The Portland daily press., 1898-02-05
Severe Cold and Heavy Snow Inter.
fered With Trade.
GENERALLY SATISFACTORY IN
SPITE OF INTERRUPTION.
Cotton Business Has Improved If Anything
Bank Clearings show an Immense
Volume of Observation-Disclosures Slightly
Above the Normal

ADOVe the Normal.
New York, February 4--Bradstreet' s
tomorrow, will say: Severely cold wealth
er accompanied by high winds and heavy
snow, has been feature exciting con-
siderable influence upon the movement
and distribution of staple goods this
week. The northern eastern states ap-
pear to have felt the effects of the storm
most severely and reports of checked
distribution come from many points in
New England, the Middle States and the
lake REGION. In spite of this interruption
OF business a satisfactory trade for the
season. is reported in most lines, with
special activity reported in the iron and
steel trades and kindred lines. In the
east the distribution of dry goods and
wool has been checked and the movement
of produce greatly interfered with, but
the tone Of the cotton goods situation is,
If anything, improved. In the Middle
States and in the central west the move
ment OF iron into consumption is still
very large, but nervousness as to possible
over production affects that market.
Steel is slightly lower at the east but
firmly held at Chicago, which also re-
ports advances in iron bars, wires and
nails. Western mills will not agree to de-
liver steel rails, billets OF rods on new
orders before July !. Southern buyers
are coming into St. Louis more numer-
ously than usual at this date, ,and the dis
tribution of dry goods, boots and shoes
and drugs is active. In tho northwest
better trade is reported, and cold weather
has helped the distribution of season
able goods.
At the south trade is reported improved
at several important centres, and the
total of January business is said to Lave
teen above the average. Tho light freeze
did little damage to Florida truck farm
ing interests. Alaskan business on the
Pacific coast is still very active, but ex
port trade in cereals is small. Rain is
needed in California or crops will be con-
siderably shortened. Steadiness in prices
has been feature of the week, the only
decreases noted being in wheat, corn and
flour on speculative reaction, and in
lead. while the prices of oats, pork, beef
and coffee. are higher. Print cloths show
further advance, and the cold weather
has. affected anthracite coal production,
witt. consequent advance of IL cents
per ton. Business failures, though slight
ly larger than last week, number 295,
against 288 the week before, and little
above the normal. They compare with
total number failing in the correspond
ing week of 1897 of 305, in 1896 of 1888. in
1895, of 295 and in 's4 of 3a6 The total
number failing in the first week of Feb
ruary, 1898 was 1913.
Bank clearings for January reflects the
immense volume of commercial, financial
and speculative business. Settled through
the banks OF the country during that
month in a total of 72 cities having com
parisons for four years past larger than
any previous monthly total of which there
for showing a larger number of gains
over the preceding year than any month
for many years past Clearings for the
first week of February are also very large,
aggregating 1910, 600, GOO, 3-6 per cent
larger than last week. 46 per cent larger
than year ago and 5.5 per cent larger
than the corresponding week in 1895.
The export movement of cereals shows
a heavy falling off for the week, but is
still ahead of the same week of preceding
years. The total shipments of wheat,
flour included, amount to 3, 433, 794 BUSH
els, against 5,026, COZ bushels last week,
&. 16S, 600 bushels in this week year ago,
3. 9O7. 900 bushels in the corresponding
week of 1885, 2, ,O20, 600 bushels in 1895 and
Z, ,678, 900 bushels in 1894.
Indian corn exports show large fall.
ing off, aggregatiug 4,104 9Sl bushels this
week. against 4, ,962, 900 bushels last week,
8. 659, ,OO0 bushels in this week a year ago,
3.212, 900 bushels in 1895 and 927, 900 bush
els in 1895.