The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-09-28
A SHORT COTTON CROP
THE UPWARD MOVEMENT IN
PRICE A FEATURE OF THE
sWEEK'S BUSINE ESS.
THE WEEKLY TRADE REVIEWS

I
Other Striking Features of the Week
| Are Increased Demand for Money,
East and West, a1d the widespread
and Active Demand for Iron and
Steei..Gra;n Producers in the West
viii Hold Their Wheat for Higher
Prices..Failures for the Week.
NEW YORK, Sept. 27.-R G. Dun &,
Co.'S weekly review Of trade will say
The speculation in cotton has lifted
the price five eightbs during the past
week, and quotations here are so mueh
higher than at Liverpool that free ex
ports cannot be expected. 1t seems no
longer possible to hope for a good crop,
and Neill Bros have issued a circular
predicting yield of 1000, 900 bales.
The accounts of injury and loss grow
more dismal every week, and while they
may be somewhat exaggerated, the gen
| eral outlook is decidedly unfav0rabla
But for the extraordinary supplies car
ried over from last year, the maDufac
turer here and abroad would be in
trouble. But prices of goods rise each
week, adding 70 the profits Of mills,
| which on both sides Of the ocean can use,
for some time to come, old cotton boUgl t
at low prices.
1t is not yet clear how far the con-
sumption viii support the manufacturer
at the present rate and at present prices
| for goods, though the demand from deal
ers is naturally urgent, while the market
for the raw material is constantly rising
There is still some chance of strike in
Fall River mills, though the rise in prices
will make it essier for the mills to grant
some advance in wages.
Nothing is clear about the iron and
steel manufacture, but some of the
largest Pittsburg concerns, protesting to
| have orders for many months ahead,
are bidding for small contracts in east
ern markets at 81 to 81 so per ton less
than quoted rate. Some say that it is
done TO dfpress the market, and again it
is thought that the object may be to Guy
material. Contracts have been made at
the east for $50 tons of foreign ore to be
used in Bessemer iron making at eastern
furnaces, and the termination of the
Margette strike sets free about half a
million tons more of Bessemer ore within
the period Of lake navigation.
Failures for the week have teen PIC
in the United States, against 235 last
year and 80 III Canada against So last
year.
BradstFeet's Weekly Review.
New YORK, Sept. 81 Bradstreet's
to morrow will say:
Striking features of the week are in
creased demand for money, east and
west the maintenance of the widespread
aud active demand for iron and steel, and
the further upward movement of the
price of raw cotton, together with ad-
yances in quotations for wheat -four,
wheat and wool. Sudden changes in the
weather affecting a wide expansion of
territory have made general trade
irregular but reports from those sections
nnfavOrably affected are in part offset
by the stimulation of demand for certain
staples in other portions of the country.
General business at the south has
shown improvement at Memphis, Nash
for funds there is improving and all that
appears needed is a freer movement of
cotton. On the Pacific Coast, Seattle |
continues to ship general merchandise |
to Central America and to Alaska freely, |
and Tacoma reports the wholesale |
grocery business heavier there than in |
1894, with the Alaska trade improving. |
General business at San Francisco is |
comparatively quite. The canned fruit |
output at California will be about equal !
to that Of last year.
kilograms to Bradstreet's from widely |
different points seem to indicate very
general intention on the part of grain
producers to hold their wheat for higher
prices This refers to spring wheat ter
ritory tributary to Minneapolis and to
the wheat country in Oregon. Wheat
exports from both coasts of the United
States and from Montreal this week
(Which eat -four as wheat are the largest
since last March 3,15l 900 bushels |
against 2, ,538, 600 bushels last week, 2,
562, 600 bushels in the week one year ago, |
aud as compared with 3,189, 600 bushels
TWO years ago, and with 4,017, 600 bush
els three years ago.
sank Clearings for tbs Week.
NEW YORK, Sept. 27.-TOtal bank
clearings at the principal cities for the
week ending September a. 1907, 924, |
422; increase, 20 8. Exclusive of New
York, $433 0G4, 655; increase, II s. Do
miniOn of Canada. $l9, 1858, 524; decrease, |