The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-06-27
But the Volume of Trade is No
Larger Than Last Week.
MILLS ARE CLOSING DOWN
The Monetary Question Playing
an Important Part.
THE CROP PROSPECTS ARE FINE
Relatively the Greatest Activity Has
Been Among the Dry Goods
Jobbers Who Are Trying
to Reduce Stocks.

| to Reduce Stocks,
New York, June 26.-R. G. Dun &
Co.'S. Weekly Review of Trade which
issues tomorrow will say:
The monetary outlook is not clear to
| some. The strength shown in recent
conventions by advocates of silver
coinage, and expectation that all the
elements favoring that policy may yet
be concentrated incline them to wait
ing attitude. Their uncertainty re-
tards improvement notwithstanding
the more widely prevalent feeling that
the monetary action of the St. Louis
convention will be sustained by the
people.
But many mills have waited as long
as they can with safety and signatures
have been given by enough cotton mills
of Fall River to ensure a temporary
stoppage, it is stated, the nature of
which is now under discussion in
conference with the Providence man
ufacturers. Meanwhile the Pacific of
Lawrence, and the Naumkeag of Sa-
lem have closed for a time, and prac-
tically all the Southern cotton mills
viii be represented at meeting on
Monday with the same object Wool
en- mills are acting without concert,
but IA are mentioned in dispatches as
having closed this week.
There is no similar movement in
other industries, though the period of
summer closing is at hand in many of
II. - G
to wages of iron puddlers and other
hands make it likely that the annual
stoppage in this industry may last
longer than usual.
The weakness of wheat, which has
declined 2.10 cents and of cotton which
is an eighth lower for spot, though
less for futures, have full explanation
in decidedly good crop prospects. Re
turns of harvesting thus far support
the best estimates as to wheat and
the condition of cotton has been de-
cidedly improved by rains. The clos
ing of many mills also threatens to
cut off the demand between this date
and September 1, by 10000 to 10000
bales, but in any event the stocks on
hand are ample.
Wheat receipts at Western ports
have been 2,696,692 bushels, against
only 7S7. 291 last year and for three
weeks past o,551,27s bushels, against
5.954,005 last year and while Atlantic
exports have sharply increased a.
mounting to 1867, 52T bushels, Hour IN
Guided, against 4,913,431 for three
weeks of June last year, there is no
reason to doubt regarding the suffi-
cheney of supplies.
Failures for the week have been PIT
in the United States, against ESQ last
wear. and "a in Canada against % last
year.
BRADSTREET'S REVIEW.
New York, June 26.-Bradstreet's
tomorrow will say:
A more hopeful feeling in trade cir
cles within the past ten days, explained
as due to the adoption of a gold plank
at st. Louis, has been given undue
| weight. Interviews with merchants
| in staple lines at twenty-five of the
most important distributing centres
show that. aside from The increased
| strength of wool in the hands of inte-
| rior holders reflected at Boston and
Philadelphia), an improved demand for
| hardware at Providence, for clothing
| goods at Memphis, and in similar lines
at ST. Louis, there has been no improve
| ment in trade. At Chicago there is a
more hopeful sentiment. A canvass
| Of leading iobbers at important cities
| shows no expectation of a revival IN
| general trade until after election, and
| to some points no improvement is eN-
| pected until next year. The volume Of
H, To- fo.-
| week, in some lines it is smaller, nota-
bly,, at Pittsburg and Kansas City.
Midsummer dullness characterized the
operations at almost all points.
Relatively the greatest activity has
been among Eastern dry goods jobbers
who have sacrificed prices to reduce
| heavy stocks of cotton goods. Restrict
ed production of print cloths at Fail
| River is likely to be followed by similar
action at Providence and at Augusta.
In addition, there are reduced prices
for leaf tobacco, petroleum and cotton,
for wheat, flour, oats, pork, lard, sugar
and coffee.
Exports of wheat flour included)
from the coasts of the United States
| and from Montreal amount to 2, S37, 900
bushels, compared with 100000 bush
els ldSU week, 1,94b, O0U bushels IN the
week year ago, 1,717000 bushels in
the week two years ago. and as COM
pared with 3,97t.0 900 bushels in the
fourth week of June, 1898.
WEEKLY BANK CLEARINGS.
New York, June 26.-Total bank
clearings at principal cities for the
week ending June goth, showing in
crease or decrease as compared with
the corresponding week of last year.
$500, 553, 832; decrease, 10. Exclusive
of New York, 1894, 796.235;; decrease,
1912. Dominion of Canada, 1880, 453;
decrease, III.