The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-03-12
HEAVY EXPORT DEMAND
LARGE SALE OF COPPER AND
PRICES HIGH.
VOLUME or IRON AND STEEL VERY LARGE
Bank Clearing Smaller Than in Recent Weeks
Few UnfayorabIe FcatureS--CIose Of New
England Cotton Mill Strike Likely to
improve Trade Situation.
Improve Trade Situation.

Improve tTdue 0IluduOH'
New York, March, 1t.--R. G. Dun 81
Company's weekly review of trade will
say in it's issue of tomorrow:
1t is most gratifying that no industry
or branch of business shows any restric-
ti0n or hindrancc, but have been rapidly
gaining for the past week and month.
The railways are gaining even while
spectators are selling their stocks, and
the demand for products for all the great
industries is increasing. More gold is
coming from Europe than is needed,
$1O,S6S, 900 having been ordered during
the past week, and money markets are
nowhere alarmed or stringent, though
reasonably more cautious. The country
rests assured that its industries, almost
all of its business, the foreign demand
for its products, especially all its re-
sources are beyond the reach of any
foreign power, and that its honor aud
foreign interests are in safe hands.
The greatest of all industries is send
ing grain forward as if there were no
limit to the supply. Wheat experts
have been ALL .497 bushels, flour in
eluded. against ! ,26S.171 last year from
Atlantic and Pacific ports. and for two
weeks Z, 7,462,73O bushels, against 3,016,
54G last year. Exports of corn. in spite
of smaller yield, have been 7706, 4A4
bushels i'm two weeks, against 9,336, 500
last year, when they far surpassed all
records. Wheat declined 2h cents, but
corn did not change during the week.
Cotton declined an eighth, sales of fer
tilizers indicating less reduction of acre
age this year than was expected. Ex-
ports of principal products in February
were SCI ,634,09 i'm value, with in-
crease over last year of about 30 per
cent in breadstuff in cotton 25 per
cent. and % per cent. in the aggregate.
The weekly output of pig iron was 22S,-
33S tons on February LIST. but 234 430
on March 1st, and the increase of unsold
stocks in February was only 1852 tons
weekly, leaving 225.532 tons weekly for
export or consumption. against 2lS,401
in January. and 21J.249 in November,
1895, the month Of greatest consumption
before this year. For four months pro-
ductiOn has gained little. but cOnsump-
ton still more, and if preparations for
war last only IA few weeks. they viii
add much to the demand. Other con-
sumption for railroad ears, for vessels
on the lakes, for elevators and oil pipe
lines, for agricultural implement works,
and for sheets, is beyond precedent,
and structural and rail works are crowd
cd with orders, though now receiving
few.
The minor metals are generally strong
or in demand. Sales for wool for this
week have been the smallest since the
week of greatest alarm in August, 1896,
but not because any mills have stop
ped work. Cotton goods have large
distribution and prices arC' generally
steady, though in outside dealings print
cloths are shade lgwer. Prints are
i'll better demand.
Failures for the week have been 24S
in the United States, against 25G last
year, and Sc in Canada, against 81 last
year.
BRADSTREET'S REPORT.
New York, March 11.-Bradstreet's to-
morrow will say:
Continued activity i'm nearly all lines
Of distributive trade. but more parti-
cularly at the larger cities of the West,
South and THE far Northwest is the
most favorable feature coming under
notice. Other favorable features include
the heavier foreign demand for wheat
and -four, as indicated by increased ex.
ports over last week and last year and
bank clearngs heavily exceeding CORES
ponding periods of previous years, though
smaller than in recent weeks. Less ia
vOrable features are few. The volume
r. in n.
is reported very large, with relatively
best reports coming from the West. Pig
iron production shows II further gain
and stocks a slight increase.
Large sales of copper are a feature.
and prices are reported higher for the
week, as are also the quotations for In
dian corn, and wheat -four. The indus
trial situation, seems likely to be improv-
ed by the ending of the New England
cotton mill strikes.
Business lis generally active at the
West. Southern and Southwestern buy
prS are more active at st. Louis. Kan
sas CITY Packing houses report demand
one4Hhird larger than last year. A per-
ceutible Improvement in distribution is
noted Mt Chicago in many lines of trade
An order for ten thousand tons of steel
rails is a feature of the weeks business
at that city. Trade is of satisfactory
volume at the Northwest.
Export business in flour and wheat
from the Pacific coast shows a consid-
arahIe gain. Boat building is active ON
Alaskan account. A good business is
doing at the South.
Business failures in the United States
this week number 247, against 90 last