The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-09-25
s6,50O,0O0 IN TWO DAYS
MERCHANDISE EXPORTS in
GREASE. IMPORTS DECREASE.
COTTON 2CTS. LOWER SINCE AUGUST
e;ood Advance for Bessemer Pig and Structural
Work is Behind 0rders--Cotton Bust
ness Doing Large Business but
Recant R,iving Decreased,
Recent Buying Decreased.

Now York. Sept. 24.-R. q. Dun ana
Company's weekly rev.ew Oh traoe VIII
nav in it's issue tomorrow:
Cold imports have begun direct from
ENGLAND and from France, beside the
crr;val of S4.O00,000 at San Francisco
from Australia for wheat exported. Inc
gold received there and started from Eu-
rome amounts to S6,500,000 in two days
and the advance of its rates by the
Rank of England to 212 per cent seems
little likely to check the movement, IN
view of heavy merchandise balances
dine TO this country and rise in the rate
of interest here. The August excess OF
merchandise and specie exports over I'M
ports was not far from AZ million doi-
lars and the September excess VIII De
larger, unless shipments of gold are con-
siderable Merchandise exports from
New York in three weeks of September
have been 1873 per cent over last year
and imports 1871 per cent less, and IKE
changes on the whole trade for the
month would result in net exports or
So million dollars merchandise, beside
silver.
Produce markets have been uncertain.
closing a fraction higher for both wheat
and corn. while the decline in cotton con-
tinues. With SA cents paid for snot
ut the end of August, cotton has dropped
~ cents or IS per cent in less than
four weeks. Fever in some southern
cities has not been largely influential and
the main factor has been general im-
preston that estimates are as misleading
as they were when the yield was the
greatest on record. The corn estimate
credited by the trade is only 1.750 O0O,-
rIe hut go laJ
tending to show a surplus from the last
crop OF 400, 000, 900 bushels over ordinary
consumption. Were this quite believed
the price would not be rising, although
exports continue heavy, in three weeks
1922. $40 bushels against 6,150,1S7 last
year Wheat has gained a fraction for
the week, while Atlantic exports, houl
Included for three weeks have been 70
49S,1o1 bushels, against 6,1S3,743 last
year. Western receipts are exceeding
last years, and foreign estimates now
agree IN making the probable requirement
from this country over 100 million bush
els greater than last year.
Tie Official ending of the western coal
strike adds many thousand men to the
working force in the mines and others
IN manufactures using bituminous coal
The anthracite coal strike has ended, and
no extensive labor disturbance lis threat
ened- The output of coke is now 125, 900
tons and the price is also advanced
Heavy buying has raised Bessemer pie
at Pittsburg to 1880 and grey forge TO
$50 with actual sales of 10000 tons
southern pig in the Mahoning valley for
6.75 at Birmingham. Billets are quoted
at 1926 and S23 has been refused for
wire rods. The structural work is be-
hind orders, tin plate mills are hindered
By failure to get sheet bars delivered fast
enough. plate and shoot mills find heavy
demand everywhere and bars are in great
demand for cars at the west The aver
age advance of iron and steel products
from the lowest point is SO per cent.
Wool sales at Boston have decreased
a quarter but manufacturers are still
unable to find profits in goods with wool
ut present prices. Reported sales Of wool
are more than double those Of the most
2r0sperQEs years, but the rise in prices
renders the future more doubtful except
for manura cturers having heavy supplies
laid in. The cotton mills are doing
large business, although recent buying of
goods has decreased after the recent rush.
Failures for the week have been 200
IN the United States against 315 last
year and % in Canada against 80 last
year.