The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-04-23
RAILWAY EARNINGS GOOD
BIT STOCKS DECLINE OWING TO
LACK OF NERVE.
HEAVY DEMAND FOR IRON CONTINUES
The Foreign Demand for Wheat is Extremely
Heavy-.Corn Exports are also Great
Failures in United States
for Week 2O4.

New / OK, AllfIl ~ " A"'i
Co.'S weekly review of trade will say
tomorrow:
The war is no longer to be avoided
and business is somewhat contracted by
bankers apprehensions. There is no cN-
cusc cxccDt for want of nerve, for de-
cline in railway stocks when earnings
have been 1913 per cent. larger than
last year for the first half of April. ana
As per cent larger than 1897, with ran
way tonnage eastbound from Chicago
about 10 per cent. larger than in lS'2.
Neither are Clearing House transactions
gloomy. The weeks payments were
$50 per cent larger than last year ana
63 per cent. larger than in 1872.
In no aspect can the wheat market be
| considered without finding just occasion
for material advance in prices, when
has been 725 per cent. for the week.
The exports from Atlantic coast ports
have been 3.104,3 bushels, flour in
Guided. against ], 190,392 last year, and
from Pacific coast points 43J,6S6 bush
els, against 63, go last year, making for
the three weeks Of April $3.50, 492 bush
els from Atlantic ports. against Boss
10 bushels last year, and from Pacific
ports 2.529 ,62S bushels, against 112,SIl
for the same weeks last year. The eN-
ports of corn during the same three
weeks have been 11,340, 1873 bushels,
against 10.221. 161 bushels last year,
which is strong evidence that the de-
mand for wheat is in no sense fictitious.
The enormous iron production does
not diminish, and the demand for finish
ed products is heavy.
No decrease in prices appear, and the
production continues practically UNI
changed at the highest pont ever known
although in eastern markets the output
is considered somewhat in excess of the
supply. Copper is stronger, with de-
mand for consumption
In woolens the heavy cancellations re-
Gently reported prove to be in large
measure requests for deferred deliveries,
but n better demand has been seen dur
ing the past week. in some quarters on
account of large government orders. In
cotton goods the resumption of work by
several large mills has increased the out
put. and the demand does not appeir
to have diminished.
Failures for the week have been 20a
in the United States. against 21S last
year, and % in Canada, against u last
year.
BRADSTREET'S REPORT.
New York, April -Bradstreet's to-
morrow will say:
General trade and speculation this
week have exhibited most of the char
acteristics which have become popularity
associated with the near approach Of
hostilities. While there is reported a
further quieting of distributiye trade IN
some lines Mt the East and South, trace
able almost directly to anticipated war
like conditions, there is a lack Of regu-
larity even in the reports from those
centers which serve to show that now
that the uncertainty so long prevailing
has been dispelled trade conditions are
being shaped to the new order of things.
There is consequently greatly increased
activity in many special lines ut the
seaboard, accompanied by excited mar
kets and heavy price advances. While
trade in the interior sympathizes to q
certain extent with this price movement.
there is still perceptibly good trade re-
ported entirely outside of this which
serves to prove that the prospect of war
has not had nearly as much effect in
land as it has had on the coast.
In commercial lines this week much in
terest and activity has been manifested
in the speculative and actual demand for
leading staples, such as wheat, corn,
oats, flour, coffee, sugar, most pork pro-
ducts and cotton. A reflection of this
active demand which had its rise, so far
as wheat and cotton are concerned.
among foreign buyers who wish to anti
cipate any possible interruption of sup
plies. is found in the movement of prices, |
which for the first time for many weeks
past, shows n general upward tendency.
The advances in coffee, sugar and rice
are directly traceable to war Influences.
marking as they do either a desire or
the part of domestic buyers to protect
themselves against any possible Interrupt
ton of supplies or the anticipated leyying
Of taxation to meet the increased ex-
penses Of the government. Careful
search among the quotations for staple
products fails to reveal any important
decline III prices outside of a fractional
marking down of steel billets at some
markets.
The check to export trade at some
ports, notably at the South, is reflected |
in temporarily smaller shipments of |
wheat, corn and flour. The total ship |
mcnts of wheat flour included as wheat) |
this week, aggregate 1923, LOG bushels, |
against 4,J25,302 bushels last week. i > |
654,6 6S bushels in this week year ago |
l. S6,0 bushels in 1896, 2,431 900 bush |
els in 1895 and 2.727, 900 bushels in 1894 |
Corn exports this week aggregate s. i
100000 bushels, against 1866, 900 bush |
els last week. 100000 bushels in this
week last year, and 9S1 900 bushels in
1896.
There were 224 business failures in
the United States this week, against 215
last week. 216 in this week year ago, |
240 in 1896, and 223 in 1898.
Business failures in the Dominion OF |
Canada for the week number IL. against
- last week. - in this week a year |
ago, 81 in 1896 and 81 in 1895.
TOTAL BANK CLEARINGS.
New York, April 22.-The total bank |
clearings in the United States for the |
week were $1,113094, 1856; per cent in |
crease lo.4. Exclusive of New York |
S416,O24,40 per cent. increase 1872. !