The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-10-16
so BRADSTREET REPORTS
THE COTTON GOODS INDUSTRY
NO MORE FAVORABLE.
STEEL MILLS RUSHED WITH BUSINESS
A Correspondent of Bradstreet Says the Texas
Cotton Crop viii be Less Than Last
Year--AI Hope Of a Top
Crop Destroyed.

Crop Destroyed.
New York, Oct. 15.-R. G. Dun and
Company's weekly review of trade will
say tomorrow:
Foreign trade in September, The heavy
increase in iron production and consump-
ton and the largest payments through
clearings ever known in October, are
indications which outweigh hesita ton
in some markets. The increase in en-
ployment of labor has continued, with
further accounts daily of works opening,
increasing force of hands, or raising
wages, and at every point where actual
production can be tested it appears
greater than ever before. Efforts by the
the Bank of England have delayed fur
cher gold exports, but with a cotton
movement rising, large shipments to this
side are deemed certain and not dis
tant. More gold, however, means less
Just now than more iron.
The output of pig iron October was
200, 12S tons weekly, against 112,7S2
year ago, the increase since July l hav-
ing been twenty two per cent. Unsold
stocks have been reduced at the rate of
40,271 tons weekly in September, indi-
tons weekly, which is about 10000
greater than ever before and 40 per
cent greater than three months ago.
Prices of pig holds steady, though the
production has been further increased
since October first, and prices Of finish
ed products gradually rise with especial
ly heavy demand for plates, rods, bars,
while another contract has been taken
i, &bo TO
err 10000 tons of steel rails for Japan
and the Pennsylvania Company has
bought $4,000 tons.
Ore shipments on the lake surpass all
records. The Rockefeller Company has
contracted for another steamer with two
consorts to carry 10000 tons, the larg-
est ever built for the lakes. Makers of
black sheets have raised the price for
number % to 81. 10, and wire nails are
five cents higher, the average of iron
and steel products rising g per cent for
the week to the highest point since
April Sth. Tin plates are cheaper at
So. 10, with enormous production, and
copper at 11.12 cents for lake, with lead
at 40, but tin is fairly strong.
The cotton mills are producing as
largely as cheap cotton invites, and with
moderate demand print cloths are lower
at IA cents, and some grades of other
goods are slightly reduced. Sales IF
wool for speculation have greatly de-
creased, but manufacturers do not find
r. current prices are warranted by
their market for goods. though it is
strong and advancing. Sales of wool
for two weeks have been "a. 331 600
pounds, at the three chief markets, Of
which 1887 800 were domestic and
while quotations are maintained, large
lots previously withdrawn by consigners
are now offered. The demand for spring
goods is limited, but the prices of some
qualities have advanced a shade fur
ther. There is also some quiet contract
ing already for heavy weights.
Wheat has been fairly steady, but
moving more largely than last year from
the farms and from the country. West
ern receipts were 15,167 ,054 bushels in
two weeks of October, against 14,235,-
016 last year, and Atlantic exports, g.
Aga, 401 bushels, flour included, against
4,474, S45 last year, while corn exports
were 3,262,3S7, against 3,3O9,925 last
year. September exports of wheat sur
pass all records amounting to %, 500, S3S
bushels, against 17,646,S15 last year,
owing to high prices the value being over
100 per cent larger for all bread-stuffs.
The price of wheat has declined y of a
cent and of corn one per cent, with the
government report of yield exceeding
], 800, 100000 bushels. Cotton has de-
clined three sixteenths to 6.31 cents for
spot, some authorities of repute having
ptolished estimates that the yield will
be 100000 bales, but the movement is
yet retarded by the fever.
Failures for the week have been 223
in the United States against 328 last
year and SO in Canada against 40 last
year.