The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-05-14
DUN AND BRADSTREET
Nothing Disheartening in the
Industrial Situation.
MONEY Is NOW EASIER
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.

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 have in store for them. The only
hindrance of industry have 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 fab of print cloths to
/ ST cents. Cotton has not risen above
6.37 cents and many stories of reduced
acreage are current, as II year ago, but
they do not weigh much in view of the
actual receipts of 10,500,000 bales The
sales of wool have been only 4,UUJ,000
pounds at the three chief markets for the
two weeks, against 1880, 400 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 per cent.
The output OF pig IRON, shows practi-
cally no change excepting the increase of
$50 tons weekly in charcoal iron. Gov
,rnmcnt orders are heavy, and yet cover
but little of the consumption. though
they 30 far to cause the oyercrOwding of
ship yards and plate mills. but highe,
prices for wheat have brought enormous
demand for agricultural implements, ana
also for locomotives and cars.
Money is easier, since the policy of
contraction has ceased. and only S1,T00,
600 went to the interior during the
week. while the new loans of the chief
banks averaged 4J per cent of the totas
commercial interest, against % per cent
one week and u per cent two weeks
ago. with rates much lower than were
quite recently refused. Government is
paying gold over the counter largely, be-
cause it needs notes more than COIN and
S7.0O0.OO0 gold have been ordered during
the week. S2.500000 from Australia,
making SIS. 1868. $50 ordered, of which
about $11 100000 has yet to come.
Failures for the first week of May
have been S2,97S,9S0. against $500
1914 last year and S4,13S.271 in 1896;
| manufacturing $1,411.275, against ST.
| 949, 536 last year and trading $1,472,-
727. against 81 ,2S9,S5S last year.
Failures for the week have been 246 in
the United States, against 264 last year
and n in Canada, against 81 last year
BRADSTREET'S REVIEW.
New York. May Bradstreets to-
morrow win say:
| The business situation gains rather
| than loses in attractiyeness 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-
| .ng to make the outlook for business fol
| the current year a 1attering one. Fol-
| owing the rapid advances in prices of
| wheat which apparently eliminated for
| he time-being early III the current
| week in Il quotation for cash wheat I'm
equalled, with one single exception
| md that only for a very short period OF
| time. for % years past, there has come
| a lull and reaction from the abnOrnaIly
| 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 quietng down of interest il
| wheat there has come a partial shifting
| Of speculative interest to other grains
/ particularly corn and oats and many
classes of provisions, with advances il
nearly all those lines.
A rather more confident feeling seems
to pervade the iron trade which is refec
ted in fractional advances for leading
| makes of iron and steel. Perhaps one OF
the most encouraging features Of tn,
| week and one especially acceptable be
cause of the hitherto very depressed con
dtions prevailing is the reported Sigh
| improvement i'll inquiry and in tone II
the wool market at several centers.
The price situation is still one of grea
strength, particularly so in food pro
ducts, which are. with few exceptions
notably coffee and sugar higher on thu
week.
Wheat exports are slightly larger thar
last week. aggregating 1853, 543 bush
ais. against total last week corrected
If 1928, TO bushels, and comparing witt
| 2.1S3.000 bushels in this week yea
ago, 1.9030 900 bushels in 1896. 1887 ,00I
bushels in 1895 and 100000 bushels il
1894. Corn exports reflect the turning
Of foreign demand from high to lowe
priced grains in total of GOT 900 bush
oils. This is slightly smaller than tn
total Il week ago, but is nearly twic
tbat exported in this week last year, am
COMPARES with 1.66S,000 bushels in 1890
land / 10000 bushels in 1880
| Rusiness failures in the United State
show y slight gain for the week, mum
| bering $50, against 240 last week. y
in this week year ago, 1900 in 1896
md 21O in 1895. Failures in the Domin
ion of Canada this week number =,
against % LIST week, 81 in the week
year ago. "a in 1896 and % in 1899.
HESTER'S COTTON REPORT.
New Orleans. La. May 13.-Secretar
Testers weekly New Orleans Cotton 10
change statement shows a decrease }
he movement into sight compared wit
| the seven days ending this date las