The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-11-16
THE EXPORTS OF GOLD
SCARE ABOUT THE RESERVE
HAD LITTLE EFFECT ON
BUSINESS.
THE WEEKLY REVIEWS OF TRADE

The Government Crop Repert Unset-
tied the Cotton Market and the Col
lapse Ofthe Kafr Boom Abroad has
Caused "a Furry in the Money mar
ket--Distinct Failing OF in the De-
mand for Iron and SteeI-.Long List
of Decreases in Merchandise.
NEW YORK, Nov. 15.-R. G. Dun &
Co's.Weeldy Review of Trade which is
sues tomorrow, will say:
The scare about gold exports had no
real significance, and although $2,-
100000 more will go out to-day, the
stock market has been recovering.
There was and is substantial cause of
| difficulty in the fact that exports of
products have been too small to meet
the greatly increased imports of mer-
chandise. The collapse of KafIir specu-
lations abroad has forced many to
realize on Americans held, and the inn
preston that our government may
have to borrow again also operates to
our disadvantage. But there is no local
disturbance of money markets.
The government monthly crop re-
port has caused, as usual, rather more
| uncertainty as to it's Interpretation
| than previously existed as to crops.
The cotton statement, lacking account
of acreage on which it is based, was
of only speculative value, and the mere
rumor that Mr.. Neill had reduced his
estimate of the crop actually weighed
more than the official estimate. The
bottom fact is that even a smaller
crop than anybody expects with the
three million bales carried over, will
| assuredly prevent any famine in cot
| ton. Meanwhile the exports decrease
SO per cent in quantity.
Wheat perplexes the oldest inhabi-
tant. There is really little reason to
expect yield larger than last years,
but western receipts, 8,202,S bushels,
against 4,026, ,639 last year, do not mean
scarcity OF wheat
The output of pig iron, November /,
| was u Z 500 tons weekly, about 10 per
| cent larger than ever before and con-
tinuarse of the same production for
six weeks more would make the hall
years output 5,350000 tons or more,
about 100000 tons greater than in any
other half year. The startling TACT IS
that the demand for products of iron
and steel falls off, Notwithstanding the
| increase in the output in pig, and
| though only a few concerns have
closed or reduced work or wages on ac-
count Of lack of orders, prices are sink
ing, having declined 2.7 per cent for
the week, and GA per cent from the
highest point.
For the past wek failures have been
283 in the United States against 270
last year and 40 in Canada against 80
last year.
Rvadstreet's Weekly Revi W.
NEW YORK, Nov. 15.-Bradstreets s
tomorrow will say:
The condition of general trade con-
tinues irregular and without material
change There is a distinct falling
off in demand for iron and steel, with
perhaps the heaviest reaction IN quo
tations in those lines reported in any
week since the late boom in these met
ais reached it's climax. Central West
ern cities continue to feel the unfayor-
able influence of unseasonably mild
weather, which is true, as well OF cities
. in the Northwest. Then there is the
long list of decreases in quotations for
merchandise, wheat, corn, oats, pork,
|
, cotton and print cloths and lumber lat
Boston, as we'll as various grades of
iron and steel, copper lead and weak
. er quotations for tin plates. The CON
verse includes an unexpected improve
ment in woolen goods, increased or
ders for manufacturers, and higher
prices for several qualities OF goods.
Total exports of wheat (fiour in
cluded as wheat) from both coasts of
the United States and Montreal this
week aggregate $685. 900 bushels, the
largest weekly total this year since
! the middle of last January Last week
, the total was 2,566,000 bushels, in the
, week one year ago it was 1900, 600
! bushels, two years ago, it was 2,645,-
900 bushels, while in the second week
, of November 1892, corresponding eX-
ports amount to 3,943,000 bushels.
Total exports of Indian corn from both
. coasts of the United States this week,
, 100000 bushels, so per cent more
, than last week and the largest weekly
total of exports of Indian corn since
the third week of April 1894.
r Week,v Cation Statement.
NEW ORLEANS, Nov. 15.-Secretary
> Hester's Weekly Cotton Exchange
: statement issued before the close of
business to-day, shows falling of
in the movement into sight, compared
with the seven days ending this date
last year in round figures of 100000
bales, with the same days year before
, last of $1,000 and an increase over the
same days in 1892 of 10000.
For the fifteen days of November
the total shows a loss from last year of
! 900, from the year before last of
1876, 900, and from 1892 of 66,O00 The
amount brought into sight during the
past week has been 3,120 bales
against 522, 800 for the seven days end
ing this date last year, 390,015 year be-
fore last, and 303,760 for the same time
, in 1892, and for the fifteen days of No
yember it has been 6G9,1 this year
against 1928, 107 last year, 860,605 the
year before last, and 5,484 in 1892.
| Foreign exports for the week have