The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-04-09
BRAOSTREET AND DUN
State of Business Not Easy
to Judge.
.NOLESSENING OF VOLUME
BANKING CONSERVATISM HAS
NOT CAUSED FAILURES.
EXPORTS OF COTTON EXTRAORDINARY
The Wheat Outgo Counts for Much and Con.
tinues Heayy--Disasters in Trade Make
the Best Showing for
Five Years

New York. April S.--R. G. Dun &
Co.'S weekly review of trade will say
tomorrow:
When everybody is asking whether it
is to be war or peace, the state of busi-
ness is not easy to judge. Since nobody
can Judge just how wise bankers may
be in an emergency, there is some UNI
certainty. but thus far scarcely any
stoppage whatever of manufacturing
concerns appears, nor any indication that
the producing force is likely to be d.
mnished, nor is any such symptom to
be seen in business reports. Evidence
Of exiting condition is not confusing or
unfayorable. So far banking conserva-
tiSm has not caused failures, which CON
tinue smaller than for many years as in
March, nor has it caused stoppage of
any manufacturing concerns, nor les
lsened the volume of business reported
by railroads in tonnage, or clearings at
principal points.
The wheat outgo counts for much and
continues, Atlantic exports having been
2.240.112 for the week. against 1.52I =
I'D last year. and Pacific 1,226,574 bush
els. against 447,JS5 last year. Since
corn exports continue 3, 4S3, $50 bushels.
against 3,323.217 last year, the strength
of the demand is not to be attributed
TO speculative agencies. 1t is fortunate
that western receipts of wheat do not
fall short of the extraordinary gain.
but are still 1901 800, against 1,7S9,110
last year, SO that the stories of the near
~ exhausted supplies of what are
fables for children. The prices rose
steadily, and closed two cents higher
for wheat. with corn / cent higher At
the same time the exports of cotton are
extraordinary. though just now defer
red by the caution which causes larger
shipments by rail 10 New York instead
of outside from Gulf ports. For four
weeks it has averaged nearly $500
600 per week greater than in 1895, from
the largest crop ever grown, in spite
of the fall i'll price, which has not
changed during the week.
Under such conditions heavy industrial
demands for great force of operatives
have been effective. The truth is that
every great industry meets enormous
oyer-production compared with corre-
spending demands in any other year.
however prosperous, and yet nearly all
are keeping almost their whole force
employed, and some are increasing force.
Sales Of wool are insignificant, and prices
have declined 2 cents for finer grades.
and over / cent in the average for
all quotations, only because spectators
wholly underestimate stocks held by
manufacturers. In the iron and steel in
dustry. with demands greater than ever
before from general sources, urgent or
ders from the government enlarge work.
but do not advance prices.
Disasters in trade shown this week by
separate branches of bushes for the
month of March. and also the first quart
or OF $685. make the best report that
has been possible for five years. 1t is
interesting to note that nearly all
branches of business show surprising
movement Meanwhile banks are OK
tremely cautious. and commercial loans
are but 10 per cent. of their aggregate.
The Eelief that quick expansion in all
branches would follow greater liberalty
and patriotism by the banks is not
wholly unfounded. and the heavy re
ceipts of gold from Europe count for
little. compared with the greater or less
libcrality in loans by banks. Distur-
bance does not yet appear, however. and
failures for the week have been 232 in
the United States, against 252 last year
and b in Canada, against 80 last year
BRADSDREE1vS REVIEW.