The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-07-24
WIDESPREAD CONFIDENCE
MARKED REVIVAL IN GENERAL
TRADE THIS FALL.
THE FALL BUSINESS ALREADY BEGUN
The Coal Strike, the Shutting Down of Cotton
Mills and the Unsatisfactory Condition
of the Wool Trade Are Depressing
Features of the Condition.

Features of the Condition.
New York, July 23-Bradstreet's to-
MORROW will say:
The widespread confidence that there
will be a marked revival in general trade
IN the fall continues to grow, and with 1t
suaterial evidence that it is well founded.
Chicago iobbers in clothing, dry goods
and shoes, and manufacturers there and
elsewhere of pianos, organs, wagons and
farm implements report that fall business
has begun, which is much earlier than
usual The distribution of general mer-
sffandise from st. Louis is a little less
active, although trade there is favorable.
Like reports are received from Pitts
burg Notwithstanding dullness in iron
and steel; Savannah, in spite of this be-
Ing the busy season on plantations: On
aha, Milwaukee. Duluth, Minneapolis
and ST. Paul, where merchants are feel
ing the influence of a prospectively large
crop of wheat, and from Galveston and
other points in Texas on the favorable
crop outlook and confidence in an in
creased movement of merchandise next
EalI.
Demand for supplies for shipment to
the Klondike gold region has made July
the busiest instead of the dullest month
in the commercial year at Seattle and
has mad an influence on sales of staples
al Tacoma. Portland and San Francisco.
The worlds wheat crop outlook con-
tfnues TO favor the United States much
rs It did eighteen years ago. The outlook
is that Russia. alone of all other wheat
xvilI no n fn
the United States. The advance of more
than 20 cents bushel compared with a
year ago, is in the face of a domestic
wheat crop of probably 100,000,000 BUSH
els larger than last year.
And the prospect for a continued higher
level for quotations, owing TO increased
demand from importing countries, ex-
plain why the American farmer is to Sc
cure his proportion of the advance and
the coming era of prosperity. That he is
alive to the situation is indicated by a
tendency to hold back wheat already
harvested, Notwithstanding higher quo
fations.
Unfavorable features include the con-
tinuance of the strike Of bifuminOus coal
miners in the western and southern
States, which now begins to threaten the
continued activity of industries depend
emit upon that variety of fuel, the prac-
+. teal stagnation Of the Bessemer pig iron
and steel billet markets, with prices as
Tow as ever known, the shutting down of
New England cotton mill machinery to
reduce the output and get rid of stocks
ON hand. and the unsatisfactory condi-
ton of the wooden goods market, owing
to the relatively low prices of products
compared with quotations for raw mate
NAL
Exports of wheat flour included as
wheat from both coasts Of the United
States and from Montreal this week
amount to 1,97S,S2S bushels, an increase
of 100000 bushels compared with last
week, for which shipments from the ports
of New York and Baltimore are yrgely
responsible. The corresponding total in
the like week last year was 3, 900
bushels, in the week two years ago L.
265, 600 bushels, three years ago 1885,,
600 bushels. and in the corresponding
period in 1893 it was 4,363,000 bushels
Exports of Indian corn amount to g.
29S,379 bushels this week, contrasted
with 2,723,0O0 bushels last week, 1,2SS,-
600 bushels in the week year ago, 770,-
400 bushels two years ago, 256,OO bushels
three years ago and as compared with l.,
5S7 90 bushels in the like week of 1893.
There were 900 business failures re-
ported throughout the United States this
week as compared with PAT last week,
go in the week a year ago, 239 in the
week two years ago, 237 three years ago
and 4S9 in the corresponding period in
1893.
There were q business failures re-
ported from the Dominion of Canada
this week, against 3S last week, 81 in
the week year ago and 20 two years
ago.
DUN & CO.'S REVIEW.
New York, July Or. G. Dun &
Co.'s weekly review tomorrow will say:
The end of uncertainty regarding du-
ties on imports gives greater confidence
alike to those who have opposed and
those who have favored the change. The
great strength in stocks, particularly in
those of the granger list, reflects assur-
ance of heavy crops. The remarkable
rise in wheat notwithstanding that as
surance is based ON heavy buying for
export and belief that foreign demands
will be large. To these must be added
another element of confidence scarcely
observed a week ago. The heavy in
crease in receipts of gold, whether from
one side of the Alaska. border or the
other, swells deposits at the minis and
IN the banks Of this country, and if the
yield from the new regions answers
current expectations may have an in
fiuence akin to that of gold discoveries in
California. The one retarding force, the
strike of coal miners, has caused clos
Ine of few manufacturing works for
kwant of fuel, but negotiations for settle
rnent are still pushed with hope.
The wheat market is the sensation OF
the month. Since July the price had
risen - cents by Wednesday, when q
reaction of cents was not surprising
but the close was * cent higher for the
week 1t is notable that this rise came il
the face of highly encouraging croI
news, which is not disputed, and had fol-
support nothing but foreign conditions
and demand. Actual buying for export