The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-12-06
CONTINUED FOREIGN DEMAND
FOR OUR FOOD PRODUCTS.
EXPORTS THIS WEEK LARGEST REPORTED
The Ocean Freigats Situation is Easier, and
the Supply Of Tonnage Shows Some
Enlargement. Anthracite
Coal Higher.

1Hc business world enters on the clos
ing month of the year with 50 many
favorable and 50 few depressing eature
III sight as to leave little doubt that the
year of 1898 as Il whole must hereafter
furnish the basis for estimates when
comparisons Of large business are to be
made. Nearly all obtainable statistics
point to the present year having heavily
exceeded any former year in the amount
Of business done. and though compari-
sons as regards prices are not SO favor
able as III earlier years. notably 1S92
amt 1890. when quotations of most sta
pies were considerably higher. still the
expansion in trade due to increased
population and enlarged foreign demand
for our products has resulted in an az
gregate volume of business done conSid-
erably III excess Of any former year.
IN the general business world the
leading event Of the week has undouht-
eddy been the placing of very large or
derS, estimated at between 5O0.O0O and
100000 tons of steel rails, more than
one quarter of the entire country's an
nual production at prices which. if not
entirely satisfactory to the competing
rail mills, are encouraging. because they
indicate that no check caused by cOmbi-
nation of interests will be administered
to our growing export trade. which bust
ness, coupled with the possible demand
next Year for structural steel for build
inc purposes, is likely to play a most
important part in the government of
prices Of steel products generally. Nom
ina nricpS of Stpnl rails NhnW htIln
change from those ruling some time ago.
but quotations for BeSSemer iron and
steel billetS. reflect the stimulating III
t1uence OF the remOva Of the uncertainty
regarding the placing of this large vol
u1ne OF rail business.
Foreign demand for our food products
has continued an encouraging feature
OF the cereal situation. and wheat prices
particularly are 4 little lower on the
week, Notwithstanding very heavy farm
ers deliveries and increasing domestic
stocks. Exports this week are the
largest ever reported. rejecting partly
Undertaking. Of early reported business
and partly increased foreign buying at
concessions earlier in the week. Corn
and oats appear to have temporarily
parted company from wheat and are
higher on the week on improved specuia-
tive buying and enlarged export trade.
The ocean freights situation is slight
~ easier and the supply of tonnage
shows ome enlargement. The prices
situation generally IS an encouraging
one, and advances Outnumber Declines.
The early arrival Of winter weather III
the South has tended to make smaller
enlarged speculative and spot purchases
cotton crop estimates more popular. and
h. va advanced 1,ricnS for thiS StoJIa
Anthracite coal has been marked up in
some markets. largely owing to cold
weather, hut there is yet 4 few new
developments in the direction Of control
of OUTPUT. Tin and copper are again
active speculatiyely, and tin plates re
fleet the formal launching Of the new
combination in slightly higher quota
tons. The boot and shoe situation has
been improved by the severe weather
largely experienced as has the outlook
for rubber goods. Leather is rteadier
and hides are higher. an unusual feature
at this time Of the year. The recent adj
vance in raw sugar appears to hay cul-
minated this week. ard a slight reaction
is shown on reports that beet sugar i'm
ports from Europe arel likely to heavily
increase. Refined is firm, November
business having been very heavy.
The advent of winter has tended to
reduce the demand for building lumber
which III some markets particularly the
East. was depressed during the summer
because Of the inactivity in building. \
rather better tone is. however. now re
ported and the opening Of the new year
is awaited with confidence. Recent
advances in prices Of pine and spruce
lumber are well maintained, stocks in
,loCI,r.' l,,.l, orn not az oil boar- mil
adyices both from the yellow pine and
cypress producing sections of the South
and the white pine markets Of the North
and Northwest are that q heavy output
has been as a rule satisfactorily hand
led. The hard wood situation main
tains al of the strength previously noted.
The domestic wood working demand is
Of good volume. while export business is
steadily increasing and prices as a whole
are considerably higher than they We're
at the opening OF the year.
The general iobbing trade has been
rather smaller at this time Of year and
severe storms III the East have hurt dis
%tribution. but the demand for holiday
goods is Of an encouraging volume and
promise well.
Business failures are of normal vol
ume. numbering PIP for the week.
against 162 last week. $50 in 1897: 800
in 1896: 313 in 1895 and 80 III 1894.
Wheat, including flour. shipments for
the week aggregate 7.4S3.959 bushels.
against 5.S24.12G bushels last week;
G.499. 900 bushels in the corresponding
week of 1897: 3.653, 100 bushels in 1895;
3.156.S2S bushels in 1890 and 5.O1l.o6o
bushels in 1891. Since July lst. tins
year. the exports Of wheat aggregate
6.19S.1 49, bushels. against l~O',9oS,o39
bushels last year.
Corn exports for the week aggregate
4,623,9SS bushels, against 3~,99o,o4o