Phoenix weekly herald., 1897-11-25
THE STATE OF TRADE.
Summary by "Bradstrset's."I

 Oue Of she moss significant features
 of the business sisu4aion is found in the continued heavy weekly totals of banl olearings, that for the six business
 deys;eudIng November Il amounting to S1, ,347, ,OOO, ,O00, an increase of 10 per cent
 over the proceeding week aud B per
 csnt compared with the second wesk of November, 1896, when business bsgsn
 60 revive Sharply in speculative lines.
 This weeks gain, as compared with the
 corresponding total in 1895, is b per
 cent, but 32 per cent when oontrastsd
 with the like total in 1894 sud 4I per cent when comparison is made with the
 same week in 1893, nearly two months after the pspic ended.
 RailFosd gross earnings show smaller
 gains as comparisons begin to be mads
 with more nearly normal conditions one
 year ego. Total Ostobsr earnings of
 127 companies, operating 100000 miles
 of road, aggregate S55, AGA, ,339. 8 gain of S5, 10000 over September and per
 cent ovsr OotobeF year ego
 Other favorable features are the con
 tinued firmnees of and activity in wool,
 iron and steel. The heavy output of iron and modegate reduction of stocks last month suggest ths improbability of the advance in prices of iron and steel next year which so many have hoped for. The slight reaction in the price of cotton, in view of the extreme ds- pression to which that staple hsd been subj jscted, attracts attention as the pos sible beginning of She end of the pro Ionged decline. Already there is SD improvement in prices of. and demand for cotton yarns.
 The unfsvorable influences in prices movements this week are declines for costons and printcloths, the latter touching the lowess prics on record. Wheat, lard and lead are also lower and wire nails have beec shsddsd. There is long list of staples for which prices are practically unchanged. The more important sevancas are confined to In disa corn, oats, hops and turpentine.
 Out Of 96 staple articles Of merchant disc and produce, live stock, etc, 46, nearly one-hslf, decreased in price dur ing October, 28 were practically uu- changed. and 24 higher.
 Colder weather in the central west and northwest has stimulated demand for winter goods, particularly clothing. Reports sa to the progress of the winter 1 wheat crop are enooursging. Demand i f,z central Mississippi river valleys excseds she supply in some instances. The re- noval of yellow fever qasrantines at | the south tends to improve business, ss Memphis, Ches5aDo2ga, Jacksonville and Nsw Orleans
 There is sn increase in the number of | business failures, she total throughout the United States this week being 273, l compared with 223 last week, 25S in the week one year ago, 279 two years ago. 80 three years sgn, and 370 in the sec md week of Novem Der, 1893. The lsrg IF portion of shis wsek's increase over ssa week is in Nsw England and the outhern states.
 Stock speculation is irregular and of professional quality. Bullish senti nent is more apparent CD the better de- concerning Spain and Jubs, she decision of the Supreme Jourt in the shoFthail case and the con- inued favorable earnings. After rallies Iowever, traders have successfully at scked the msrkss, and the weakness Of 'ugsr stock on bear manlipulation lffected the whole list.
 Exports of wheat flour included as vhest) from both coasts of ths United states and from Montreal this week mount to 5.445,542 bushels, compared 7ith 5,590,O0O bushels last week, 4,6c4 co bushels in the wsek year ago.
 Exports of Indian corn this week monnts to 2.651, 1,546 bushels, against ,I99,OOO bushels last week. 3.782. eco uahels in the week yesE ego.