The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-10-22
OF TRADE SITUATION
RISE IN OCEAN FREIGHT RATES
DETERS SHIPPERS.
SITUATION IN THE SOUTH IMPROVED
Owing TO Frosps Stopping Growth Of Cotton
and to The Abrogation Of Quarantine
Restrictions. Our Import
Trade Increasing.

New York, Oct. 2l.-BradstreetS to-
morrow will say
The dominant feature of the general
business situation is unquestionably the
active foreign demand for wheat, wheat
flour and. indeed, nearly all our cereal
products, and the business reported Oh
this account during the past ten days
seems worthy of rank with the best re-
corded in any corresponding period.
While straitened stocks abroad and less
satisfactory advices from other coun-
tries. notably Russia, Australia and Ar
gentine, have furnished plausible basis
for much of the recent activity, an add
tional stimulating feature was injected
into the situation this week by the more
war-like appearance of the Franco Brit
ish situation and the closing days, in
deed. witnessed war rumors i'll practical
command of the market including much
short covering by steadfast bears. Lest
the rather moderate figures of current
exports be disappointing. In view of the
heavy engagements reported, it might
be remarked that much Of this demand
is necessarily what might be termed
forward business, and, indeed, stocks
in this country, in spite of heavy current
deliveries by farmers could hardly allow
of prompt shipment, even If the ocean
freight situation was not a strained one.
Quotations for freight room have, in fact.
operated as q deterrent feature on this
export business. General distributiye
trade. particularly at the North, appears
to have suffered from bad weather con-
ditions this week, which have interfered
with regular business and deliveries; but
on the other hand, have induced consider
able buying of boots and shoes, rubber
goods and heavy clothing at many mar
kets. The situation at the South is
rather more favorable than for some
time past, this resulting mainly from
the abrogation of many senseless quar-
antine regulations, as result of the
advance of the frost line southwark to-
ward the Gulf Some important changes
in the situation of textile goods and par
ticuarly cotton and wool products, ap-
pear to be impending. Rather more
firmness has been, impaired to the former
staple by the talk of frost checking fur
Their growth of the plant in the South,
and the establishment at Fall River Of
the long expected and often-threatened
joint selling agency for print cloths and
similar goods has stiffened the price of
those products quite materially. In wool
and wooden goods, too, signs of improve
ment are a trifle more numerous.
The foreign trade situation is about
as described last week, except that large
decreases in few leading exports have
been partly made up by increased ship
ments of American manufactures, and
the nine months figures point to q COM
plete calendar years business in advance
Of all predecessors in volume of export
trade. Our import trade begins to show
slight increases over corresponding pc
RODS wear ago, and the substitution
of dutiabe for non-dutiable goods IN
this movement points ta On easier posi-
tion in the customs situation. Prices
are quite strong, notable in this respect
being all the cereals, lard, pork, cotton
print cloths and raw sugar. Little
change is noted in the iron and steel
market, which as for some time past
continues quiet as regards new business
tho the mills and boundaries are still
activelv employed. The general indus
trial situation continues favorable. EN-
plovment being quite general. Darticu-
larly in the West, except in the glass in
dustry, where a shutdown pending
a wage scale exists.
Wheat. including flour. shipments for
the week aggregate 4,5S2,773 bushels
against 4,729.995 bushels last week
5.552171 bushels in the corresponding
week of 1897; 4,O67.271 bushels in 1896
2.65S.554 bushels in 1895 and 3,353, q.
bushels in 1894 Since July 1st, this
year. the exports of wheat aggregate 81.
21OSS9 bushels, against 72,472,20s
bushels last year
cg-,, exports for the week aggregate
2,397,191 bushels, against l06,29i
bushels last week; 1,117,543 bushels u
this week year ago; 2979,9S4 bushels
i'm 1856: 1,343,51 bushels in 1895 ane
92.OS7 bushels in 1894. Since July lst
this year, corn exports aggregate A.
345. 434 bushels against 47,020,36l bush
els during the same period a year ago.
Business failures in the United States
this week number 213, twenty less tina,
last week and compared with 20o in thi'
week a year ago, 212 in 1896, 259 il
1895 and 221 in 1894.
Business failures in the Dominion o
Canada number "a as against y las
week. 81 in this week a year ago, AZ
in 1896 and 36 in 1895 and 1894.