The record-union., 1896-05-02

NEW YORK, May 1.-R. G. Dun &.
Company will say tomorrow in their
weekly review of trade:
Failures for the week have been 23S
in the United States, against 2o1 last
year, and 81 in Canada, against 81 last
year.
AS the season advances there is more
business, but advices indicate that on
the whole the prevalent feeling is that
the gain is less than there was reason
to expect, while retail trade has been
active enough to materially lessen
stocks and obligations, and thus to pre-
vent a great many threatened embar-
easements. 1t has not yet brought
enough new business to mills or fac
tories to prevent decrease of untitled
orders and the closing of some of the
works.
Substantially the same state of things
exists in all the great industries, not
withstanding the strong combinations
in some, and evidence of inadequate con-
sumption appears in the fact that the
general range of prices Of commodities,
farm and mine as well as manufactured
products, is nearly 1 per cent. lower
than it was April 1st, and the lowest
ever known, the decline since October,
1892, being 16.7 per cent.
Nor can this be attributed to scarcity
Of money, which is easier and more
abundant as the liquidation of many
dealers lessen outstanding obligat tions.
Foreign operations have been of no in
fiuence in American securities, but
shipments of silver have again been
large. Stocks have remained practic-
ally without change.
Speculation has raised cotton an
eighth, though receipts and crop pros
poets still favor lower prices, and ac-
cumulated stocks of unsold goods are
very large.
Wheat has declined Az cents for cash.
With only two months of the crop year
remaining, there is little to encourage
higher prices.
Silk has weakened a little, owing to
the overlooking of japanese dealers.
Wool is weak, the wool year closing with
the greatest quantity of wool on hand
ever carried at this season. Woolen
goods have not improved in demand,
and f1annels have opened ) to 15 per
cent. lower than last year. The material
decrease of production has given to
tone.
Dress goods are higher by the re-
striction of foreign imports, but reports
are that on the whole wool machinery has
not been more than half employed. Some
cotton mills have ceased production, in
Guiding some large printing establish
ments, and stocks on hand still increase.
though for brown goods there has been
rather better legitimate demand, and
great quantities of ginghams have been
moved by drives at prices low beyond all
precedent
There is fair demand for boots and
shoes, though not enough to prevent
gradual exhaustion of orders filled but
the only change in prices has been the
slight advance in some qualities
Leather is weaker. with a very narrow
demand. and quotations average a
shade lower. as do prices of hides.
Purchases of lake ore by the principal
consumers. contracts securing low
phosphorus ore and lower rail rates to
Chicago for Connellsville, in order to
compete with Pocahontas rates. are the
main features in the iron industry. but a
revival of demand is yet deferred.
Higher prices for nails have caused
active buying for the week, but large
consumers decline to contract as vet
for bars, and the rod combination has
fallen through. Middlemen still sell steel
billets at $40 at the Pittsburg against
so asked by the pool, but the stock
available is said to be only 10000 tons.
Structural prospects are good, but in
other branches the demand is less active
and Bessemer pig is weak at S13 at
Pittsburg. The anthracite coal COM
panies have advanced the price 25 cents
ppr ton