Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1897-03-27

WEEKLY REVIEW OF TRADE
As Compiled Carefully by Dun
andEradstreet.
A WEE Z OF SURPRISES
With Price CIV Enough to Insure Against
FY OeeIine-Lare Dealings
"a in WooI-Faures.


will say tomorrow in their weekly review
of trade: Rarely have markets sustained
such surprises as they have received of
late with SO little loss. Foreign eondi1
tions and London alarms, the collapse of
the iron ore combination the destructive
floods in the Mississippi valley and the
decision of the supreme court against
railway associa tions have been used to
the utmost but not even in railroad
stocks has the result been important.
With confidence that better times and
larger business are coming, men are less
disposed every day to throw away good
investments and the very fact that prices
of products are low is regarded as a
guarantee against any further decline.
In all industries also the number of mills
and shops and hands at work gradually
increase.
Cotton was helped upward one-eighth
by the flood. but has lost half the gain,
although manufacturing is more hopeful
Without change in prices, goods were
better demand, and sales of 5000 pieces of
print cloths result In a stronger tone.
The final dissolution of the lake iron
ore pool has been expected ever since
the Carnegie Rockefeller deal. and in
sures low prices for ore the coming year,
though, perhaps, not lower than in 1895.
Mesaba facilities for production have
vastly increased and all the great steel
making concerns have secured mines Of
their own, while means of transportation
have greatly enlarged.
With assurances of cheap ore, hesita-
ton about various products should di
minish, and the demand is steadily in
craasing. Bars are still demoralized and
at the lowest point for plates sheets,
wire rods and rods, and all nails, the de-
mand is growing larger
The demand for rails continues enough
to strengthen prices, although some from
speculative purchases are offered below
the present prices of mills. Increase in
coke production appears, and more is as
sured by the purchase of works by the
Cambria company, and while quotations
are unchanged outsiders are offering fur
mace It $1.70 per ton.
Speculation in wool has recorded larger
sales for four weeks than ever before, 49,
605,300 pounds against 21,9S4,576 in the
same weeks of 1892.
Much more than half is for speculation,
as nothing like the full capacity of mills
is employed. Americans have also
bought largely at London, 10000 bales al
ready, 1t is said, where the market is
excited and had advanced 10 TO 15 per
cent With heavy supplies here, these
large imports, and new wool coming in
May, there may be found overloaded
dealers. Prices here are still advanc-
ing, and many kinds have risen to 8
cents during the past month. The wool
manufacture is steadily increasing.
FaliureS Tor the week nave pee0 EJl III
the United States against 259 last year,
and 90 in Canada against 80 last year.
BRADSTREET'S REVIEW.
New York, March 26.-Bradstreet's to-
morrow will say: While the week is
not without favorable features, unfa-
vorable influences have been more nu-
merous. Leading money markets show
no improvement. Mercantile collections
continue slow and the volume Of funds
offered is in excess of demands for dis
counts. The tendency of investments
to improve has temporarily disappeared
under the influence of the supreme court
"anti-trust decision,'' which apparently
threatens arrangements for the mainten-
ance of railway rates, as well as railway
tradss-union activity, so far as 1t may
affect interstate commerce.
The tendency of prices is downward,
quotations being lower for wheat, In
dian corn, oats. coffee, cotton and for
pig iron and steel bilets on the outlook
for lower priced ore. Stormy weather,
high water and floods in the Ohio, Mis-
sssippi and Missouri river valleys and
in the country drained by tributary
streams having interfered with Interior
trade.
The gradual increase in the number
of industrial strikes is the outcome of a.
movement to secure higher Wages, and
in instances moderate adyanSes have
been obtained. Staples for which prices
uTe higher lDCluuc WOOl, raw SuS MiiSol
flour, petroleum linseed oil and turpen-
tine. Prices are unchanged for print
cloths, refined sugar lard and pork. Re-
cent activity in raw wool continues, and
the prospect for an Increased tariff on
imported woolens caused merchants
to purchase American goods more freely.
The movement of cottons Is not mp to ex-
pectationS and in some lines is disap-
| pointing. The most noticeable improve
| mont in trade is confined TO dry goods,
| hardware, leather, agricultural imple-
! mcnts and shoes.
| Bank clearings at seventy-ssven cities
| throughout the United States are disap-
| pointing. the total for the week being
only SSSS, 900, 000-6.6 per cent less than
last week and 1.2 per cent. less than in
the like week one year ago
The rate of commercial mortality con-
tinues the decline shown in recent weeks,
the total number of business failures
throughout the United States being 221
this week as compared with 23l last week
and 276 in the like week of 1896.