The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-04-01
SOMETHING LIKE A CHECK
Has Been Experienced, Owing to Fall
ing OH in Buying.
PRICES STRONGLY MAINTAINED
Failures for the Week Were Much
Smaller Than for the Correspond
ing Period Last Year-The
Iron Market Steady.

New York, March 31.-R. G. Dun G Co.,
in their weekly review of business, will
say:
Failures during the first quarter of 1899
have been in amount of liabilities not more
than about S26, $50 $50, against $31 ITO JAP last
year, $iSOO $40 in 1897 and $57 255, lS5 in 1896.
While the later returns may increase the
amount for the quarter a little, the COM
plete returns, which will be given next
week. will be very remarkable in COMPARE
son with that of any previous year. Busi-
ness is not at present improving. There
has been something very like a check,
partly the result OF heavy buying since
January to anticipate the market partly
caused by the uncertainty about the opera
ton OF many combinations and a shade of
doubt about foreign affairs also had some
influence.
The new rule of the clearing house banks
at New York about taxation of country
checks also causes some shifting of ac-
counts. A period of transition from. one
ownership and management to another and
from one industrial system to another,
when it affects many hundred establish
are causes of some hesitation in business
A little later the many hundred concerns
may be doing more business than ever, as
they were just before combinations were
effected. But at the point of transition no.
body knows just what TO expect. There is
much withdrawal of iron business, be-
cause continuance of high prices is
doubled because many purchases made by
ms-hy other works have not been met by
orders, and because works affected by
many other combinations proposed are not
inclined to buy more largely.
Prices strongly Maintained
Prices are strongly maintained at $15.15
for Bessemer pig at Pittspurg, the Valley
Association having sold 100000 tons for de-
livery in the last half of the year at $14.30,
and grey forge Is stronger at $14.4O.
Chicago is inactive compared with recent
weeks. With no sales reported except 10000
tons at Chicago rails are quoted one dol
lar higher there, and as much at Pitts
burg, and the sale of 100000 tons of steel
bnlets to the Tin Plate Company sets prices
for 100 pounds of plate at $405 after July 1.
Structural demand increases; bar mills at
the west and south are consolidating, and
are not disposed to take large contracts,
although the PittSburg mills are asking
$15O because they are behind their orders.
For plates the demand far exceeds the sup
ply at Philadelphia and Chicago and the
leading mills at Pittsburg are full until Au-
gust or later. In hoops, cotton ties, tubes
and other products, exceeding consolidation
affects business. Minor metals are strong
for tin at Ac with consuming demand, and
for copper at $3.50, owing to London spec
ulation.
More evidence appears that the wooden
manufacture Is not helped as yet by the
or the nrOqnant of them.
and the buying demand has been disap-
pointing in many ways, though in dress
goods active. Sales of wool were 20,S09, 100
pounds at the three chief markets in four
weeks, against S,S77,S00 pounds last year,
when prices were held at the top, Sc, 1856 200
pounds in 1897, when prices were being
rushed upward, and 80 932.576 pounds in 1892,
when the manufacture was nominal, indi-
eating a fair but not extraordinary demand
for the goods. Prices are said to be quiet
for Ohio Xxx at 26 cents.
Boot and Shoe Business
The boot and shoe business is again halt
ing because of difference between buyers
and sellers as to prices.
The fluctuations of the wheat market
have been large and tend on the whole to-
ward higher quotations. Exports at At
lantic ports, our included, have been for
four weeks, u,679,512 bushels, against o.
392495 last year; and at Pacific ports, g.
963,6S7 bushels, against 2,7H,l12; and the
other exports, not given last year, make
the total, 1877, 800 bushels. Western re-
ceipts have been 2,949, SIS bushels, against
9,96S,373 last year.
Railroad earning for three weeks of
March have been Al per cent. larger than
last year, and 9.S per cent. larger than in
1892, and east-bound tonnage from Chicago
in four weeks has been 459, 438 tons,
against 622901 last year, which indicates
quite clearly the remarkable depression in
rates year ago.
Failures for the week have been 1874 in the
United States against 220 last year, and 26
in Canada against q last year.
BRADSTREET'S REVIEW
New York, March 31.-Bradstreet's to-
morrow will say
There is quieter tone in several lines of
business this week, independent of the re-