The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-04-10
BRADSTRE[T AND Dun
Business situation, on Whole,
Shows No Gain.
INCRs ASe OF FAILURES
IN SPITE OF FLOOD COTTON
GAINED ONLY ONE-EIGHTH.
WHEAT DROPPED FOUR CENTS
Pig iron and Steel BiIIets Lower ard
Demand For Steel and Iron
Was Not as Heavy as It
Has Been.

was NOT dS nedVy dS "
Has Been.
New York, April 9.-Bradstreets to-
morrow will say:
The business situation, as whole,
shows no gain. Staple lines are only
fairly active. Overflows, washouts and
foods continue to do great damage IN
the Mississippi and Missouri river val
leys, throughout a greater portion OF
which general trade remains practically
at standstill. Rainy weather extending
from the central western to northwestern
spring wheat States has rendered coun-
try roads almost impossible, with the
natural effect upon business. As the re-
gion threatened includes the richest por-
rion of the cotton belt, the prospect Tor
delay in planting a second time Indicates
the possibility of a heavy reduction in
acreage this year, hence the advance in
cotton this week.
Pig iron, steel billets and cast iron pipe
are lower in price and the demand for
steel and iron is not as heavy as at has
been, although the price of lake ore has
been fixed at low figure and an ore pool
formed Wheat has continued as dis
appointing as iron as to the price. drop
ping nearly four cents q bushel on Brad
streets report of an increase IN the world S
visible supply last week, instead of
decrease, as expected, due to larger
quantity of wheat in sight abroad.
Chicago has only about held its own,
little if any improvement being reported
in trade there. st. Louis, more depen-
dent on traffic with the flooded region, re-
ports a decrease in volume of business
Jobbers at Omaha, st. Paul, Milwaukee
and Portland, Ore, report better de-
mand, notably in dry goods, oils, paints,
glass, shoes, and leather. Prospective
advances in the wool tariff are behind
another rise in prices of wool and wool
ems, but cotton goods thus far fail to
advance because restricted production Is
meeting current demand. Nearly all
staples, except those mentioned as haV-
ing advanced, have declined.
Exports of wheat flour included as
wheat) from both coasts of the United
States and st. John, n. B., this week
amount to 2,036,797 bushels, compared
with 2, AGA 900 bushels last week, ,764,OO0
bushels in the week year ago, 1884, 600
bushels in the week two years ago, 1,9oo,-
900 bushels three years ago and as con-
trasted with 2,94S, 900 bushels in the like
week of 1893. Exports Of Indian corn
amount to 4,645.5S5 bushels this week.
compared with 4,970,000 bushels last
week, 1891 900 bushels in the week
wear ago, S14,0 900 bushels two years ago,
1.427,9 900 bushels three years ago and
as contrasted with 90S, 5000 bushels in the
like week of 1893.
Business failures remain at the lower
level recently reported, 232 this week,
compared with 212 last week, 23l in the
week year ago, 225, two years ago
and 211 three years ago. There are ~
business failures reported from the Can
adian dominion this this week, against
.3S last week, 80 in the week a year ago
and 26 two years ago.
In spite of floods which must have ma
terially affected the prospect, cotton has
only advanced an eighth during the
week. The fate of those who were abb
,solutely certain that the crop of 1896
was very short, has left but little conf
dence for further speculation. Receipts
thus far still indicate a supply of Ameri-
can considerably greater than has ever
been consumed in one year, but uncer-
+ainty about the coming crop induces
m1,ch buying. The demand for cotton
goods does not increase, although sales
of fair magnitude continue, but print
cloths are dull Speculation IN wool has
heen checked by the possibility that du-
ties may take effect April lst, and some
large shipments from abroad have been
conntermanded while traders here are
loss disnosed to sell. But trading between
dealers makes I'D more than half the sales
of 10 739. 400 pounds for the week and
since sales in six weeks at three markets
have been 76,464 900 pounds, 1T is not
;mnrobable that many mills have, as IS
claimed a full years supply. The de-
mand for mems goods has diminished,
tho first round of purchases having been
completed by many buyers with results
fa;rlv enooura ging and the demand for
drass goods. especially of the lower
GRADES. has caused an advance or hve
per cent in some lines.
DUNN & COMPANY'S REVIEW.
New York. April Or. G. Dunn and
Company's Weekly Review of Trade VIII
say:
Out Of 4,OO6 failures with Liabilities OF
$50, ,752, sol, in the first quarter, "a bank
ing failures covered more than hfth
of the amount, $12,744 $50. and 3,345
failures with liabilities of $33,9f1.S92, or
nearly three fifths, are classed this week
according to branches of business, leav-
ing only 5S7 failures and less than a
fifth of the liabilities, s120G0.019 in
branches of manufacture or trade not
specified. Only two of the thirteen manu-
featuring classes, and only four Of thir-
teen trading classes shc.v liabilities for
the quarter larger tb01 last year, and
only five manufactur i;nd three trad
ing show aar2er ayewf liabilities. For
the month OF Marcliext three manufac-
turing anm four tas, :, classes show