The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-12-10
MESSAGE OF NO EFFECT
NOR DID MEETING OF CONGRESS
PRODUCE FRIGHT.
LOOKING FOR STILL BITTER BUSINESS
Cotton has Risen Three Sixteenths in Price.
The Demand for Print Goods Raised
Prices. Heavy Bus ness in
Iron and Steel.

tomorrow:
The most significant thing this week
has been the entire absence of the Gus
tomary nervous fright before and after
the meeting of Congress, the Presidents
message and the Treasurcr's report. No
one showed the least alarm and no.
body could find occasion for any. Money
and stock and grain markets moved on
exactly as if the Government were au-
tomato, certain to do or say no more
than the people had already decided, and
expected. and so the gradual betterment
since October continues. There is a
larger demand for produce in nearly all
the great industries, larger export de-
mand for foreign needs, Il more healthy
domestic demand since seasonable wealth
er arrived and comforting conviction
that November business, the biggest
ever done in this country in any month.
was but step towards something bet
ter.
Exports last year in December We're
marvellous. but this year are starting
ahead. The Atlantic wheat exports,
-four included. have been for the week
$500. 157 bushels, against 4,312,137 bush
els last year, and Pacific exports 536,-
523 bushels. against 973.0S3 bushels last
year and prices have declined 2A cent
For cash, but Western receipts of TO-
135.1S9 bushels, against 6213,471 bush
els from last years great, crop stops ar
guiment. The wheat does not come out
at low prices if the people have less to
sell than last year at 20 cent more per
bushel. SO the corn exports were f..
151. 9S1 bushels. against 3.313,0S6 bush
els last year, and such a foreign de-
mand at prices much higher than last
year. and with wheat cheaper, is proof
OF state of things abroad which Ameri-
cans hardly appreciate. The price de-
clined only n cent with enormous re-
ceipts.
Cotton shared in the export movement
fully and nevertheless has risen Bloc.
in price with feeling that estimates
of yield may have been excessive At
the extremely low price yet quoted for
eign buyers do not stop to calculate COM
lnercial and mill stocks on hand. The
consumption in this country is not very
large, being but little changed by
troubles about wages at the South.
though by more voluntary curtailment
in New England but the demand for
goods is better and has lifted the price
Dl Dr1llt clOlIS ILL elSiitil siiHis VI sothC
other goods n shade.
Wooden goods have been in much bet
ter demand and many of the smaller
mills have been buying after concessions
secured by the larger The much broad
or market is more healthy and promises
far more for the industry. and sales of
10.655,200 pounds in two weeks past at
the three chief markets. against TO-
10. ~, fha of
1892, are quite in line with demand in
prosperous years. Prices yielded about
half cent in November, according to
100 quotations by Coates Brothers, and
from Philadelphia, dispatches appear to
be about cent lower this week
The rupture of the Inchoate rail COM
bination, it appears, resulted in lower
prices and larger sales in the first week
of sharp competition than were realized
a week ago. Prices We're made in some
transactions much lower than were then
or now quoted, and while SIT at Pitts
burg is now named, special orders are
said to command lower figures. The
purchase of 10000 tons Of Bessemer
pig at SO. at Valley Furnaces and
100000 tons billets for Pittsburg works.
ut $3.50. of which 10000 tons went to
IL
at 500, and $4,000 tons plates for one
concern at Pittsburg, besides enormous
orders for bars and plates in car and
ship building, and a steamship contract
on the Delaware, and contract for
5000 tons for bridges at Chicago, give
some idea of the heavy business coming
forward, just when the works usually
EXPECT season of idleness and waiting.
Pig iron has risen at the East to S11.50,
and quotations average for pig through
out the country a shade higher than at
any time this year. though prices for
finished products have recently been
declining, and are lower than in the
early months of the year.
This weeks failures have been 24S
in the United States, against 312 last
year, and % in Canada, against 20 last
year.
HESTER'S COTTON STATEMENT
New Orleans Dee. 9.-Secretary Hes
tcr's statement of the worlds visible
cotton shows an increase for the week
Just closed of 109,37S bales, againsr an
increase of 1890 last year and lG3.l ~
bales in 1894. The total visible is I0o,-
4S3 against 100000 bales last week
and 3,S56,209 last year. OF this the
total of American cotton is 4,fob. f.bo
against 4,4S2,060 last week, 3,3oS, 2oJ
last year and of all other kinds including
Egypt Brazil, India, etc. $4,000
against $4,000 last week and 2ls,Wo
last year.
Hester's New Orleans Cotton Ex-
change statement shows an increased
movement in sight compared with the
seven days ending this date last year in
...,.,,1 Go,,yoe ~ r1 OC0 ho los an ircrao so
over the same days year before asst of
$4,000 bales For the 100 days OF, the
seasons that have elapsed the aggregate
is ahead of the 100 lays of last year
81 900 bales. and ah"1d Of same days
year before last of 100000 bales. The
amount brought into sight during the
nasf week has been sol, 163 bales against
44S.924 bales for the seven days ending
this date last year. The total movement
for the 100 days from September 1st to