The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-07-12

CROP OUTLOOK ABROAD MOI
ENCOURAGING.
MANUFACTURING AT TIE SOUTH
The Cotton Crop Looks Better Wheat Reflect
ed Very Little the improved Prospect
Begging, Hemp Peoducis.
Business improving in Silks,

New York. July s.. L. G. Dun 4 Co
weekly report Will say tomorrow:
The usual half yearly statement Of
failures ~ branches Of business is pc
cuiiarly interesting. because it shows
that war and fears Of war have not
caused increase III commercial disasters.
The surprisingly large and general de
crease i'll trading would, without doubt.
be accompanied by corresponding re
turns Is to manufacturing, but for
excessive expansion in some lines, and
tie helpless condition reached ny 4 few
large firms III other branches. Failures
during the second quarter have been
smaller than ii the same quarter Of the
past four years III trading. and IL man
ufacturing smaller than III the same
quarter Of any year excepting 1885.
The fiscal year has ended with fnan-
cial results 4 shade beyond general cN-
pectations, and the new Wa tax begins
to increase revenue. not seriously dis
turning business in any line. No reason
yet appears to apprehcnd that the War
revenue will fall below expectations.
Criticism Of crop estimates is the less
necdful because the best authorities all
agree that supplies for the coming year
promise to greatly exceed home re
uuirements and i full export demand.
though foi Z month or two yet Europe
may require much more than usual. This
will help to sustain the market, while
the earlier receipts are coming forward.
and prices will then be determined
largely by the outlook for crops abroad
which is not as vet entirely encouraging.
Wheat has reflected but little the i'll
proved prospect, advancing from - to
!EG cents for spot. regardless Of the
usual stories Of injury. the current COM
mercial and the department reports be
ing apparently distrusted by the trade.
The cotton crop looks better and the
prospect is reflected in 4 decline Of Il
sixteenth II the spot price. Il manu-
featuring works at the North are quite
we'll employed. much more than usual
during the vacation season ana the de-
mnnd for goods is somewhat improving.
Abroad. the state Of the manufacture
docs not encourage hopes Of an extra
ordinary demand for the raw material,
While the stocks held ny millers are
known to be unusually large. The South
IS increasing i'll manufacture rapidly and
not entirely III place Of Northern mills.
There is no disheartcnmcnt III other
textile manufacturers, and business is
good and growing III silks. bagging.
hemp products and wool. The manu-
facturer Of wool heSitatoe. but greater
demand has appeared during the past
ten days: because prices 1T which Yves
tern wool is held are too high for prof
table manufacture.
It is not enough 10 dismiss the iron
industry with the bold statement that
4 -, yt;t,. 49,, i.4, n-n, - iIn 4Il--,.+
point Of the year than ever before. It
is getting bigger domestic contracts foI
agricultural implements and also for
structural work. than in any previous
year, but especially for plates, the do
nfand for which oycr-runs the capacity
Of all the works, and not mainly OIL
government account.
! Failures for the week have been DO
III the United States, against 2Mi last
year md Il III Canada, against 80 last
year.