The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-06-06
WEEKLY REVIEW OF TRADE.
General Business Continues Depressed
In Nearly All Lines.

w weary Fh Lines.
New York, June 5.-R. G. Dun e.
Co.'S. Weekly Review of Trade. which
issues tomorrow, will say:
1t is highly suggestive that, with as
little help as there is now from new
business. markets are so nearly main
tanned. Summer is close at hand, and
with new crops promising well and old
stoks large, it is no wonder that the
farm products are cheap. The fac
tories and mills are still waiting for
the rush of business seen last year,
and, in spite of narrow orders at pre-
sent, are generally holding on with
much confidence. 1t is so late that
gold exports no longer alarm, for the
date of expected returns draws near.
The opinion gains ground that more
active business is to be expected after
the conventions have been held, and
the safety and suficiency of crops
have been assured.
Low prices at this season affect
farmers very little, but they do affect
the spectators who have bought from
them for a rise. Decline in wheat and
cotton has helped marketing the sur
plus so that exports have been more
liberal-from Atlantic ports, 1927
All bushels wheat for the week, flour
included, against 1,555,30S last year,
while western receipts, 2,006,475 bush
els against 1,726,457 last year, increas-
ed much less than heretofore. Esti-
mates entitled to most confidence
point to probable yield of SOC, 000,-
900 bushels wheat, which, with the
stock carried over, will clear away any
danger of oppressive charges for bread
stuffs, at the same time giving pro-
ducers a fair return. Estimates of
cotton acreage by the best authorities
indicate crop of ten million bales,
if weather and the surplus from past
crops is certain. with only fair yield,
to be large enough to prevent any
harmful rise, as a yield exceeding the
maximum worlds consumption of
American would probably cause some
decline.
The hardest problem of the day is
whether iron and steel prices can be
maintained, as they have been during
the past week. The nail associations
have failed thus far to win over com
petitors who undersell them, and are
able to manufacture $4,000 kegs a
gainst every 100000 by concerns in the
combination.
The bar association asks for iron
more than the selling price for steel
bars Open hearth billets are more
freely sold at Pittsburg below the
price asked for Bessemer, and middle
men are still selling Bessemer billets
about 81 below the price fixed by the
pool Naturally the doubt regarding
maintenance of prices greatly checks
the demand for the present but belief
that much larger demand is certain,
and will not long be delayed, is the
one thing which prevents considerable
decline.
Failures for the week were pa in
the United States against 1875 last year
and 90 in Canada, against 25 last year.
BRADSTREET'S REVIEW.
New York, June 5.-Bradstreet's to-
morrow will say:
General trade continues depressed
in almost all lines. Demand is smaller
than week ago, and request for, and
offerings of, commercial paper have
decreased Mercantile collections con-
tinue to be complained of, and the
tendency of prices, particularly OF ce-
reals, sugar, coffee, pork products, cot
ton and cotton goods, and iron and
steel continues downward.
At the South the more favorable fea-
lures are the rain which has visited
South Carolina, Georgia and Alabama,
and will benefit the crop; about one
sixth increase in the cotton acreage
of Texas; higher prices for rosln, ana
larger volume of business at Nash
vile, Charleston and at Baltimore
Nebraska's crop prospects were never
better There is a moderate increase
in demand for dry goods at Chicago,
but business there is generally de-
preciating. UnseasonaIbly cool weather
and rain have interfered with retail
trade in the territory tributory to Kan
sas City.
WEEKLY BANK CLEARINGS.
New York, june 5.-Total bank clear
ing in the United States, 1915, 548,O1o'
Per cent decrease compared with the
corresponding week last year, 14.5. To-
tai exclusive of New York, $3.50, 022,91S
per cent; decrease 1913.