Birmingham state herald., 1897-06-05
AN ENCOURAGING OUTLOOK In the General Tone of Busi-
 ness Seen By DUN AND BRADSTREE ET Remarkable Similarity in Prices of This Year and That of i879-lron Industries Expanding-FaIures.


 by branches of business gives much en- couragement. In amount of defaulted liabilities the month was the smallest since September, 1895; in manufacturing liabilities the smallest, except the last month, since September, 1894 Failures of general stores have not beenl as small in any month as in May, 1897; in only two months out of thirty-six have there been smaller failures in books and hats, only five in groceries and not one trading class in that month has reported failures larg- CT than in half the preceding months, though in furniture failures are rather numerous In clothing manufactures, the month was the smallest, except four, out of thirty-s,x. except five in chemicals; six in woolen goods; seven in machinery, lumber and miscellaneous manufactures and exceeded the average only in iron and cotton goods and earthware, owing to few failures of exceptions. No body can mistake the meaning of such returns.
 The statement that except for the tenn porary depression in prices the volume of business transacted is now larger than it was in 1892, the year of greatest pros perity has been questioned by some. A comparison of prices this week in the leading branches of manufactures not only confirms that view, but shows re- marka ble similarity to the course of prices in 1879, when the most wonderful advance in production ever known in this or any ether country was close at hand. The tariff situation is the cause of ex- cessiye production of some goods in adA vance of demand. So in 1879 consump- tion gradually gained, month by month until suddenly 1t was found the demand was greater than the possible supply. All know how prices then advanced.
 Reports from all parts of the country show that retail distribution of products is unusu ually large and increasing. There is no improvement in the market for farm products Cotton is not higher and the belief that the next crop will be larger in. spite of the floods is general, while the demand for goods dof%-not change, all though in this country 1t Is largo enough to kesp the mark t fo. most goods steady. Nor is there any satisfactory demand for wooden goods and the sales of wool for the week have been only 5.S35, 900 pounds and for five weeks 45.569.900, against 26,- 800, ,150 in the corresponding weeks of 1892. The transactions greatly exceed the de- mands of the mills although these arc larger than of late because of the man. ufacturers of woolen goods having stead fly increasing orders.
 The iron industry is apparently expand ing production and is certainly getting larger contracts, in part because of very low prices, one cent being made for DedI0S BeS5eHlef plS IS SlfOngST dHu grey forge, a shade weaker under pres sure of southern anxiety to sell. The rail mills are full, the Miners Steel com pany having orders for a railway and bridges in Corea and there Is better de- mand for plates and sheets and from makers of agricultural implements at Chicago flor bars. st'a
 Shipments of iron ore from Duluth far exceed those of any previous year, both the Minnesota Iron company and the Carnegie mines shipping over 100000 tons each per week. While the rod com bination has not yet been formed, expec- tations of it with a large demand has advanced prices of nails cents per keg. Tin is very firm in spite of visible sup ply of 34, 436 tons at 13.5 cents and there are large dealings in copper not above Il cents for lake. Lead is in fair demand at 3.25 cents and tin plates are still sell ing at 3.30 for full weights American.
 Crop prospects are so good that the ru- mors customary at this time have no at- tention. It was stated week ago that along the northwestern section prospects were remarkably bright and favorable reports have since appeared from Kan sas and Texas and are given in today's dispatches from the Pacific coast. Re- ceipts of wheat from western points are 220S, ,000 bushels against 2,207 0c0 last year and the Atlantic exports. flour included, were 65.787 bushels against 2,339,852 last year. The enormous outgo of corn con- tinues, receipts having been 5,891, ,381 bushels against 2,291 ,9s4 for the same week last year and the exports were l. 926, ,566 bushels against 1,293,316 last year.
 BRADSTREETS REVIEW.
 New York June 4--Bradstreet's to- morrow will say: The only favorable features of trade are encouragement at the outlook for fall business and improve ment in demand and prices of iron and steel. Crops at the southwest, partic- ularly Texas, have improved with sea- sonable rains and the prospects favor ing large exports of wheat from the Pa cific coast A fairly satisfactory job ping trade continues at leading cities in northwestern spring wheat states Bus mess as a whole shows no pronounced activity and the tendency of funds is to accumulate. Where the volume of busi-l ness exceeds that of year ago, as 1t does in few lines profits are frequently so reduced as. ta, render this. years move ment less satisfactory. Orders for dry livery have fallen off. The anticipated midsummer industrial disturbances. par ticularly in iron and steel promise to in fiuence business unfavorably during the summer months. Exports of wheat (f1our included as awl1eaD from both coasts of the United States and Montreal this week amount to 2,620,000 bushels, compared with 9 20S1 900 bushels last week, 3209 900 bushels in the week year ago. 2,291 ,000 two years age. 2742,0O0 bushels three years ago and as contrasted with 3,300000 bushels in the corresponding week of 1893. ss>,s s~-ss sss.,s :. 926 900 bushels this week, compared with 2185 900 bushels last week, 1,623, 900 bush els In the week. a year ago, 1, ,149, 900 bush. els two years ago, 974,000 bushels three years ago. and as contrasted with 629,000 bushels in the like week of 1893.
 There were 197 bushes failures report-l ed in the Uplsed Sltates this week, sharp. falling off from last week, when the total was 257 The total one and two years ago was 236 in each instance, and in the Nike week in 1894 it was 207.S
 There are 27 business failures reported from Canada xhis week. against % last week, 29 the week year ago and 27 two years ago. ti'
 Hamilton and Halifax .Yhow ml in- crease of 506 per cefnt. Tor May. 1881. conn pxrc1 with the like total year ago and Of 2s per cenh. in the first four moutfa of The ctrrent year as compared w1th the like total last year.