The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-11-12
THE VOLUME OF TRADE
HAS BEEN THE GREATEST EVER
KNOWN IN OCTOBER.
RAILROAD EAaNINGs IN OCTOBER
They were 2 PR cent Larger than in Same
Month Last Year. Exports in 0c'obsr
:; how On Increase Of %
Per Cent
Percent

New York, November 11.-R. G. Dun
x Company's weekly review of the trade
will say tomorrow:
The country has safely passed the
trial of "off year" eiections Before this
election everything except political un-
certainties favored business enlargement
The volume of trade has been the great
est ever known in October and the great
est ever known in any month except De
cember, 1892. The record on November
thus far shows cearings 1O4 per cent
larger than last year and 93 per cent
larger than in 1892. The railroad earn
ings in October have been % per cent
larger than last year, and so per cent
larger than in 1872. Foreign trade shows
an increase of 20 per cent in October
in exports, with 3S per cent in exports
from New York last week. while inn
ports showed Il gain of only - per cent
in October, and credits against foreign
bankers We're piling up at an incOnve-
nient rate. There was, and is absolutely
no anxiety about the currency, and the
Treasury is only too strong. When enor-
nous exports of products are considered.
it seems quite impossible for the country
to meet with serious monetary trouble,
especially in view of past sudplus in
favor of this country
Wheat declined nearly cent, but re-
covered all the loss, with Atlantic eX-
ports, -four included. of 3,33S, 800 bush
els, against 3,274 4S9 bushels last year
and Pacific exports 1,016,961, against
/ ,592. .352 last year Western receipts u
924 ,045 bushels for the week, against T.
255, ,514 bushels last year, continue TO rem
der the holding back of stocks mani
festly a failure.
orn has but slightly changed in price,
with exports of 1902. 331 bushels, against
2,474,641 last year, and an increase of
more than Il half in Western receipts.
Cotton remains ut the lowest price On
record. with heavy receipts and without
large milling demand.
Iron production November 1st was
DDS 93j tons weekly. against 215,630 De-
tober 1st, and a decrease is seen OF
35, ,241 tons in stocks unsold outside the
holdings of the great steel cOmpanys, in
dicating an actual consumption of l.
.O1964G tons i'll October. about 2S3, tons
daily greater than the largest ever shown
in any previous month on record.
The export demand is beyond all
dreams. 10000 tons rails for November,
and 100000 tons plates, besides $500
tons billets from Petersburg alone, with
great quantities of bars. rods, wire and
other finished products The works are
generally filled with orders. including
many from Ocean and Lake ship-yards.
and many for cars, with SeaSOnable de
mand for other products.
The minor metals still advance. largely
with the London demand, tin to 1880
cents and copper to 1852 cents bid for
lake with lead steady ut 371a in spite OF
heavy Mexican arrivals.
Wool sales for the past week were
only 3.735, 900 pounds at the three chief
Eastern markets, and We're secured by
concessions at all markets, as last week.
making 1924, 800 pounds. against 49,
652902 for the same two weeks last
wear. and 12,2S9.600 pounds for the
same two weeks in 1899. Many holders
are refusing to abate their prices, though
large manufactures bid below current
market prices. because of their uncertain
ty in regard to the demand for w0oen
goods, which has somewhat improved.
and yet not greatly. 1t is growing in
the minds of holders of wool at the
East that the supply of foreign ana
domestic wool on hand is much greater
than has heretfOre been supposed. Cot
ton gods are in the whole in better
demand although denims are slightly low
er, and little can be said Of encouraging
character as to the demand for staple
goods of domestic use.
Failures for the week We're 211 in the
United States, against o91 last year
and 26 in Canada, against "A last
year
WEEKLY BANK CLEARINGS.
New York. Noveber 1.-THE total bank
clearngs in the United States for the
week were $1,254,55S,5S1; per cent de-
crease 60.
Exclusive of New York, 1923. 1886 ,694;
per cent decrease Al