The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-12-04
Fewer Failures Than Same
lime Last Year.
A DECREASE IN TRADE
ALL BRANCHES SEEMED TO BE
IN A DULL SPELL
The LOWEST PRICES ON PRINTS
Wheat's Failure TO Advance Mas Disappoint
men,-- Coffee Advanced in Price Wheat
Exports Greater Than in Any Pre-
eious Year But One.

Exports oreater nan IN any TTe-
sious Year But One,
New York, Dec. 3.-R. G.. Dun &
CO. Weekly Review of Trade in its
issue tomorrow will say:
The monthly report of failures shows
defaulted liabilities of S11.610,195 in
November against S12.T00, $40 last year.
Because of three large failures for 3d.
250000, not due to present conditions,
the aggregate in November was ony ST.
100000 less than last year, and except
for those, would have been smaller than
in August, September or October. The
decrease in nearly all branches of trade
shows that payments have been remark
ably good and defaults unusually small.
Other evidences of the state of business
are convincing, except in speculative
lines. Wages have been voluntarily adj
vanced for nearly 10000 workmen in
woolens and iron. Stocks are somewhat
stronger, having advanced S1.47 for
Railways and $1.57 for Trusts. The
true value of American Railway stocks
is steadily rising with earnings which
for November thus far are 209 per cent
larger than last year and 81 per cent
in the same weeks of 1892.
1t is the season for waiting in most
industries, but at least one other fur !
mace has gone into blast, and the low !
est price of BesSemer at Pittsburg, after
purchases of 10000 tons, is S10.15 per
ton, with 1925 for grey forge. Eastern /
holders are some times impatient and |
yet sure that January will bring a large |
demand. and meanwhile the award of
ship plate contracts TO eastern firms
gives them important help, though the |
demand for bars is slow at the east and |
at Pittsburg, but is really strong at |
Chicago for agricultural and railway |
supplies. Structural orders are season
ably in allegiance but contracts for pipe /
for London, elecit sharp bidding at
Pittsburg. The voluntary advance of /
20 per cent in wages of worsted workers
at Providence, restoring the rates of
1898, is evidence of the prosperity of /
that manufacture. After much hesita-
ton in other branches, which may be
justified, this important department of
the wooden industry puts itself at the
front, virtually declaring its ability to
face any foreign competition The pur
chases of Australian wool at Boston
have again been large, 2,432 900 I
pounds out of 6,170,000 pounds of all
wool at the three chief markets, against
S,S21 800 pounds for the same week last
year. But other markets are extremely
quiet and Boston is doing the selling at
prices not named. No gain appears in
the cotton manufacture and the low
price of cotton still binders the buying
of goods. Low prices than have ever
been known are quoted for print cloths,
and also for some grades of prints, and
the average of cotton goods is remark
ably low.
The wheat market has deceived every
body, dropping in the face of an enor-
nous foreign demand just when some
advance might reasonably have been
anticipated. The western receipts,
$3.50, 425 bushels, against 2964,621 last
year for the week, and for five weeks,
33,962,5 bushels, against 20,817, 456
last year. for the same weeks, are just
now more impressive in the market than
the Atlantic exports, which have been
4.1S7, 672 bushels, -four included for the
week, against 2,019,457 last year, and
for FIVE weeks, 17,617,417 bushels,
against 9,S17, 1913 for the same weeks
last year. But in the long run the out
ward movement will affect prices, al
though the surprisingly large increase at
the west indicates considerably greater
yield than has been anticipated. So !
the enormous receipts of cotton from
plantations, exceeding those to date from
the great crop of about ten million
bales in 1894, tend to check all specula-
ton, although both foreign and domes-
tie demands for spinners have been ma
terialy restricted.
Failures for the week have been 300
in the United States, against 379 last
year, and 2S in Canada, against So last
year.
BRADSTREET'S REVIEW.
New York, Dec. 3-Bradstreets to-
morrow will say:
General trade throughout the country
has presented rather more animation, |
owing to colder weather and the APP
proaching holidays. While clothing, dry
goods, hats, shoes, notions, hardware I
and fancy groceries have been in little
better demand from both jobbers and at [
retail in the region tributary to Chicago,
st. Louis, Omaha, st. Joseph, st. Paul
and Kansasa City, the tendency of busi-
ness has been to slacken. This is no
ticeable in iron and steel and in further
depression i'll cotton goods, print cloths
having made a new low record in price.
The appearance of a better demand
for filling in purposes has had favor
able influence at points in Tennessee,
and the Gulf states. On the Pacific
coast the feature of business is the we'll
maintained export movement from near
ly all ports. The lower price for print
cloths is followed by a sharp reaction
in wheat and a lower price for Indian
corn. Oats are slightly higher and cof-
fee has advanced, in addition to which
there remains a long list of staples, prices
of which are unchanged. The dome site
grain trade continues to look with
equanimity on the unprecedentedly large
quantities of wheat exported from both
coasts week after week, the continna-
ton Of which is an evidence of an appre-
citation of the relation of supply to de-
mand by the grain trade abroad.
The total exports of wheat (lour IN
cluded as wheat from both coasts of the
United States and from Montreal tns
week aggregate 6.699,960 bushels, j.
100000 bushels larger than last week