The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-09-10
THE GENERAL LEVEI
or PRICES OF STAPLES HIGH
EST FOR FIVE YEARS.
RAILROADS ARE MAKING LARGE GAINS
Failures Remain at Minimum, and Reports OF
Poor Trade are Conspicuous by Their
infrequency. Iron and Steel
Market Quiet.

New York. Sept. 9.-Bradstreet TO-
morrow will say:
Heat and holidays have impaired in
irregular appearance to speculative ana
general distributiye trade this week,
and therefore to bank clearing returns
more particularly at the East, but with
the arrival of cooler temperatures some
Improvement is reported at those mar
kets. Generally speaking, favorable
basic features already noted still con-
tinue most in evidence, and the attitude
of quiet confidence III future good trace
is undated. Conditions i'll many leading
industries, but particularly III iron anu
steel and its various products, are OF
continued and in some cases growing
strength. The general level OF prices
of staples is the highest reached for i've
years past; railway earnings, favored by
the enlarged movement of wheat to ma :
ket, are showing larger gains than
have been recently reported, good eX-
port demand for agricultural and manu-
featured products is reported, failures
remain at minimum, and reports OF
poor trade are conspicuous by their lnffe-
quency. Less favorable crop reports from
abroad and good export inquiry are re-
Elected in a rather steadier tone III wheat
and in advanced quotations for ocean
freights. Corn continue to experience a
weather market. but prospects of yield
are still regarded as favorable. Fol
lowing the intense activity in the placing
of orders for iron and steel in the past
few weeks has come a quoting IN the
demand but experiences of buyers anu
the very firm, and in some fSses. the
upward tendency of prices point TO the
conclusion that the lull is due almost
entirely to the mills being already heavi-
ly oversold. Export business has GER
tainly been checked by the inability of
American mills to deliver within time
limits set, but orders have been placed
ut the West this week for large lots IT
steel bars for shipment to England.
Unabated activity is reported at Chi
cago and dry goods shipments cannot be
made fast enough. Small but numerous
advances in prices of different classes Of
steel are reported from that city and
st. Louis. Railroads are reported buy
ing two to three months ahead of time.
Business is active at Kansas City.
Omaha, Cleveland, Louisville and
the Pacific coast San Francisco reports
merchants interested in developing trade
with Hawaii Healthful activity cX-
lists in distribution at Portland. Tacoma
and Seattle Some check to trade is re-
ported in the lower Mississippi Valley,
caused by reports of yellow fever, and
heavy rains on the South Atlantic coast
are said to have impaired cotton crop
a.te, n,,l b, hox nho ya1 fraI 10 MI
collections. but the report from the South
as whole is still good, based partly
upon last seasons immense yield and
confidence in another heavy crop this
year. Southern mills have done well dur
ing the season just closed, contrasting
sharply with Northern mills in this re-
spect. but the need of an increased for-
eign outlet for American goods is UNI
mistakable. In the East more is doing
in lumber. drugs, paints and glass at
Philadelphia. General trade is quiet ut
Baltimore. Hot weather and holidays
checked business IN dry goods at New
York. but cooler weather has brought
an improved SPOT demand Wool sales
have again fallen Of ~ Boston. cotton
goods arc quiet bat steady. and the de.
mand for rneT's wear wooden N not ~
to expectations,
Wheat shipments for the week. In
Guiding fiG1Fe aggregate y,1O0,ZDs
bushels as against 1871 go bushels last
week. J,G41 .syff3 Fyasl8eIs IN this week one
year ago, 3.7gJ,f41 bushels IN 1896, -
S10039 bushels fiji 1906 and Z.7sD, 600
bushels in 1894. Since July 1st this
year. wheat exports aggregate 2,493,-
800 bushels. as against 38,311.752 bush
els during the same period Of 1897 Corn
exports for the week aggregate 3,SG8,SG
bushels against 1861 700 bushels Last
week. 4,043,34S bushels in the CORE
spending week Of 1897, 2.2G5 44S BUSH
els in 1896. $40, 500 bushels in 1896 and
$3.50 bushels in 1894. Since July LIST,
this year, the exports Of corn aggregate
2o.407,S70 bushels compared with 30
476.757 bushels last year.
Business failures in the United States
number 142 against 1914 last week, 173
in this week year ago. 30S in 1896,
213 in 1895 and 223 in 1894.
Business failures in the Dominion Of
Canada number II against % last week.
- in this week year ago, Al in 1896
ID in 1895 and 2S in 1894.
Il