Birmingham state herald., 1897-05-29
WEEKLY TREND IOF TRADE Divergence of Opinion by the
 Two Critics.
ONE SAYS IT IS GOOD
While the Other Says It Is Disappointment Iron Manufactures Gaining Cotton Un-
 changed WooIens Acthe-failures,

New York, May 2S.-R. G. Dun & Co.'S weekly review of trade tomorrow will say: People are actually doing more busi- ness than thay realize. They reckon by values, but these are much lower than for any previous year of prosperity, and leave little margin for profits. In quantity there is almost as much business being done as during tha years of greatest pros perity, and though the increase in popu- lation would call for material expansion ehe comparison is not discouraging. The recovery is slow, hesitatng and gradual but more has been done on th'e whole Tn May than in April while returns of April showed the volume of business only 10 per cent. smaller than that of the best year heretofore. Ys,t, hesitation Is doing it's work every week and mul.itudes are waiting because of possibilities at Wash ington who ought to be filling the demand of labor and the products of labor.
 Events have proved that the crop or wheat going oui. is much larger than any one expected, and western rece rtS are 50 per cent. larger than last year, while Atlantic exports have been for four weeks 6,315,329 bushels, flour included, against 49S8777 last year. At this season actual receipts counteract all previous predic- tions, and the south is preparing Tor an extraordinary quantity of wheat and four yet has so much to spare, that the May option has declined nearly cent for the full week. Since Ghe large outgo ot corn taking the place of wheat in fer eign countries is far beyond precedent or expsdta ton and for four weeks has been 961100O bushels, against S995000 bushels last year. With liberal internal supplies the price has declined a fraction.
 Cotton is unchanged although at this season exports are insignificant. Mann- lecturers have especially cause for de- lay over the possible competition with foreign goods largely imported, but there has been no setback in prices, although cotton goods are dull wi hout large de mand, and print cloths are at the bot tom price. It is evident that production far beyond the conSu ming demand has forced the industry into waiting atti- tude. Distribution of all dry goods is at present retarded lso by cooler weather than is usual at this season.
 The woolen mills arc producing more than they have done for years, though much less than they could or would like to produce, and manufacturers are do ing almost nothing in the wool market though specula tion has keIas the sales large, in four weeks of May 2S,St5,500 pounds, against 20,159, ,450 pounds in the corresponding week of 1892. There is |vsome weakness observable with wes.ern holders, and eastern prices begin to feel the weight of enormous imports, although holders still calculate on rise as soon as new duties take effect
 The iron manufacture gains III spite of the closing of some furnaces. The produc- tion of pig exceeds tho consumption and is somewhat decreasing, whils the con- sumption has gradually gained this week in part because of several structural con- trac.s, including 1000 tons for this city, and in part because the agricultural inn plements works have made lars5r de- mands, and also because of the proposed leasing of nearly all the rod mills in the country, which has caused some buying. Pig iron shows no change in price, but it is noteworthy that an advance. of 25 cents in the British price of American pig is considered relief as lessening the urgency lto sell southern pig in northern markets.
 Cotton ties at 50 cents p:r bundle have qul:e shut out foreign competition.
 Tin and copper are stronger but the tin plate makers have agreed upon an advance, and yet the best grade sells as before at $330. against $3.S0 for the for eign.
 Failures of the week have been 214 in the CnitId States, the smallest in any week since September, 1895, against 269 last year, and 22 in Canada, against 20 last year.