The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-08-16
Rarely Has the Financial
Outlook Been Brighter.
SECURITIES STRONGER
MONEY MARKETS SlIoN ~
sign OF POSSIBLE DIS
TURBANCE.
NO HARMFUL SPECULATION IN STOCKS
Crop Prospects on the Whole More trcourag-
ing Orders Unusual in Size and Num-
Der Placed S nee Spain Ask
ed for Peace.

Der Placed S nee Spain Ask
ed for Peace.
New York. Aug. Il K. g. Dun anu
Company's weekly review Of the trade
Viii say tomorrow:
Prospects OF peace have had Il curious
| influence on business contracts, not quite
cNplainablc on common sense grounds.
Nobody really feared disaster, or cXhaus-
ton of national resources and nobody
feared that anybody else was afraid Of
either. Yet orders unusual III number
aud size have been placed since Spaln
| asked for peace. Ia some industries the
gains have been large for about two
weeks, while in some textile manufac-
lures it has only begun to appear tins
week. bat it involves a considerable IN
crease in the working force. Crop pros
poets are on the whole more cnc0urag-
inc. for the governments latest report
az to corn is much larger than the com
( mcrcilI estimates. and its cotton return
| promises Il heavy WELD. while allowance
| is made for its habitual error III its wheat
! return. Money market shows no sign #
possible disturbance. securities are
; stronger, and there is no harmful spccU-
lation III stocks or products. Rarely has
the financial outlook been more nearly
unclonded.
! While wheat is four cents higher
for the week. there is more or
less doubt than 4 week AGO that it Will
rule lower during the coming year.
The general holding hack Of grain by
farmers and conscqucnt heavy shrinkage
in Western receipts. have reduced the
visible supply below all past records.
but everybody understands that 1T this
date many times that quantity is almost
within Il days run of Chicago. The
more effective change is the decrease in
exports which have been only 3,231,S1J
bushels. flour included. from both
coasts. against 3.S32,974 last year show
inc hut Il slight increase of half q
million bushels for two weeks. compared
With last year. The price Of corn has
declined Il shade for cash. and the
Government report promising almost p
OOM,OOO,O0 bushels against SD. 600, 600
bushels promised by commercial ac-
counts, has more weight because the
official returns as to corn have not been
Systematically misleading and every
where diScrcditcd.
\ slight furry in cotton lifted the
price 4 sixteenth on Tuesday. but.it
dropped again the next day with the
official forcshadoWing Of Il large yield.
Tho iron and steel trade fully sup
ports differences drawn from recent
events. The demand for steel is 50 heavy
that some Of the biggest concerns Iuvc
been buying. one taking 10000 tons. adj
vancing the price 1T IitShur- from S14.ou
to S1o.2o. which WAS at last refused.
BcSscmer pig is steady and other pig
there, and at Eastern and Western
markets generally has been advanced by
Eastern makers to SIS per ton, the
makers of structural beams have
advanced the price 81 per ton and makers
of merchant pipe have advanced the
price } per cent. while plate makers arc
crowded TO the point Of refusing orders.
both East and West. and bars are
stronger. with many mills engaged for
weeks ahead. Illustrating the demand
arc reports Of orders for 10000 car
aNlcS at Chicago, 10000 tons structural
work there and big orders at Pittsburg
and Philadelphia for cast pipe. and g.
300 tons elsewhere.
Eastern works now appear to be
crowded to their utmost cnpacfty. rs the
Western have been for some weeks. In
the minor metals there Is heavy buy
ING. Textile works have been sleeping
but arc awakening. The. demand for
W p'lth S'''lS II iioN lilIc1 itIItE, al
though not yet extensive enough to war
rant paving the prices asked for new
wool. and nearly all Of the buying has
been Of old stock. Tho aggregate sales
at the tire" chief markets nave been
only 5.f32. 200 pounds for the week.
about 4 third Of the sales in the same
week Of 1897. while in 1892 for the
corresponding week salce were 7.IG46OO
j pounds.
The demand for cotton goods is a
little better rs to staples ana fairly
good for print cloths. prints and cling
hams, and vet probably docs not suffice
to cover the current output.
For the week failures have been 1oG
II the lnitcd States, against 230 last
year and Is in Canada. against IS last
year.
WEEKLY BANK CLEARINGS.
New York, Aug. 12.-Thc total bant
clclrincs for the week were S1.221.9oa-
o21: per cent increase. is. Exclusive Of
New York the total was So. 81 900.
per cent increase. IL.
HESTER'S COTTON REPORT.
New Orleans. La. August - Sncro-
tary Hester statement Of the worlds
visible supply Of cotton shows Il decrease
during the week Of 11S.442 bales. against
4 decrease of 9S2.361 last ycar AMI >,
decrease Of Sf.S2G in 1872
The total visible is 1.S674S7 baIos
against 1.9S5,929 last week. ana 11f1 !
Sol last year. OF this the total Of
American cotton is 1.639.4S7. against
1.I6S.!29 last week. and 92O.fG1 last
year. and Of all other kinds. Including
Egypt. Brazil. India. ctc.. o2S.WO
aGalnSt / 900 last week and oil ooo