The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-14
BRADSTREET AND BUN
There Are Evidences of Wide
spread Revival.
THE FEELING Is BU0YANT
NOMINAL ADVANCE OF rs CENTS
A TON ON STEEL BILLETS.
WOOL, GRAIN, LUMBER, HIDES, HIGHER
Considerable Falling Off of Failures as Com
pared With Last Year--The Total Bank
Clearings Score an Increase of
of 35 Per Cent.

| New York, Aug. 13.--R. G. Dun and
Company's Weekly Review of Trade to-
morrow will say:
Every city reporting this week notes
| in crease in trade and nearly all bright
crop prospects. The great change in
business is emphasized by the presence
of multitude Of buyers from all parts
of the country, by their statements of
| the situation at their homes and more
forcibly yet by the heavy purchases
| they are making. But the customary
signs of prosperity are not lacking
| The strong rise in stocks, the growth
! of bank clearings and railroad earn
| ings, the heavy speculation in many
products, but most Of all in wheat, have
made the week one of supassing inter
est even to those who best remember
the upward rush in 1879. At the prin-
| cipal clearing houses throughout the
country payments in July were for the
| first time slightly larger than in 1892
and lilo per cent larger than last year;
in the first week of August IT per
cent larger than in 1892, and 2S.4 per
cent larger than last year, and in the
second week of August they were 11.9
per cent larger than in 1892 and 3S.1
per cent larger than last year.
The great crops and the haste of for
eigners to buy and ship wheat in view
of shortage elsewhere, have made the
week memorable. Taking of profits by
pool lowered the price cents on Sat
urday, but it has since risen five cents.
! Western receipts, slow in July, have in
| two weeks been 7,395,713 bushels
a
| lantic exports, flour included, have been
in the same two weeks 6,114,31 bush
els against 1884, 1913 last year. Even the
demand for corn, by greatly exceeding
that of last year, shows that foreign
anxieties are serious for 5,510, 135 bush
els have been exported in two weeks
from Atlantic ports against 2,514, 42S
last year. The price has advanced 1.12
cents, notwithstanding enormous stocks
being brought over. The urgency of
French buying of wheat, reports that
Russia will stop exports in order to
keep supplies for itself and continued
shipments from the Pacific to countries
usually having a surplus, make even the
largest estimates of probable supplies
not too great for the possible demand.
In all the great industries, a large de-
mand for products appears, with strong
speculation in materials and intermediate
products. In the iron and steel branch,
the starting of many works after settle
ment Of wages keeps prices low, and
even depresses some, but the fact that
the demand is growing, leads to heavy
purchases Of iron ore, 100000 tons at
| Cleveland in a week, and of billets 49,
600 tons, while concessions recently re-
ported in pig iron ceased. The output
of furnaces August first was 165,37S
tons against 164,O64 July first, and de-
creased in known stocks unsold indicates
a consumption for two months past
averaging 1S1, 900 tons weekly which is
more than in the same months Of 1892,
though below the greatly increased ca
pacity of works now. Sales of tin
are moderate, OF copper to American
consumers large. 1t is said at IL cents
for Lake and OF lead at 3.721A with
speculative realizing, but heavy sales
OF tin plates are bringing slightly better
prices.
| All textile industries are encouraged
| by greatly improved and really large
demand for goods, which causes many
| to advance in price. With production
much curtailed, stocks Of cotton goods
are rapidly decreasing, and in woolens
advances have been made in clay wor-
sted and mixtures, flannels and Middle
sex suitings. Speculation in wool con-
tinues, with prices about l cent higher,
but sales of 23,499,S00 pounds in two
weeks show the willingness of some
holders to realize.
Failures for the week have been $50
in the United States against 29S last
year and 200 in Canada against 36
last year.
BRADSTREET'S REVIEW.
New York, Aug. 13-Bradstreet's to-
morrow win say:
Evidences of widespread revival in
demand for merchandise and other pro-
ducts have become so numerous as to
compel general recognition. The press
has, therefore, ceased discussing whether
trade has really improved or not, and
have begun measuring the volume of bus
mess compared with preceding periods.
A buoyancy of feeling has appeared
among buyers and sellers at New York.
Baltimore, Chicago, st. Louis and Kan
sas City, where interior merchants have
thronged this week, the like of which
has not been seen for several years. In
terror merchants are buying dry goods.
clothing, shoes, groceries and fancy arti-
cles far more freely than at any time
since 1892. Crop conditions have i'm
proved at the South and Southwest and
merchants there are encouraged. South
ern lumber mills are not able to keep up
with orders and innumerable small con-
sumers Of iron and steel throughout CEN
trail western States are buying raw ma
terial as they have not for years.
!
for steel billets is more than a feature,
as it means the confidence of makers
in an early revival of the demand for
iron and steel which has been so long
delayed. Wheat scored an advance of
Sayap nap+c on continued bnorx oxy,,o-+r