The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-03-05

Stories of the most reckless sort, dis
proved promptly, and many Of them be-
fore they are told, affected speculation
in stocks much last week, and at times
this week, but they have not disturbed
the industries and the trade of the coun-
try at all, There is n confidence that the
authorities are doing what is proper to
provide for public defence, and business
is moving on with the assurance that it
will not be seriously disturbed.
In grain. cotton, meat products and
petroleum. markets have been strong,
with gradual increases in the demand
for manufactured products.
Failures i'm February have been small
or than in any other month, except three
of the previous fifty two months, with
remarkable decrease in the failures for
100000 and over, though in number
and amount the smaller failures show
less change than might have been eX-
pected. indicating that in good times or
dad large proportion IS due to causes
apart from the general condition of bus;-
ness. The ratio of defaulted liabilities
to payments through clearing houses is
but Sill per $1,000, lower rate than
has appeared in the first quarter of any
year, except 1880 and 1881, of the past
twenty three years.
The best evidence of general improve
ment is the fact that payments through
clearing houses for the past week have
been $50 per cent larger than in 1892,
and outside New York, with it's specu-
lative interests 1T.6 per cent. Com
pared with last year the gain has been
56.2 per cent for the week and 49.S per
cent for February.
Production of pig iron is the greatest
ever known.
Foundry at the east is slightly lower
basic pig having been offered in a sharp
competition at about so though South
ern makers in Alabama and Tennessee.
excepting two, have agreed upon plan
of sales through a commission. The de-
mand for finished products covers work
far ahead in plates, structural forms,
sheets, pipe and rails.
The strike in cotton mills does not
spread, but helps to a slightly better
demand for some goods, while in wool
ems the business is slow in some of the
finer qualities, which have been much
advanced in price, and in these and other
grades as well cancellation have often
exceeded recorders, indicating less dis
tribution than was expected at the adj
yanced prices. Wool has yielded little
\, heat has grown stronger, exports
continuing at rate which threatens ex-
haustion of supply, if trade reports of
farmers stocks are correct. From At
lantic ports 2,426, 240 bushels went out.
-four included, against 1,36S,416 last
year and from Pacific ports S64, 1913 a.
gainst 479,959 bushels last year. The
price has risen one cent but it is posi-
bile that the estimates of last years
stocks, though 50,000,000 bushels in ex-
cess of the government estimates may
prove too small.
Corn has declined only one quarter of
cent, with exports of 4,74S.S43 bushels,
against 1921, 7S5 last year.
ailures for the week have been 231
in the United States, against 246 last
year and - in Canada, against 80 last
year.
BRADSTREET'S REVIEW.
New York, March 4.-Bradstreet's to
morrow will say;
Nearly all signs point to an unprece-
dented volume of business being done OF
arranging for at the present time. The
aggressive strength of prices, record
breaking bank clearings and continued
large exports. particularly of the lower
priced cereals. a very heavy volume of
business in iron and steel and kindred
lines, and generally satisfactory reports
as to the volume of spring trade at lead
ing diStributive centres are among the
visible features of trade development.
Nearly all Of the country'S cereal pro-
ducts are higher in prices this week as
also some varieties of provisions, Bes-
semer pig iron, copper, raw cotton and
lin. The further advance in pig iron this
week would seem to indicate that. the
immense current production is as yet
without visible effect on values. The
price of copper showed an advance of
nearly ] cent per pound during FebriI-
AIRY. while the consumptive demand and
statistical position are such as to lead
TO confidence. at least in the maintenance
of present prices, if not of further adj
vance Few decreases in prices are
noted, sugar being the most important.
while the list of staples steady and un-
changed. numbers pork. coffee. lead and
print cloths. The strength of raw cotton
has had an encoura cling effect upon
Southern trade, which is generally re.
ported better than usual at this sea
son. The export Of corn from Southern
ports is an additional favorable feaf
ure while the practical agreement Of
Southern iron producers as to prices
with generally satisfactory collections nj
most points, has impaired a decidedly
cheerful tone to advices from that see
ton. Trade is larger than usual at tho
central west. particularly in dry goods
groceries, boots and shoes. hardware
lumber. and agricultural implements. tho
demand for the latter being Il notable
feature at nearly all markets. Sprns
trade has opened up well in the north
west and the jobbing trade lis quit,
nctiye. Signs are accommodating that tho
rush of all sorts of vessels to the Pacif,