377 last year,
and Al in Canada, against 80 last year.