The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-09-17
ADVANCE IN PRICES DUE PROB
BADLY TO MILLING DEMAND.
LARGE ORDERS CROWD IRON WORKERS
Nineteen Furnaces have Started up Since Last
&c ss Month important Cotton Mills have
Stopped, and Print Cloths
Hold their Own.

Business is passing well through the
difficulties that attend the winding up of
a war, which are generally greater than
while war lis in progress The rush of
orders kept back while war lasted, by
those who thought it shrewd not to take
any chances, has lifted prices little
and caused larger demand for the time
than can continue, but though it has
passed, there is ample evidence that the
consuming demand is very large. How
large can only be judged after some
weeks of waiting, but it looks as if
those who wait longest are likely to pay
most. The business Of the country is
expanding so that payments through
clearing houses i'll the second week of
September were 225 per cent larger
than in 1892, and for two weeks 1870
per cent. larger From these and rail-
way returns, and such trade reports as
are instructive, it must he concluded
that much more business is being done
than in the best of past years, though
not always with much profit.
Wheat has come forward much more
freely, and the price has advanced , per
cent 1t is supposed that the advance
is largely due to milling demand COM
ing upon Il narrow supply. Exports
are large. 3007.976 bushels. flour in
Guided, from Atlantic and POI, 052 bush
els from Pacific ports. and for two
weeks 5,G97, 800 bushels from both
coasts, against 10,796S53 last year.
Receipts of wheat for two weeks of Sep
TENDER, have been 1868, 800 bushels,
against 1867. LOG las year The for
eign demand will be smaller and the
American crops larger than last year.
The slight yielding in corn was due
rather to the government report, which
is not entirely discredited as to that
crop, than to any change in movement.
which has been small compared with
last year The exports for two weeks
have been 4.351 ,331 bushels, against
7,075.363 last year
With the starting of 10 furnaces idle
a month ago. partly not included as yet,
the weekly output, September 1st was
213,043 tons against 206,T1, August
1st and the decrease in stocks 116,929
tons i'm two months, indicates c0nsump-
ton but little below Il million tons per
month. Structural work rs the heaviest
ever known at Pittsburg, though small
or than last year at New York. Bar
mills are clowcgd with the general rail
way demand for automatic couplers and
Orders for rev cars, 500 for one road,
and n large order for street cars to ia
pan. and plate mills are everywhere
crowded The demand for pipe is the
largest for Il long time, and also for
boiler tubes. and the sheet mills are
crowded west Of Philadelphia. while the
foundry consumption is heavy and The
rail mills NOT yet ready to accept orders
which they cannot deliver for months
leipg engaged far ahead. Southern pig
has bean sold for export, 10000 tons in
all. including $4,000 to Scotland, and
orders for $4,000 more have been re-
fused. Tin is quiet at $l601, and lead
at 4 cents. with copper strong at l212
and spclter at $3.50, in spite of sensa
tiona rise at London. Heavy sales have
blocked the project for tin plate trust
at present.
Important cotton mills have stopped,
and print cloths hold S206 with other
cotton goods unyielding, but cheap ma
| terial hinders operations for those WHO
have to sell goods made from higher
priced cotton. Wooden mills represen
rather better orders, although much ma
| chinery is idle, those who have not old
| wool bidding much below the current
| prices, which are so far maintained that
| sales for two weeks have been only
| 6.G3J. 800 pounds. against 36,629,40 last
wear. and 17,015,10 i'll the same weeks
OF 1892 1t is worthy of notice that
100000 pounds Australian wool was sold
| at Boston for shipment to Europe.
| While the mills cannot buy at present
prices except for mixture with other
| woods many insist just as they did eight
months ago. that the old stocks must be
! about exhausted.
Failures for the week were ia in the
United States, against 204 last year, and
% in Canada, against 40 last year.
WEEKS BANK CLEARINGS.
New York, September 16.-The total
bank clearings in the United States for
the week were 81, $3.50, 603, 29S; per cent
decrease 40. Exclusive of New York
! S4S7, 276, 29S; per cent decrease 5.3.
HESTER'S COTTON REPORT.
New Orleans, La, Sept. 16.-Secretary
| Hester's statement of the worlds supply
| of cotton shows an increase for the week
| Just closed of 221, $40 bales, against an
| increase Of 94.79S last year and an in
crease of Il ,231 in 1894.
The total visible is 1,59S,6S3 against
/. 577,0 64 last week and 1,113,6SS last
year. OF this the total of American COT
ton is 1,4026S3 against 1,375,064 last
week and 912,68S last year, and of Ill
other kinds, including Egypt Brazil,
India, etc, 10000 against 202,O 900 last
week and POI, 900 last year.
Amount brought into sight for the
week ending to-day is 159S40 bales
| against 244,662 for the seven days end
i ing September 10th last year and 312,
! 206 year before last. This brings tn"
total amount for the is days of the new
season to 263, SOP against 405,910 last
year.
The statement shows receipts at all
| United States ports since September LIST
of 17G950 bales against 262,4 40 for the
| same time last year Southern mill fax