The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-29
LINES MORE ACTIVE
ADVANCES AND IN
CREASED BANK CLEARINGS.
CONSIDERABLE DROP IN FAILURES
Large Exports Of Cereals, Specially Wheat,
Corn and Flour and PerciptabIe Con-
fidence in Nearly All Branches
For Spring Business.

New York, Jan. 2S.--Bradstreets to-
morrow will say: Favorable conditions
in the trade situation continue to far
outweigh those of an opposite char
acter. Stormy weather throughout a
large section of this country this week
has checked the movement of merchan-
disc into consumption, but perceptible
increase in the demand for seasonable
goods is reported as already resulting.
The last week of the month closes with
increased activity i'll many lines, a num-
Der of price advances, heavily increased
bank clearing as compared with one
year ago at nearly all cities, another con-
siderable drop in the number of failures
reported, large exports of cereals, parti-
cularly wheat, corn and flour, and per-
ceptible confidence in nearly all branches
of trade as regards the outlook for
spring business. Another favorable
feature of the week is the slight but
distinct improvement in the cotton
goods situation, in which speculative ac-
tiyity is awakening. Print cloths are
higher and some makes of gray and
medium weight cottons are more firm
~ held. Pig iron is rejecting the effect
of the present unprecedented production,
and further weakening in prices is
recorded at eastern points. At the
West, however, consumption of pig
and of the finished products of iron and
steel is reported increasing so as to
hold prices firm. Large sales of bar
steel and rails are reported at Chica-
90 and st. Louis, with mills refusing to
take orders for delivery earlier than
late Summer Boots and shoes hold the
late advance, and manufacturers of
heavy weights will not take orders for
fall delivery at present prices. Wool is
strong on large sales and firm prices
abroad. Prices of most staple products
are higher on the week; noticeable in
stances are those of wheat, which is
past the dollar mark again at many
Western markets. The active demand
for the Klondike trade is reflected in
canned goods, stocks of which are re-
the late advance.
Collections are generally reported fair,
those indicating backwardness coming
most generally from the South.
Cereal exports are again heavy, total
shipments Of wheat, including -four,
for the week amounting to 5,110,624
bushels. against 3.926,000 bushels last
week; 2,515,000 in this week year ago;
2,J50,000 bushels in 1896, and 2,0S3, 900
bushels in 1894. Corn exports hayd
also heavily increased from last week,
amounting TO 1862, 900 bushels, against
3.4S6,000 bushels last week; 3,O11, 900
bushels last year: 3,197.O bushels in
1896, and $4,000 bushels in 1895.
Business failures for the week are
the smallest reported in the fourth week
of January for FIVE years past, number
ing only 2SS, against 800 last week; 326
in the corresponding week of last year,
393 in 1896; 312 in 1895, and $40 in
1894. OF the failures reported, 81 per
cent. were Of concerns having FIVE thou
sand dollars capital or less, and 90 per
cent. in all were of concerns having less
than $4,000 capital.
Business failures in Canada this
week number As, against 46 last week,
% in this week year ago and G3 in the
corresponding week Of 1896.
Dun AND COMPANYfS REVIEW.
New York. Jan. OR. G. Dun and
Company's weekly review of trade to-
morrow will say:
The first month Of the new year has
brought rather more increase in bust
ness, but less improvement in prices than
was expected. With payments through
clearing houses 7.3 per cent larger than
in 1892, and probably the largest ever
known in any month, with railroad earn
ings 11.2 per cent larger than the best
of past years, the fact that prices are
very low only shows more clearly the
increase in quantities of products sold
Nor is there any disposition to refuse or
ders, even at present prices; indeed the
competition OF manufacturers seeking
orders alone prevents rise. Most of
them have all they can manage, many
working night and day and one great
steel concern running on Sunday, but
the works not yet filed with orders are
seeking contracts at as low prices as
have ever been made, indicating that
even these are not entirely unprofitabie
The settlement of wages on ten per
advance April / for 100000 coal miners
of the central region, with other changes,
will tend toward larger demand for
products of all kinds though also toward
some increase in cost of manufacture.
Wheat has been conspicuous, rising
five cents for the week with Us cents for
May options. Western receipts have
been 10,009,053 bushels in four weeks
against 6,045,712 last year. but Allan
tic exports have been 12.003S2S bushels
in four weeks against I. 103,G74 last year.
and Pacific exports without Tacoma for
the week 4,015,5S3 bushels against, g.
1896 last year. SO heavy an outgo
with wheat over 81 per bushels, and
with corn exports for the four weeks
eqltaling the extraordinary movement
of last year, disclOses the strength Of
foreign demand even better than cur
rent accounts Of disappointing shipments
from Argentina and poor prospects in
Russia. Cotton has risen sixteenth,
Notwithstanding the strikes in eastern
mills and the official report of decrease
of 1913 per cent in British exports of cot
ton goods last year. Receipts still run
so far beyond those following the larg-
est crop on record that estimates once
deemed extrayagant are commonly ac.
copied.
The cotton manufacture is in more