The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-15
AND Dun
The New Year Has Opened
Very Bright.
CORN EXPORTS LARGE
LARGE ACCUMULATION OF
WHEAT AT CHICAGO.
LARGE ORD RS FROM w00LEN MILLS
Ths Falling on in Wheat Exports Was Due
to Holiday Quiet and Not from
Smaller Demand from Abroad
.-Faihres Smaller,

81 GHuiCs SFtt~''S''
New York. Jan. 14.-R. G. Dun and
Company's weekly review Of trade VIII
say in Its issue tomorrow:
The year has opened with very sat
;sfactory prospect. 1t is all the better
that there is no wild excitement in the
speculative markets and while stocks
advance a little, grain yields little. The
nayments through principal clearing
houses. Notwithstanding n decrease at
New York owing to less activity in stocks
are &c per cent larger than in 1877 ana
101 per cent larger outside of New
York. Earnings of all railroads in the
United States reporting for December,
$40, 364. 279, indicate substantially the
same rate of increase, exceeding last
wears by 1915 per cent and the earnings
of 1892 for the same roads by 1.3 per
cent. Since 1892 was on the whole the
most prosperous year thus far, compar-
isons indicate. notwithstanding the low
est prices ever known, that the volume OF
business is larger, and in spite of some
cutting of rates, the earnings Of railroads
are larger than in the best year of past
history.
The wheat market has been curiously
languid, yielding u of cent, although
Atlantic exports amount to 6.Oo6,aSS
bushels for the two weeks of January,
against 3,9S6,317 last year and Pacific
exports for the week have been 1879
c76 bushels. Western receipts continue
so heavy that with the greatest accumu-
lation of wheat at Chicago ever known
there is little encouragement for specu4a-
ton and receipts were 5,727 $50 bushels
for two weeks, against 3,O9S, 66S bushels
last year.
Corn exports continue large, amounting
to 3,160,6SS bushels, against 4,147, 602
bushels for the week last year. The price
declined about q of a cent Spot cotton
is a sixteenth lower for middling up
lands. mainly because of the stoppage Of
some mills by difficulty about wages
But nothing is definitely known about
the quantity of cotton yet coming for
ward and one report of creditable char
acter puts the years yield at 10,570,250
bales, though results thus far do not
quite justify so large an estimate.
The iron furnaces in blast January /
report an output of 226,60 tons weekly
against 226,024 weekly December /, with
an increase OF 12,4S1 tons in the unsold
stocks held by furnaces. While this
shows a consumption 5211a per cent larg-
er than year ago, there would be dis
couraging indications of consumption but
for the fact that several furnaces were
stopped for the holidays and these with
several others have started since Jan
uary /, while the demand for finished
products does not diminish. The Penn
sylvania Railroad has ordered 100000
tons steel rails and new railroad In
Maine 1000 tons and other orders for
cars, railroad supplies, plates, bars and
structural material are unusually large
for the season.
The wooden manuea cturers have been
buying wool largely and for reasons not
publicly explained. It is EVIDENT that
large orders have been taken by the
leading mills at prices which they find
satisfactory, and the rush of small mills
to buy wool has made most of the market
during the past week, although sales
have declined about 40 per cent compnr-
ed with the previous week. But there
is decidedly better demand for mems
wear goods and the makers look for
ward to a good season. The cotton man
ufacfurers heavily overloaded by exces-
sive production, find no increase in de
mana and no gain in prices.
Failures for the past week have been
$40 in the United States against 455 last
year and 40 in Canada, against II last
year.