The Birmingham age-herald., 1912-06-08
 EXP PANS|ON IN IRON AND STEEL TRADE Reports Constitute Most En-
 couraging Feature COTTON GOODS DULL Remarkable Production of Pig Iron
 
COTTON GOODS DULL
Remarkable Production of Pig Iron During May = Business Enter prises Held in Check by Soli-
 citude Regarding Crops

New York, June 7.-R. G. Dun & Co.'s
 weekly review of trade tomorrow will
 say.
 The quickened movement of trade is clearly revealed by the statistics of bank clearings, railroad earnings and pig iron
 production. On the other hand, in num-
 Der of defaults and amount of liabilities
 the May record of commercial failures, I while better as compared with previous
 months of this year. was unfavorable as | compared with corresponding months Tn most of the preceding years. The ad- vices from the iron and steel trade con- stitute the most encouraging feature Of the industrial situation. There was a remarkable production of pig iron during May and, with the prospect of adequate crops, the reasonable outlook is for a high water mark activity this year in this great basic industry, with an advance in prices not unlikely. Undoubtedly bus mess sentiment and business enterprise are still held in check by sollcitude re- garding the growing crops and the pend- ing economic controversies but they are not standing idle, by any means, but cheered by the extraordinary expansion in the iron and steel trade, the advance in copper and the improvement in the condition in the textile industries, they plainly display a desire to forge ahead rapidly as opportunity presents itself. A shortage of labor is reported in the Connellsville coke region.
 In the primary markets for dry goods jobbers and retailers are fairly active. improved weather conditions having as sisted distribution and stimulated the demand for goods for immediate consump- tion. Cotton goods at first hands are rather dull, but large shipments were made on old orders More wash goods | and summer merchandise are going into | consumption and while export business | is quiet for the moment shipments con | tinue heavy. Fine cloths are quiet and | dress ginghams dull, but staple ginghams are In fair demand. Duck holds steady | and colored cottons are firm. The cot | ton yarn markets are quiet and prices | easier but worsted yarns spinners are busy on sample lines for a new season | Fall orders are coming in slowly for broad silks but new lines of tie silks are | attracting much attention.
 Trade in seasonable footwear continues | to improve and many new orders are | booked. but fall and winter contracts are l backward, owing chiefly to the question of price and some manufacturers lack new business. Pronounced strength con- tnues in all descriptions of sole and up- per leather, but the market is generally | inactive.
 New York. June 7.-Bradstreet's to- | morrow will say
 Better, more seasonabe weather and fl,.a of tha ar1 ..1ft, tt- where progress itself can be measured are responsible for 8 further expansion in the 1 volume of final distributive trade. This | Is. of course. most marked in retail trade | In the larger cities and industrial centers | and less so in the country districts, where | farmers are still wrestling with the ob- | staces imposed by an almost uniformly | late planting and growing season. Dry | goods and light summer wearing apparel | are feeling the stimulus of the weather | and some recorder business is being en- | gagged by iobbers, who also find an addi- | tional impetus to trade in semi-annual | niark-down trades to close out stocks of | summer goods There Is a fair trade in | fall goods but this is governed by a | studied conservatism bred of political un- certainty and desire for a clearer view of | crop probabilities. The industries are in | rather good shape Iron and steel report l close to maximum production, though | new demand is not so marked The build |
 ing trades show a good increase for May | and the five months, and the coal trade | having resumed work demand and distri- | button are better. Coke is easier. Trade | on the Great Lakes Is good and promises | to be better Reports from the cotton | goods trade still display some of the | curious cross-currents hitherto noted | Some lines of goods are closely sold up | Others, such as heavy yarns and wide l prints are softer Still the general re- | port from nearly all lines is that stocks | are not in any sense burdensome Busi- | ness failures in the United States for the | week ending June 6 were 197, against 23l | last week, 232 in the like week of 19l1 | lS9 in 19l0 197 in 1909. and 25s in 1908 l Business failures in Canada for the week | ending with Thursday number 19 which | compared with IF last week and 23 in the | like week of 1911.
 Wheat, including flour, exports from the | United States and Canada for the week | ending June 6, 5,90s.693 bushels against | 4,914,400 last week and 2,43 ,S20 this week | last year. For the 49 weeks, ending June | 6, exports are 16O, ,S22. .336 bushels, against | i1hS6,2l5 in the corresponding period last | year. Corn exports for the week are l06.- | C7s bushels, against 42.159 last year and | l.035,144 in 1911. For the 49 weeks ending | June corn exports are 33,09S, 761 against | 41 1910.597 last year.