The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-01
BRAOSTREET AND Gun
INCat aSe GF FAILURES
G0.II\ l.;.,i1lA ENT is SLOW
AND PRICES ARE LOW.
SIGNIFICANT EXPORT OF GOLD

Per Cent Over last Y ear Wi ex-
sraordinary Imports of WOOL
Iron and Steel Slow.
New York, April 30.-Bradstreets to-
morrow will say:
The more conspicuous features of trade
are less satisfactory, including moderate
reactions in prices of staples, falilhg
off in the volume of transactions IN var
ious lines. continued slow collections ana
less favorable conditions in the iron, steel
cotton and some other industries.
There is less demand for staple varle-
ties of iron and steel, makers reporting
trouble in securing specifications Tor con-
tracts on hand. Southern pig iron mas
secured lower rail rates to points west OF
Pittsburg and Buffalo, all which saving
has been given the purchaser. The out
look is for the shutting down of some
furnaces in the Pittsburg district. Sales
of wool have declined sharply but re-
ceipts of foreign have brought up the
week movement to a fair total. Nearly
wears supply has been imported during
the first four months of this year. Ihe
movement of cotton goods is slow ana
prices are low, buyers purchasing IN large
lots only where inducements are oHered.
Woolen manufacturers are fairly sup
piled with orders and are inclined TO
ask an advance on new business. Inc
three months restrictions OF output III
cotton goods has ended, ana mills VIII
now run ON full time.
The prices movement furnished little
basis for special encouragement, the
only advance on general recognized con-
he's nf l<nrE n nd
Higher prices for woOlens Is an eHort
to anticipate the tariff.
Exports of wheat flour included as
wheat) from both coasts of the United
States amount to only ], 1,15S, $50 bushels
this week, against 1864, 600 bushels last
week, 1,260,O00 bushels in the week
a year ago, 2,555,OOO two years ago, p
773,OOO bushels three years ago and as
compared with 2,776,O00 bushels in the
like week in 1885 The current weeks
exports of wheat flour included) are the
smallest since the second week in May
1891 Exports of Indian corn have also
fallen off this week, amounting TO 81
657. .465 bushels, against 4,769,O0O BUSH
els last week, 2,142,0O0 bushels in the
week a year ago. 1,O16,O00 bushels two
years ago, $4,000 bushels three years
ago and as compared with 1,040,O0O bush
els in the like week of 1893.
There is moderate increase in the
commercial death rate, there being 244
business failures throughout the United
States this week, compared with ZIG last
week, 254 in the week one year ago, FOG
two years ago, 179 three years ago and as
contrasted with 24S in the last week Of
April, 1893 There are 81 business fail
ures reported from the Canadian do
minion this week against % last week, 26
in the week year ago, 30 two years ago
and as compared with 33 in the cores
ponding week of 1894.
DUN'S REVIEW.
New York, April 3O-R. G. Dun and
Company's weekly review of trade to-
morrow will say:
In spite of moderate improvement in
most of the great industries, business is
disappointing. Expectations of the speedy
end of war in Europe through Turkish
victory have helped to depress grain.
Demands of Austria and China have caus-
ed exports of $6,500,000 gold, merchan-
disc imports are greatly increased, and
final action of Congress on the revenue
question seems more remote.
Wheat rose last Saturday nearly
cents, but has fallen since that day a.
bout five cents. This is. largely because
European markets did not sustain the ex-
pectation of great foreign demand after
the outbreak of war and because events
appeared to foreshadow speedy peace,
but the tidings from wheat growing
States, the receipts from farms and the
enormous exports of corn, all had infiu-
ence. Corn exports have been 13,250,-
1917 bushels in four weeks, against A.
1869 last year, while Atlantic exports
of wheat in the same weeks, -four in
cluded, have been only ,231 ,34S bushels,
against 1857 ,215 last year Nor is this
surprising, for if in use two bushels of
corn only equal one bushel Of wheat, two
bushels of corn would cost about sixty
cents and the one bushel wheat nearly
so cents. Western receipts have been
reduced perhaps in part by foods and
interruption of traffic. The cotton mar
ket has advanced quarter OF cent,
owing mainly to a speculative impulse
from England.
The exports of gold would not have
much influence if there were not an eX-
traordinary increase in merchandise I'M
ports and some decrease in exports from
New York, large for the last week, and
five per cent for April. Imports have in
creased about sixty per cent over last
year for the week and for four weeks
have been 80 per cent greater. At BOs-
ton imports of wool have been extra
ordinary and at Philadelphia they have
amounted for the month to $1,27S,OOO.
The thought that this abnormal increase
may continue as long as action on the
revenue bill is deferred tends to affect
exchange, but the main influence at pre-
sent is the exceptional demand for re-
construction of the Austrian monetary
system and for Japan.
OF the great industries, the iron and