The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-04-17
BRADSTREET AND dun
Imports Increase Is Per Cent
Over Last Year.
MAY EMBARRASS BUSINESS
FLOODS HAD NO EFFECT ON
PRICE OF COTTON.
GREATER OUTPUT OF PIG IRON


But Fifteen Furnaces Stopped IN March
While Others With Larger Capac-
ity Started-..WeekIy Failures
Fall OFF Slightly.
New York, April 16.-R. G. Dun &
Company's weekly review Of trade to-
morrow will say:
An undeclared war between Greece
and Turkey has been responsible, more
than any other single cause for the
changes in business this week. Actual
fighting with facts which seem to make
formal declaration of war by Turkey
inevitable, have affected grain markets
much and stocks slightly. The progress
Of Mississippi floods does not change
the price of cotton, and settlement Of the
more important labor difficulties has re-
yived works suspended last week. The
temporary decrease in exports and large
increase in imports, at New York 2O.S
per cent for the month, caused questions
about the financial future which have
not much influence as yet. The increase
in imports, $9900,OOO, or over 10 per
cent from last year, and $11,1OO,OOO, or
$50 per cent from February, if long con-
tinued may embarrass some branches of
business, but can hardly exhaust bal
ances remaining from the unprecedented
excess of merchandise exports, S323,3S1, :
$40 in nine months ending with March.
The wheat market after its decline of
six cents last week, was prepared to rise
with prospects of European war and
increased purchases for export, and has
risen 437 cents since last Friday. Ex-
ports for the week are very small, and
for two weeks but little greater than
last year, while corn exports continue
over three times last years, and for two
| weeks 6,O32, O15 bushels against 1863
1913 last year, thep rice advancing less
than / cent. Western receipts Of wheat
are larger for the week, and. for two
weeks as large as last year, and the
government reports indicate consider
ably larger yield than that of 1896, which
has sufficed to meet an extraordinary
demand. Cotton has scarcely changed
during the week Of unprecedented floods,
| though this years crop will be materially
| diminished unless water soon subsidies.
| But there are numerous indications that
| in other parts Of the south large acre
age is being planted. The output Of
pig iron increases, though fifteen furnaces
| stopped in March, but others with larger
capacity started, and the weekly pro-
| duction April was 1929 tons against
169.9S6 last year. While 20 per cent
below the greatest ever known, the out
put is 81 per cent larger than October
| /, and stocks unsold increased scarcely
| any, though the largest on record. The
demand for nails and wire continues
heavy and in spite of large transactions
in the past, in structural work and rails,
Is still fair, while there is much doing in
machinery for export to Russia, Japan
and South Africa. But bars and most
other finished products are in narrow de-
mand and Bessemer pig is lower at 900
or less at Pittsburg with grey forge $S.65
there. and only $5.75 at Birmingham.
Delay in making contracts for lake ore
.retar1s demand for products, but hard
ore has begun to sell at So. 40. for chaplin.
Tin, ulate makers have. agreed upon
| $3.50 for full weight Bessemer against
l$3.a0 for foreign. Lead is unchanged
at 1856 and copper at, liz. The great
sale Of 10000 pieces Of cotton goods
was considered satisfactory as pieces
averag ed but FIVE to eight per cent below
the current market and a better general
demand is expected. Print cloths sell
lslowly without change. Wooden mills
are doing little. more though much ma
chinery is idle, and there is scarcely any
buying OF qualities recently advanced.
i Speculation in woods turns largely to for
eign, and imports Of 45,114 bales the
past week and 5,246 the previous week
/ at Boston alone, and have not prevented
higher quotations for the better grades OF
domestics., Sales at the three chief mar
kets were 5000, 600 pounds.
Failures for the week have been 207
| in the United States, against 222 last
year and 80 in Canada against SO last
year.
BRADSTREETvS REVIEW.
New York, April 16.-Bradstreets to
morrow will say.
The most conspicuous improvement In
trade conditions this week is in the wea
Their throughout Central and Western
and Northwestern States, where corn
try roadways are more passable. There
lis a better demand for building materials
particularly lumber. In staple lines
there is more active request at Port
land, Oregon; Minneapolis and st. Paul
Minnesota; Kansas City, Missouri, and
Aaltnta, Georgia, pointing to irregularity
Of the tendency to recover. Jobbers at
Chicago, st. Louis, Omaha, Cincinnati
and Chattanooga, report trade slow, or
that demand is decreased.
There is no sign Of trade revival in the
flooded regions, where the danger point
has moved southwark. If the water re-
cedes by May Is, one half Of the usual