The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-11-27
COTTON GOODS HEAVY
BUYERS WAITING FOR AN AID
VANCE IN THE STAPLE.
OVER PRODUCTION UNOERllES HEAvINESS
At Philadelphia There is Check in Demand
For Products in Leading Textile Lines and
Arrangements Are Making to Run
on Short Time.
on Short Time.

on Short Time.
| Now York. Nov. 26.-R. G. Dun and
Company's weekly review of trade will
say tomorrow:
| The heavy exports of wheat, with the
renewed advance in price is the most IN
teresting and important feature or the
weeks events. Since August, when the
extent of foreign deficiency became real
lied. exports have been larger than IN
corresponding weeks of any previous
vear. The cotton exports also have
become very .,ieavy and the outgo or
corn falls bat little below last years ull>
, precedented record, while in exports OF
manufacturing products, especially ma
,binerv. all records for the season have
been surpassed While the aggregate
for November last year was over Slo9.-
100000 shipments from New York for
three weeks have been but slightly small
err with a fair prospect that the known in
crease in cotton and other products from
other ports may make up the deficiency
Meanwhile imports are running behind
last years. at New York nearly $4,000
600 this month so that another excess OF
exnorts over imports, amounting to about
$50 600. 600 for the month is probable.
Rut this would make an excess of about
sos 100000 in four months.
After the slight decline last Saturday
wheat rose to zoos for November with
No. = red and other grades selling many
cents higher. Yet western receipts are
of enormous magnitude, in four weeks
81. Or. 104 bushels against 9,214, 1913 in
the same four weeks last year while At
lantie exports, -four included, were for
the week 3,62S. 446 bushels and for four
weeks 13,439, $50 bushels against 1871
6S5 last veAr Tho shipments from
other po-ts have also been heavy, and
nothing appears TO change former esti-
mates of European needs. Corn also con-
tinues to 90 abroad in quantities almost
as large as last year. when all past re-
cords were broken but the price haze
slightly declined.
Cotton declined to 5S1 cents. the low
est point for many years, with scarcely
any Indications of speculative effort.
More has come into sight this month
than during the same time in 1894 from
the largest crop ever raised. while TAX
ings hy Northern and Southern spinners
have been smaller and print cloths and
some other staple goods are at the lowest
quotations ever known. In such condi-
tons weakness is natural. although eX-
IRENE estimates of yield are not by some
entirely credited. The demand for goods
from the South is larger since the re-
moval of embargoes. and recent reduc-
tions in prices have stimulated larger
transactions 10y dealers. but stocks held
by the mills are still heavy With L.
69f 600 pieces print cloths on hand, a.
of 1000 million beyond consumption
600 pieces two years ago, the output
of 100000 million beyond consumption
last year has been a heavy load ever
since. The iron industry shows no de-
crease in production or consumption Of
pig but with much reduced orders for
] products excess of production is expect
! ed. and Bessemer falls shade to S10.15
| and Greyforge to 1926 at Pittsburg,
though Chiago and Eastern markets
show no change. Billets are also weak
or, at Pittsburg SIS. Expectation of
| lower prices tends to produce them at
! time when new business is naturally
| small and the mills are working mostly
! on old orders with buyers impatient
! for deliveries. Other large orders in
/ plates are held back by inability of the
| works to deliver in the time desired. In
| bars, agricultural and railway manufac-
| turing causes a heavy demand at Chi
| cago, iron being preferred to steel and
! thin sheets are also in better demand, but
/ bars are a shade lower at Pittsburg;
| also both wire and cut nails. Some
| large orders for rails by eastern railways
: are reported.
! The wooden manufacture is still con-
| Stunning heavily in execution of past or
| ders, and many agents are sold so far
) ahead that they seek no further bust
ness, while others are beginning to ques-
ton whether the demand for the next
season will suffice if prices are made
to correspond with present quotations Of
(, wool. Some reduction in prices of wool
! appears, possibly averaging half a cent,
1 with sales of Australian amounting TO
, 100000 pounds in a few large books
| at Boston, but the tone is still strong.
| No change has occurred in the cotton
! manufacture and the market for its pro-
| ducts is still irregular.
| Failures for the week have been 236
! in the United States, against 800 last
! year and % in Canada, against So last
| year.
New York, Nov. 26.-Bradstreet's to-
morrow will say:
! Notwithstanding the appearance of a
demand for holiday specialities at some
points in the South, at Chicago, st.
/ Louis, and in the region tributary there
! to, general trade throughout the coun-
! try has shown no. general improvement
I this week. Most favorable reports are
/ from the territory west of the Missis-
1 sippi river and north of Missouri and
| Kansas, where colder weather has
stimulated demand at the interior and
country merchants have been buying
with comparative freedom.
| The eastern cotton goods industry
continues depressed. Consumers evil
IDENTIFY do not intend to buy extensively
until they believe the price of raw cot
ton is ready to advance. Competition
| from Southern mills-more particularly