The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-03-29
IN GOOD SHAPE, THOUGH
TIE EXPORT TRADE CONTINUES
TO BE HEAVY.
IRON AND STEEL INTENSELY ACTIVE
Falling OFF in Business faiIures--Cotton
Goods Weaker Cotton and Cereals Go
Down a Few Points -Curtaiiment
of Cotton Acreage.

New York, March pr. c.. Dun
and Company's review of trade will say
in to-norroW's issue:
y waiting state of things always him
dcrs business to some extent. With
more than SD 100000 in gold received
or on its way since this movement be
gan, with ample hank reserves and
treasury reserves and Il redemption of
notes in ali ways nearly Il third smaller
than i'll February TO cate, with no
str.ngcncy i'll the money market and
sterling exchange weak, with the vol
unle of business nj clearing houses out
side New York larger than in 1892 10y
% per cent this month. and with fail
urcs nearly 30 per cent smaller than
last year and - per cent smaller than
in the same month of 1892. there 10
not much visible ground for panic, even
if earnest efforts should fail to keep
peace with honor. War-like reports
come every day and stock operators
make the most Of them and yet the
average of prices OF railroad stocks Is
$.E3.OS against $500 two weeks ago
to-day. Nor have industrial operations
been p~crccptibly affected except where
extraordinary buying for some weeks
past has made necessary Il pause for
breath. 50 to speak. or where unnatural
prices had caused Il halt before the des-
t~ruction of the Maine.
1t is difficult to take dismal views
when the nation is surprising all records
in marketing products. Atlantic exports
Of wheat for the week have been 2,16O,-
Il bushels, against 1,212,2S6 last year.
and in four weeks 9.3O2.o14 flour in
cludcd), against o.1G3,421 last year.
with Pacific exports 4,232,O32 bushels,
against S99,242 last year. The price has
declined rs cents but the heavy Ship
ments and contracts for export are
having Il constant influence.
Corn has declined only a small frac-
ton. with exports not Il sixth lower
than Il year ago to date. Cotton has
fallen 4 sixteenth i'll spite Of large eN-.
ports, because sales of fertilizers and
other evidences indicate that c%urtail-
uuent Of acreage this year will be less
than WIS expected. Domestic exports
from New York in two weeks have been
$9,1oS.0O or 31.S per cent larger than
last year, while imports have been
scarcely larger, forcShadoWing exports
again exceeding 800. 0O0.0OO for the
month and S2i, O 900 over imports.
Sales of wool have been only ILL.,
NV IpiI'lN IL Ililtt Nttho 1T UNI JIlINt
Grief markets. against 46.6O5.3OO laSl
year, and prices are yielding, with sale>
of old wool y to l cent below current
quotations for clothing. and no indica-
ton that manufacturers are nearing the
end of their stocks.
Cotton mills at Fall River still Increase
their accumulated stocks about 1000 900
pieces and print cloths have declined to
2.6 cents. the lowest on record. Some
prints have also weakened. but ~g:ngllams
are firm and the better grades Of dress
good are sold well ahead.
Theron and steel industry is more
fully employed than cyCr before i'll its
history, and although production OF
Hcsscmcr pig IL beyond I'LL precedent,
the prices advances, and billcts are still
bought in open market by some of the
largest producers. The structural do
Inand during the first quarter was so
per cent larger than in the same quar-
ter of any previous year and it is said
the demand for pipe IS sw"lIcd by pend
Ing contracts for 126 miles.
Failures for the week have been
2J1 iii the United States, against POI
last year and y i'll Canada, against -
last year.
BEADSTREET'S REPORT.
New York, March 25.-Bradstrect's
to-InorroW Will say:
Tho favorable features Of the week in
diStributiye trade have been the report
coming, with few exceptions, from all
parts Of the West and Northwest and
married only by the check to business
and shipments caused by heavy rains
and high water in the Ohio valley. The
unsettled condition Of our relations with
Spain is credited with exercising some
effect upon immediate demands and
upon future undertakings in the east
crn portion of the country, but the two
industries. cotton ANA WOolcllS, most
complaining are those in which condi-
tions other than foreign complications
have for some time past been working
toward depression. The coarse cotton
goods situation does not improve III any
way and declines i'll print cloths to a
still lower record quotation render in
creaSingIy Imminent action by manufac-
turers toward curtailing production in
this line.
While some wooden goods mills have
already booked good orders the business
done as a whole has not been up to
authorization. Raw wool. however, does
not reflect the rather unsatisfactory con-
dition in the manufactured product in
lower quotations. The condition Of the
iron and steel trade is one which X.
cites satisfaction and almost surprise.
From a number Of widely separated sec
ton the report comes of unprecedented
activity i'll nearly all branches Of the
trade.
The price situation this week is notable
in showing decreases more numerous
than for some time past. This. Of course.
includes many lines in which specula-
tion plays Il prominent part. The pass
ing Of the cold wave. with little or no
reported damage to the growing winter
wheat. coupled with the general for
ward condition of agricultural matters
and the anticipated heavy acreage in
spring wheat. is credited with much of
the lnnrnSs:nr Influence manifested In