Birmingham state herald. (Birmingham, Ala.) 1895-1897, 1897-01-16
A CONFLICT OF REPORTS
a5 sa47Q II -
As to the Trade Conditions by
Dun and Bradstreet.
iie- +
zJtl4sa HlEsf
ONE BRINGS GOOD NEWS
While the Other Directly Contradicts the Prom
,aas sed Era of Improvement
A LARGE DEMAND FOR sTEEl
Owing to Bridge and Terminal Improve,
ments, Though Prices are Slightly
Off-Iarge Purchases of Wool and
Some Dealings in Leather.

New York, Jan. 15.-R G. Dun & Co.
will say tomorrow in their weekly review
of trade: The greatest growth and pros
perity the country had ever seen came
suddenly In 1879, after several months of
disappointment, because specie resump-
tion had not yet brought the benefits ex-
pected. 1t takes time for new conf
dence to reach through easier money
markets, larger orders, resuming bills, ex-
panding employment and larger distribu-
tion, to the results which make still
greater and lasting gain possible. Such
gradual and steady improvement has
been in progress for more than two.
months. The output of pig iron has
gained 41.6 per cent. since Oct. l. The
output of coke has Increased SS.7 per cent.
since Oct. /. Sales of wool have again
become large. Money markets feel a
steady increase in demand for CONNER
cial and manufacturing loans. Addi-
tional works have gone into operation
each week in January and the working
force is larger than at any other time for
six months.
1t is no time of high prices. Many who
are anxious to get early hold on the mar
ket are making for the moment lower
prices than they could afford to maintain.
With the increase in output of pig iron to
159, 720 tons weekly, against 142,27S last
month";, the price is shade lower at the
east and Chicago, but heavy purchases
already advance Bessemer shade at
Pittsburg, Steel bars have been reduced
to / cent, and some other finished pro-
ducts 81 per ton, but the demand is on
the whole steadily growing. The coke
output has risen from $4,000 to $4,000 tons
weekly, and minor metals are shade
stronger.
Textile manufacturers are not encour-
aged by the demand for goods, though
more print cloths were sold than for
many weeks. Lower prices are expected
in goods, and slow buying is not unnatur-i
al, since cotton has fallen 17.S per cent.
from Sept. '11;f.print cloths, z per cent, !;
bleached goods, 31z to 51e; and brown
goods, l2R, 3 and per cent. Though
woolen goods do not improve, there have
been purchases by large mills whichs
cover for two weeks of January Il, ,11o, ,3oe'
pounds at the three chief markets,
against II, ,817 800 last year. Some large
purchases of leather indicate that some
to more active work and shipments from
the east in January thus far are 20 per
cent larger than last year.
The Pennsylvania and some other.
roads have commenced to buy rails and
several costly improvements have been
ordered. the Columbia bridge alone call
ing for 1000 tons of steel and terminal
improvement for the Erie will cost ST.
100000,
The money market has been disturbed
by combination of large bankers not to
lend on call below 2 per cent which in
vited all sorts of financial institutions to
take the market caused payment of
bank loans for some millions and left
supplies of funds so heavy that the loans
were sharply marked down. More was
done in commercial paper, though Offer
ings increased -bu moderately. Receipts
from the interior exceeded shipments by
$500, 600. Exports continue to exceed
last years for the week 8 per cent, while
imports fell 10 per cent. below last1years.
Failures for the week have been ass in
the United States against 1896 last year
and II in Canada against 81 last year.