Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1897-01-23
A RADICAL IMPROVEMENT
Based on Slow, but HeaIthfuI In
creased Demand
IS THE TREND OF TRADE
An Ung.+ally Long List OF Business Embarrass-
SCENTS Continues to Be Feature,
TH MARKET FOR SECURITIES BETTER
= nber of Hands Employed Larger, All
'z Industries Observation-Disclosures Pig
- Slightly Lower - Increase of
'fsa Iron Manufactures,
: MARKET FOR SECURITIES BETTER

| morrow will say: The most encouraging
| feature of the trade situation this week
| is the increased demand from manufac-
| turers for wool. The decision of print
| cloth manufacturers to curtail the out
| put will emphasize recent sales of the
heavy surplus and promises better
| market. To these may be added the in
| crease in the volume of domestic bank
| clearings, a general steatdiness of prices
| and the healthfulness of general trade
| in almost all departments. Conserva-
| tism IN granting credits and the pref
erence of retailers and others to buy
oftener. but in small quantities, continue
to mark the course of buinesS as not be-
fore for years. Demand Is increasing in
almost all lines, with few exceptions,
although very slowly. A radical improve
ment in the near future, based on slow
but healthful increase in the consump-
tive demand, is, in the absence of un-
foreseen obstacles almost a certainty
Commercial travellers are reported very
| generally out on the road, yet the volume
| of business continues small and collec-
tions In many instances are unsatisfac-
| tory. The more active demand is for
| shoes, hats, groceries, hardware, dry
| goods and drugs; 1t is true that at
| such centers as Chicago and St. Louis,
| at the west, Baltimore, Philadelphia,
| New York and Boston, at the east, busi-
ness continues along very conservative
lines. Memphis, Nashville and Galveston
continue their exceptionally favorable re-
ports as to demand for staples. Pacific
coast ports annouce unusually heavy or
ders for merchandise from Alaska, and
an improving trade with China and ia
pan. Total bank clearings aggregate
81, ,042 100000 this week, a decrease of one
half of per cent. from last week, but an
increase of 6 per cent. over the third
week of January, 1896.
Prices appear to include few, If any,
that are higher than a week ago; while
-four, wheat corn, lard, crude petroleum,
tin, Bessemer pig iron and steel billets
are lower. Wool remains firm, at prac-
tdcally unchanged prices, but is likely to
advance if the present demand continues
Leather. is also firm and unchanged, as
| are lumbers, cotton, print cloths, pork,
coffee and sugar
An unusually long list of business em-
barrassments continues feature of the
state of trade of the week, the total for
the past six days being 429, or 40 less than
last week and SS more than in the week
a year ago.
DUN'S REVIEW.
New York, Jan. 22.-R. G. Dun & Co.
will say tomorrow in their weekly re-
view of trade: There Is more business,
though not at better prices It is in
teresting that almost all prices which
change at all are lower than a week ago
and yet business is unquestionably
larger. In6TS Is ldTBtT pTOQucllOU, Dul
as yet not as much increase in consump-
tion, and there is larger buying of ma
terials, but at present only because bet
ter prices are expected in the future. A
few conspicuous failures during the week
have had no material influence. The
market for securities is slightly stronger
and yet there is very little doing. The
number of hands employed, all indus
tries considered, is slightly larger than a
week ago, without adverse change in the
70 ofx annrahanciOp q Of for
eign disturbance of money markets has
passed away, but there is still great cau-
tton in making loans. 1t is mistake
to reckon these as symptoms of depres-
sion. On the contrary, in spite of the
lower range of prices in important in
dustries, the conditions all indicate larger
production and a consumption increasing,
mot as yet largely, but steadily.
The earnings Of railroads in January
have been "A per cent. smaller than last
year.
Wheat, corn and cotton. exports are the
key Of the financial situation, and during
the past week wheat has declined V
cents and corn % cents, while cotton is
unchanged. The woolen industry Is as
slow as ever, and no real Improvement
appears in the demand for goods, al
though owing to the lateness of the sea-
son there is a little more doing both in
spring and In winter goods, without
quotable change In prices.
The iron industry is enga ged In set
tling relative prices and the slow opera
tion retards business in many branches,
since the future of prices is uncertain.
Bessemer pig is a trife lower, at 5000.
at Pittsburg, and grey forge at $40.
though no further declines has occurred
in eastern markets, or at Chicago. But
the competition of new concerns tempted
to manufacture nails by the high prices
recently maintained, causes slightly
lower sales of wire nails at $1.35 and
of cut nails at $1.25. The bar association
has been in session to consider the reduc-
tion of steel bars to one cent and in large
contracts even lower, and the billet as
ISOLATION has again been called together
to meet on the 29th, although there Is no
prospect of its reorganization, and bill
let's are selling at $15.25 at Pittsburg.
The increase In manufacturing is per-
haps more definitely shown than in any
other, way by the production of coke,
which steadily increases, 9S17 ovens be-
ing in blast, against 8,173 idle. and the
weeks output 1856 tons, Is over double
the output of October l.
Failures for the week have been 409
IN the United States, against 373 last
year and IS in Canada. against 81 last
year.
WHISKY IN OIL CANS.