The Birmingham age-herald., 1911-04-22
BUSINESS IS
 MOVING SLOW Dun and Bradstreet Make
 Weekly Report PIG IRON VERY DULL Some Believe the Bottom Has Been Touched in Dry Goods Market. Volume of Business Below
 Producing Capacity

New York, April 2f.-R. G. Dun & Co., weekly review of trade tomorrow will say:
 Business continues to move slowly, it's volume though large being much below producing capacity and displaying a lack of interest and vigor. The accumulation of deposits and reserves of the banks are
 one of the results of the general trade re- cession, but they impart strength to the
 banks and will enable them readily to finance the forward movement of enter
 prise whenever it sets in.
 Dullness in pig iron has become more pronounced and production is on reduced scale, with the leading interest having only about 70 per cent of the furnace ca pacity active. Greater quietness is also apparent In the finished materials mar
 ket and some curtailment of mill opera
 tions Is reported, althought 1t is not be-
 lieved that the volume of new business in April will fall much below the bookings in the preceding month.
 Only moderate demand is noted in the pig iron division and in foundry grades tho restricted buying movement has
 brought quotations for future deliveries
 nearer to parity to those for early ship
 ments. Uncertainty as to prices on iron
 ore had disquieting effect and reduc- tion of 50 cents per ton was reported at the close of the week
 In the dry goods markets there has been no special backward movement and some
 merchants believe the bottom has been
 touched on prices for cotton goods and
 other lines. Orders placed by jobbers are small as a rule, but indicate a healthy
 condition of stocks from sellers view
 point. There Is some uncertainty as to
 future values, and most of the business
 now being done is for May and June de-
 livery, but this is in part due to the un-
 willingness of mills to make long con-
 tracts at present. At the same time the volume of production is being generally
 curtaled and limited to orders, so that
 manufacturing centers are still giving evil
 dence Of depression
 A fair export trade in cotton goods was done last week. Gradual improvement is
 noted in footwear. New England manu- lecturers are receiving a slightly larger volume of orders and a satisfactory fall and winter business is anticipated. All hide markets are very quiet, with domes- tic tanners not operating except for such
 small parcel lots as will suffice for imme- diate pressing wants.
 Leather continues slow, but some be- lieve conditions are a little better than
 heretofore.
 New York, April 21.-Bradstreets to-
 morrow will say:
 Trade and industry are quiet to dull, reports verying with sections and lines reporting. For this weather, crop and 1 tariff uncertainties are. held variously responsible. The season as whole
 has been cold and backwards. Easter trade, except in few sections, has been hardly up to normal ito expectations. Jobbing trade reflects this in rather spotted condition at most centers. In wholesale lines price uncertainties and the pending tariff discussions tend to restrict future. There is also a rather widespread complaint as to slow collec- tions. Industry is quiet, waiting upon demand which Is cautious to the limit of conservatism.
 Commodity prices show a tendency to steady, though Canadian reciprocity discussion tends to unsettle trade in farm products Iron and steel trade is quieter and demand for pig iron as we'll as finished material has receded. Moreover some price irregularities are in evidence and production of pig iron has fallen off from the rate established in March. Building is irregularly ac- tive. The lumber trade is likewise ir- regularly affected by the quiet at some centers and tariff. Short time Is still a feature in cotton goods produc- ton. Machinery manufacturing Is rather quiet except in few special lines.
 Export trade is quiet in farm products but good in manufactures. High prices restrict trade in paints, but turpentine Is sharply lower
 Business failures in the United States for the week ending April 20 were 233 against 233 last week. 193 in the like week of 1910; PAT in 1909; 254 in 1903. and 57 in 1907.
 Business failures in Canada for the week number 2i, which compares with 2S last week and 15 in the correspond Ing week of 1910.
 Wheat, including exports from the United States and Canada for the week ending April 20. aggregate 1,769,87S bushels. agaist 1,633,502 last week and 12S9272 this week last year. For the 42 weeks ending April 20, exports are 98O94112 bushels, against 120,172,201 in the corresponding period last year.
 Corn exports for the week are S39,4S
 bushels against 1,779,140 last week and
 462.O41 in 1910. For the 40 weeks end ing April 20, corn exports are 43,052,613
 bushels against 22,774.667 last year.