The Birmingham age-herald., 1912-04-20
BUSINESS IS VERY
 STEADY ASA WHOLE
In Excess of That Done This
 Time Last Year
UNDERTONE IS STRONG
Price Tone of Iron and Steel Markets Much Stronger, With Activity in Pig Iron and Steel Bar Buy
 ing Predominating

New York, April 9.-Bradstreets to- morrow will say:
 Trade is steady as a whole, and In many lines the volume of business is in excess of that done at this time last year. Still more or less irregularity has developed and there has been some re- cession from the activity witnessed in recently preceding weeks. This tren1 Is due in part to the fact that near future spring requirements have been covered, while far future buying, in special lines of textile, is rendered con- servative by uncertain crop prospects and actual demage to winter wheat.
 However. the undertone of affairs is strong. Dry goods, footwear, hats and caps, furnishings, hardware, gre ceries. lumber and paints and oils lead in point of activity, while the price cone of iron and steel markets Is much stronger. with activity in pig iron and buying of steel bars predominating. But even this latter market is affected by the fact that prices on structural shapes are not so firm in the east as they are elsewhere. Jobbers of cotton goods have recently taken to buying in small IotS, but Tn steady way.
 Still the market as whole is less ac- tive, owing in part to weather conditions, as well as to the tendency of prices to advance in consonance with higher quo tations for raw cotton, and to slow pay ments in sections of the country. 1t is recognized that supplies are light, that production in many lines has been re- stricted by mill labor troubles and that it will take time to regain lost ground Goods suitable for fall and winter uses are being taken in a liberal way.
 Business failures in the United States for the week ending April IS were 260, against 294 last week, 233 in the like week of 1911. 193 in 1910, 254 in 1909. and 254 in 1908. Business failures in Canada for the week number 20, which compares with 22 last week and 24 in the corresponding week of 1911
 Wheat, including flour, exports from the United States and Canada for the week ending April IS aggregated 22S3, 759 bush els, against 2,6l3,2S6 last week, and 1,769- SIS this week last year. For the 42 weeks ending April IS exports are 1S0, 112,S69 bushels, against 9S,o9i,112 in the corre- spending period last year. Corn exports for the week are 540,4S4 bushels, against 352 555 last week and S39 4S2 in 1911. For the 42 weeks ending April IS corn exports are 32, ,96l bushels, against 43,Oo2,613 last year.
 New York, April 19.-R. G. Dun & Co.'S weekly review of trade tomorrow will say:
 Reports from the leading trade centers indicate that the recent progress toward increased business confidence and activity continues, and no current development, however disturbing, seems to check the improvements The growth of a more opti- mlstic business sentiment is especially .exNt.. a |. ct and this is all the more significant be- cause of the reports of damage to winter wheat that were responsible for a rapid advance in prices which was partially lost. The fearful disaster to the steam ship Titanic has had more or less de- pressing effect upon the market and is a matter of special concern in shipping and insurance circles.
 Further price advances in iron and steel are announced and production is well maintained at approximately 90 per cent of capacity. There has been heavy buying of bars by agricultural machinery interests and quotations are higher. Sheets are also firmer. and on the whois finished and semi-finished lines are stronger
 Demand for pig iron has included basic, malleable and foundry grades, important foundries in the east and central west having covered their re- quirements for the third quarter and some for the second halfs of the year. There is less structural steel work in sight than for some time but it is es- timated that contracts for standard section rails now pending aggregate about 1000 tons.
 Labor troubles in textile centers are being adjusted. but deliveries in many lines are affected by recent strikes. Distributors in the middle west com pain of hesiteney due to unfavorable crop reports. In the industrial sections of the country dry goods trade is i'm proving moderately. Cotton goods are firm and advances have been announced in wide print cloths, wide sheetIngs and other lines. Demand for staple prints and ginghams is steady, and ducks rule very firm
 Export shipments continue large. The silk trade is begnning to show distinct improvement in the volume of fall orders, while woolen and worsted lines are in very satisfactory position.
 Improvement Is noted in footwear, and while the higher prices demanded cause conservative buying, both manufacturers and wholesalers report an increase in bus mess as the season advances. Leather and hides are firm.