The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-10-19
A CORNER IN COTTON
EXPORTS HAVE BEEN ARREs-
TED BY THE ADVANCE
IN PRICE.
THE WEEKLY TRADE REVIEWS

A New Orleans Man is Back OF the
Deal in COttOn--Further Gold Ship
ments Threatened by the Derange-
ment of Exchanges--The Iron Indus
try Still Booming and Textile Manu-
features are Finding "a Strong Mar
ket--Failures for the Week.
New YORK, Oct. 18.-R. G. Dun &
Co.'S Weekly Review of Trade which
issues tomorrow will say;
'The events of the week are promising
in nature, though the speculative mar
kets arenOt entirely encouraging. The
great advance in cotton had arrested
exports and so deranged exchanges that
| shipments of gold were for time appre-
| hended but the break in the market in
| dicates that the natural movement of
| the product may soon be restored. The
| hating of demand and moderate yield
ing of prices in the great industrial
markets show that a season of reason
able attention to natnral conditions has
arrived, and gives hope that the future
demand will be more nearly propOrtioned
to actual consumption.
The cotton market has been partly cor
nered for eally delivery by New Or
leans operator and his followers, as it
has been twice in not distant years by
Liverpool spectators who ended in fail
ure. The estimate of Mr. Neill, who
has been conspicuously correct ia judg-
ing recent crops, indicate yield of g.,
500, 900 bales, where most spectators
had expected much less and led many to
realize the meaning Of 100000 bales
brought over from last year. The
actual receipts thus far, only II
per cent. less than last year from
crop of 100000 bales, fail to
support low estimates, and spinners here
and abroad with much unanimity, re-
frain from buying largely at current
quotations. Until the price recedes
tar enough to bring out liberal supply
of cotton bills, there will be possibility
of gold exports for other merchandise;
exports are small, from New York for
TWO weeks, 10 per cent. less than last
year, with imports in the two weeks of
October 20 per cent larger than last
year In September, dutiabIe imports
were 81 2, and for nine months 53.S per
cent. larger than last year.
Wheat does not go out freely, and the
attempt to advance prices on Monday
was followed by an immediate decline.
The iron industrysis still fully engaged
on old orders, bus new business is so
seanty that many of the works are seek
ing it at some concessions in price, and
the only large contracts have been at
1.75 to 80 for bridge plates quoted at
10 Uo28 8 cents. Quotations are not
lower, though any good order commands
some discount.
Textile manufactures have strong
markets for materials to support them.
But scarcely any advance is seen this
week in cotton goods, though the rise
for the month has averaged per cent
and there seems such halt as appeared
month ago in iron products
Failures for the week have been 263 in
the United States against 253 last year,
and 46 in Canada against 43 last year.
Bradstreet's Weekly Review.
NEW YORK, Oct. 1S. - Bradstreet's to-
morrow will say:
There is less push to the gen,
eral commercial movement this week,
indicated as much by reports from
eastern iobbers and others, whose trav-
elers have returned from trips west and
northwest. There are, of course, note
worthy exceptions, Baltimore merchants
finding relatively more satisfactory trade.
This is largely due to the remarkably
favorable conditions at the South. In
general, the volume of business appears
slightly smaller this week, but with
widespread, a though somewhat irregular
demand.
Throughout the west there are favor
able trade conditions, except north of
Missouri and Kansas where there is no
change from the previous moderate
volume, or where recent weather cOndi
tons have checked trade somewhat. AT
the northwest, "hold your wheat" senti-
ment Is spreading, but thus far does not
appear to have had much effect.
Exports of wheat from both coasts Of
the United States this week (hour in
cluded as wheat) amount to 100000
bushels against 2,244, 900 bushels last
week, and as compared with s, 1872, 900
bushels in the corresponding week year
ago, 2,709,00 bushels two years ago,
and with 3,270, 900 bushels in the week
of 1892.
Bank CIearings For the Week.
NEW YORK, Oct. 1S.-The total bank
clearings for the United States for the
week ending October IS, as compiled by
Bradstreet's with the percentage of in
crease or decrease as compared with the
corresponding week last year, were ST.
161, ,032, ,062; increase 21.9
Fifty WOTkmen Drowned.
ALEXANDRIA, Oct. 18,-A ferrybo