The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-08-28
DEMAND OVERTAKEN CAPACITY
OF IRON WORKERS.
GREAT IMPROVEMENT OVER LAST WEEK
Failures For the Week Were 223 Against 288
Last Year in United States "a in Canada
Against 80 Last Year. Almost
Everying Advancing.
Everying Advancing.

sarily prolonged strike of the soft coal
miners there is little in sight to cloud
the outlook.
The feature of the week is the advance
in prices of almost all leading staples,
beginning with an upward movement all
along the line in iron and steel. Steel
billets are now $3.50 above lowest fig
ures; bars $3.50, rods So and plates 81.
Bessemer pig iron is % cents and
foundry like amount. Southern irons
are very strong on continued active ex-
port movement. Wherever Illinois mills
have not advanced prices, they have
withdrawn quotations.
Some western steel mills are sold up
to January j, which with the demand
for earlier deliveries from furnaces than
had been arranged for, are quite signifi-
cant.
Lead. too, and softcoal are higher as
is wheat Notwithstanding one or two
reactions. Bradstreet's points out that
the statistical position of wheat IS the
strongest known since the United States
became a considerable exporter, and
that it's price, as well as that for bread,
is likely to materially exceed the weeks
advances. Following that for wheat,
prices are higher for wheat, flour, corn,
oats. lard. potatoes, butter, eggs, beans
cheese, leaf tobacco, wool and live stock.
Advances for leather, hides, lumber and
hnseed oil are also reported.
Cotton, which is up to 3-16 cents, reports
the smallest worlds stock for seven years
past ut this period. an improved tone and
higher prices for the manufactured pro-
duct. In spite of crop damages the ten
dancy Of estimates is toward the largest
total in yield recorded, but with proba-
1ilities favoring much better prices than
those obtained for the crop of 1894 an |
1895. the cut turn of which was 9,S13,
600 bales.
Advances are being also asked for re-
orders of woolen goods at mills, but
print cloths. petroleum and sugar are
unchanged for the week. while prices is
reported slightly lower than a week ago.
No sucn general or pronounced upwlr I
movement of prices of nearly all leading
staples has been witnessed whiting a
week for many years.
Wheat exports are of large volume,
aggregating wheat and -four as whcat),
5, 149,6 53 bushels for the week. rs
against 5.312.SO3 this week two years
ago. 3.420,0O0 bushels in 1894 and s.
092,0O in the corresponding weeks of
1883. With the exception of last week.
this weeks shipments are the largest
since the third week of September 1893.
Corn exports show considerable fall
ing off, being 2,682,45 bushels against
3,92S,O35 bushels last week, 100000
bushels year ago, 1,124,532 bushels in
1895. 10000 bushels in 1894 and l.
10000 bushels in 1893.
There are 210 business failures re-
ported throughout the United States this
week, against 221 last week. 800 a year
ago and 100 two years ago. 1872 three
years ago and 800 in the like week in
1893.
r. G. DUN & co.
New York, Aug. Or. G.. Dun and
Company in their weekly review of trade
tomorrow will say:
Speculative markets have their turns
Of reaction, but business has none this
season, gaining with steadiness which
is most gratifying. The starting of
works, increase in hands employed, ad-
vance in wages and in prices of products
and the heavy movement of crops are
facts before which all speculative infu-
ences have to bow. The weeks des-
patches mention six sixteen iron works
which have started against one closing
fifteen wooden works started and so in
many other branches, while many more
works have increased force and many
are preparing to resume, and some have
increased wages. While these things
continue-with grain rising, and going
lah in,
markets have reason for Astounding con-
fdence and speculative markets for
strength. Crop prospects are contradic-
tory, as usual at such a time, but it is
noteworthy that none of them indicate
anything less than ample supply of the
great staples.
Wheat rose over six cents Saturday
with exaggerated reports of injury, fell
nearly cents, advanced 4 cents and
then declined sharply, closing 1 cent low
err for the week. That some harm yas
done to spring wheat in three States
appears, but no accounts entitled to re-
spect indicate damage reducing the Yield
below 540,000,000 bushels, which would
be 25,000,000 larger than any other crop
except that Of 1891, In spite Of great
lack Of cars wheat receipts were 4,349,-
594 bushels for the week, and for four
weeks, 15,5S9,6S1 bushels, against A.
1864 last year, and Atlantic reports,
-four included, though somewhat check
ed by higher prices were 3,56S,369 for
the week, against 2,2O7, SIG last year and
for four weeks 1884, S7 bushels, a.
gainst 7,310,177 last year. Receipts of
corn bear strong testimony to the seri-
BUSINESS Of foreign needs, being 6,S40, IA
bushels for the week against 2,S13,919
last year, and Atlantic exports in four
weeks have been 10,466,47S bushels, a.
gainst 5,617,110 last year. The price
rose 11A cents for the week.
Sympathy with other markets rather
than reports of injury which capable au-
thorities deem not important, accounts
for the advance of three sixteenths in
cotton. But the mills are resuming work
"a iro hoo