The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-06-18
GRAIN MARKET 'QUIETER
BANK CLEARINGS AHEAD OF
ALL PREVIOUS RECORDS.
GREAT ACTIVITY IN MANUFAC TURING
The West and Northwest Continue TO be the
Scene Of Relatively Most Activity in
Demand and Movement of
Merchandise.

New York. June -Bradstreet's to-
morrow, will say:
Unprecedented foreign trade totals in
volving heavily increased shipments of
breadstuifs provisions, raw cotton and
manufactured products; ilattering crop
prospects, pointing to very large yields
of wheat and most other cereals. as well
as cotton; profitable railway operations
as reflected in relatively heavier gains
in net than in gross receipts; activity in
nearly all lines Of manufacturing eX-
cept some textile branches; prices for
most staples showing heavy advances
over the preceding year; bank clearings
exceeding all previous records at this
date volume of new demand. limited
in the East and South to midsummer
dullness, but in the West and North
west comparing favorably with records
Of previous years, and a low rate Of
business mortality, are all features Of
the general business situation at the
present time. The collapse of Letter
and his deal in wheat, with the demOral-
ization in prices which was Il concoml-
tant, has been followed by quieter
feeling in cereal markets, but export de
mand. partly on early placed orders has
improved, and more is doing by flour
millers 1t is true that the continued
wet weather in sections west Of the
Mississippi is affecting wheat harvest
ing, but the opinion leans to n crop Of
900 bushels of wheat and large
yeld Of most other cereals. with corn
promising least favoraby. Cotton acre
age and condition foreShadow yield
which may be slightly smaller than last
year. but this might easily be cOmpen-
stated for by an advance in values, which
are higher on the week. A rather quiet
tone is shown in the iron situation this
week relatively most activity being eX-
hibited at the West Cotton goods il
anything, are slightly improved, but
raw wool is still under restricted demand,
because manufacturers find new BUSH
ness slow. The price situation for the
week reflects steadiness, the only import
ant decreases being i'm Southern pig iron
wheat and flour, while hides are higher
at the West, a number of metals have
been advanced and oats, corn, lard and
cotton note fractional advances.
The West and Northwest continue the
scene of relatively most activity alike in
demand and movement of merchandise.
The excellent crop prospects in the
Northwest are reflected in a satisfactory
trade in SeaSOnable goods and n rela-
lively larger volume of orders for fall
trade, with the aggregate sales at most
cities heavily i'll excess of the cores
ponding week in recent years. Wheat
exports for the week aggregate ALSO,
1877 bushels against 4,730,9S2 bushels
last week, 2,547,319 bushels in this week
year ago, 3020.317 bushels in 1896,
1857 ,307 bushels in 1895 and 1,927,000
bushels in 1894.
Corn exports are also slightly smaller
than last week, amounting to 4,106.0O0
bushels, as compared with 4,TT4,303 in
the preceding week. 1,924,313 bushels
in this week a year ago, 1,510000 bush
els in 1896 and $4,000 bushels in 1895.
Business mortality is at a low point
the failures for the week numbering only
207, II smaller than a week ago, nine
teen fewer than in the corresponding
week of 1897, fifty-cight smaller than
in this week in 1896. twenty-four small
er than in 1895 and only twelve larger
than in this week of 1894, when restrc-
ton of credits and dull business was
most marked.
Failures in the dominion of Canada
number 10, decrease of seven from
last week, of 10 from the total in this
week year ago, of Is from 1890, and of
IL from 1898.