The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1897-11-27
WHEAT is P,COTT0N DOWN
The Former Above The Dollar Mark, With
Immense Foreign Shipments.
COTTON AT LOW WATER MARK
Iron Industry Shows No Decline in Production or
Consumption-WOoIen and Cotton Man
utacturers Have Large Orders
on Manufactures.

New York, Nov 26-R. G. Dun Co.'S
weekly review of trade says:
The heavy exports of wheat with the
renewed advance in price is the most
interesting and Important feature of the
weeks advance. Since August, when
the extent of the foreign efficiency be-
came realized, exports have been larger
than in corresponding weeks of any pre-
vious year. Cotton exports al SO have be-
come v;ry heavy and the outgo of corn
cedented record, while in exports Of
manufactured products, especially ma
chinery all records have been surpass-
ed. While the aggregate for November
last year was over $109,000,000 for three
weeks. they hava been but slightly
Nv smaller with a fair prospect thzt the
shipments Of cotton and other products
from other ports may make up the de-
ficiency. After the slight DECLINE last
Saturday wheat rose to $1.ooB for No
vember with No. red grade and other
grades selling many cents higher. Re-
ports of what receipts are of enormous
27.072,1O4 bushels, against 9214,SSS in the
same four weeks last year, while Attain
tic exports Ciour included as wheaD,
wera for The week 3,SS0,444 bushels, and
for four weeks, 13439S39, against 49,
$50 last year. The shipments from otnsr
ports have also been heavy, ami nothing
appears to change former estimates Oh
European needs.
Cotton declined to 5.S1c, the lowest
DO mt for many years, with scarcely an
indication of speculative effort. More
has come into sight this month than IN
1894, the largest crop ever raised, While
fakings by northern spinneTs nave been
smaller in print cloths and some either
staple goods are at the lowest quota
lions ever known. In such condahons
weakness is natural, although extre me
estimates of yield are not by some en-
tirely credited.
The demand for goods from the south
Is larger since the removal of enlbargoes
and recent advances in prices have
stimulated larger transportations by
dealers, but stocks hsid by the mills are
still heavy.
The iron industry shows no decline in
production or consumption OF pig, but
with more reduced orders fen products
the excess of production is expected.
Besssmer falls a shade tol $10.15 and grey
forge to 1915 ait Pittsburg, though Chi
cago and western markets show no
change. Billets are also weaker at Pitts
burg at SIS.
Expectation of lower prices tends to
produce them at a time when new bust
ness Is naturally small. The mills are
working mostly on old orders, with
buyers impatient for deliveries. Other
large orders are held back for present
inability of the works to deliver in the
time desired.
The wooden manufacturers are still
consuming heavily in execution of part
orders and many agents are sold so far
hard that they seek no further business
while others are beginning to question
whether the demand for the next year
will suffice If prices are made to. cor
respond with present quotations of WOOL
No change has occurred in the cotton
manufacture and the market for it's
products is still irregular.
The failures for the week have been 236
in the United States against 300 last
year, and 20 in Canada against IS last
year.