The Roanoke times. (Roanoke, Va.) 1897-1977, 1897-05-16
CONDITION OF TRADE.
Spectators Have Enjoyed a Marked
Advance.

New York, May 15-R. G. Dun &
Co.'s Weekly Review of Trade says:
Spectators have enjoyed an advance IN
wheat, corn, cotton and some other pro.
ducts, though obliged to sell wool and
sugar at lower figures in order to realize.
Stocks have advanced seven cents per
800, and trust stocks lost IS cents with
out enough demand to constitute mar
ket. Imports of merchandise, $lS, 2S2, O19
for the week at New York alone, are 81
per cent. larger than Il year ago, making
the increase per cent. for the past
six weeks, and have affected the exchange
markets and helped further shipments of
gold, which amount for the week to g..
1901 900, but are practically balanced by
recei pts from the interior and cause no
serious apprehension of financial disturb
apces Men feel that present conditions
are. only temporary, although they tend
to prevent immediate improvements in
general trade and hinder Immediate in
vestments.
The government crop report estimates
cotton acreage at 6 per cent. less than
last year, and is considered encouraging,
because so light n decrease from floods
may easily he made up. Prices have adj
vanced an eighth on Liverpool specula.
tion, with nothing here to warrant the
rise. The winter wheat report, which is
supposed to Indicate a yield of 297, 600, 00C
bushels, is contrasted with State reports
much better or much worse, but is dis.
trusted mainly because all department
estimates of acreage for years have been
widely erroneous. Western receipts con.
tinue larger than last year, 100, 1913
bushels, against $40, 367 IL year ago, and
Atlantic exports also increased, amount.
ing for two weeks in May to 3,106. 500
bushels, flour included, against 2.0S3 Ala
last year. Exports Of corn are still large,
$3.50, $50 bushels for two weeks, against
1904, 10l last year, and in part account
for the small deamnd for wheat.
The output of pig iron for the week
ending May l was 40, 528 tons, against
1929 April 1. and stocks unsoid, exclu.
sive of those held by the great steelmak-
ing companies, increased only S,S0S, 600
tons. Several furnaces, especially those
producing foundry iron, have stopped
production for this month, but no impor-
tant changes appear i'll pig iron, which is
quoted ut 1926 for grey forge Mt Pitts
burg and 50. 5S for bessemer and only SIP
for No. at New York, though only $40. 90
is asked for Southern. Reduced Southern
freights here have not altered the market
materially, and at Chicago also the local
prices have been reduced. The demand
for finished products is below the capacity
of the works in operation, and the award
of the contract for the Montreal bridge is
said to be Mt 90 cents for beams, against
Sl.o5 demanded f,om consumers in this
country.
Nothing can be said of the cotton man
ufacture, which still lacks demand enough
to lift print cloths above the lowest point
ever known and prices of other grades of
cotton do not improve. In general sales
of cotton products are but moderate.
4 4
weeks past, and yet there is not enough
demand to- create uncertainty regarding
the future Of the market.
Failures for the week were 264 IN the
United States, against 224 last year and
81 in Canada, against 33 last year.