The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1898-03-26
IN GOOD SHAPE, THOUGH
THE EXPORT TRADE CONTINUES
TO BE HEAVY.
IRON AND STEEL INTENSELY ACTIVE
Falling OFF in Business Failures Cotton
Goods Weaker Cotton and Cereals Go
Down Few Points, CurtaiIment
of Cotton Acreage

New York, March pr. G. Dun
and Company's review of trade will say
in to-morrow's issue:
A waiting state of things always him
derS business to some extent. With
more than 100000 in gold received
or on its way since this movement be-
gan. with ample hank reserves and
treasury reserves and Il redemption of
notes in all ways nearly a third smaller
than in February to date, with no
st1ingency i'll the money market and
sterling exchange weak, with the vol
u1ne of business at clearing houses out
side New York larger than in 1892 by
90 per cent this month, and with fail
ures nearly 30 per cent smaller than
last year and - per cent smaller than
in the same month of 1892. there is
not much visible ground for panic, even
if earnest efforts should fail to keep
peace with honor War-like reports
come every day and stock operators
make the most of them and yet the
average of prices of railroad stocks is
S53.0S against $500 two weeks ago
to-day Nor have industrial operations
been perceptibly affected except where
extraordinary buying for some weeks
past has made necessary a pause for
breath. so to speak, or where unnatural
prices had caused Il halt before the des-
truction of the Maine.
1t is difficult to take dismal views
when the nation is surprising all records
i'll marketing products. Atlantic exports
OF wheat for the week have been 2,16O,
q bushels, against 1922, $50 last year.
and in four weeks 9.302,514 flour in
cludev). against 5.103.427 last year
with Pacific exports 4, 232, 032 bushels,
against 500, 242 last year. The price has
declined Us cents but the heavy ship
ments and contracts for export are
having a constant influence.
Corn has declined only a small frac-
ton, with exports not sixth lower
than year ago to date. Cotton has
fallen a sixteenth In spite of large ex-
ports. because sales of fertilizers and
other evidences indicate that curtail-
ment of acreage this year will be less
than was expected. Domestic exports
from New York in two weeks have been
50. 10000 or 37.S per cent Larger than
last year, while imports have been
scarcely larger, foresha1lowing exports
again exceeding S100,0O0.000 for the
month and So, 0O0O00 over imports
Sales of wool have been only 11.411.-
600 ponds in three weeks at the three
chief markets. against 46,60J,3 800 last
year. and prices are yielding, with sales
Of old wool Il to l cent below current
quotations for clothing. and no indica-
ton that manufacturers are nearing the
end Of their stocks.
Cotton mills at Fall River still increase
their accumulated stocks about 2.OOO,O0
pieces and print cloths have declined to
200 cents. the lowest on record. Some
prints have also weakened, but g:nghams
are firm and the better grades of dress
good are sold well ahead
Theron and steel industry Is more
fully employed than ever before in its
history, and although production OF
Bessemer pig is beyond all precedent.
the prices advances, and billets are still
bought in open market by some Of the
largest producers. The structural de-
mand during the first quarter was so
per cent larger than in the same quar-
tor II ANY previous year and it is said
the demand for pipe IS swelled by pend
ing contracts for 1875 mileS.
Failures for the week have been
251 in the United States. against pol
last year and 81 in Canada, against 80
last year.