The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1898-09-13

Favorable Basic Features Of the Mar.
ket COntinue-Confdence I'm the Pm.
ture-The Iron and steel Trade Sull
Heavy.


New York, September eBradstreet's
tomorrow will say:
Heal n holidays have impaired an
irregular appearance to speculative
and general distributive trade this
week, and, therefore. TO bank clearing
returns, more particularly at the east;
but with the arrival OF cooler temper
atures some improvement is reported
at those markets. Generally speaking.
favorable basic features already noted
still continue most in evidence, and the
attitude Of quiet confidence in future
good trade is better. Conditions III
many leading industries, but particu-
larry in iron and steel and its various
products, are OF continued, and, in
some cases, growing strength. The
general level of prices of staples is the
highest reached for five years past.
Railway earnings, favored by the en-
larged movement Of wheat 10 market,
are showing larger gains han have
been recently reported. A good export
demand for agricultural and manufac-
tured products is reported. Failures
remain at a minimum, and reports OF
poor trade are conspicuous by their in
frequency.
Less favorable crops abroad and good
spot inquiry are reflected in a rather
steadier tone in wheat and in advanced
quotations for ocean freights. Corn
continues to experience a weather
market, but prospects of yield are
still regarded as favorable.
Following the intense activity in the
placing of orders for iron and steel IN
the past few weeks has come a quiet
I-% n h,iv-
ers, and the very firm, and in some
cases, the upward tendency of prices
I point to the conclusion that the lull is
due almost entirely to the mills being
already heavily Oversold. Export
business has certainly been checked by
the inability of American mills 10 de-
liver within time limits set, but orders
have been placed at the west this week
for a large lot of steel bars for ship
ment to England.
| Unabated activity is reported at Chi
| cagO, and dry goods shipments cannot
be made fast enough. Small, but mum
erous, advances in prices OF dlfferent
| classes of steel are reported from that
| city and St. Louis. Railroads are re-
| ported buying two to three months
ahead of time. Business is active at
| Kansas City, Omaha, Cleveland, Louis
| vile and throughout the entire north
west. On the Pacific coast San Fran
| cisco reports merchants interested in
| developing trade with Hawaii. Health
| full activity exists in distribution at
Portland, Tacoma and Seattle. Some
| check to trade is reported in the lower
| Mississippi valley, caused by reports of
| yellow fever, and heavy rains on the
| south Atlantic coast are said to have
| impaired cotton crop respects and to
have checked trade and collections,
| but the report from the south as a
whole is still good, based partly upon
| last seasons immense yield and conf
| dence in another heavy crop this year..
Southern mills have done we'll dur
ing the season just closed, contrasting
sharply with northern mills in this re-
spect, but the need Of an increased for
eign outlet for American goods is un-
~mistakable.
Wheat shipments for the week, in
| Guiding flour, aggregates $500, 30S BUSH
| els, as against 1857, 040 bushels last
| yeek, 5,461, 500 bushels in this week one
year ago, 3, 799, al bushels in 1896, 1,S10,-
| O39 bushels in 1895 and 2.7S9, 900 bushels
in 1894. Since July list this year wheat
exports aggregate 30, 493, 500 bushels,
against 3S,311, 752 bushels during the
| same period of 1897.
Corn exports for the week aggregate
| 3.S6S, 500 bushels, against /, 661, 700 BUSH
els last week, 4,943, 34S bushels in the
corresponding week of 1897, 2,265,44S
bushels in 1896, S49, SOP bushels in 1895
| and SO, $40 bushels in 1894. Since July
| 1st, his year, the exports of corn ag-
| gregate %, 407, $40 bushels compared
with 80, AIS, 757 bushels last year
Business failures in the United States
number 142, against 1e4 last week, 173
in this week a year ago, 3OS in 1896, 213
in 1895 and 223 in 1894.