The herald., 1897-04-24
Bradstreet,s Trade Review

NEW YORK, April 23.-Bradstreet's S
tomorrow Will say: The change in the
conditions underlying general trade,
while slight this week, has been in the
direction of Improvement. The depres-
sion in iron and steel continues, and Bes-
semer pig and steel billets have reacted
another 25 cents a ton. The outlook fa-
vors an increase In labor disturbances,
to resist midsummer wage reductions.
The bituminous coal mining industry is
worse than the anthracite, with rumors
of strikes. which promise to have an un-
favorable influence on other than the
iron and steel industries. Trade in wool
Is quieter. There is less life In the whole
sale drygoods trade, and little relief has
been experienced. Notwithstanding the
large auction sales of cotton goods last
week, buyers continuing to supply needs
only. The tendency toward more eet-
tied weather has stimulated retail de-
mand, more particularly at the north
Y est, notably for dry goods, hardware
and millinery. The only large cities re-
porting an increase in the movement of
merchandise are St. Paul, Minneapolis,
Milwaukee and Kansas City, where the
distribution of dry goods, stoves, hard
ware and building materials has been
more conspicuous. At other large CEN
ters there has been no material gain in
industrial or commercial lines. Exports
of wheat (fiour included as wheat) from
both coasts Of the United States and
from st. John, N. B., this week amount
to 1.6b4,658 bushels, against 5,344, 900 last
week. 1,12S.0o0 bushels in the third week
of April 1896; 2,431, 900 bushels in the like
week of 1896. 2,727, 900 bushels in 1894, and
as compared with 2.507. 900 bushels in the
corresponding week OF 1893. There are
216 business failures throughout the
United States for the week, compared
with 1876 last week, 240 In the third week
Of April. 1896; 223 in the corresponding
period of 1895, 201 in 1894, and with 1855
in the like week of April, 1893 There are
% business failures reported from the
Canadian dominion this week, compared
with 20 last week.
FINANCIAL REVIEW
NEW YORK, April 23.-Bradstreet's
Financial Review tomorrow will say:
Saturday and Monday last were signal
lied by heavy selling and considerable
declines on the part of the foreign
houses and by bearish manifestations
by the local traders. The declaration of
war between Turkey and Greece was the
cause, and It was assumed that when the
London and continental markets re-
opened on Tuesday. after the Easter va
cation, they would be more or less irreg-
ular. The results. however, were a
great disappointment to the bears. Both
London and the continent took the news
OF the war calmly and apparently con-
cluded that the disturbance would be
limited to the original combatants or
soon ended. Spectators in London who
had sold our stocks on the opposite the
ory, OF course. made haste to cover their
short contracts, and the bear contin-
gent also purchased with haste, result
ing in marked recovery in prices on
Tuesday and Wednesday. The exhaus-
tion OF the short interest In international
stocks, however, caused a slackening Of
the movement toward the end of the lat :
ter day. which was in measure COM
pensated for by manipulation directed
against the bears. the anthracite stocks,
Jersey Central In particular, gaining
considerable ground.