The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-10-30
DUN is MORE CHEERFUL
THEY REPORT IMPROVEMENTS
IN SPITE OF THESE DRAWBACKS
FOREIGN DEMAND KEEPS WHEAT HIGH
In Two Months More Colt N Has Come in Sigh
Than From Greatest Crop Ever Grown
But Recei) ITS May Drop Off Ear
ier Than Usual.
lier Than Usual.


Co.'s weekly review of trade tomorrow
will say:
The testing of retail trade is in prog
ress, but results are remarkably retard-
ed by long continued mild weather and
also by the fever in Southern districts.
Even from that quarter some large or
ders lately received show better distri-
button than was yet expected. In spite
of unseasonably worm weather, which
greatly hinders retail dealings in winter
goods at all points east of the plains,
the large number of supplementary or
ders with Urgent pressure for quick de-
liveries make It clear that the sales in
many branches have exceeded the ex-
pectation of dealers, so that replenish-
ment of stocks is not yet finished. Mean
while wholesale trade and orders 20
manufacturers have been smaller than
when the rush was greatest, but have
nevertheless been large for this stage,
even in year of general prosperity, for
the payments through the principal
clearing houses have for the week been
SO per cent. larger than in the same
week of 1892 and for the month 6.1 per
cent. Heavy engagements for outgoing
wheat, covering 100000 bushels this
week, affect monetary prospects, but
still more the produce markets for the
Atlantic exports are large already, B.,
S64 $40 bushels, -four included against
2,344, S44 for the week last year, and
in four weeks 13,904,557 against 9,S17,
05S last year. Western receipts are not
quite equal to last years for the week,
but have been 27, 969, 2SS bushels for
four weeks against 2S,756,644 last year.
The market advanced 212 with No. 2
red actually sold above 81 here, while
speculation at st. Louis is pushing prize
es yet higher. The possibility that for
eign exports may be checked is not to
be overlooked, but the heavy engage
ments besides exports for four months
past prove that foreign needs are real
and large. The corn movement was
smaller, though exports fell only 100000
bushels below last years, and the price
advanced but slightly. The fall of cot
ton to cents for spot and 5.SS for JAN
uary making the price the lowest since
March 14th, 1895, and not half cent
above the lowest for nearly half a cen
fury, is partly due to embarraSsments
caused by the fever, but also indicates
the prevailing belief that the quantity to
come forward is large. For two months
more cotton has come into sight than
from the greatest crop ever grown, IN
spite of delays caused by guarantees,
but the unfayorable conditions about
the time maturity render it less likely
than usual that the top crop will be sat
isfactory, so that receipts may drop off
earlier than usual. On the other hand it
is to be noted that extensive labor trou-
bles threaten the manufacturer in Eng
land, while the lowest price ever known
here for print cloths reflects heavy ac-
cummulated stock of other goods as
well. The increase in the production by
the mills has been over 40 per cent. in
ten years, far beyond the increase in
population and they consumed almost as
much cotton in the last crop year with
materially diminished demand fol
goods, as in the most prosperous years
heretofore.
Wool markets have become quiet In
stead of 100000 pounds reported sold
in Boston in the last week OF Septem-
Der, 100000, the next week 5000, 900,
the second week of October, and 3,000,-
600 the third week, sales have been but
2,710,000 and at three chief markets g.
231 800, making the aggregate for the
month 36,394,0O0 pounds against over
66,00OO00 pounds in September. Prices
are said to be well maintained though
TO 3 cents below former asking prices,
but occasional heavy sales indicate con-
cessions for liquidation of speculative
lots. The market for goods is not ac-
tive, as prices have been so far advanc-
ed as to hinder buying, in many cases
Intentionally, and that the future is
more clear, and the mills have ahead
ute as large contracts as they just now
desire.
The buying of iron and steel products,
though smaller than of late, continues
o keep works well engaged ahead, and
induces others to resume operations.
Both buyers and manufacturers find it
nudent to limit engagements ahead, and
the period of adjustment will make this
industry safer for some time to come.
There is great pressure for speedy de-
liveries, but in bars and wires some
abatement of demand, with slightly low
er prices for wire nails. Tin is little
weaker and copper at II cents for lake
and competition of home producers low
ers tin plates to $40. The coke output
is larger, 1858 tons weekly, but an
thracite coal is weaker, being offered
here at $405 against $4.35 named in
circulars
Failures for the week have been 30
in the United States, against go last
year and % in Canada against 40 last
year.
/ BRADSTREET' REVIEW.
New York, .-Bradstreets to-mor'
row will say:
General trade remains most Of the
features Of week ago, with continued
, check on the movement of the staple
! merchandise. At large Eastern and
central Western cities, sales of season
able goods have not equaled expecta'
| tons, and at none Of those points has
the volume of business increased. A
FChicago, st. Louis, Baltimore. and New
York and Providence, there has been
decrease in the volume OF business II
some lines, due in part to unreasonable
weather and in instances to the continu
ed quarantine Of yellow fever districts
J Some iObbers at cities which 1uppN