The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-12-20
IRON AND STEEL BOOM
PRODUCTION AND DEMAND
NEVER BEFORE EQUALLED.
PRICE ~Sl1UaTl0N IN OTHER LIVES G1OD
Increased ~ln.eres. in Cotton at the Advanced
Prices. Holiday Trade is Extremely
Active. Export Trade Larg-
- E,.or knn,.n
es Ever Known.

morrow will say:
Likening the general business of the
country to that Of Il water course. it MAY
be authoritatiyely stated that nearly Ill
the channels Of seasnnlble trade are
at the present time running full. and
III some ines OF business the stream
IS virtually out of the banks. This IS
Particularly the case in iron and steel.
where production and consumption de
mand are alike going on at an unDrece-
d"nted rate. at Il time. too. when it is
usual to look for quietneSs and even
d~ullness in this industry. Nothing like
the present activity in this branch of
trade has been seen for many years
past. if. indeed, it has ever been equalled.
-Advices from the leading centres Of
IRON production are of an eXccDtionally
eager demand for the crude and manu-
featured products and Of advancing
prices the only anxiety expressed being
that by buyers desiring early delivery.
Probably never before in the cOuntryS
history has it been possible for an Amer
lcan steel company to refuse Il profitable
order for rails for foreign account on
the plea that its mills were already fully
occupied so far ahead as to preclude its
trying for the business. Higher prices
for pig iron. steel billets. soft steel and
al sorts of car material are reported.
while the production of raw material is
at its maximum. Snip building. too.
contributes its portion Of activity to the
IRON trade by its urgent calls for ma
terial.
in other lines of business the situa-
I on as regards prices is Il favorable one.
notable among the advances reported
being nearly all the cereals, cotton, cot
fec, lumber. copper. lead and a variety
Of other less prominent staples. Fol
lowing the slight recession shown in
wheat values of last week an improved
demand for export has again developed
which is evidence of the fact that stories
of keen competition from Argentina and
Russia have been more or less discount
cd. the United States remaining as for
some time past the principal source Of
supply of the world. Increased interest
is being taken in cotton at the advanced
price. and the situation Of the manufac-
tured product has been strengthened by
skillful cement of the print cloth
situation, which III turn has induced Il
more liberal demand for kindred pro
ducts for the spring trade.
ScaSOnablc %quietneSs is reported in the
lumber trade, but prices retain all their
old strength. and an active demand is
looked for with the turn of the year.
Holiday trade is reported extremely &C
tive at most markets. The country's ex-
port trade is of the largest volume ever
known. that for November surprising
the total for December a year ago. with
the indications fayoring a total trade
for the calendar year ut least one-siXth
larger than Il year ago. and our sales
abroad aggregating two dollars for every
dollars worth we buy.
Wheat. including -four, shipments for
the week aggregate 6,O76.62o bushels.
Portland. Maine, not received. against
6,St;S.9 5o bushels last week. 4.6O4.399
bushels in the corresponding week of
1897: 2,OJG.943 bushels in 1885, and 3
554.3}3 in 1891. Since july 1St this
year the exports Of wheat aggregate 1O9.-
4n3.11o bushels. against 11S.SO9.O91
bushels last year. Corn exports for the
week aggregate 3.2J1 1886 bushels.
against 4,3SS.53o bushels last week: L.
129.S1S bushels in this week Il year ago:
2.S14.15O bushels in 1896. 2.O57.97O bush
els in 1895 and G5S.O6G bushels in 1891.
Since July 1st this year corn exports
aggregate 12.21S. 200 bushels, against H.
ISL .443 bushels during the same period
last year.
Business failures are about nominal.
numbering 233 for the week. against 231
last week. s III this week Il year ago,
3.9 in 1896, 5 III 1S95 and 800 III
1891.
In Canada 81 this week. against %
last week and Is last year.