The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-08-27
AS FOR TRADE IN EAST
IT is GENERALLY ARRESTED OR
SMALLER THAN EXPECTED
LOW PRICES FOR soUTH'S GREAT STAPLE
Also Low Quotations and Apparently Less Ac-
tive Demand from Abroad for Our &C.
reals The ron and Steel
Trade Strong.

New York. August -Bradstreets
tomorrow will say:
Business conditions in the main reflect
the continuance of most of the favorable
features hitherto dominating the trade
situation in the more favored sections
of the country Prominent in this direC-
ton, of course are the iron and steel
and allied industries. in which active
demand, present or prospective, has led
to further price advances, sustained and
even increased activity in distribution
at most Western markets, with some
Improvement likewise noted at the South
and on the Pacific coast, steadiness in
prices-wheat, corn and cotton, however,
excepted reduced number of business
failures, fair gains in railroad earnings,
as a whole, and bank clearings, in spite
of a slight reduction from last week,
showing heavy gains over all correspond
ing periods in previous years.
The less favorable elements in the sit
uation are the reports of arrested or
smaller than expected trade at Eastern
markets, more particularly in textile
lines, low quotations and apparently
less active demand from abroad for our
cereals and reduced prices paid for
the South's great staple, raw cotton.
Qualifying the latter might be men
toned the fact that spring wheat has
apparently begun to move in the North
west and the promise Of large yields in
wheat and cotton alike has tended to
depress prices.
In iron and steel trade the strength
developed has been notable, and the
confidence expressed is striking, in view
of the Willingness of new buyers to
Immediately grant price demands. Less
complaint about rain is heard from the
South. and the quite satisfactory trade
accounts from leading markets appar
emily reflect the confidence in a large
yield of cotton which has depressed
prices &c. per pound.
Business failures in the United States
this week, number 172, against 1915 last
week, and compare with 30 in this
week a year ago: $50 in 1896, 100 in
1895. and 1872 in 1894.
The feature of demand at Western
markets this week has been the inquiry
from jobbers of dry goods, clothing and
boots and shoes special activity being
noted at Chicago, st. Louis, Louisville
and Omaha.
Wheat shipments for the week, includ-
ing flour, aggregate 3,5G3476 bushels.
as against 3.9SS,34S bushels last week.
5.149,653 bushels in the corresponding
week of 1897. 3,2S1, S54 bushels in 1896,
1871. 92S bushels III 1895. and 3.42O000
bushels in 1894 Since July 1st this
year, the exports of wheat aggregate
25.156,5J2 bushels, against 26.5S1 ,999
bushels during the same period last year.
Corn exports for The week aggregate
2,G4S.933 bushels, against 3,196,021
bushels last week, 2,6S2, 452 bushels in
this week of last year 2.610,309 bushels
in 1896 1.124536 in 1895. and 10000
bushels in 1894 Since July LIST. this
year. exports of corn aggregated D.
S71,301 bushels, against 22,3S6,345 bush
els last year.
Hot weather has checked distribution
in Canada this week. but Montreal re-
ports an improved distribution in grocer
les, cheese exports heavy, and prices
moving upward. while Toronto looks for
a large trade the coming week as a re-
suit Of the exposition at that city.
Business failures in the Dominion this
week number 27, against 26 last week,
% in this week a year ago, 81 in 1896
and ~ in 1895.