The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-01-22
VOLUME BUSINESS 3S PER CENT
OVER LAST YEAR.
GREAT DEMAND FOR IRON PRODUCTS
Falling or in the Number Of Business Failures
--Manufacturing Works Better Employed
and Prospects More Encouraging than
Years of Same Definite Records.

~ large measure Oh ACTIVITY III UuSi-
ness and industrial lines, with, in some
instances, previous records surpassed
and very general .lteadiness in prices of
staples, lis perhaps the most notable feat
ure of the trade situation this week
Quotations of cereals show the most
aggressive strength, while those of some
makes of pig iron betray rather more
decided weakness than they did week
ago. Mild weather is frequently men
toned as an influence tending to check
retail distribution of SeaSonable goods,
chiefly because of the effect on country
roads. Spring trade opens slowly as us
Tlal at this time of the year, but conf
dence is still unimpaired. AS already
intimated. the immense current produc-
ton of pig iron, amounting to fully L.
600 tons per month, has ebgun to eXer-
Csc an influence upon the price of that
staple but decreases reported are still
only fractional. The outlook in the steel
rail trade is reported as fattering one.
Large orders for railroad account al
ready booked have been increased within
the week. an example of this being fur
nished by sales of $4,000 tons reported
from Chicago at full prices. Higher
prices for wool abroad based partly on
short yield reports. are reflected in the
frmness of domestic quotations, although
demand while comparing we'll with most
preceding years. is smaller than it was
at this time in 1897. when tariff changes
were being anticipated. The industrial
situation. with the single exception of
the cotton industry is one of exceptional
strength. As yet the strikes in this
branch of trade, are largely confined to
Massachusetts.
Mems wear woOlenS are moving fairly
we'll. At the west distributive trade &
slowly improving. while at the South
a fair January trade is reported, partic-
ularly in the Mississippi valley. Good
returns from last years Louisiana sugar
crop lind expression in higher prices for
sugar lands. The good export demand
for cotton precludcs too heavy accumu-
lations at primary points in spite of the
crop movement Mild weather in the
Northwest affects trade to some. extent.
A point Of interest, however. Is the re-
port that fur goods manufacturers usual
~ shut down ut this season, are running
full time on Alaskan orders.
Business is active on the Pacific coast.
California crcp prospects have been im-
proved by, the recent rains, and ship
and boat building are very active along
Puget Sound and at Portland.
indicated by reports to Bradatreet's this
week. Total shipments of wheat, flour
included, from the United States and
Canada, amounted to only 3.926.000
bushels. against 5,229,000 bushels last
week, 2.916000 bushels in this week n
year ago 3.S49.000 bushels in 1896 and
2S40.000 bushels in the third week of
january. 1895. Indian corn exports
also show a heavy falling off. amounting
to only 3.4S6000 bushels this week, a.
gainst 4.461 900 bushels last week. 3.
$4,000 bushels last year. and 3,1920,0O0
bushels in the corresponding week of
1896
A further falling off in the number Of
business failures is reported in the Uni
ted States this week the total heing only
800 against 323 last week. 429 in this
week year ago. 314 in this week of
1896. 312 IN 1895 and 1888 in 1891.
Failures in the Dominion of Canada
show further falling off. amounting
this week to only 46, against 5S last
week. ~ in 1897. - in 1896 ard AZ
in 1894. but slightly exceeding this Of
1895, which numbered SO.
DUN'S REVIEW.
New York, Jan. Pr. G.. Dun &
Co.'S weekly review of trade will say
tomorrow:
With a volume of business remarkable
for the time of year, 80 per cent. larger
than a year ago, and 10.4 per cent.
larger than in 1892 in payments through
clearing houses, it is not discouraging
that. one or two Industries are tagging
The demand for most goods is more
heavy for the season, manufacturing
works are better employed and orders
booked and prospects for the future are
more encouraging than at this season
in any other year, of which equally
definite records exist. Exports OF pro
ducts continue surprisingly heavy, in
spite of some rise in prices. Treasury
receipts from customs were larger in
twenty days of January than in the en-
tire month OF October or November
and apprehension regarding the none
tary future is no longer felt outside Of
speculative circles. Failures are con
siderably smaller than were ever known
at this season, both manufacturing and
trading are less than half of last year.
Railroad earnings in january thus far
reported have been 17.6 per cent. larger
than last year, and 1913 per cent. larger
than in 1892.
The rise of wheat above a dollar in
regular sales WIS not accompanied by
signs of speculative excitement. In fact,
the continuance of extraordinary exports
2,945,70j bushels, -four included, for the
week, from Atlantic ports, against 1913
215 last year, and for three weeks 81
CO.,, 1913 bushels, against 5,559,532 last
year. besides 4,036,940 from Pacific
ports for three weeks. would give excuse
for high prices. even IL the corn exports
were not enough to suggest great foreign
need, amounting to 9,270, fS9 bushels
against 10TH 293 for three weeks. The
fact that cargoes Of corn were shipped
during the week to Egypt and Russia
the very countries upon which Europe
most relies for breaelstuffs next to the
United States, affected trade not un
reasonably.
Just when unprecedented production