The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-08
April Sales Fall Only 10 Per
Cent Below Biggest Year.
NO DECREASE IN VOLUME
CROP PROSPECTS ARE A LITTLE
BETTER FOR COTTON.
COTTON GOODS BELOW MARK
Orders Small For " ool Manufactures
Great Anticipations Pushed Produc-
tion SO Far That Four Furnaces
Stopped--Faiiures Fewer.


Faiiures Fewer.
New York, May 7.-R. G. Dun & Com
pany's weekly review of trade tomorrow
will say:
Nearly all will be astonished to learn
that actual sales in April by leading busi-
ness houses in each line of business in the
principal cities east of the Rocky Noun
tains average only about 10 per cent less
than in April 1892, the year of largest
business hitherto, and were 81 per cent
more than in the same month last year
Yet, this is the summary of 357 reports,
each covering actual sales of leading
merchants in line of business in one of
fourteen cities. They are especially en-
cOurag ging in view of the great fall of
prices within the five years and with ex-
ceptional floods and other retarding infu-
ences this year. While speculative busi-
ness in nearly all lines is small and does
not swell clearing house returns as in
previous years, the volume of legiti-
mate trade shows no corresponding de-
crease and the fact is one of the highest
Importance in all business calculations.
Moreover returns of failures for April by
branches of business, given only by the
mercantile agency, show decrease in
number, amount and average of liabili-
ties in almost every branch of trade and
in nearly all branches of manufacture
except cotton, although failures of FIVE
New Bedford mills for $3.50, 734, made
the total defaulted liabilities for the
month 40 per cent larger than last year,
sixty per cent larger than in '95 and 80
per cent larger than 1894. The value
of reports tracing failures to particular
lines of business is impressively illus
trated.
Crop prospects are a little better for
cotton because of the passing of floods
and the increase of acreage elsewhere
and for spring wheat because the Gus
tomary accounts of Injury to winter
wheat begin to appear and stimulate
larger sowing of spring wheat than us
ual. Western receipts continue larger
than last year, 2,34S, ,605 bushels, against
2,20S,972 and Atlantic exports also in
crease, amounting to LAOS, ,167 bushels,
flour included, against l ,040, 161 last year
The weeks exports of corn, 2,125, ,043
bushels, are smaller than in other recent
weeks. The wheat market declined =
cents until Tuesday and then rose 112
cents. Liverpool speculations lifted cot
ton to 10 cents, but it has lost a six
teenth and the consumption in manufac-
ture does not appear to be increasing.
The demand for cotton goods has not
met expectations and neither the pro-
longed curtailment of production by
many mills, the large distribution of
goods since November, nor the great auc
ton sale has yet ,sufficed to reduce the
surplus of goods. Print cloths are again
lower at 2.44 cents, the lowest point ever
reached in previous years and though
some kinds of goods have found sufficient
demand to advance prices little, the ex-
pectation of better prices and larger con-
sumption in future still seems to push
the mills to exceed present wants. The
same is true of wool manufacture i'll
many branches, for orders and sales thus
far do not call for as large production
as appears, though it is yet much below
the maximum, but the increasing de-
mand has been encouraging. Sales of
wool, at prices firm but no longer rising,
fall much below recent records, indicat-
ing that spectators are growing less sure
plies on hand. At the three chief mar
kets they were S,O25, 200 pounds, of
which 5, ,744 900 were foreign, and in five
weeks the sales have been 49,737, $50
pounds, against 23,327 100 in the same
weeks of 1892, when the mills were we'll
employed.
The anticipation of better prices and
great increase in demand pushed pro-
duction so far in iron and steel manu-
facture that four furnaces in eastern
Pennsylvania and others in the Pitts
burg region and Ohio have stopped. Bes-
semer pig at Pittsburg has declined to
$9.4O and Grey forge to $40. Pressure
to sell billets lowers them to $14; tank
steel plates have sold below one cent, and
common bars at 80 cents per 100 pounds
with black sheets in light demand at
$3.50 for No. q. Yet the structural
works are we'll employed on old orders
with others coming in, one of 10000 tons
for the Montreal bridge and others at the
east and at Chicago. The rail works
are all busy on orders taken months ago.
though there are efforts to revive the
pool. One contract for 10000 tons of
steel plates is reported and some OF the
tin plate works are sold ahead for the
year.
The visible supply of tin has increased
5000 tons in April and the price is a
shade lower at 1925 cents.
The heavy sales Of Lake copper are be-
lieved to cover some large consumers for
most of the year.
Failures for the week have been 221
in the United States against 23S last
year and 36 in Canada, against "a last
year.
BRADSTREET'S REVIEW.
New York, May 7.-Bradstreet's to-
will say:
Favorable business features this week
include the continued decline Of water In