The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-05-17
Is NOW EASIER
FAILURES ARE LESS THAN IN
SAME WEEK LAST YEAR.
BUSINESS OUTLOOK A FlATTERING ONE
Wheat Exports are Slightly Larger than Last
Week--The Price Situation Still One
of Great Strength Iron Trade
More Confident.

Company's weekly review Of trade to-
morrow will say:
Hostilities have lasted long enough to
kill many pessimistic predictions of
Americans. The only panic was
when money lenders were wondering
what deadly impossibilities the unknown
might nave in store for them. The only
hindrance Of industry rave been due to
waiting Of buyers who looked for. lower
prices.
Nothing disheartening can be seen in
the industrial situation except the clos
ing Of some cotton mills, owing to over
production. and the fall of print cloths to
1.S1 cents. Cotton has not risen above
G.31 cents and many stories of reduced
acreage are current, as Il year ago, but
they do not weigh much IN view of the
actual receipts of 1O.3OO,0OO bales. The
sales of wool have been only 1905, 900
pounds at the three chief markets for the
two weeks, against 14.33O.4 0 last year,
but prices are somewhat more firm,
| and there is more demand for goods
| apart from the large government orders.
The demand for boots and shoes having
passed all records in recent months has
abated. and yet many orders are coming
forward. Leather is rising. with no ac-
tive demand, and hides at Chicago have
advanced about 4 per cent.
The output OF PIG IRON. shows practi-
cally no change excepting the increase Of
so tons weekly in charcoal iron. Gov
eminent orders are heavy. and yet cover
but little of the consumption. though
they go far to cause the overcrowding of
ship yards and plate mills, but highes
prices for wheat have brought enormous
GaOO1n1 for - pria1ltl,n n,,la,,apts and
also for locomotives and cars.
Money is easier. since the policy of
contraction has ceased. and only 81, co.
600 went to the interior during the.
week. While the new loans Of the chief
banks averaged 10 per cent of the total
commercial interest. against % per cent
one week and - per cent two weeks
ago. With rates much lower than We're
quite recently refused. Government is
paying gold over the counter largely, be-
cause it needs notes more than coin. ana
$1,000. OG0 gold have been ordered during
the week. S2.5OO.OOO from Australia,
making S7S,:3f3,35O ordered. OF which
about S11 100000 has vet to come.
Failures for the first week of May
have been S2.91S. $50. against So. 800.
S94 last year and S4.13S.271 in 1896;
manufacturing S1.411,275, against ST.
949.536 last year and trading $1,472,-
81. against $1,2S9.S5S last year.
Failures for the week have been 246 in
the United States. against 264 last year.
and n i'll Canada, against 81 last year.
BRADSTREET'S REVIEW.
New York. May 13.-Bradstreet's to-
morrow will say:
The business situation gains rather
than loses in attractivencSs as the spring
season advances. While. Of course. the
very favorable situation in cereals is
still the handspring of the Improvement
manifesting itself in many sections of the
country, there are other causes combin-
ing to make the outlook for business for
the current year Il tlattering one. Fol
lowing the rapid advances in prices of
wheat which apparently eliminated for
the time-being early i'll the current
week III Il quotation for cash wheat un-i
caualled. with one single exception.
and that only for 4 very short period Of
time. for p years past, there has come
Il lull and Il reaction from the abnOrmally
high prices, caused by the squeeze in
May delivery which. however, has left
prices far above quotations for at least
ten years back.
With the q%uieting down of interest il,
wheat there has come Il partial shifting
of speculative interest to other grains,
particularly corn and oats and many
classes of provisions, with advances in
nearly all those lines.
a rather more confident feeling seems
to pervade the iron trade which is retiec-
ted in fractional advances for. leading
makes of iron and steel. Perhaps one OF
the moSi cncOurag ing features Of the
week. and one especially acceptable be-
cause of the hitherto very depressed con-
ditions prevailing is the reported slight
Improvement III inquiry and in tone IN
the wool market at several centers.
The price situation is still one Of great
strength, particularly so in food pro-
ducts. which are. with few exceptions.
notably coffee and sugar higher on the
week.
Wheat exports are slightly larger than
last week, aggregating 3,6S2.543 bush
els, against Il total last week corrected.
of 2.923.775 bushels. and comparing with
2,1S3.OOO bushels in this week i year
ago. 10000 bushels in 1896. 2.397,0OO
bushels in 8 9 and 2,42O, 600 bushels Ill
1891. Corn exports reflect the turning
Of foreign demand from high to lower
priced grains in 4 total of 6.O77.O 900 bush
els. This is slightly smaller than the
total a week ago. but is nearly twice
that exported in this week last year. ana
compares with 1.66S.O o bushels in 1896,
and 100000 bushels in 1895.
Business failures in the United States
show n slight gain for the week. num-
bering $50, against 24O last week, 2o1
in this week Il year ago. 1900 in 1896,
and 21O in 1895. Failures in the Domin-
ion Of Canada this week number %.
against = lst week. 81 in the week a
year ago. 81 in 1896 and % in S 9
An Easy ~Victory-"Ah," the fond
mother sighed, you say you love my
daughter now. but will you love her
when she is old?'
Steadily looking her in the eyes, he
replied: "She will never get old. Any
one can see at Il glance that she takes !!
after you.'-Chicago News.