The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-02-22
.BRADSTREET AND DIN
Favorable Features Dominate
Business Situation.
STAPLE AR TlCLES RiSE
ACTIVITY IN Tie lItON
AND STEEL TRADE.
ALASKA TRADE KEEPS VESSELS BUSY
Strength Of Gotten, Sugar and Rice and De
mand for Iron All Favor Souhrn Trade
Stu ion--Groning Foreign Trade
in Cotton Goods.

%cw York. Feb. 1S.-K. &. Dun Il
Company's review of trade:
The dreadful DISASTER TO the Name,
much as it has affected all hearts. has
not much affected business. On!y III
tEe stock market. where there was sell
ing Wednesday by spectators on thin
margins. but III ne other speculative
market was an affect felt, nor III gen
oral business. An advance OF ~ per
cent in wages by some GobGbic MINES Is
expected to he general throughout the
lake region excepting the Mesabi dis
trict, and prices of ore from the other
ranges this year have been advanced
- per cent. with an allotment of SIX
million tons outside Carnegie mines
which betokens an output much the
largest ever known.
Wheat has risen 3% cents. and exports
continue SO heavy that Il material ad-
vance is natural. Atlantic exports in
three weeks have been S.416,49o bushels
Hour included. against 5,661 81 last
year. and Pacific exports have been
2,47G,G52. against 1.4T4.7 1872 last year.
Such shipments. with he lvy engage
ments for the future in spite of 11.43O,-
S31 bushels corn exported, against T.
5O7,214 bushels in the same weeks last
year, are conclusive proof of the ur-
gency of foreign needs. Wheat receipts
hold up we'll though not exceeding last
years as much as exports, III three
weeks 7.77J.56O bushels, against 4.SSf,-
40 last year. The bottom fact Us that
the world needs wheat which this coun-
try can only supply for about six months
to come. Cotton was held unchanged
for spot. though 4 little lower for options.
prospects Of decrease in the next yield
being the main support.
The iron output February /. with re-
ports of stocks on hand not held by the
great steel companies. indicates on
sumption ut least 5000 tons per week
greater in January than the previous
maximum attained in November. 1895.
The production is ut present greater than
CONSUMPTION. stocks having increased
9,O16 tons weekly in Janaury outside the
steel companies. whose presumably de-
creased. Some weakness in pig would
naturally result. but while Greyforgc
has declined at Pittsburg t. $3.50. With
Southern iron offered at Chicago at
1INt III Dho
ducts. Though new business has been
somewhat disappointing. the works are
mainly supplied for months ahead. In
building of steel cans. in black sheets for
timing, in rod Wire and wire nails.
increased demand and heavy business
appear, though bar and pipe are weaker,
and structural orders seaSonahly slow.
Minor metals have advanced. tin to
14.2O cents on considerable consuming
demand, copper to ia for Lake on
heavy exports. and lead $50. and Spclter
to lilo cents on speculation, but failure
to organize the tin pool causes weak
ness. American selling at So, and lower
at the west. In the cotton manufacture
production is restricted by strikes and
some grades are Il shade drarer. The
recent opening Of higher grade woolens
at advanced prices meets less demand
thar was expected, with less actlvlt! III
lower grades and unexpectedly numtr-
Gus cancellations i'll light weights, lndl-
eating larger buying nan tohsuihp'io
has yet warranted.
Failures for the week have been 10
in tho United States. against Boz last
wear. and 80 III Canada, against . last
year..
RRADSTREETNS REVIEW.
New York, Feb. 1S.-Bradstreet to-
| morrow will say:
Favorable features dominate the gen
oral husiness situation as Il whole and
tow commercial conditions present them
selves which can be regarded as III any
degree disturbing. Chief among
these factors which make for continued
or growing strength in commercial lines
NAV be mentioned the renewed tenden-
CIV toward advances in quotations Of all
staplc articles and the steadincss OF
prices in other lines where increases are
not at the moment reportable. Perhaps
second in the list of suspicious features
is the continuance of marked activity
in nearly all branches of the iron and
steel trade, more particularly in the cen
trail west, where it is authoritatiyely re-
ported over 80 per cent of the pig iron
furnace capacity is in blast. The fai
ure of the Southern furnace men tC
reach a price agreement lis of course q
depressing feature in that particular
section. which. however. finds a coun-
4erba'ancin; fac'o" in the intention tC
advance prices, reported from the Bes
semer ore producers. The volume of dis
tributive trade shows an increase nota
bly, in dry goods and groceries. also
many widely separated points as t.
warrant the conclusion hat spring trade
Is receiving d p9fcepI1Dle impetus. "A
the West iron and steel mills are re
ported generally busily employed and un
willing to take orders for early deliv
cry. At Chicago, 10000 tons of stec
rails have been sold in the past tw,
weeks. The bicycle trade is reported
!. starting up We'll at the West, but is still
slow at the East, however. the cottor
goods situation is one of hopeful
strength. The strength of cotton, sugal
and rice and the demand for iron al
favor the Southern trade situation
which is also being helped by the grow
ing foreign trade in cotton goods. TIL
activity in Alaskan shipments keep
vessels busy on the Pacific coast an(
freight rates are firm. California cror
prospects are not encouraging as a whole
business failures continue to decreas 60
a~ggregating only 269 for the veeL >