The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-05-22
Altogether There is a Somewhat
Better Tone.
MORE COMMERCIAL LOANS
HAVE NOT BEEN so LARGE FOR
A LONG TIME.
some INDUSTRIAL DISTURBANCE
Notably in Clothing, Mining, iron and
Steel .Makers of Cotton Goods at
Disadvantage Gold Ex.
ports Not Serious.

ports Not Serious.
New York, May 21.-R. G. Dunn &
Co.'S weekly review Of trade tomorrow
will say
Unmistakable evidence of improvement
comes in the general increase of COM
mercial loans, mostly for eastern mer-
chants or companies though some well
known houses in the middle west appear
with considerable re-discounts from the
south. Il
Not for Il long time have commercial
loans been fully half the whole The dis
tinct change gives proof that new busi-
ness has been larger than many have
supposed. Receipts of money from the
interior exceed shipments $1,5OO,OOO,
mostly from the middle west. Exports
Of gold have no influence and only
signify the willingness of Russia to pay
pTice for the gold needed. The excess
of merchandise imports to answer in the
most for half year to come involves n
greater excess of exports when the an
ticipatory movement ends and crops be-
gin to move, which fact renders large
Outgoes of gold less likely, and gives the
country a stronger position in interna-
tiOnal markets. Meanwhile there is a
continuing increase, distinct though grad
ual, in the volume of business in demand
for products of manufacture and consid-
ering the time of the year in movement
oof grain and produce.
Western wheat receipts exceed last
years for the week 2,3S4, 1S9 bushels,
against 1,73S,9S6, and Atlantic exports
were 1,61O,S13 bushels, -four included,
against 1,3O2,4S1 last year and for three
weeks 4.77S.722 against 1866, $40 for the
same period last year. Western receipts
of corn We're 1865. 5.677 bushels, against l.
95.67O and Atlantic exports 2,1SS, ,S25,
against 1,6OS, I4S last year. notwith
standing the enormous increase hitherto.
Wheat again cheated hopeful buyers and
fell nearly cents. closing 31a lower for
the week Corn was shade weaker. Cot
ton once more hopefully advanced to rs
cents, but fell back to "a. with poor
support here and abroad. Both the vol
ume of stocks and the condition of do
mestic and foreign markets for goods
are better.
The iron industry has quite an increase
in new business, though not in all branch
es. Part was due to the ruptures of the
steel beam pool and the fall in price
from S1.55 to $1.25 nominally quoted,
and some good structural contracts were
at once secured. Part is due to a better
demand for plates and for pipe, of which
one large contract for Indiana fields was
placed, and part to growing needs for
ears and vessels. There is also some in
crease in rods. though the season for
wire and nails is nearing an end, be-
cause of an expected pool of rod mills.
Low southern freight rates marketed a
little more iron at the north and eastern
foundry is slightly lower with grey forge
only $S.-J at Pittsburg. The Carnegie
works are now turning out 5000 tons of
rails daily, nearly all on old orders, and
exports of finished products increase.
Sales of copper, said to be nearly 6O,OOO,-
600 pounds, have stiffened the price to
11h for lake, and tin rose to 1872 cents in
spite of large arrivals, though lead was
weaker at 3.25 cents and tin plates at
$50. Coke is also a shade lower. Sales
of wool decrease, though still greater than
when all the mills were busy, but manu-
facturers are doing scarcely anything,
most of their possible demand for months
ahead having been supplied. Western
holders begin to offer at l to ~ cents
lower than of late. Woolen goods are dull
but prices are firm. The strike of cloth
ing hands here somewhat restricts the
new demand. Cotton goods are without
change in prices, print cloths still ut the
lowest on record and the demand is still
Indifferent with talk of temporary closing
of mills at the south.
Failures for the week have been 24S
in the United States, against 227 last
year. and 81 in Canada. against 2S last
year
BRADSTREETS REVIEW.
New York, May 21.-Bradstreets to-
morrow will say:
The slight improvement in trade is
in the tendency of business to increase ut
a few cities in the Northwest, on the
Pacific coast and in South Atlantic and
Gulf States. There is increased buying
ut Baltimore, Atlanta, Birmingham and
New Orleans, where trade has revived
on the announcement that the Northern
Louisiana, Mississippi and Arkansas
flooded districts are being placed under
cultivation, and that the damage done
is less than expected. There are in
creased sales at Milwaukee, Omaha, Chi
cago and st. Louis, and exports of gen.
eral merchandise and lumber from San
Francisco have increased.
Advices from California are that lack
of seasonable rains and long continued
dry winds have injured the wheat and
fruit crops. Larger Eastern centres re-
port the movement of merchandise slow
and trade dull. The season is so far ad |
vanced that no general gain is looked |