Birmingham state herald., 1896-05-02
WEEKLY TRADE REVIEW: Dun and Bradstreet Tell the
 Same Old Tale. PRICES ARE STILL FALLING One Per Cent Lower Than on April 1.-The
 Lowest Ever Known. MUCH SILVER IS BEING EXPORTED Quotations for Southern Pig Iron Have Been Cut and Cotton Goods Are De-
 pressed-Bank Clearings Fell
 Of 8 Per Cent Last Week.
MUCH SILVER IS BEING EXPORTED

New York, May 1-R. G. Dun & Go. will say tomorrow in their weekly review of trade:
 Failures for the week have been 23S in the United States, against 231 last year, and 31 in Canada, against 34 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 ex- pect. While retail trade has been active enough to materially lessen stocks and obligations, and thus prevent great many threatened embarra sments, 1t has not yet brought enough new business to the mills or factories to prevent a de- crease of thrilled orders and the closing of some works. Substantially the same state of things exists in all the great in- dustries, notwithstanding the strong combinations in some, and evidence of inadequate consumption appeared in the fact that the general range of prices or commodities, farm and mine, as wei, as manufactured products, is nearly per cent lower than it was April 1, the low est ever known, the decline since october, 1893, being 16.7 per cent. Nor can this be attributed to the scarcity of money, which is easier and more abundant, as the liqui- dation of many dealers lessens outstai1d-
 
 been of no influence in American securi- ties, but shipments of silver have again been large. Stocks have remained prac- tically without change. Some cotton mills have ceased production, including one large printing establishment and stocks on hand still decrease, though for brown goods there has been better le- gitimate demand and great quantities of ginghams have been moved by drives at prices low beyond all precedent. Large purchases of lake ore by the principal consumers contracts securing control of low phosphorous ore and lower rail rates to Chicago for Connellsville coke, in or- der 70 compete with Pocahontas coke, are the main features in the iron indus try; hut the revival of the demand is yet deferse ed. Higher prices for nails have causea active buying for the week, but the isfge consumers decline to contract as yef for bars, and the. rod combination has fallen, though middlemen still sell steel sbillets at $19 at Pittsburg, against $20 asked by the pool, but the stock avail able is said to be only 30,000 tons. Struc- tural prospects are good, but in other branches the demand is less active, and Bessemer pig is weak at SIS at Pittsburg.
 Bradstreet's Report.
 Bradstreet's tomorrow will say:
 There is relatively less improvement in general trade this week, the present partaking of a between seasons charac- ter. Wholesale merchants in staple lines in many instances look ahead with con fidence to the autumn, and in such de- partments as agricultural implements, building materials and hardware there is reported moderate revival in de- mand. More favorable reports are re- ceived from Pittsburg, where merchants have had the largest weeks trade thus far this season; Buffalo, where the feel ing Is one of more confidence, and from Atlanta and New Orleans, where request t.. rl1C1nc 11a ttyx .ftx timore wholesalers announce only fair business, and that interior dealers have not disposed of stocks as rapidly as an- ticipated The movement of goods from Galveston is not active but in view of the large Texas acreage of cotton more con fidence is felt that fall trade will meet expectations. Bullish speculation in the New York stock market Is checked by the renewal of gold shipments, and the halt in the London market Is caused by events in South Africa. Declines are moderate and traders, though expecting reaction, act cautiously of the bear side Public interest is. however, suspended and quotations are the result of profes- siona1 activity. There Is an unexpectedly small number of strikes at this season.
 In iron and steel there are advances in prices for special grades of pig iron, due to the output of Lake Superior ores re- quired for their production having been practically taken up by the few interests The so-called steel trust is reported as extending it's territory. Quotations for southern pig have been cut, as are those for the few sales of Bessemer pig and bill lets made by middlemen. In addition to changes in the prices of iron and steel, higher quotations are announced for cof- fee, cotton, petroleum and anthracite coal, while print cloths and lumber are practically unchanged. Copper is easier and wool has been sold at concessions. Cotton goods are depressed. notwith- standing the strength of cotton. Lower prices are noted for wheat flour, wheat, corn oats, pork, lard and sugar. The re- action in quotations for shoes has brought prices down to the level of 1894, at which factories are fairly busy and have rather more confidence Total bank clearings amount to $982, ,000. .000 this week. decrease from last week of not quite per cent, and falling off as com pared with the corresponding week last year of 10 per cent. April bank clearings reflect continued quiet in business and speculation, the gain being only nine tenths of 1 per cent over April 1895.
 Weekly totals of business failures throughout the United States, while aver aging fewer than in weeks during the first quarter of the year, still attract at- tention The total number reported Is '254 this week. against 240 last week and 2O6