The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-06-05
IMPROVEMENT BOTH IN DEMAND
AND PRICES.
War NOT SO SATISFACTORY
The Movement Generally rs Less Sa"s-
factory Than That of Last year
Though There is Gratifying
Decrease in Failures,

business and Improvement VII uehi'l0 ''"'
nrices of iron and steel. Crops at the
southwest, particularly Texas, have I'M
nrovad with seasonable rains, and the
prospect favors larger exports of wheat
from the Pacific coast. a fairly sa1sfac-
tory jobbing trade continues at leading
cities in the northwestern spring wheat
States.
Business. as a whole. shows no pro-
nounced activity and the tendency of
funds is to accumulate. Where the vol
ume of business exceeds that of year
ago. as it does in a few lines, profits are
frequently SO reduced as to render this
years movement less satisfactory. Or
ders for dry goods, clothing and shoes for
nearby delivery, have fallen off. The
anticipated midsummer Industrial dis
turbances, particularly in iron and steel,
promise to influence business unfayOrably
during the summer months.
Exports of wheat flour included as
wheat) from both coasts of the United
States and Montreal this week amount
to 100000 bushels, compared with p
OS1 90 bushels last week, 3,209, 900 bush
els in the week a year ago, 2,991 900 two
years agos 2,742,000 bushels three years
ago. and as cOntrasted with 100000
bushels in the corresponding week of
1893. Exports of INDIAN corn amount to
2.396000 bushels last week, compared
with =, 1S5, 900 bushels last year, / ,623 900
bushels in the week a year ago. 1.149.0O0
bushels two years ago. $4,000 bushels
three years ago. and as contrasted with
629. 900 bushels in the like week of 1898.
There are 1871 business failures reported
throughout the United States this week,
a sharp falling off from last week, when
the total was 257 The total one year
and two years ago was 236 in each in
stance. and the ike week of 1894 1T was
207.
There are 81 business failures reported
from Canada this week, against 20 last
week, % in the week a year ago and -
two years ago.
Hamilton and Halifax show an in
crease of SO per cent for May, 1896,
compared with the like total year ago
and "a per cent in the first five months
of the current year as compared with the
ike total last year.
DUN & CO.'S REVIEW.
New York, June Ar. G. Dun 4 Co. S
weekly review OF trade tomorrow will
say:
The statement of failures in May by
branches of busimsls gives much en-
enlargement In amount of detFulted La
bilities the month was the smallest
since September. 1895; in manufacturing
Liabilities the smallest since November.
1895, and in trading liabilities the small
est except the last month since Septem-
Der. 1894. Failures of general stores have
not been as small in any month as i'll
Nav, 1897. in only two months out of
thirty-s:x have there been smaller fail
ures in books and hats, only five in grocer
les, and not one trading class III TINT
month has reported failures larger than
| in half the preceding months, though in
furniture failures are rather numerous.
In clothing manufacture the month was
the smallest except four out of thirty
six except five in chemicals, six iii wool
en- goods, seven in machiney, lumber and
! miscellaneous manufactures, and eX-
ceeded the average only in iron
and cotton goods and earthenware
The statement that, except for the de
preston in prices, the volume of business
| transacted is now larger than it was III
| 1S92-the year of greatest prosperity
| has been questioned ny some. But a
| comparison of prices this week III the
| leading branches of manufacture hot
| only confirms that view, bat shows 1e-
| markable similarity TO the course OF
| prices in the earlier months of 1879, when
| the most wonderful advance in products
| and prices ever known in this Or any
/ other country was close at hand. The
| key of the situation is the excessive pro
| duction of some goods in advance If IN
| expected increase III demand. SO Ii
| 1879 consumption gradually gained
month by month, until suddenly it was
/ found that the demand was greater thar
| the possible supply. All know how prices
| then advanced and the most marvellous
| progress in the history of any country
| resulted within two years. Reports from
| all parts of the country show that retail
| distribution of products is unusually
| large and increasing.
| There is no improvement in the market
| for farm products Cotton is not higher
| and the belief that the next crop will
be large in spite7of the floods is general
| while the demand for goods does MOI
change although in this country 1t il
| large enough to keep the market for mos
goods steady Nor is there any salts
factory demand for wooden goods, and the
sales of wool for the week have been only
| 5,S35,900 pounds, and for five week.
"a. 641 400, against 26,S00, $50 in the cor
responding weeks of 1892. The transac
tions greatly exceed the demands of TIT
mills, although these are larger than o
late, because the manufacturers of wool
en- goods have steadily increasing orders
The iron industry is apparently expand
ing production, and is certainly gettin'
larger contracts in part because of yer.
low prices, / cent being made for beams
| Bessember pig is stronger and grey forg
| "A shade weaker under pressure of south
ern anxiety to sell. The rail mills ar
i. all full, the Illinois Steel Company havin
orders for "a railway and bridges in Core
| and there is better demand for plates an
sheets, and from makers of agriculture