The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-08-23
Bradst[ect'S Review,
Advances in Iron a Feature
of the Week.
CEREALS ARE STEADY
FINE COTTON PROSPECTS DE
PRESS PRICE OF THE STAPLE.
FAILURES LARGER THAN LAST WEEK
Buyers Appear in Increasing Numbers in the
Western Markets--South Atlantic Cities
Report Improvement in Trade--Wheat
and Corn Shipments Smaller.

anu COrn SllpWentS SIndiieT.
New York, Auguts 19.-Bradstreet's
tomorrow will say:
Perhaps the most interesting feature
Of the general business situation at
present is the air Of confidence with
which the mercantile community awaits
the approach of the fall trade period.
While. Of course, based III some degree
upon favorable results already achieved
in many lines, it is unquestionably true
that the Gathering crop outlook at home
and the return Of peace, With the ex-
pectation Of benefits to our export trade
naturally expected to accrue therefro1r.
make for much Of the feeling thus eX-
pressed. Reflection Of the growth Of fall
trade is found in the steady expansion
now going OH in bank clearingS. the I'M
proving demand ut higher prices for
most makes Of iron and steel, the gen
orally favorable railway earnings which,
in default Of 4 large movement OF
crops to market. point to Il large return
trade IN manufactured gods TO the agri-
cultural sections, and the reports of con-
tinucd activity i'll diStrlbutlvc trade
West and South. with signs of a moder-
ate increase III interest at leading East
crn markets. which hitherto have not
shared largely in the trade Improvement.
The immense business doing in iron ana
steel products. ut advanced prices, calls
attention to the proportionately less nota-
bic expansion Of crude iron production.
Pig iron statistics. in fact. point to ali
even smaller output for the current
month. some Of which curtailment, of
course, is naturally based upon mid-Sum-
mer conditions. Advance in many grades
Of iron, notably BeSsemer ana Southern
pig.are features of the week.
The situation i'm cereals shows but little
change. The balance established be
tween ~phcnomenally reduced visible sup
plies. Nctivc milling demand at home,
and fair export inquiry on the one hand
and the very promising crop outlook
on the other, tends to steadiness in
prices. and other cereals sympathize
with wheat. Large supplies Of raw
cotton at home and abroad. and the
prediction Of Il yield this year nearly
equal to if not exceeding that grown ii
year ago, while naturally stimulating to
business at the South, has Il depressing
effect upon the price of the raw staple.
and quotations are 4 fraction lower for
the week and two cents 4 pound lower
than Il year ago this time. Reports
as to collections the country over are
very encouraging. From winter wheat
sections especially reports are very good.
So'ue sloWness is noted in payments 1T
the Northwest. but this is expected to
disappear when the spring wheat crop
moves.
Business failures are larger in number
than last week. a~ggregating 100. against
Ia last week, but compared With 221 in
this week 4 year ago. 264 in 1896, 10:
in 1899 and 2o1 in 1894.
Rnyorc NJ o,,po,pinr in inoroo;nor
numbers at leading Western markets..
Bad roads still restrict business at
New Orleans, but a large fall business is
expected. At Memphis the outlook is
for the heaviest business in the history
Of the city. but damage by cotton worms
in Texas affects trade at Galveston. In
the South atlantic cities reports are of Il
perceptible Improvement in trade. On
the Pacific coast. while business is quiet
in California. large crops in Oregon and
Washington are expected to make fall
trade lively.
At the East more is doing at Balti-
more. Southern buyers are Increasing in
number. and stocks are reported heavily
reduced. Business is active at Pittsburg,
iron and steel being especially so. Al
Boston and New York moderate i'm
provcmcnt is noted. The depressed CON
dition Of the raw staple tends to dis
courage future business in cotton goods,
but print cloths are firm. and there is
less talk of curtailing production at Fall
River. In wool and wooden goods bust
ness is only moderate. and manufacture
crS buy for present requirements.
Wheat and corn shipments are smaller
than those of last week. but are still
ahead Of last season. Wheat shipments
Tor the week. including flour. aggregate
i.1Ho.?3S bushels. as against 3.S2S.SOf
bushels corrected last week. and COM
pared with 5.31i,S03 bushels in this week
last year. 2991 .G93 bushels in the cor
responding week of 1896. 2.3S9.1 40 bush
els in 1898 and 3.1S2. 100 bushels in S94
Since July 1st this year the exports of
wheat aggregate 21.91O.GG6 bushels.
against 21,432.346 bushels last year.
Corn exports for the week aggregate s.
19G.O21 bushels, against Sol I. 1852 bush
els last week, 3.929.O35 bushels in 1897.
2.1G9.GO1 in 1896, 1.191.23S bushels in
1898 and 1O3,O o bushels in 1894. Since
July 1st this year tn prcetoXs shrdIu ST
July 1St this year the exports of corn
aggregate 20.22S.363 bushels. against
19.GS5.S93 bushels during the same pc
Rod last year.
business failures in the Dominion Of
Canada this week number 90 against 33
last week. II in this week Il wear ago.
80 in 1896 and Is in 1894 and 80 IN
1895.
WEEKLY BANK CLEARINGS.
New York. nag 19-The total bank
clearings in the United States for the
week were $1.213. 1O6. 331: per cent. in
crease. 11.G. Exclusive Of New York.
S41O.o13.1 10: per cent. increase 70.
VISIBLE COTTON SUPPLY.
New Orleans. La. August 10
Secretary Testers statement of the
worlds visible supply of cotton shows
4 decrease during the week just closed
Of 1926 bales. against a decrease Of
61.oG5 last year and Il decrease of 112,-
Io1 in 1898.