The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-09-14
A SLIGHT SETBACK
PRICES SETTLED BACK A LIT
TIE, DESPITE GLOOMY DE-
DEPARTMENT REPORT.
CONFIDENCE LACKING IN REPORT

than Last Year from Larger crop
But Exports are Not SO Large bl
Half-Failures Fall OF about Sixteen
per cent. Against Same Week Las
Year-A Marked improvement il
Iron.
New York, Sept. 13.-R. G. Dun &
Co., in their Weekly Review of Trade
will say:
A slight set back, which may NEAR
much or nothing, according to the fna
outcome of the crops, is not unexpected
at this season. If the government
crop reports were correct, the situa
ton would not be encouraging. But
not much confidence is placed in the
reduced estimate of corn, none at all IN
the estimate of wheat, and even the
most enthusiastic bulls do not think
ii worth while to quote the government
report as to cotton. The fact is that we
are beginning to market not Tar from
2,20O, 900, 900 bushels of corn, though
only about 500, 100000 bushels will be
moved from the counties where 1t IS
grown about 400, 900, 900 bushels of wheat
of which the farmers are holding back a
large proportion; and about 100000
bales of cotton, if the late indications
are not erroneous as they easily may be,
to add to the stocks carried over.
The commercial stocks of cotton sep
TENDER list, here and abroad, amounted
to 2,100. 53S bales, and domestic mill
stocks were 360,61S bales, allowing not
a single bale for increase OF stocks at
Southern mills.
Prices have settled back a little during
the past week Notwithstanding the
gloomy department report.
The wheat crop is evidently larger
than the department has estimated,
though nobody knows how much larger,
and is coming forward with more en-
couraging rapidity, no less than 5,773,-
173 bushels having been received at
Western ports against 5,446,00l
bushels for the same week last
year, from a much larger crop. The
farmers have undoubtedly been keeping
back wheat under an agreement among
themselves, but it does not seem profit
able operation for them. Exports from
ports for the week of September have
been 2,247,8 75 bushels, flour included,
against $40, 926 bushels last year. The
price declined sharply about cents per
bushel with little indication of recovery.
The price of corn has also yielded
strong prospect of the largest crop ever
grown and at 80 cents at New York and
a large proportion of the crop will be OF
little profit to farmers.
Il we are TO have large crop of grain
and small crop of cotton it Is natural
to infer that manufacturers may lind
large transactions at the West but not at
the South. There is in fact very large
demand for goods at the West, and west
bound shipments are unually large, al
though the east bound shipments from
Chicago for four weeks of August amount
to only 210, 308 tons, against 222, l44 Tor
the same week in 1894
Cotton goods have been strong, with a
comparatively good market for raw cot
ton. but at the close decline is indi
Gated, because the market for raw cotton
has shown much weakness.
Failures for the week were 1877 in the
United States, against 219 last year, and
"a in Canada, against IA last year.
Bradstreet's Review.
New York, Sept. 10. -Bradstreets to-
morrow will say:
The week is characterized in trade
circles by an unexpected, but no less
pronounced improvement South and
Southwest. This is reflected at markets
from which supplies are distributed to
these regions. Relatively unfavorable
features are found in quieter tone in
dry goods and jobbing circles; a check
of seasonable trade throughout the
central West, due to the unusual heat,
low prices for mems wear woolens, and an
unsatisfactory outlook, due to depressed
quotations abroad; only moderate orde,s
for domestic wooden manufacturers;
cancellation of few Nebraska general
merchandise orders at Chicago, and the
somewhat critical position of the Ameri-
can tin plate industry, owing to the
heavy advance in price Of tin plate,
bars, without a corresponding increase
in the price of tin plate.
The most bullish report comes
from St. Louis, where there are
many country buyers, and all lines Of
staple merchandise are active, with the
railroads making freer purchases, a. d
the manufacturing industries pressed to
keep up with the requirements Kansas
City, too. also distributor into the West
and Southwest, reports unusually prompt
mercantile collections and relatively
enormous orders placed with the whole
salers for shoes, dry goods and hard
ware.
At the South fall trade is opening up
more freely than anticipated, with
marked improvement in business and IT.
creased confidence as to the outlook at
Jacksonville, Atlanta and Augusta. The
improvement in iron has had an infiC-
ence at Birmingham and throughout the
tributary region, an evidence of which is
found in the temporarily inability OF
Birmingham wholesalers to meet the de-
mand for hardware and groceries.
Aside from the irmness Of cotton
goods prices, which is feature in trade
circles North and East, the most COZ
suicuCus movement is the continued &C