The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-06-04
DUN'S TRADE REVIEW
Failures Were Smaller this
May than Last.
HEAVY GRAIN EXPORT
THE SHIPMENTS REACH A Pile
NOMENAL FIGURE.
GREAT GAIN IN IRON AND STEEL TRADE
A Tremendous Wheat Crop Predicted, Causes
Prices to Drop Cotton Manufacturing
Only Industry Showing Signs
of Shrinkage,
of Shrinkage.

New York. June 3.-R. G. Dun and
Company's Weekly Review of Trade VIII
say tomorrow:
May having been the first full month
of actual war, the fact that failures III
that month were smaller, even though
but little, than in the corresponding
month last year. and nearly 10 per cent
smaller than in May, 1896, is some
what encoura ging, the more because
year ago, the remarkable decrease in
May gave proof of the heavy movement
in business which made the year so
gratifying in general results. Large
failures were eight in manufacturing for
$23S5, 900 this year against thirteen for
S2,965, 900 last year, and in trading five
for 100000 against ten for S1,531,077
in 1897. Hesitation i'll extending usual
credits soon after war began naturally
affected weak more than strong concerns,
but it soon gave place to steady and
increasing confidence.
Wheat dropped "A cents from the high
est point after the May deal eliminated,
and has since been weaker for July be-
cause of accounts promising an enorm-
GUS yield. Those who were nearest the
truth last year now predict about 700,-
100000 bushels for 1898, and all ac-
counts make acreage much larger and
conditions much better than year ago.
But with $1.15 still paid for No. , red
i'll elevator, and a foreign demand tax
ing of 1924 49S bushels, flour included
from Atlantic ports for the week against
2,165.1S1 last year and $50. 439 from
Pacific ports against 1929 last year,
the decline evidently hastens the mar
keting of surplus, and gives the new
crop Il better chance. Exports of corn
for the week have been 1881 800 BUSH
els against 1,926.566 last year, and for
the first time III history exports of each
grain have about reached 200,000,000
bushels III the same year. OF all the
great industries, the cotton manufacturer
only gives some sign of shrinkage, cotton
having dropped a sixteenth during the
week after a rise in goods averaging
for the month about | per cent. thus
rendering the marketing of accumulated
stocks somewhat more difficult. But
print cloths have advanced and in most
staple goods the demand is improving.
Wooden mills are encouraged by a some
what larger demand for goods, in part
from government orders and averaging
| per cent better prices for goods than
a month ago. There is not much de-
iaS<'iau W HVoi; nhlNh - sun hSiu III
the main above the views of manufac-
turers, and priyes have declined an
average Of half a cent for the month.
The iron and steel manufacturer leads
all others in gain over previous years, its
consumption of pig being apparently more
than a million tons per month. or 22S.-
600 tons each week, against 170, $50 tons
per week in May, 1892, an increase of
1876 per cent. Above all others in
significance is the wholly unprecedented
demand for agricultural works, which
throw in the shade all their past or
ders. while the plate and rail manufac-
turers are beating all records, partly
with foreign orders. Failures for the
week have been ODD in the United
States against 241 last year, and 16
in Canada against % last year.