The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-10-26
WEEKLY TRADE REVIEW
TH f VOLUME OF BUSINESS HAS
HARDLY FULFILLED
EXPECTATIONS.
COTTON SPECULATION A FEATURE

the Market in a State OF Feverish
Excitement-- Wheat Has Risen Three
Cents for the Week--Good Demand
for Pig Iron Continues.
NEW YORK, Oct. 25.-R. G. Dun g.
Cos. Weekly Review of Trade, which
issues to morrow will say:
Ten days ago gold exports seemed
very near B the break in cotton
whicl then began ripened on Monday
into a collapse sufficient to justify hope
of free movement. Hides have also
dropp d sharply at Chicago, leather is
weaker and the adjustment of prices
to real instead of i'm ginary condi
tions pr"gresses rapidly. Alrea y
lower prices in iron have brought
ouC some important contracts LABOR
difficulties, though including the
striSe of many Pennsylvania coal miners
who do not seem to be succeeding, are,
on the whole, of no serious i'm
pOrtance. Money markets cause re-
markably little trouble, considering
the heavy movement OF products.
@ loler weather has generally helped
retail trade and with increased consump-
tion by the millions the way will be clear
for better business. Already payments
through clearing houses closely approach
for October those of the best year in his
tory, though rejecting in part past
transactions, and new orders are still
much needed by the great industries.
The highest authority in the trade the
Financial Chronicle, stated last Saturday
that the cotton yield would not fall
below seven million bales, and receipts
thus far indicate even less decrease.
Elis0n's estimate of the worlds con-
sumption, 8, 800 900 bales American, of
which 100000 were carried over
September /, does not favor wild fuc-
tuations. Exports improve but little
| because foreign stocks are so large, and
the lover prices give more confidence to
mills watch feared to purchase and man
ufacture when decline was reasonably
expected.
Wheat has risen 3 cents for the week,
] although western receipts. z or 061
| bushels for the week, against 5,059, 787
| last year continue unusually large
and Atlantic exports, including -four,
| 1, ,176 1877 bushels for the week, against
| I, ,s56 935 last year, aud four weeks
5,734, ,007 Bushels against 8, ,195, ,046 last
year, show plainly slack demand from
abroad Russia and Argentine are botn
moving freely. Nobooy can give a
reason for higher corn, and pork declines
25 cents, lard lie, and hogs 10 cents
per 100 pounds.
Iron boasts some good contracts this
week, one from Russia for several
months production of armor plate by
the Carnegie works, one for government
| appraisers stores here, and other for q,
900 freight cars, with prospect of as
many more.
Textile manufactures have been for the
moment disturbed rather than helped
by the decline in cotton, because it
| checks buying of some fabrics with lower
prices for print cloths and prospects of
lover prices for other goods
Failures this week are 231 in the
| United States against 231 last year, and
38 iu Canada against 81 last year
Bradstreet's Weekly Review.
NEW YORK, Oct. Bradstreet's will
| tomorrow say:
The volume of general trade for two
weeks has hardly reacned expectation
aud now assumes the character of be-
tween seasons. Wholesale dealers in
seasonable staples, such as dry goods,
clothing, hats and shoes, report only a
fairly active business, exceptions being
Al such places as New York, Baltimore,
| Chicago, Kansas City and Duluth.
A noteworthy feature of the week is
| the revival in demand for pig iron the
upward tendency in quotations of lead
ing cereals, and the liquidation in the
| cotton market Sales Of cotton goods
have been helped by favorable weather
and eastern as well as southern mills
are well sold up.
Cotton speculation has been active and
excited, with record breaking sales and
price declines in all markets. The price
mad advanc d from the lowest point in
February to 8 1-8c (spOD, gain of
8 9-16c in seven months. Speculation
more than discounted improved trade
| aud short crop estimates of prospects,
and the liquidation caused a de
cline of z Sc. Exports of wheat
| (four included as wheaD from both
coasts of tire United States this week,
| plus shipments from Montreal, show an
an increase over the total last week Of
about $50, 900 bushels, due to increased
exports from the Pacific coast. TIE total
| this week is 65S 600 bushels; in the
week year ago 1t was 853 600 bushels;
two years ago, 8, 327 900 bushels, and in
the like weeks in 1892 it was A, 4,078, 600
| bushels
Sugar Drops an Eighth.
PHILADELPHIA, Oct 25 All grades of
sugar dropped an eighth of cent TO day
on account of dullness in trade and
large accumulations of refined sugar L.
is rumored in this city to day that the
National Sugar Refinery of New YOrG
will shut down on the first of Novem Der.
Very little sugar is being shipped west
by the eastern refineries on account of
the large quantities of New Orleans
sugar which can be landed in the west at
much cheaper rates. Owners of the